Common use of Claims by Lender to Reserve Fund Clause in Contracts

Claims by Lender to Reserve Fund. If the Lender charges off all or part of an Enrolled Loan, the Lender may file a Claim with the Center by submitting a completed claim form attached as Exhibit 4, or as otherwise approved by the Center, bearing the execution signature of an authorized officer of the Lender. Any Claim that is filed under this Agreement shall be filed contemporaneously with the action of the Lender to charge off all or part of the loan. Xxxxxx’s Claim may include the amount of principal charged off plus up to ninety days’ accrued interest, and up to one half (1/2) of the reasonable documented out-of-pocket expenses incurred in pursuing collection efforts, including the preservation of collateral. The amount of principal and accrued interest included in the Claim shall not exceed the principal amount covered under the Program upon enrollment, plus up to ninety days’ accrued interest attributable to such covered principal amount. The Lender may file more than one Claim in connection with a loan if the original Claim represented a partial charge-off of the loan or if the Lender incurs expenses in connection with a loan subsequent to the filing of a prior claim on that loan. The Lender shall determine when and how much to charge off on an Enrolled Loan in a manner consistent with its normal method for making such determinations on business loans which are not Enrolled Loans. If the Lender files two (2) or more Claims contemporaneously, and if there are insufficient funds in the Reserve Fund at that time to cover the entire amounts of those Claims, the Lender may designate the order of priority in which the Center shall pay the claims in accordance with Section 5.4.

Claims by Lender to Reserve Fund. If the Lender charges off all or part of an Enrolled Loan, the Lender may file a Claim with the Center IBGC by submitting a completed claim form attached as Exhibit 4, or as otherwise approved by the CenterIBGC, bearing the execution signature of an authorized officer of the Lender. Any Claim that is filed under this Agreement shall be filed contemporaneously with the action of the Lender to charge off all or part of the loan. XxxxxxLender’s Claim may include the amount of principal charged off plus up to ninety days’ accrued interest, and up to one half (1/2) of the reasonable documented out-of-out of pocket expenses incurred in pursuing pursing collection efforts, including the preservation of collateral. The amount of principal and accrued interest included in the Claim shall not exceed the principal amount covered under the Program upon enrollment, plus up to ninety days’ accrued interest attributable to such covered principal amount. The Lender may file more than one Claim in connection with a loan if the original Claim represented a partial charge-off of the loan or if the Lender incurs expenses in connection with a loan subsequent to the filing of a prior claim on that loan. The Lender Lenders shall determine when and how much to charge off on an Enrolled Loan in a manner consistent with its normal method for of making such determinations determination on business loans which are not Enrolled enrolled Loans. If the Lender files two (2) or more Claims contemporaneously, and if there are insufficient funds in the Reserve Fund at that time to cover the entire amounts of those Claims, the Lender may designate the order of priority in which the Center IBGC shall pay the claims in accordance with Section 5.4.

Claims by Lender to Reserve Fund. If the Lender charges off all or part of an Enrolled Loan, the Lender may file a Claim with the Center IBGC by submitting a completed claim form attached as Exhibit 4, or as otherwise approved by the CenterIBGC, bearing the execution signature of an authorized officer of the Lender. Any Claim that is filed under this Agreement shall be filed contemporaneously with the action of the Lender to charge off all or part of the loan. Xxxxxx’s Claim may include the amount of principal charged off plus up to ninety days’ accrued interest, and up to one half (1/2) of the reasonable documented out-of-out of pocket expenses incurred in pursuing pursing collection efforts, including the preservation of collateral. The amount of principal and accrued interest included in the Claim shall not exceed the principal amount covered under the Program upon enrollment, plus up to ninety days’ accrued interest attributable to such covered principal amount. The Lender may file more than one Claim in connection with a loan if the original Claim represented a partial charge-off of the loan or if the Lender incurs expenses in connection with a loan subsequent to the filing of a prior claim on that loan. The Lender Lenders shall determine when and how much to charge off on an Enrolled Loan in a manner consistent with its normal method for of making such determinations determination on business loans which are not Enrolled enrolled Loans. If the Lender files two (2) or more Claims contemporaneously, and if there are insufficient funds in the Reserve Fund at that time to cover the entire amounts of those Claims, the Lender may designate the order of priority in which the Center IBGC shall pay the claims in accordance with Section 5.4.

Claims by Lender to Reserve Fund. If the Lender charges off all or part of an Enrolled Loan, the Lender may file a Claim with the Center by submitting a completed claim form attached as Exhibit 4, or as otherwise approved by the Center, bearing the execution signature of an authorized officer of the Lender. Any Claim that is filed under this Agreement shall be filed contemporaneously with the action of the Lender to charge off all or part of the loan. XxxxxxLender’s Claim may include the amount of principal charged off plus up to ninety days’ accrued interest, and up to one half (1/2) of the reasonable documented out-of-pocket expenses incurred in pursuing collection efforts, including the preservation of collateral. The amount of principal and accrued interest included in the Claim shall not exceed the principal amount covered under the Program upon enrollment, plus up to ninety days’ accrued interest attributable to such covered principal amount. The Lender may file more than one Claim in connection with a loan if the original Claim represented a partial charge-off of the loan or if the Lender incurs expenses in connection with a loan subsequent to the filing of a prior claim on that loan. The Lender shall determine when and how much to charge off on an Enrolled Loan in a manner consistent with its normal method for making such determinations on business loans which are not Enrolled Loans. If the Lender files two (2) or more Claims contemporaneously, and if there are insufficient funds in the Reserve Fund at that time to cover the entire amounts of those Claims, the Lender may designate the order of priority in which the Center shall pay the claims in accordance with Section 5.4.