Common use of Administration of Lines of Credit Clause in Contracts

Administration of Lines of Credit. If the Loan is a line of credit then during the term of this Deposit Agreement, the line of credit may continue as a Collateral Enhancement Program Loan for up to thirty-six (36) months after the loan is made to Borrower. Extensions of the line of credit within such thirty-six month (36) period will not require separate applications for the Collateral Enhancement Program or payment of additional Collateral Enhancement Program fees. If a line of credit is extended by a Lender for more than thirty-six (36) months, such extension shall be considered a new loan for which an application for the Collateral Enhancement Program and payment of the Collateral Enhancement Program closing fee will be required under Section 5.4 of this Agreement . For the purposes of this Deposit Agreement, fluctuations in the outstanding balance of a line of credit shall not be deemed to be a refinancing of the Collateral Enhancement Program Loan.

Administration of Lines of Credit. If the Loan is a line of credit then during the term of this Deposit Agreement, the line of credit may continue as a Collateral Enhancement Program Loan for up to thirty-six (36) months after the loan is made to Borrower. Extensions of the line of credit within such thirty-six month (36) period will not require separate applications for the Collateral Enhancement Program or payment of additional Collateral Enhancement Program fees. If a line of credit is extended by a Lender for more than thirty-six (36) months, such extension shall be considered a new loan for which an application for the Collateral Enhancement Program and payment of the Collateral Enhancement Program closing fee will be required under Section 5.4 of this Agreement Agreement. For the purposes of this Deposit Agreement, fluctuations in the outstanding balance of a line of credit shall not be deemed to be a refinancing of the Collateral Enhancement Program Loan.

Administration of Lines of Credit. If the Loan is a line of credit then during the term of this Deposit Enhancement Agreement, the line of credit may continue as a Collateral Enhancement Program Loan for up to thirty-six (36) months after the loan is made to Borrower. Extensions of the line of credit within such thirty-six month (36) period will not require separate applications for the Collateral Enhancement Program or payment of additional Collateral Enhancement Program fees. If a line of credit is extended by a Lender for more than thirty-six (36) months, such extension shall be considered a new loan for which an application for the Collateral Enhancement Program and payment of the Collateral Enhancement Program closing fee will be required under Section 5.4 of this Agreement . For the purposes of this Deposit Enhancement Agreement, fluctuations in the outstanding balance of a line of credit shall not be deemed to be a refinancing of the Collateral Enhancement Program Loan.

Administration of Lines of Credit. If the Loan is a line of credit then during the term of this Deposit Enhancement Agreement, the line of credit may continue as a Collateral Enhancement Program Loan for up to thirty-six (36) months after the loan is made to Borrower. Extensions of the line of credit within such thirty-six month (36) period will not require separate applications for the Collateral Enhancement Program or payment of additional Collateral Enhancement Program fees. If a line of credit is extended by a Lender for more than thirty-six (36) months, such extension shall be considered a new loan for which an application for the Collateral Enhancement Program and payment of the Collateral Enhancement Program closing fee will be required under Section 5.4 of this Agreement Agreement. For the purposes of this Deposit Enhancement Agreement, fluctuations in the outstanding balance of a line of credit shall not be deemed to be a refinancing of the Collateral Enhancement Program Loan.