POSSESSION OF LOAN DOCUMENTATION Sample Clauses

POSSESSION OF LOAN DOCUMENTATION. Seller further represents and warrants that as of the date Buyer funds the Purchase Price for an Interest, as to such Interest and underlying Loan: (1) Seller is authorized to sell the Interests described in ARTICLE I, Section 1.01 of this Agreement; (2) Seller does not hold, but rather has caused to be delivered or will cause to be delivered to Custodian within three (3) business days of the date Buyer funds the Purchase Price for an Interest each of the documents which together constitute a Mortgage File (and it is expressly agreed that until delivery to the Custodian, Seller's agents, including any title company in possession of any such documents, shall be deemed to hold such documents in trust for Buyer and the Custodian); and (3) Seller has and shall retain in Seller's possession originals of all other instruments evidencing, securing, pertaining to, or representing each such Loan and all records required to be maintained for such Loans under OTS and FDIC regulations, including, but not by way of limitation, (A) a copy of the separate assignment of rents, if any (certified by the title company which closed the Loan to be a true and correct copy of the original sent for recording), (B) the Loan Application, (C) financial statement of the loan debtor current at the time the Loan Application was made (unless attached to or incorporated in the Loan Application), (D) appropriate evidence indicating loan debtor's receipt of the disclosure materials as required by the applicable Loan and disclosure rules and regulations, (E) the Appraisal, (F) properly signed loan closing settlement statement or statements showing the ultimate recipient(s) of all proceeds of the Loans, (G) the Insurance Policy, (H) such flood insurance policy as is required under the Flood Disaster Protection Act of 1973, as amended, and implementing and other regulations, (I) the Title Policy, (J) a copy of the Take-Out Commitment, (K) any and all documents, instruments or agreements executed in connection with or related to the Loans or the loan debtor, and (L) all such other documents required to be obtained by Buyer under applicable OTS and FDIC regulations as if it were the originator of the Loan.
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Related to POSSESSION OF LOAN DOCUMENTATION

  • Correction of Loan Documents Bank may correct patent errors and fill in any blanks in the Loan Documents consistent with the agreement of the parties.

  • Execution of Loan Documents Unless the Administrative Agent otherwise specifies with respect to any Loan Document, (a) this Agreement and any other Loan Document may be executed in any number of counterparts and any party hereto or thereto may execute any counterpart, each of which when executed and delivered will be deemed to be an original and all of which counterparts of this Agreement or any other Loan Document, as the case may be, when taken together will be deemed to be but one and the same instrument and (b) execution of any such counterpart may be evidenced by a telecopier transmission of the signature of such party. The execution of this Agreement or any other Loan Document by any party hereto or thereto will not become effective until counterparts hereof or thereof, as the case may be, have been executed by all the parties hereto or thereto.

  • Confirmation of Loan Documents Except as expressly contemplated hereby, the terms, provisions, conditions and covenants of the Credit Agreement, as amended by this Amendment, and the other Loan Documents remain in full force and effect and are hereby ratified and confirmed, and the execution, delivery and performance of this Amendment shall not, except as expressly set forth in this Amendment, operate as a waiver of, consent to or amendment of any term, provision, condition or covenant thereof. Without limiting the generality of the foregoing, except pursuant hereto or as expressly contemplated or amended hereby, nothing contained herein shall be deemed: (a) to constitute a waiver of compliance or consent to noncompliance by any Loan Party with respect to any term, provision, condition or covenant of the Credit Agreement or any other Loan Document; (b) to prejudice any right or remedy that the Administrative Agent or any Lender may now have or may have in the future under or in connection with the Credit Agreement or any other Loan Document; or (c) to constitute a waiver of compliance or consent to noncompliance by the Borrower with respect to the terms, provisions, conditions and covenants of the Credit Agreement and the other Loan Documents made the subject hereof.

  • RATIFICATION OF LOAN DOCUMENTS AND COLLATERAL The Loan Documents are ratified and affirmed by Borrower and shall remain in full force and effect as modified herein. Any property or rights to or interests in property granted as security in the Loan Documents shall remain as security for the Loan and the obligations of Borrower in the Loan Documents.

  • Modification of Loan Documents At any time or from time to time and any number of times, without notice to Guarantor and without affecting the liability of Guarantor, all of the following will apply:

  • Modification of Loan Documents, etc Neither the Administrative Agent nor any other Secured Party shall incur any liability to any Guarantor as a result of any of the following, and none of the following shall impair or release this Guaranty or any of the obligations of any Guarantor under this Guaranty:

  • Reaffirmation of Loan Documents Any and all of the terms and provisions of the Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in full force and effect. This Amendment shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations as it may be increased pursuant hereto. This Amendment constitutes a Loan Document.

  • RATIFICATION OF LOAN DOCUMENTS Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral granted to the Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations.

  • Revocation of Loan Documents Any Loan Party shall (or shall attempt to) disavow, revoke or terminate any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof).

  • Reaffirmation of Loan Documents and Liens Except as amended and modified hereby, any and all of the terms and provisions of the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby in all respects ratified and confirmed by each Credit Party. Each Credit Party hereby agrees that the amendments and modifications herein contained shall in no manner affect or impair the liabilities, duties and obligations of any Credit Party under the Credit Agreement and the other Loan Documents or the Liens securing the payment and performance thereof.

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