Common use of Loan Management Services Clause in Contracts

Loan Management Services. (a) The Bank shall service and administer the Bando Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Bank may deem necessary or desirable including, but not limited to, the following. The Bank may waive, modify or vary any term of any Bando Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any obligor if, in the Bank's determination, such wavier, modification, postponement or indulgence is not materially adverse to the interests of Bando, provided, however, that, unless the obligor is in default with respect to the Bando Loan, or such default is, in the judgment of the Bank, imminent, the Bank may not permit any modification with respect to any Bando Loan that would change the loan interest rate, defer or forgive the payment of any principal or interest (unless in connection with the liquidation of the related Bando Loan), or extend the final maturity date on such Bando Loan. All out-of-pocket costs incurred by the Bank, including but not limited to, the cost of appraisals, title insurance and attorneys' fees shall be added to the amount owing under the related Bando Loan. Without limiting the generality of the foregoing, the Bank shall continue and is hereby authorized and empowered to execute and deliver on behalf of Bando all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Bando Loans and with respect to any mortgaged properties or other collateral. If reasonably required by the Bank, Bando shall furnish the Bank with any powers of attorney and other documents necessary or appropriate to enable the Bank to carry out its servicing and administrative duties under this Agreement. (b) In consideration for the Bank's loan management services to Bando under this Agreement, the Bank shall charge and Bando shall pay on a monthly basis a fee equal to one-twelfth of twenty-five (25) basis points multiplied by the amount of Bando Loans outstanding at the end of the preceding month plus all of the Bank's out-of-pocket expenses described in paragraph 1(a).

Loan Management Services. (a) The Bank shall service and administer the Bando Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Bank may deem necessary or desirable including, but not limited to, the following. The Bank may waive, modify or vary any term of any Bando Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any obligor if, in the Bank's determination, such wavierwaiver, modification, postponement or indulgence is not materially adverse to the interests of Bando, provided, however, that, unless the obligor is in default with respect to the Bando Loan, or such default is, in the judgment of the Bank, imminent, the Bank may not permit any modification with respect to any Bando Loan that would change the loan interest rate, defer or forgive the payment of any principal or interest (unless in connection with the liquidation of the related Bando Loan), or extend the final maturity date on such Bando Loan. All out-of-pocket costs incurred by the Bank, including but not limited to, the cost of appraisals, title insurance and attorneys' fees shall be added to the amount owing under the related Bando Loan. Without limiting the generality of the foregoing, the Bank shall continue and is hereby authorized and empowered to execute and deliver on behalf of Bando all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Bando Loans and with respect to any mortgaged properties or other collateral. If reasonably required by the Bank, Bando shall furnish the Bank with any powers of attorney and other documents necessary or appropriate to enable the Bank to carry out its servicing and administrative duties under this Agreement. (b) In consideration for the Bank's loan management services to Bando under this Agreement, the Bank shall charge and Bando shall pay on a monthly basis a fee equal to one-twelfth of twenty-five (25) basis points multiplied by the amount of Bando Loans outstanding at the end of the preceding month plus all of the Bank's out-of-pocket expenses described in paragraph 1(a).

Loan Management Services. (a) The Bank shall service and administer the Bando Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Bank may deem necessary or desirable including, but not limited to, the following. : The Bank may waive, modify or vary any term of any Bando Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any obligor if, in the Bank's determination, such wavierwaiver, modification, postponement or indulgence is not materially adverse to the interests of Bando, ; provided, however, that, unless the obligor is in default with respect to the Bando Loan, or such default is, in the judgment of the Bank, imminent, the Bank may not permit any modification with respect to any Bando Loan that would change the loan interest rate, defer or forgive the payment of any principal or interest (unless in connection with the liquidation of the related Bando Loan), or extend the final maturity date on such Bando Loan. All out-of-pocket costs incurred by the Bank, including but not limited to, the cost of appraisals, title insurance and attorneys' attorney's fees shall be added to the amount owing owning under the related Bando Loan. Without limiting the generality of the foregoing, the Bank shall continue and is hereby authorized and empowered to execute and deliver on behalf of Bando all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Bando Loans and with respect to any mortgaged properties or other collateral. If reasonably required by the Bank, Bando shall furnish the Bank with any powers of attorney and other documents necessary or appropriate to enable the Bank to carry out its servicing and administrative duties under this Agreement. (b) In consideration for the Bank's loan management services to Bando under this Agreement, the Bank shall charge and Bando shall pay on a monthly basis a fee equal to one-twelfth of twenty-five (25) basis points multiplied by the amount of Bando Loans outstanding at the end of the preceding month plus all of the Bank's out-of-pocket expenses described in paragraph Section 1(a). (c) As agent of Bando, Bank may originate loans for the benefit of Bando to Bando customers and shall be entitled to a loan origination and processing fee of $2,500 for each loan so originated and processed. For purposes of this Section 1(c), "originate loans to Bando customers" means refinancing loans, renewing loans and making new loans to then existing Bando customers.

Loan Management Services. (a) The Bank shall service and administer the Bando Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Bank may deem necessary or desirable including, but not limited to, the following. : The Bank may waive, modify or vary any term of any Bando Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any obligor if, in the Bank's determination, such wavierwaiver, modification, postponement or indulgence is not materially adverse to the interests of Bando, ; provided, however, that, unless the obligor is in default with respect to the Bando Loan, or such default is, in the judgment of the Bank, imminent, the Bank may not permit any modification with respect to any Bando Loan that would change the loan interest rate, defer or forgive the payment of any principal or interest (unless in connection with the liquidation of the related Bando Loan), or extend the final maturity date on such Bando Loan. All out-of-pocket costs incurred by the Bank, including but not limited to, the cost of appraisals, title insurance and attorneys' fees shall be added to the amount owing owning under the related Bando Loan. Without limiting the generality of the foregoing, the Bank shall continue and is hereby authorized and empowered to execute and deliver on behalf of Bando all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Bando Loans and with respect to any mortgaged properties or other collateral. If reasonably required by the Bank, Bando shall furnish the Bank with any powers of attorney and other documents necessary or appropriate to enable the Bank to carry out its servicing and administrative duties under this Agreement. (b) In consideration for the Bank's loan management services to Bando under this Agreement, the Bank shall charge and Bando shall pay on a monthly basis a fee equal to one-twelfth of twenty-five (25) basis points multiplied by the amount of Bando Loans outstanding at the end of the preceding month plus all of the Bank's out-of-pocket expenses described in paragraph Section 1(a). (c) As agent of Bando, Bank may originate loans for the benefit of Bando to Bando customers and shall be entitled to a loan origination and processing fee of $2,500 for each loan so originated and processed. For purposes of this Section 1(c), "originate loans to Bando customers" means refinancing loans, renewing loans and making new loans to then existing Bando customers.