Loan Assignment. At the request of Borrower in connection with any full prepayment or repayment of the Loan in accordance with the terms of this Agreement and the other Loan Documents, Lender shall: (i) assign one or more of the Mortgages to any new lender in connection with a refinance of the Loan in accordance with the terms of an assignment document prepared by counsel to Borrower and approved by Lender, which assignment documents shall be without representation or warranty by, or recourse to, Lender, provided that Lender shall represent that such assignment document has been duly authorized, executed and delivered and that Lender has not assigned or encumbered the Mortgages, (ii) deliver to or as directed by Borrower the original executed Note and all other original executed notes (or copies thereof if no such original executed note was delivered to Lender in connection with the closing of the Loan) which may have been consolidated, amended and/or restated in connection with the closing of the Loan or, with respect to any note the original of which had been delivered and endorsed to Lender and such original has been lost, destroyed or mutilated, a lost note affidavit (without indemnification) for the benefit of the assignee lender and the title insurance company insuring the applicable Mortgages, as assigned, in form sufficient to permit such title insurance company to insure the lien of the applicable Mortgages as assigned to and held by the assignee without exception for any matter relating to the lost, destroyed or mutilated note, (iii) execute and deliver an allonge with respect to the Note and, to the extent endorsed to Lender, any other note(s) as described in the preceding clause (ii) above without recourse, covenant or warranty of any nature, express or implied (except as to the outstanding principal balance of the Loan and that Lender owns the Note free of any liens and encumbrances and has the authority to execute and deliver the allonge), (iv) deliver the original executed Mortgages or a certified copy of record, and (v) execute and deliver such other instruments of conveyance, assignment, termination, severance and release (including appropriate UCC-3 termination statements) in recordable form as may reasonably be requested by Borrower to evidence such assignment and/or severance. All reasonable out-of-pocket costs and expenses incurred by Lender, including, without limitation, reasonable attorney’s fees, in connection with the foregoing shall be paid by Bo...
Loan Assignment. The sale, assignment or transfer of a Loan by the Insured shall terminate coverage of the Loan hereunder.
Loan Assignment. (i) Except as pro- vided in paragraph (b)(8)(iii) of this sec- tion, the guaranty agency must allow a loan to be assigned only if the loan is fully disbursed and is assigned to—
(A) An eligible lender;
(B) A guaranty agency, in the case of a borrower’s default, death, total and permanent disability, or filing of a bankruptcy petition, or for other cir- cumstances approved by the Secretary, such as a loan made for attendance at a school that closed or a false certifi- cation claim;
(C) An educational institution, whether or not it is an eligible lender, in connection with the institution’s re- payment to the agency or to the Sec- retary of a guarantee or a reinsurance claim payment made on a loan that was ineligible for the payment;
(D) A Federal or State agency or an organization or corporation acting on behalf of such an agency and acting as a conservator, liquidator, or receiver of an eligible lender; or
Loan Assignment. Subject to the payment of the Purchase Price, the Seller agrees to grant, assign, and transfer (or cause CECEP Lux to grant, assign, and transfer) to the Purchaser, and the Purchaser agrees to assume and accept from the Seller (or CECEP Lux, as the case may be), all of the Seller’s (or CECEP Lux’s) right, title, benefit and interest in and to certain outstanding loan amounts due to the Seller and CECEP Lux from the CECEP Lux Project Companies as of the date of this Agreement (the “Loans”) in connection with the relevant loan agreements between the Seller or CECEP Lux, as applicable, and the CECEP Lux Project Companies, which are identified on Schedule 1.2 attached thereto. The Seller hereby acknowledges and agrees to unconditionally and irrevocably release CECEP Lux, the CECEP Lux Project Companies and Italsolar from any liability or claim, in tort or in contract, that the Seller or any affiliate of Seller might have arising out of the Loans to which it is a party.
Loan Assignment. (i) Except as provided in paragraph (b)(17)(iii) of this section, the guaranty agency must allow a loan to be assigned only if the loan is fully disbursed and is assigned to—
(A) An eligible lender;
(B) A guaranty agency, in the case of a borrower’s default, death, total and permanent disability, or filing of a bankruptcy petition, or for other cir- cumstances approved by the Secretary, such as a loan made for attendance at a school that closed or a false certifi- cation claim;
(C) An educational institution, whether or not it is an eligible lender, in connection with the institution’s re- payment to the agency or to the Sec- retary of a guarantee or a reinsurance claim payment made on a loan that was ineligible for the payment;
(D) A Federal or State agency or an organization or corporation acting on behalf of such an agency and acting as a conservator, liquidator, or receiver of an eligible lender; or
Loan Assignment. 7.1 The Parties hereby irrevocably acknowledge and agree that, subject to the prior notification to the Borrower but without the necessity of obtaining the Borrower’s consent and the proper registration with the SAFE, the Lender shall be entitled to, at the Lender’s sole discretion, assign its rights and liabilities under this Agreement only to the Trustee.
7.2 In the event of such assignment as described in Section 7.1 above, the Borrower shall, upon the request of the Lender’s assign(s), execute all the necessary documents, and follow forthwith all the procedures to complete the registration of such loan assignment with the competent local SAFE.
Loan Assignment. Subject to the prior notification to Borrower but without the necessity of obtaining Borrower’ consent, Lender may, at the Lender’s sole discretion, assign its rights and liabilities under this Agreement to an Affiliate of Lender.
Loan Assignment. The sale, assignment or transfer of a Loan by the Insured shall terminate coverage of the Loan hereunder; provided, however, that the original Insured listed on the face of this Policy may, directly or indirectly, sell, assign or transfer the Loans one time to a trust established for the purpose of issuing securities backed by the Loans insured under the Policy
Loan Assignment. Unless advance written approval is obtained from the Company (which approval shall be in the sole and absolute discretion of the Company), or this Policy and coverage of all Loans under this Policy are assigned to an Insured as described in Section 1.20, if a Loan is sold, assigned, or transferred by the Insured, the coverage of such Loan under this Policy may not and will not be assigned to such purchaser, assignee, or transferee and coverage of such Loan under this Policy shall automatically terminate upon such purchase, assignment or transfer. If the Company does give such approval, the Company shall thereafter, for all purposes under this Policy, including for purposes of calculating premiums and the Aggregate Loss Limit, disregard such sale, assignment or transfer, and continue to treat the Insured as the only Person with any interest in such Loan and the Insured agrees that it and any such purchaser, assignee, or transferee shall make all such arrangements as between or among themselves as may be appropriate in light of this restriction on the transfer of such coverage.
