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Loan Program Sample Clauses

Loan ProgramThe parties agree that the Loan Program shall consist of the origination, funding, and collection of Loans to Borrowers in accordance with the Rules and Program Guidelines. The parties agree that Lender shall have sole responsibility for establishing credit and underwriting criteria for the Loans, making the decisions as to whether or not to make Loans to an Applicant, funding the Loans, and, subject to the timely performance of CSO’s obligations hereunder, managing the Loan Program in accordance with the express obligations under this Agreement and the Program Guidelines. Except as expressly provided herein, (i) nothing herein shall be deemed to commit Lender to originate or fund any particular level or number of Loans, and (ii) Lender makes no representation, warranty or covenant as to the amount of funding it will be able to provide for the Loans. Except as expressly provided with respect to the rights and interest of CSO in this Agreement, Lender or its assigns shall be the sole owner of all Loans made pursuant to this Agreement and CSO shall have no right, title or interest in such Loans.
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Loan Program. All loans to the Executive under the Bank's loan program that are outstanding as of the time the Executive's employment ceases hereunder shall be treated in the same manner as loans are treated upon Retirement under the Bank's personnel policies in effect on the date hereof.
Loan ProgramThe parties agree that the Loan Program shall consist of the origination, funding, and collection of Loans, from time to time in accordance with the Program Guidelines, to Borrowers who are residents of the State of Ohio. The parties agree that Lender shall have sole responsibility for establishing credit and underwriting criteria for the Loans, making the decisions as to whether or not to make Loans to prospective Borrowers, funding the Loans, and managing the Loan Program in accordance with Lender’s express obligations under this Agreement and the Program Guidelines. Nothing herein shall be deemed to commit Lender to originate or fund any particular level or number of Loans, and Lender makes no representation as to the amount of funding it will be able to raise for the Loans.
Loan ProgramThe parties agree that the Loan Program shall consist of the origination, funding, and collection of Loans, from time to time in accordance with the Program Guidelines, to Borrowers who are residents of the State of Texas. The parties agree that Lender shall have sole responsibility for establishing credit and underwriting criteria for the Loans, making the decisions as to whether or not to make Loans to prospective Borrowers, funding the Loans, and managing the Loan Program in accordance with Lender’s express obligations under this Agreement and the Program Guidelines. Nothing herein shall be deemed to commit Lender to originate or fund any particular level or number of Loans, and Lender makes no representation as to the amount of funding it will be able to raise for the Loans.
Loan Program. As part of its independent obligations hereunder, CSO will cause the Loans to be arranged in accordance with the terms and conditions of the Loans, this Agreement, the Lender’s Policies, the Loan Program, and all Applicable Laws. Lender will cause the Loan Documents to be compliant with all Applicable Laws, including any usury laws, consumer protection laws, the federal Truth in Lending Act and Regulation Z, and limits on fraudulent or unconscionable conduct.
Loan Program. 42 Section 8.1 General Provisions...........................................42
Loan ProgramIn accordance with federal law, employees may borrow from their deferred compensation funds for critical needs such as medical costs, college tuition, or purchase of a home.
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Loan ProgramThe City-County agrees to provide the BLDC with $200,000.00 from the Butte- Silver Bow Anaconda ARCO Loan fund for the purpose of providing these funds to small business owners under the following conditions: a. Each small business applying for a loan must fully complete all requirements of the BLDC loan program application. b. Each loan may be used to pay fixed debts, payroll, accounts payable and other outstanding obligations related to the COVID-19 pandemic impact on the business. Such funds may not be used for facility upgrades, equipment purchases, debt restructuring, leasehold improvements or payment of the business owner(s)’ personal expenses.
Loan Program. 21st Century agrees to offer to Nobility Homes (and, to the extent applicable, Prestige) a loan program plan (i.e., downpayment terms, fixed or variable rates, annual percentage rates, maximum loan amount, computation, allowable insurance, form of documentation, origination fee and other similar items) comparable to the prevailing plans offered by two of the largest for-profit national manufactured housing lenders, which lenders will be determined by the Members holding a Majority Vote. The Members initially designate Green Tree Financial and Bank America Home Finance Division of the Bank of America (collectively, the "Benchmark Lenders") as the comparable lenders for the purposes of this Agreement. 21st Century may designate new Benchmark Lenders from time to time upon providing notice to Nobility Homes. The Members holding a Majority Vote will ratify or reject the loan programs proposed by 21st Century. 21st Century will establish a benchmark rate (the "Benchmark Rate") for each loan program offered by 21st Century. The Benchmark Rate shall be approximately equivalent to the prevailing average annual percentage rate of the Benchmark Lenders for similar types of loans being purchased in the marketplace. The loan programs offered by 21st Century shall compete in the financing marketplace with the Benchmark Lenders, particularly with regard to products and services offered. The Credit Approval Rate shall equal the Benchmark Rate for those Contracts to be purchased by 21st Century subject to its first right to buy Contracts described in Section 4.2 of this Operating Agreement. 21st Century may also agree to purchase Contracts, and Nobility Homes (and, to the extent applicable, Prestige) may agree to sell Contracts, using a Credit Approval Rate in excess of the Benchmark Rate with the terms of such purchase and sale of Contracts to be acceptable to 21st Century and Nobility Homes (and, to the extent applicable, Prestige). Nobility Homes will deliver to 21st Century all loan applications for any Home in a form acceptable to 21st Century. 21st Century shall have two (2) business days from the date of receipt of the application within which to respond to Nobility Homes (and, to the extent applicable, Prestige) as to whether it is willing to purchase the Contract applicable to each such loan application by issuing a Credit Approval Notice to Nobility Homes (and, to the extent applicable, Prestige). In the event 21st Century does not issue a Credit Approval Notice...
Loan ProgramThe Administrator shall be authorized to establish a Participant loan program to provide for loans under the Plan. The loan program shall be established in accordance with Department of Labor Regulation §2550.408(b)-1(d)(2) providing for loans by the Plan to parties-in-interest under said Plan, such as Participants or Beneficiaries. In order for the Administrator to implement such loan program, a separate written document forming a part of this Plan must be adopted, which document shall specifically include, but need not be limited to, the following: (1) the identity of the person or positions authorized to administer the Participant loan program; (2) a procedure for applying for loans; (3) the basis on which loans will be approved or denied; (4) limitations, if any, on the types and amounts of loans offered; (5) the procedure under the program for determining a reasonable rate of interest; (6) the types of collateral which may secure a Participant loan; and (7) the events constituting default and the steps that will be taken to preserve Plan assets in the event such default.
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