Common use of Prepayment for Renewed or Extended Mortgages Clause in Contracts

Prepayment for Renewed or Extended Mortgages. The prepayment provisions set out in this Article are available only during the original Term. If the terms of the Mortgage are renewed or extended and the Renewal Agreement contains prepayment provisions, you agree to be bound by the prepayment provisions set out in the Renewal Agreement. If the terms of the Mortgage are renewed or extended and the Renewal Agreement does not contain prepayment provisions, you agree to abide by the prepayment provisions set out in your original Commitment Letter.

Appears in 3 contracts

Samples: Mortgage, www.equitablebank.ca, www.equitablebank.ca

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Prepayment for Renewed or Extended Mortgages. The prepayment provisions set out in this Article are available only during the original Term. If the terms of the Mortgage are renewed or extended and the Renewal Agreement contains prepayment provisions, you agree to be bound by the prepayment provisions set out in the Renewal Agreement. If the terms of the Mortgage are renewed or extended and the Renewal Agreement does not contain prepayment provisions, provisions you agree to abide by the prepayment provisions set out in your the original Commitment Letter.

Appears in 2 contracts

Samples: www.equitablebank.ca, www.equitablebank.ca

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Prepayment for Renewed or Extended Mortgages. The prepayment provisions set out in this Article are available only during the original Term. If the terms of the Mortgage are renewed or extended and the Renewal Agreement contains prepayment provisions, you agree to be bound by the prepayment provisions set out in the Renewal Agreement. If the terms of the Mortgage are renewed or extended and the Renewal Agreement does not contain prepayment provisions, provisions you agree to abide by the prepayment provisions set out in your the original Commitment LetterCredit Documents.

Appears in 1 contract

Samples: Mortgage

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