Common use of Loan Servicing Clause in Contracts

Loan Servicing. Lender shall remain obligated under the terms and conditions of the 750 Agreement and shall continue to service the Loan in the manner set forth in the 750 Agreement and SBA Loan Program Requirements. Modifications to the 750 Agreement or the Note that do not affect the repayment terms of the Note may be effected by Lender or SBA without the consent of Registered Holder (for itself and any subsequent Registered Holder). (a) Xxxxxx, at the request of Xxxxxxxx, may grant one deferment of Xxxxxxxx’s scheduled payments for a continuous period not to exceed three (3) months of past or future installments. Lender shall immediately notify FTA and the SBA Servicing Office in writing of any deferment. The notification will include: (i) the SBA Loan Number; (ii) the Borrower’s name; (iii) the terms of such deferment; (iv) the date Borrower is to resume payment; and (v) reconfirmation of the basis of interest calculation (e.g. 30/360 or Actual Days/365). Interest is not waived, only deferred. (b) Subsequent to the deferment period, payments received from Borrower will first be applied to accrued interest until such time as interest is paid to a current status, then to principal and interest. (c) Registered Holder may not demand repurchase of the Guaranteed Interest during the deferment period, or before Xxxxxxxx’s failure to pay the first scheduled installment following the deferment period. (d) Xxxxxx shall not authorize any additional deferment, or any extension of Loan maturity without the prior written consent of the Registered Holder. (e) No change in terms and conditions of repayment of the Note other than the deferment authorized in this Section shall be made by Lender or SBA without the prior written consent of Registered Holder. A request for such payment modification must be forwarded by Xxxxxx to FTA. FTA will forward the proposed modification to Registered Holder. The Registered Holder must respond to the request within ten (10) business days of the date of the request from FTA. Lack of response will be construed by Xxxxxx and FTA as non-consent, and appropriate action under Sections 6.1, 6.2 and 8.4 of this Agreement will be taken. FTA, at the discretion of Registered Holder, may provide the name of Registered Holder to Lender for direct negotiation of the modification.

Loan Servicing. Lender shall remain obligated under the terms and conditions of the 750 Agreement Agreement, and shall continue to service the Loan in the manner set forth in the 750 Agreement and SBA Loan Program Requirements. Modifications to the 750 Agreement or the Note that do not affect the repayment terms of the Note may be effected by Lender or SBA without the consent of Registered Holder (for itself and any subsequent Registered Holder). (a) . Xxxxxx, at the request of Xxxxxxxxborrower, may grant one deferment of Xxxxxxxx’s 's scheduled payments for a continuous period not to exceed three (3) months of past or future installments. Lender shall immediately notify FTA and the SBA Servicing Office in writing of any deferment. The notification will include: include (i) the SBA Loan Number; , (ii) the Borrower’s 's name; , (iii) the terms of such deferment; , (iv) the date Borrower is to resume payment; and payment and (v) reconfirmation of the basis of interest calculation (e.g. 30/360 or Actual Days/365). Interest is not waived, only deferred. (b) . Subsequent to the deferment period, payments received from Borrower will first be applied to accrued interest until such time as interest is paid to a current status, then to principal and interest. (c) . Registered Holder may not demand repurchase of the Guaranteed Interest during the deferment period, or before Xxxxxxxx’s 's failure to pay the first scheduled installment following the deferment period. (d) Xxxxxx . Lender shall not authorize any additional deferment, or any extension of Loan maturity without the prior written consent of the Registered Holder. (e) . No change in terms and conditions of repayment of the Note other than the deferment authorized in this Section paragraph shall be made by Lender or SBA without the prior written consent of Registered Holder. A request for such payment modification must be forwarded by Xxxxxx to FTA. FTA will forward the proposed modification to Registered Holder. The Registered Holder must respond to the request within ten thirty (1030) business calendar days of the date of the request from FTA. Lack of response will be construed by Xxxxxx and FTA as non-consentnonconsent, and appropriate action under Sections 6.1Paragraphs 10, 6.2 and 8.4 11 or 20 of this Agreement will be taken. FTA, at the discretion of Registered Holder, may provide the name of Registered Holder to Lender for direct negotiation of the modification.

Loan Servicing. Lender shall remain obligated under the terms and conditions of the 750 Agreement and shall continue to service the Loan in the manner set forth in the 750 Agreement and SBA Loan Program Requirements. Modifications to the 750 Agreement or the Note that do not affect the repayment terms of the Note may be effected by Lender or SBA without the consent of Registered Holder (for itself and any subsequent Registered Holder). (a) Xxxxxx, at the request of Xxxxxxxx, may grant one deferment of Xxxxxxxx’s scheduled payments for a continuous period not to exceed three (3) months of past or future installments. Lender shall immediately notify FTA and the SBA Servicing Office in writing of any deferment. The notification will include: (i) the SBA Loan Number; (ii) the Borrower’s name; (iii) the terms of such deferment; (iv) the date Borrower is to resume payment; and (v) reconfirmation of the basis of interest calculation (e.g. 30/360 or Actual Days/365). Interest is not waived, only deferred. (b) Subsequent to the deferment period, payments received from Borrower will first be applied to accrued interest until such time as interest is paid to a current status, then to principal and interest.. SAMPLE (c) Registered Holder may not demand repurchase of the Guaranteed Interest during the deferment period, or before Xxxxxxxx’s failure to pay the first scheduled installment following the deferment period. (d) Xxxxxx shall not authorize any additional deferment, or any extension of Loan maturity without the prior written consent of the Registered Holder. (e) No change in terms and conditions of repayment of the Note other than the deferment authorized in this Section shall be made by Lender or SBA without the prior written consent of Registered Holder. A request for such payment modification must be forwarded by Xxxxxx to FTA. FTA will forward the proposed modification to Registered Holder. The Registered Holder must respond to the request within ten (10) business days of the date of the request from FTA. Lack of response will be construed by Xxxxxx and FTA as non-consent, and appropriate action under Sections 6.1, 6.2 and 8.4 of this Agreement will be taken. FTA, at the discretion of Registered Holder, may provide the name of Registered Holder to Lender for direct negotiation of the modification.