Examples of Underlying Whole Loan in a sentence
Subordinated Lender waives any right it may have to require that Class A Lender marshal any assets of any Borrower Party or any of its direct or indirect subsidiaries (including any Underlying Whole Loan and Underlying Loan) in favor of Subordinated Lender and Subordinated Lender agrees that it shall not acquire, by subrogation or otherwise, any lien, estate, right or other interest in any of the Underlying Whole Loan or Underlying Loan or the proceeds therefrom that is or may be prior to the Class A Loan.
No Purchased Loan or Underlying Whole Loan permits the release or substitution of collateral if such release or substitution (a) would create a “significant modification” of such loan within the meaning of Treas.
The Holder shall be responsible for all other tax liability that may arise as a result of holding or transferring the Series D Preferred Stock or receiving Underlying Shares in respect of the Series D Preferred Stock.
With respect to any Purchased Loan or Underlying Whole Loan in respect of which payments by the borrower or other obligor thereon are required to be paid directly to a lockbox, the servicer or such other Person responsible for administration of such lockbox has complied in all material respects with the procedures established in the Purchased Asset Documents for administration of remittances in respect of such lockbox.
Seller (or if Seller is not the originator, the originator of the Purchased Loan or the Underlying Whole Loan) has inspected or caused to be inspected each Mortgaged Property in connection with the origination of such loan.
Rain Gardens cost approximately $5 to $7 (2005) per cubic foot of storage to construct.
No Purchased Loan or Underlying Whole Loan contains any equity participation by the lender or provides for negative amortization or for any contingent or additional interest in the form of participation in the cash flow of the related Mortgaged Property.
During any period of time commencing after Class A Lender notifies Borrower in writing that Class A Lender (together with its Affiliates) no longer has any direct economic interest in the Underlying Whole Loan, Borrower shall promptly, and in any case within two (2) Business Days after obtaining Knowledge thereof, deliver to Lender any written notice of the occurrence of any Underlying Loan Event of Default.
To the actual knowledge of Seller, there are no actions, suits or proceedings pending or threatened before any court, administrative agency or arbitrator concerning the Purchased Loan or the Underlying Whole Loan or related Mortgagor or Mortgaged Property that might materially and adversely affect the Mortgagor’s ability to pay principal, interest or other amounts due under the Purchased Loan or value of the Mortgaged Property as security for the Purchased Loan.
Seller has not and no other holder of a Purchased Loan or Underlying Whole Loan has advanced funds or induced, solicited or received any advance of funds from a party other than the owner of the related Mortgaged Property, directly or indirectly, for the payment of any amount required by such loan.