Common use of Noncompliance Termination Clause in Contracts

Noncompliance Termination. In the event that Servicer does not remedy a Noncompliance Event as required by Section 5.03, Lender shall be entitled to terminate this Loan Origination Agreement upon 10 days prior written notice. Notwithstanding the foregoing, Lender shall continue to be obligated to fund all unfunded Loans that conform to the Credit Policy approved as of the day prior to the termination date set forth in the notice of the Noncompliance Event.

Appears in 3 contracts

Samples: Loan Origination Agreement, Loan Origination Agreement (GreenSky, Inc.), Loan Origination Agreement (GreenSky, Inc.)

AutoNDA by SimpleDocs

Noncompliance Termination. In the event that Servicer does not remedy a Noncompliance Event as required by Section 5.03, Lender shall be entitled to terminate this Loan Origination Agreement upon 10 days prior written notice. Notwithstanding the foregoing, Lender shall continue to be obligated to fund all approved but unfunded Category A Loans that conform to the Credit Policy and all approved but unfunded Category B Loans as of the day prior to the termination date set forth in the notice of the Noncompliance Event.

Appears in 1 contract

Samples: Loan Origination Agreement (GreenSky, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!