Lender Selection Sample Clauses

Lender Selection. If Buyer secures financing from a lender other than one of Seller’s Preferred Lenders, in the approval letter, the lender must include the following: They have reviewed the credit, income documents, asset documents and both the borrower and the property are approved. Buyer shall deliver to Seller the approval letter within ten (10) days of mutual acceptance of the Purchase Agreement. If Buyer is using the services of a mortgage broker to secure financing then the approval letter must be from the underlying lender, as a letter from the broker will not be accepted. Buyer agrees that if they select a lender other than one of the Seller’s Preferred Lenders and fail to close the loan on time through no fault of the Builder, the Buyer shall pay Builder a daily extension fee of $350.00 for each day of delay past the scheduled closing date.
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Lender Selection. Any Lender selected by You will undertake a thorough examination of The Client’s ability to service the Finance Agreement. This will include approval of accounting and financial information and a valuation for bank purposes of any property offered as security, Approval of this information is at the sole discretion of the Lender (and not The Broker). Several factors, beyond the control of The Broker, may emerge during this process and cause the lender to weight, or vary, the terms indicated in this memorandum which will be revised accordingly. In addition, funders may require some or all the following: • Suitable insurance on, for example, Buildings, Plant, Machinery and Stock • Appropriate life or term assurance, including keyman insurance • Directors guarantees • An independent survey or valuation, for bank purposes, of any security • Detailed financial and accounting information including bank statements, projections and accounts • independent Solicitors to prepare and complete the loan and security documents • Any other information as necessary to show the viability of the application e.g. Business Plan
Sample 1Sample 2
Lender Selection. If Buyer secures financing from a lender, in the approval letter, the lender must include the following: They have reviewed the credit, income documents, asset documents and both the borrower and the property are approved. Buyer shall deliver to Seller the approval letter within ten (10) days of mutual acceptance of the Purchase Agreement. If Xxxxx is using the services of a mortgage broker to secure financing then the approval letter must be from the underlying lender, as a letter from the broker will not be accepted. Xxxxx agrees that if lender fails to close the loan on time through no fault of the Builder, the Buyer shall pay Builder a daily extension fee of $350.00 for each day of delay past the scheduled closing date.
Sample 1
Lender Selection. You acknowledge and agree that your selection of a Lender is at your sole and absolute discretion. Sungevity strongly recommends that you review the loan or financing products, terms and conditions offered by various Lenders before making a decision to apply for a particular loan or financing product.
Sample 1

Related to Lender Selection

  • Funding of Borrowings (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request.

  • Designation of a Different Lending Office If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

  • Loan Repayment Upon the terms and conditions of this Agreement, the Issuer agrees to make the Loan to the Company. The proceeds of the Loan shall be deposited with the Trustee pursuant to Section 3.3 hereof. In consideration of and in repayment of the Loan, the Company shall make, as Loan Payments, to the Trustee for the account of the Issuer, payments which correspond, as to time, and are equal in amount as of the Loan Payment Date, to the corresponding Bond Service Charges payable on the Bonds. All Loan Payments received by the Trustee shall be held and disbursed in accordance with the provisions of the Indenture and this Agreement for application to the payment of Bond Service Charges. The Company shall be entitled to a credit against the Loan Payments required to be made on any Loan Payment Date to the extent that the balance of the Bond Fund is then in excess of amounts required (a) for the payment of Bonds theretofore matured or theretofore called for redemption, or to be called for redemption pursuant to Section 6.1 hereof (b) for the payment of interest for which checks or drafts have been drawn and mailed by the Trustee or Paying Agent, and (c) to be deposited in the Bond Fund by the Indenture for use other than for the payment of Bond Service Charges due on that Loan Payment Date. Except for such interest of the Company as may hereafter arise pursuant to Section 8.2 hereof or Sections 5.06 or 5.07 of the Indenture, the Company and the Issuer each acknowledge that neither the Company, the State nor the Issuer has any interest in the Bond Fund or the Bond Purchase Fund, and any moneys deposited therein shall be in the custody of and held by the Trustee in trust for the benefit of the Holders.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Term Loan On the Closing Date, each Lender that has a Closing Date Term Commitment severally, and not jointly, agrees, on the terms and conditions set forth in this Agreement, to make a Term Loan to the Borrower pursuant to such Lender’s Closing Date Term Commitment, which Term Loans: (i) can only be incurred on the Closing Date in the entire amount of each Lender’s Term Commitment; (ii) once prepaid or repaid, may not be reborrowed; (iii) may, except as set forth herein, at the option of the Borrower, be incurred and maintained as, or Converted into, Closing Date Term Loans that are Base Rate Loans or Eurodollar Loans, in each case denominated in Dollars, provided that all Closing Date Term Loans made as part of the same Term Borrowing shall consist of Term Loans of the same Type; (iv) shall be repaid in accordance with Section 2.12(b); and (v) shall not exceed (A) for any Lender at the time of incurrence thereof the aggregate principal amount of such Lender’s Closing Date Term Commitment, if any, and (B) for all the Lenders at the time of incurrence thereof the Total Closing Date Term Commitment. The Closing Date Term Loans to be made by each Lender will be made by such Lender in the aggregate amount of its Term Commitment in accordance with Section 2.06 hereof. Each Lender having an Incremental Term Loan Commitment hereby severally, and not jointly, agrees on the terms and subject to the conditions set forth herein and in the applicable Incremental Term Loan Assumption Agreement, to make Incremental Term Loans to the Borrower, in an aggregate principal amount not to exceed its Incremental Term Loan Commitment. Amounts paid or prepaid in respect of Incremental Term Loans may not be reborrowed.

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