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No Advancing Sample Clauses

No Advancing. Under no circumstance shall the Primary Servicer make or have an obligation to make any Advances. The Primary Servicer will promptly notify the Master Servicer in accordance with the Task Description if the Primary Servicer believes that a Servicing Advance is or will be required to be made with respect to any Mortgage Loan.
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No Advancing. Under no circumstance shall the Primary Servicer make or have an obligation to make any Advances.
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No Advancing. Under no circumstance shall the Subservicer make or have an obligation to make any Advances. The Subservicer will promptly notify the Master Servicer in accordance with the Task Description if the Subservicer believes that a Servicing Advance is or will be required to be made with respect to any Mortgage Loan.
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No Advancing. Section 5.6
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No Advancing. 20 Section 5.6
Sample 1
No Advancing. (a) The Primary Servicer shall neither make, nor have an obligation to make, any Advances with respect to any Mortgage Loan, except for advances required to be made by the Primary Servicer pursuant to Section 5.7(b). (b) Not later than each Primary Servicer Remittance Date, the Primary Servicer shall advance from its own funds the full amount of each Scheduled Payment (net of an amount equal to the Primary Servicer Fee that would be payable from the Scheduled Payment upon its receipt) for each Post Determination Date Mortgage Loan to the extent such Scheduled Payment is due (without regard to grace periods) in the month in which such Primary Service Remittance Date occurs is not received by the Primary Servicer Remittance Date; provided, however, that the Primary Servicer shall not be required to make such Primary Servicer P&I Advance as to any Post Determination Date Mortgage Loan the Mortgagor under which has theretofore notified the Primary Servicer in writing (and the Primary Servicer has delivered a copy thereof to the Master Servicer by facsimile transmission) to the effect that such Mortgagor will not make the Scheduled Payment for which such Primary Servicer P&I Advance would otherwise be required. Each such Primary Servicer P&I Advance shall be made by deposit to the Primary Servicer's Collection Account established under Section 2.1(c)(i). As to each such Post Determination Date Mortgage Loan for which the Primary Servicer has made such a Primary Servicer P&I Advance: (i) if and to the extent that the related Mortgagor makes the related Scheduled Payment on or before the expiration of the Due Date and grace period, the Primary Servicer shall, upon such payment, reimburse itself in the amount so paid by withdrawal from the Primary Servicer's Collection Account as provided in Section 2.1(c)(iv) of this Primary Servicing Agreement and shall simultaneously notify the Master Servicer of such reimbursement and (ii) the Master Servicer shall, not later than one Business Day after the expiration of the Due Date plus grace period, reimburse the Primary Servicer in the full amount of the Primary Servicer P&I Advance made by the Primary Servicer in respect of such Mortgage Loan in that month pursuant to the first sentence of this subsection (b), except to the extent that the Primary Servicer has reimbursed itself therefor and notified the Master Servicer pursuant to the preceding clause (i). Notwithstanding any provision of the foregoing to the contrary, wi...
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Related to No Advancing

  • NO ADVANCE PAYMENT No advance payments shall be made for any products or services furnished by Contractor pursuant to this Master Contract.

  • Each Advance The obligation of each Lender to make any Loan (other than a conversion of Loans to the other Type or a continuation of Revolver Loans as LIBOR Loans) is subject to the following conditions precedent: (a) Administrative Agent shall have timely received a Loan Notice (or in the case of a Swing Line Loan, a Swing Line Loan Notice) or the applicable L/C Issuer shall have timely received the applicable L/C Agreement; (b) the applicable L/C Issuer shall have received any applicable L/C fee; (c) all of the representations and warranties of the Companies in the Loan Papers are true and correct in all material respects (unless they speak to a specific date or are based on facts which have changed by transactions contemplated or permitted by this Agreement); (d) no Material Adverse Event, Default or Potential Default exists or would result from the proposed funding of such Loans or issuance of L/Cs; and (e) the funding of the Loans or issuance of the L/Cs is permitted by Law. Upon Administrative Agent’s reasonable request, Borrower shall deliver to Administrative Agent evidence substantiating any of the matters in the Loan Papers that are necessary to enable Borrower to qualify for the Loans or L/Cs. Each condition precedent in this Agreement is material to the transactions contemplated by this Agreement, and time is of the essence with respect to each condition precedent. Subject to the prior approval of Required Lenders, Lenders may fund any Loan, and the applicable L/C Issuer may issue any L/C, without all conditions being satisfied, but, to the extent permitted by Law, that funding and issuance shall not be deemed to be a waiver of the requirement that each condition precedent be satisfied as a prerequisite for any subsequent funding or issuance, unless Required Lenders specifically waive each item in writing. Each Loan Notice (other than a Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Revolver Loans as LIBOR Loans), each Swing Line Loan Notice, and each L/C Agreement submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section 7.2 have been satisfied on and as of the date of the applicable Loan or issuance of the applicable L/C. Notwithstanding anything to the contrary set forth in this Section 7.2, Lenders will not be obligated to honor any Loan Notice (including a Loan Notice converting Revolver Loans that are Base Rate Loans to Revolver Loans that are LIBOR Loans or continuing Revolver Loans that are LIBOR Loans) or Swing Line Loan Notice if a Default or Potential Default exists or would result after giving effect to the proposed funding, conversion, or continuation of such Loans or issuance of L/Cs.

  • Loans or Advances Borrower shall not make any loans or advances to any individual, partnership, corporation, limited liability company, trust, or other organization or person, including without limitation its officers and employees; provided, however, that Borrower may make advances to its employees, including its officers, with respect to expenses incurred or to be incurred by such employees in the ordinary course of business which expenses are reimbursable by Borrower; and provided further, however, that Borrower may extend credit in the ordinary course of business in accordance with customary trade practices.

  • The Advances The Liquidity Provider hereby irrevocably agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until 1:00 p.m. (New York City time) on the Expiry Date (unless the obligations of the Liquidity Provider shall be earlier terminated in accordance with the terms of Section 2.04(b)) in an aggregate amount at any time outstanding not to exceed the Maximum Commitment.

  • No Loans or Advances to Affiliates There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective family members, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • No Borrowing The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness except for the Notes.

  • Agreement to Advance Funds The Investor agrees to advance the amount specified in the Advance Notice to the Company after the completion of each of the following conditions and the other conditions set forth in this Agreement: (a) the execution and delivery by the Company, and the Investor, of this Agreement and the Exhibits hereto; (b) The Escrow Agent shall have received the shares of Common Stock applicable to the Advance in accordance with Section 2.3. Such shares shall be free of restrictive legends. (c) the Company's Registration Statement with respect to the resale of the Registrable Securities in accordance with the terms of the Registration Rights Agreement shall have been declared effective by the SEC; (d) the Company shall have obtained all material permits and qualifications required by any applicable state for the offer and sale of the Registrable Securities, or shall have the availability of exemptions therefrom. The sale and issuance of the Registrable Securities shall be legally permitted by all laws and regulations to which the Company is subject; (e) the Company shall have filed with the Commission in a timely manner all reports, notices and other documents required of a "reporting company" under the Exchange Act and applicable Commission regulations; (f) the fees as set forth in Section 12.4 below shall have been paid or can be withheld as provided in Section 2.3; and (g) the conditions set forth in Section 7.2 shall have been satisfied. (h) the Company shall have provided to the Investor an acknowledgement, from the Company's independent certified public accountants as to its ability to provide all consents required in order to file a registration statement in connection with this transaction; (i) The Company's transfer agent shall be DWAC eligible.

  • Revolving Advances (i) Subject to and upon the terms and conditions of this Agreement, Borrowers may request Advances in an aggregate outstanding amount not to exceed the lesser of (i) the Revolving Line or (ii) the Borrowing Base. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1(a) may be repaid and reborrowed at any time prior to the Revolving Maturity Date, at which time all Advances under this Section 2.1(a) shall be immediately due and payable. Interest hereunder shall be due and payable on the last business day of each month during the term hereof. Borrowers may prepay any Advances without penalty or premium. Borrowers shall use the proceeds of the Advances for working capital purposes. (ii) Whenever a Borrower desires an Advance, such Borrower will notify Bank by email, facsimile transmission or telephone no later than 2:00 p.m. Pacific Time, on the Business Day that is one day before the Business Day the Advance is to be made. Each such notification shall be promptly confirmed by a Borrowing Base Certificate in substantially the form of Exhibit C hereto. Bank is authorized to make Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any email or telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrowers shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section to a Borrower’s deposit account at Bank.

  • No Equity Participation or Contingent Interest No Mortgage Loan contains any equity participation by the lender or provides for negative amortization (except that the ARD Loan may provide for the accrual of interest at an increased rate after the Anticipated Repayment Date) or for any contingent or additional interest in the form of participation in the cash flow of the related Mortgaged Property.

  • No Outstanding Loans or Other Extensions of Credit The Company does not have any outstanding extension of credit, in the form of a personal loan, to or for any director or executive officer (or equivalent thereof) of the Company except for such extensions of credit as are expressly permitted by Section 13(k) of the Exchange Act.

Most Referenced Clauses

Most Referenced Definitions