Common use of Continuous Lending Clause in Contracts

Continuous Lending. The Authority anticipates having funds available to purchase Mortgage Loans on a continuous basis, thereby allowing for a continuous lending program. The Authority will notify the Servicer and the Mortgage Lender as to the terms under which lending shall be carried out and other applicable conditions as necessary from time to time. The Mortgage Lender may register applications for the Mortgage Loans with the Authority or Servicer, as appropriate. Applications for Mortgage Loans will be accepted and processed on a first-come, first-served, fair and equal basis.

Continuous Lending. The Authority anticipates having funds available to purchase Mortgage Loans on a continuous basis, thereby allowing for a continuous lending program. The Authority will notify the Servicer and the Mortgage Lender as to the terms under which lending shall be carried out and other applicable conditions as necessary from time to time. The Mortgage Lender may register applications for the Mortgage Loans with the Authority or Servicer, as appropriate. Applications for Mortgage Loans will be accepted and processed on a first-come, first-served, fair and equal basis.