Common use of Administration of Loans Clause in Contracts

Administration of Loans. The Lender shall hold the Loan Documents and shall receive all payments of principal and interest. The Lender shall maintain accurate records of: (i) any and all disbursements of the loan, (ii) each payment of principal and interest made by the Borrower for credit to the loan, and (iii) all accrued interest on the loan. The Lender shall not, without prior written consent of VSBFA (VSBFA to provide written response to Lender within 10 business days of each notice or request from Lender):

Administration of Loans. The Lender shall hold the Loan Documents and shall receive all payments of principal and interestinterest on the Loan. The Lender shall maintain accurate records of: (i) any and all disbursements of the loanLoan, (ii) each payment of principal and interest made by the Borrower for credit to the loanLoan, and (iii) all accrued interest on the loanLoan. The Lender shall not, without prior written consent of VSBFA (VSBFA agrees to use reasonable efforts to provide written response to Lender within 10 business days of each notice or request from Lender):