Common use of Lender’s Performance Clause in Contracts

Lender’s Performance. (a) The Administrator shall periodically review Lender’s performance under this Agreement, including but not limited to the number of loans originated, loan performance, types of loans made to Eligible Borrowers, including the servicing of first mortgages made on homes with Below Market Rate Resale Restrictions. In the event the Administrator determines that the Lender has not satisfactorily performed its obligations under this Agreement, the City shall provide written notice of Administrator’s determination to the Lender. If, in the City’s reasonable judgment, the Lender has not remedied this situation within sixty (60) days of the City’s notice, the City may automatically terminate this Agreement by written notice to the Lender.

Lender’s Performance. (a) The Administrator shall periodically review LenderXxxxxx’s performance under this Agreement, including but not limited to the number of loans originated, loan performance, types of loans made to Eligible Borrowers, including the servicing of first mortgages made on homes with Below Market Rate Resale Restrictions. In the event the Administrator determines that the Lender has not satisfactorily performed its obligations under this Agreement, the City shall provide written notice of Administrator’s determination to the Lender. If, in the City’s reasonable judgment, the Lender has not remedied this situation within sixty (60) days of the City’s notice, the City may automatically terminate this Agreement by written notice to the Lender.

Lender’s Performance. (a) The City’s Administrator shall periodically review Lender’s performance under this Agreement, including but not limited to the number of loans originated, loan performance, types of loans made to Eligible Borrowers, Buyers including the servicing of first mortgages made on homes with Below Market Rate Resale Restrictions. In the event the Administrator determines that the Lender has not satisfactorily performed its obligations under this Agreement, the City shall provide written notice of Administrator’s determination that fact to the Lender. If, in the City’s reasonable judgment, the Lender has not remedied this situation within sixty (60) days of the City’s notice, the City may automatically terminate this Agreement by written notice to the Lender.