Common use of Applicable Underlying Loan Documents Clause in Contracts

Applicable Underlying Loan Documents. All documents and instruments that evidence or secure an Applicable Underlying Loan, including but not limited to any Notes Receivable, Applicable Mortgages, and Underlying Guarantees executed and delivered to Borrower in connection therewith. The form and content of each Applicable Underlying Loan Document shall be satisfactory to Lender and approved by Lender in writing prior to any Advances hereunder in respect of the Applicable Underlying Loan to which such Applicable Underlying Loan Document pertains. Lender has approved the forms of Applicable Underlying Loan Documents identified in a letter from Lender to Borrower dated as of even date herewith. Borrower agrees not to amend, restate, or otherwise modify any Applicable Underlying Loan Documents in a material manner without Lender's prior written consent. Copies of any such amended, restated, or otherwise modified Applicable Underlying Loan Document, as so approved by Lender and fully executed and delivered by Borrower, shall be provided to Lender and Servicing Agent promptly following the effective date thereof. Modifications to incorporate changes required for the financing of (a) Interval Mortgages secured by Intervals which are timeshare licenses or timeshare estates which are undivided interests, or (b) contracts for deed shall not be considered material modifications.

Applicable Underlying Loan Documents. All documents and instruments that evidence or secure an Applicable Underlying Loan, including but not limited to any Notes Receivable, Applicable Mortgages, and Underlying Guarantees executed and delivered to Borrower in connection therewith. The form and content of each Applicable Underlying Loan Document shall be satisfactory to Lender Lender, in its sole and absolute discretion, and approved by Lender in writing prior to any Advances hereunder in respect of the Applicable Underlying Loan to which such Applicable Underlying Loan Document pertains. Lender has approved hereby approves as one (1) of the forms of Applicable Underlying Loan Documents identified in a letter from Lender to Borrower dated the form of Hypothecation Loan Agreement attached as of even date herewithExhibit "A" hereto and incorporated herein by this reference. Borrower agrees not to amend, restate, or otherwise modify any Applicable Underlying Loan Documents in a material manner without Lender's prior written consent, which consent may be granted or withheld, in Lender's sole and absolute discretion. Copies of any such amended, restated, or otherwise modified Applicable Underlying Loan Document, as so approved by Lender and fully executed and delivered by Borrower, shall be provided to Lender and Servicing Agent promptly following the effective date thereof. Modifications to incorporate changes required for the financing of (a) Interval Mortgages secured by Intervals which are timeshare licenses or timeshare estates which are undivided interests, or (b) contracts for deed shall not be considered material modifications.

Applicable Underlying Loan Documents. All documents and instruments that evidence or secure an Applicable Underlying Loan, including but not limited to any Notes Receivable, Applicable Mortgages, Mortgages and Underlying Guarantees executed and delivered to Borrower in connection therewith, together with the Applicable Approved Construction Schedule and Applicable Approved Construction Budget. The form and content of each Applicable Underlying Loan Document shall be satisfactory to Lender and approved by Lender in writing prior to any Advances hereunder in respect of the Applicable Underlying Loan to which such Applicable Underlying Loan Document pertains. Lender has approved the forms of Applicable Underlying Loan Documents identified in a letter from Lender to Borrower dated as of even date herewith. Borrower agrees not to amend, restate, or otherwise modify any Applicable Underlying Loan Documents in a material manner without Lender's prior written consent. Copies of any such amended, restated, or otherwise modified Applicable Underlying Loan Document, as so approved by Lender and fully executed and delivered by Borrower, shall be provided to Lender and Servicing Verification Agent promptly following the effective date thereof. Modifications to incorporate changes required for the financing of (a) Interval Mortgages secured by Intervals which are timeshare licenses or timeshare estates which are undivided interests, or (b) contracts for deed shall not be considered material modifications.

Applicable Underlying Loan Documents. All documents and instruments that evidence or secure an Applicable Underlying Loan, including but not limited to any Notes Receivable, Applicable MortgagesUnderlying Guarantees, and Underlying Guarantees Applicable Mortgages executed and delivered to Borrower in connection therewith, together with the Applicable Approved Construction Schedule and Applicable Approved Construction Budget. The form and content of each Applicable Underlying Loan Document shall be satisfactory to Lender Lender, in its sole and absolute discretion, and approved by Lender in writing prior to any Advances hereunder in respect of the Applicable Underlying Loan to which such Applicable Underlying Loan Document pertains. Lender has approved the forms of Applicable Underlying Loan Documents identified in a letter from Lender to Borrower dated as of even date herewith. Borrower agrees not to amend, restate, or otherwise modify any Applicable Underlying Loan Documents in a material manner without Lender's prior written consent, which consent may be granted or withheld, in Lender's sole and absolute discretion. Copies of any such amended, restated, or otherwise modified Applicable Underlying Loan Document, as so approved by Lender and fully executed and delivered by BorrowerLender, shall be provided to Lender and Servicing Verification Agent promptly following the effective date thereof. Modifications to incorporate changes required for the financing of (a) Interval Mortgages secured by Intervals which are timeshare licenses or timeshare estates which are undivided interests, or (b) contracts for deed shall not be considered material modifications.