Common use of Payments and Transfers to the Reserve Fund Clause in Contracts

Payments and Transfers to the Reserve Fund. The Lender shall set the premium charges payable to the Reserve Fund by the Lender and the Borrower in connection with an Eligible Loan being filed for enrollment with the VSBFA pursuant to Section 4.2. The amount paid by the Borrower and Lender shall not be less than 2.0% of the amount of the Enrolled Loan and shall not be greater than 7.0% of the amount of the Enrolled Loan. The amount paid by the Lender shall be equal to the amount paid by the Borrower. The Lender may recover from the Borrower the cost of the Lender’s payment of the premium charges described in this Section in any manner in which the Lender and Borrower agree. When enrolling an Eligible Loan under Article IV, the VSBFA shall transfer into the Reserve Fund an amount determined as follows:

Payments and Transfers to the Reserve Fund. The Lender shall set the premium charges payable to the Reserve Fund by the Lender and the Borrower in connection with an Eligible Loan being filed for enrollment with the VSBFA pursuant to Section 4.2. The amount paid by the Borrower and Lender shall not be less than 2.0% of the amount of the Enrolled Loan and shall not be greater than 7.0% of the amount of the Enrolled Loan. The amount paid by the Lender shall be equal to the amount paid by the Borrower. The Lender may recover from the Borrower the cost of the Lender’s payment of the premium charges described in this Section in any manner in which the Lender Xxxxxx and Borrower agree. When enrolling an Eligible Loan under Article IV, the VSBFA shall transfer into the Reserve Fund an amount determined as follows: