Common use of Failure of Seller to Timely Deliver Loans Clause in Contracts

Failure of Seller to Timely Deliver Loans. Seller acknowledges understands and agrees that Arc may have executed forward commitments to sell and immediately deliver Loans to third parties; therefore, Loans must be delivered on or before the Expiration Date. Seller covenants and agrees to reimburse Arc for any and all losses, expenses, costs and damages incurred by Arc as a result of such non-delivery within five (5) days of written demand by Arc. Such reimbursement shall be in addition to any and all legal and equitable remedies available to Arc including but not limited to those prescribed in the Sellers Guide.

Failure of Seller to Timely Deliver Loans. Seller acknowledges understands and agrees that Arc ArcHome may have executed forward commitments to sell and immediately deliver Loans to third parties; therefore, Loans must be delivered on or before the Expiration Date. Seller covenants and agrees to reimburse Arc ArcHome for any and all losses, expenses, costs and damages incurred by Arc ArcHome as a result of such non-delivery within five (5) days of written demand by ArcArcHome. Such reimbursement shall be in addition to any and all legal and equitable remedies available to Arc ArcHome including but not limited to those prescribed in the Sellers Guide.

Failure of Seller to Timely Deliver Loans. Seller acknowledges understands and agrees that Arc Home may have executed forward commitments to sell and immediately deliver Loans to third parties; therefore, Loans must be delivered on or before the Expiration Date. Seller covenants and agrees to reimburse Arc Home for any and all losses, expenses, costs and damages incurred by Arc Home as a result of such non-delivery within five (5) days of written demand by ArcArc Home. Such reimbursement shall be in addition to any and all legal and equitable remedies available to Arc Home including but not limited to those prescribed in the Sellers Guide.