Loan Modifications. (a) The Borrower may, by written notice to the Administrative Agent from time to time, make one or more offers (each, a “Loan Modification Offer”) to all Lenders of one or more Classes of Loans and/or Commitments (each Class and/or Commitment subject to such a Loan Modification Offer, an “Affected Class”) to make one or more Permitted Amendments (as defined in paragraph (c) below) pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to the Borrower. Such notice shall set forth (i) the terms and conditions of the requested Permitted Amendment and (ii) the date on which such Permitted Amendment is requested to become effective (which shall not be less than 10 Business Days nor more than 30 Business Days after the date of such notice, unless otherwise agreed by the Administrative Agent). Permitted Amendments shall become effective only with respect to the Loans and Commitments of the Lenders of the Affected Class that accept the applicable Loan Modification Offer (such Lenders, the “Accepting Lenders”) and, in the case of any Accepting Lender, only with respect to such Lender’s Loans and Commitments of the applicable Affected Class.
(b) The Borrower and each Accepting Lender shall execute and deliver to the Administrative Agent a loan modification agreement (each, a “Loan Modification Agreement”) and such other documentation as the Administrative Agent shall reasonably specify to evidence the acceptance of the Permitted Amendments and the terms and conditions thereof. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification Agreement. Each of the parties hereto hereby agrees that, upon the effectiveness of any Loan Modification Agreement, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Permitted Amendment evidenced by such Loan Modification Agreement and only with respect to the Loans and Commitments of the Accepting Lenders of the Affected Class (including any amendments necessary to treat the Loans of the Accepting Lenders of the Affected Class as a class of Loans). Notwithstanding the foregoing, no Permitted Amendment shall become effective unless the Administrative Agent, to the extent reasonably requested by the Administrative Agent, shall have received legal opinions, board resolutions, officer’s certificates and other documentation reasonably requested by it consistent with th...
Loan Modifications. Unless advance written approval is provided by, or obtained from, the Company, the Insured may not make any change in the terms of a Loan, including the borrowed amount, interest rate, term or amortization schedule of the Loan, except as permitted by terms of the Loan; nor make any change in the Property or other collateral securing the Loan; nor release the Borrower from liability on a Loan; nor subordinate the Second Deed of Trust.
Loan Modifications. Any modification to the terms of the DOT OSDBU guarantee agreement must have prior written approval of the Director, and executed in writing as an Addendum to the original guar- xxxxx agreement.
Loan Modifications. Associate-Licensee is NOT allowed to help their clients with a loan modification in any way. This includes, but is not limited to:
1. Representing them as your clients with a loan modification company.
2. Calling a loan modification company on their behalf.
3. Referring them to a loan modification company.
4. Getting paid by a loan modification company.
5. Helping them in any way with a loan modification.
6. Receiving advance payments of any kind. The Premier Realty Associates E&O policy does not cover loan modifications.
Loan Modifications. (a) CitiMortgage may agree with any mortgagor to modify or waive any provision of a mortgage loan if the modification or waiver does not · affect the amount or timing of any payment of principal or interest on the mortgage loan, · in CitiMortgage’s judgment, materially impair the security for, or reduce the likelihood of timely payment of amounts due on, the mortgage loan, or · otherwise constitute a “significant modification” within the meaning of Treasury Regulations Section 1.860G-2(b).
(b) Notwithstanding the preceding section (a), CitiMortgage may agree with any mortgagor to modify or waive any provision of a mortgage loan if · the mortgage loan is in default or, in CitiMortgage’s judgment, default is reasonably foreseeable, or · CitiMortgage delivers to the Trustee an opinion of counsel to the effect that the modification or waiver will not affect the REMIC status of any REMIC. A loan modification may · extend the maturity of the mortgage loan, but not beyond the last scheduled distribution day for the certificates related to the pool containing the mortgage loan, · postpone any payment of principal or interest, · reduce the outstanding principal balance of the mortgage loan, including forgiving all or part of previously scheduled principal payments not made by the mortgagor, · reduce the interest payable on the mortgage loan, including forgiving all or part of previously scheduled interest payments not made by the mortgagor, or · increase the principal balance of the mortgage loan by part or all of the amount of any unreimbursed servicing advances (such increase being a capitalized reimbursement amount). If a mortgage loan is modified by reduction of the principal balance of the mortgage loan, the amount of the reduction will be a realized loss, allocated between the target rate and PO strips in the same percentage as the loan was allocated immediately prior to the modification; if voluntary advances were made on the mortgage loan to the full amount of scheduled monthly loan payments, the realized loss will be the difference between the principal balance of the modified mortgage loan and the scheduled principal balance of the mortgage loan before modification.
(c) CitiMortgage may not agree with a mortgagor to modify or waive a provision of a mortgage loan under the preceding section (b) unless CitiMortgage reasonably determines that the mortgagor can make scheduled monthly loan payments on the modified loan, and the modification · is in the best in...
Loan Modifications. (a) Each of the Accepting Lenders set forth on Schedule I hereto (each, a “Tranche 2 Domestic Revolving Credit Lender”) agrees that the principal amount of its Domestic Revolving Credit Commitments set forth on Schedule I shall hereby be
Loan Modifications. As of the Effective Date, the Loan Documents are amended and supplemented as follows, so long as the conditions to effectiveness set forth in Section 4 are satisfied or waived as provided in Section 4:
Loan Modifications. Stayton acknowledges and agrees that Purchaser has not waived its rights under the PSA (including, without limitation those rights set forth in Section 7.1(i) and 8.6) with respect to any modifications to the Existing Real Property Loans and Existing Personal Property Loans required by the Modification Schedule which are not specifically satisfied in the modification documents or term sheets attached the Reorganization Plan or any modification or supplement to the Reorganization Plan.
Loan Modifications. For loans modified under this Assurance provide the following:
1. Average and total dollar amounts of Accrued Interest, Escrow-related Advances, Corporate Advances and outstanding late charges forgiven and average percentage of unpaid principal balance this represents;
2. Average and total dollar amounts of Deferred Interest forgiven and average percent of unpaid principal balance this represents;
3. Number of loans that received principal forgiveness, total principal forgiveness and average principal forgiveness per loan;
4. Number of loans that received principal forbearance, total principal forbearance and average principal forbearance per loan;
5. Number of loans that receive term extensions and the average new total term of such loans;
6. Number of loans that receive interest rate reductions, average initial post- modification interest rate, and average interest rate reduction of such loans;
7. Average percentage Monthly Payment reduction;
8. Average and total dollar value of the modification by comparing the concessions of the modification to the original terms of the Note, assuming the borrower takes advantage of all opportunities presented by the modification;
9. Average LTV pre- and post-modification;
10. Number of short-sales that are (i) offered (ii) completed and (iii) rejected; total and average incentive payment to Eligible Borrower pursuant to Section “VIII”;
11. Number of deeds-in-lieu of foreclosure that are (i) offered (ii) completed and
