Loan Sales. The Company shall provide residential mortgage loan financing to its customers. Xxxxx Fargo, or one of its Affiliates, shall purchase mortgage loans if offered by the Company in accordance with the terms of a separate written Loan Purchase Agreement (attached as Exhibit 3) to be executed by Xxxxx Fargo or one of its Affiliates, and the Company. The Company shall sell at least [Confidential Treatment Requested] of its annual loan production to investors other than Xxxxx Fargo.
Loan Sales. Each Guarantor agrees that this Guaranty shall be sufficient evidence of the obligations of such Guarantor to each Investor, and each Guarantor further agrees to cooperate with Lender at no cost to Guarantor (except as set forth in the Loan Agreement) in connection with any sale, assignment, securitization, conveyance, alienation or pledge or other transfer made, including the delivery of such amendments to this Guaranty as may be reasonably requested by the Lender or desired by the Rating Agencies or otherwise to effect a Securitization; provided, however, that such Guarantor shall not be required to modify or amend this Guaranty if such modification or amendment would modify or amend any of the economic terms or conditions of this Guaranty or impose any additional liability or obligation on such Guarantor. Lender may forward to each Investor or any Rating Agency, each prospective Investor, and any organization maintaining databases on the underwriting and performance of commercial mortgage loans, all documents and information which Lender now has or may hereafter acquire relating to the Loan or to Lender or the Property.
Loan Sales. The Bank intends to sell the loans originated from this program to Xxxxxxx. WebBank Loan Approval Policy Pre-registration page: Lender registration: Screen for borrowers with self-reported poor credit: Registration for borrowers: Check your email: Email that goes to user: Getting started: (after verifying email) Personal Info: Verify your address: Bank info: Employment info: Confirm info: Identity verification questions: Create listing: Set your starting rate: Your credit profile: (this is a pop-up window from the “Set your rate” page Preview listing: Confirm listing: (1 of 2) Confirm listing: (2 of 2) Listing created, invite friends: After inviting friends:
Loan Sales. Any loan or interest in any of its loans, sold by First Security to any other person has been sold without recourse of collectibility or any agreement to repurchase the loan.
Loan Sales. Lender shall have the unrestricted right at any time or from time to time, and without Borrower's consent, to assign all or any portion of its rights and obligations hereunder to one or more banks or other financial institutions (each, an "Assignee"), and Borrower agrees that it shall execute, or cause to be executed, such documents, including without limitation, amendments to this Note and to any other documents, instruments and agreements executed in connection herewith as Lender and any such Assignee shall deem reasonably necessary to effect the foregoing; provided, however, that no such amendment and/or no such other documents shall increase the amounts payable by Borrower hereunder and/or under the Line of Credit Agreement and/or increase Borrower's other obligations hereunder and/or under the Line of Credit Agreement. Any Assignee shall be required, to the extent of the interest assigned to it, to assume, in a writing delivered to Borrower, Lender's obligations hereunder and under the Line of Credit Agreement. In addition, at the request of Lender and any such Assignee, Borrower shall issue one or more new promissory notes (and the face amount of all of the promissory notes issued by Borrower pursuant hereto may not exceed the then maximum principal amount available under the Line of Credit Agreement), as applicable, to any such Assignee and, if Lender has retained any of its rights and obligations hereunder following such assignment, to Lender, which new promissory notes shall be issued in replacement of, but not in discharge of, the liability evidenced by the promissory note held by Lender prior to such assignment and shall reflect the amount of the respective commitments and loans held by such Assignee and Lender after giving effect to such assignment. Each of the promissory notes being replaced shall be marked "refinanced and replaced." Upon the execution and delivery of appropriate assignment documentation, amendments and any other documentation reasonably required by Lender (as provided in this PARAGRAPH) in connection with such assignment, and the payment by Assignee of the purchase price agreed to by Lender and such Assignee, such Assignee shall be a party to this Note and shall have all of the rights and obligations of Lender hereunder (and under any and all other documents, instruments and agreements executed in connection herewith) to the extent that such rights and obligations have been assigned by Lender pursuant to the assignment docume...
Loan Sales. ( 1 ) The Board shall notify the Assistant Deputy Comptroller at least twenty (20) days before all portfolio type loan sales not in the ordinary course of business. The information reported shall, at a minimum, include the following:
(a) the name of the borrower;
(b) the origination date;
(c) the original amount;
(d) the original terms;
(e) the original interest rate;
(f) the original collateral, value and basis for value;
(g) the present status: outstanding balance, days past due, accrual status, collateral and value;
(h) the current risk rating and date of rating; and
(i) the terms of the sale.
Loan Sales. 29.1 In the event Lender desires to sell or otherwise transfer from the Servicer system any loans that are serviced pursuant to this Agreement prior to a scheduled termination or breach of this Agreement, the Lender will sell the Education Loans to an eligible lender maintaining an agreement with Servicer, in order for the sale to cause no disruption in service, or change in servicer for the borrower.
29.2 The intent of this Section 29 is to assure that all loans serviced by Servicer pursuant to this Agreement will remain with Servicer for the servicing life of the loan.
Loan Sales. Any Consumer Loan originated or held by the Parent or any Affiliate thereof is not sold to the Borrower in compliance with the terms of the Approved Purchase Agreement.
Loan Sales. The Assuming Bank shall be permitted to sell up to two and one-half percent (2.5%) of the Single Family Shared-Loss Loans and the Shared-Loss Loans (based on the aggregate unpaid principal balance of such Loans as of Bank Closing) on an annual basis without the Receiver’s consent, and losses on such sales shall constitute Portfolio Losses (in respect of Single Family Shared-Loss Loans) and Charge-Offs (in respect of Shared-Loss Loans); provided that (a) such sales are conducted by means of sealed bid sales to third parties, not including any of the Assuming Bank’s affiliates, contractors or any affiliates of such contractors, (b) in connection with any such sale, the Assuming bank retains a third party financial advisor instructed to maximize sale proceeds, (c) the highest economic bid received in respect of any sale shall be the winning bid, and (d) the Assuming Bank complies with such other procedures as are agreed upon by the Assuming Bank and the Receiver (a sale meeting the criteria set forth in this sentence to be referred to herein as a “Permitted Sale”). In connection with any Permitted Sale that is a bulk sale, in order to calculate the gain/loss on each Loan, the aggregate sales price and costs of sale shall be allocated among the Loans sold pro rata based on the unpaid principal balance of each Loan included in such sale relative to the aggregate unpaid principal balance of all Loans included in such sale.
Loan Sales. (a) Notwithstanding anything in this Indenture to the contrary, at all times prior to the satisfaction and discharge of this Indenture, the Issuer shall have the right to direct the Participation Agent to release Mortgage Loans from the Participation Agreement and contribute such Mortgage Loans to the Taxable REIT Subsidiary for sale to unaffiliated third parties in arm’s length transactions at any time without restriction so long as for a period of one year following the Closing Date, the aggregate Net Loan Sale Proceeds do not exceed $88,750,000 (the “Loan Sale Conditions”); provided, however, beginning with the second Payment Date, if the Debt Enhancement Percentage as of the most recent Payment Date is less than two-thirds of the Initial Debt Enhancement Percentage and such sale would cause a further reduction in the Debt Enhancement Percentage (calculated assuming the entire sale price, less any unreimbursed Servicing Advances, is applied to reduce the aggregate Note Amount of the Class A Notes), the proposed sale will be prohibited unless the consent of the Holders of the Class A Notes has been obtained. The Issuer may sell such Mortgage Loans to an Affiliate in an interim step as part of the ultimate sale to an unaffiliated third party. Additionally, the Issuer may not direct the Participation Agent to release any Mortgage Loans from the Participation Agreement and contribute such Mortgage Loans to the Taxable REIT Subsidiary for sale on or after the date on which the Indenture Trustee publishes notice of a Sale pursuant to Section 5.14.
(b) In connection with any sale of a pool of Mortgage Loans which satisfies the conditions set forth in Section 8.06(a), the Issuer shall be permitted to direct the Participation Agent to release from the Participation Agreement and contribute such pool of Mortgage Loans to the Taxable REIT Subsidiary as part of the ultimate sale to an unaffiliated third party.
(c) At any time prior to the satisfaction and discharge of this Indenture, in connection with the Issuer’s right to direct the Participation Agent to release from the Participation Agreement and contribute a pool of Mortgage Loans to the Taxable REIT Subsidiary in order to effect a sale of such Mortgage Loans, the Issuer may, but shall not be required to:
(i) direct the Indenture Trustee, the Custodian, the Taxable REIT Subsidiary, the Participation Agent and the Servicer to enter into a Bailee Agreement with the Loan Purchaser with respect to any Mortgage Lo...
