Application for Guarantee Clause Samples
Application for Guarantee. This Agreement applies to loans made by Lender and approved for guarantee by the Authority after the date of this Agreement (the "Loans"). Approval is subject to applicable law and regulations. Any loan approved by Lender contingent upon the Authority's guarantee must be submitted to the Authority for authorization in accordance with an application furnished or approved by the Authority.
Application for Guarantee. This agreement shall cover only loans duly approved by ▇▇▇▇▇▇ and by Authority for guarantee by Authority and is subject to the Rules and Regulations as adopted by Authority. Any loan approved by ▇▇▇▇▇▇, contingent upon Authority's guarantee under this agreement, shall be referred to Authority for authorization upon the separate application (“Application”) of an eligible applicant (“Applicant”) submitted jointly by ▇▇▇▇▇▇ and Applicant. In no event shall the Authority’s guaranteed percentage of any loan exceed: the lesser of the amount authorized, in writing, with respect to any particular borrower; program limits as specified in the ALG Rules; or $750,000.00 (“Maximum Guaranteed Amount"). If the stated guaranteed percentage of any loan, when applied to the outstanding principal balance of such loan, would exceed the Maximum Guaranteed Amount, the stated guaranteed percentage of such loan shall be automatically adjusted downward to the extent required to eliminate such excess guarantee, without any change being made to any document. Lender shall not acquire any preferential security, surety or insurance to protect its unguaranteed interest in a loan. In connection with each loan submitted by ▇▇▇▇▇▇ to
Application for Guarantee. This agreement shall cover only loans duly approved by Lender and by Authority for guarantee by Authority and is subject to the Rules and Regulations as adopted by Authority. Any loan approved by Lender, contingent upon Authority's guarantee under this agreement, shall be referred to Authority for authorization upon the separate application (“Application”) of an eligible applicant (“Applicant”) submitted jointly by Lender and Applicant. In no event shall the Authority’s guaranteed percentage of any loan exceed: the lesser of the amount authorized, in writing, with respect to any particular borrower; program limits as specified in the ALG Rules; or $750,000.00 (“Maximum Guaranteed Amount"). If the stated guaranteed percentage of any loan, when applied to the outstanding principal balance of such loan, would exceed the Maximum Guaranteed Amount, the stated guaranteed percentage of such loan shall be automatically adjusted downward to the extent required to eliminate such excess guarantee, without any change being made to any document. Lender shall not acquire any preferential security, surety or insurance to protect its unguaranteed interest in a loan. In connection with each loan submitted by Lender to Authority for approval of guarantee hereunder, Lender shall perform such credit investigations, analysis, inquiries, reviews and other underwriting functions as Lender would customarily perform if the subject loan were not guaranteed by Authority, and Lender shall advise Authority of all matters with respect to such loan which do not meet or conform to Lender's underwriting standards. Authority encourages Lender to periodically assess the adequacy of its underwriting standards, taking into account recent loan growth, acquisitions, and changes in Lender’s appetite for risk. The maintenance of adequate underwriting standards is a prerequisite to Lender’s participation in Authority’s ALG Program.
Application for Guarantee. This Agreement shall cover only Loans duly approved by Lender and by Authority for guarantee by Authority and is subject to the Rules and Regulations as adopted by Authority. Any Loan (“Loan”) approved by ▇▇▇▇▇▇, contingent upon Authority's guarantee under this Agreement, shall be referred to Authority for authorization upon the separate application (“Application”) of an eligible applicant (“Applicant”) submitted jointly by ▇▇▇▇▇▇ and Applicant. In no event shall the Authority’s guaranteed percentage of any Loan exceed: (a) the lesser of the amount authorized, in writing, with respect to any particular Applicant or borrower; (b) program limits as specified in the ALG Rules; (c) or $750,000.00 (“Maximum Guaranteed Amount"). If the stated guaranteed percentage of any Loan, when applied to the outstanding principal balance of such Loan, would exceed the Maximum Guaranteed Amount, the stated guaranteed percentage of such Loan shall be automatically adjusted downward to the extent required to eliminate such excess guarantee, without any change being made to any document. Lender shall not acquire any preferential security, surety or insurance to protect its unguaranteed interest in a