QUALIFICATION AS LENDER Sample Clauses

QUALIFICATION AS LENDER. Seller is approved by the U.S. Department of Housing and Urban Development (HUD) as a lender and servicer of mortgage loans and meets all applicable HUD regulations so as to be entitled to originate and service mortgage loans sold to or insured by HUD. Seller is also an approved servicer of mortgage loans to the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal National Mortgage Association (FNMA) and meets all applicable FHLMC and FNMA guidelines so as to be entitled to service mortgage loans sold to FHLMC and FNMA. In addition Seller is in good standing and eligible to sell mortgage loans to each of FHLMC and FNMA. Seller is in good standing and is eligible as a mortgage lender and servicer under applicable rules, regulations and procedures promulgated by each of the mortgage participation or sale of mortgage-backed bond and pass-through certificate programs for which Seller originates and services mortgage loans.
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QUALIFICATION AS LENDER. Purchaser is approved by the U.S. Department of Housing and Urban Development (HUD) as a lender and servicer of mortgage loans and meets all applicable HUD regulations so as to be entitled to originate and service mortgage loans sold to or insured by HUD. Purchaser is also an approved servicer of mortgage loans to the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal National Mortgage Association (FNMA) and meets all applicable FHLMC and FNMA guidelines so as to be entitled to service mortgage loans sold to FHLMC and FNMA. In addition Purchaser is in good standing and eligible to sell mortgage loans to each of FHLMC and FNMA.
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QUALIFICATION AS LENDER. 21 2.15 SERVICING. ..............................................21 2.16
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QUALIFICATION AS LENDER. The Company is approved by the U.S. Department of Housing and Urban Development ("HUD") as a lender and servicer of mortgage loans and meets all applicable HUD regulations so as to be entitled to originate and service mortgage loans sold to or insured by HUD. The Company is also an approved servicer of mortgage loans to the Federal Home Loan Mortgage Corporation ("FHLMC") and the Federal National Mortgage Association ("FNMA") and meets all applicable FHLMC and FNMA guidelines so as to be entitled to service mortgage loans sold to FHLMC and FNMA. In addition, the Company is in good standing and eligible to sell mortgage loans to each of FHLMC and FNMA. The Company is in good standing and is eligible as a mortgage lender and servicer under applicable rules, regulations and procedures promulgated by each of the mortgage participation or sale of mortgage-backed bond or pass-through certificate programs for which the Company originates or services mortgage loans. The Company is in compliance in all material respects with all eligibility requirements under any correspondent or servicing arrangement pursuant to which the Company services mortgage loans.
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Related to QUALIFICATION AS LENDER

  • Qualification as a REIT The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to

  • Qualification of Servicer The Servicer is duly incorporated, validly existing and in good standing under the laws of the state of its incorporation and is duly qualified to do business and is in good standing under the laws of each jurisdiction that requires such qualification wherein it owns or leases any material properties, or in which it conducts any material business or in which the performance of its duties under this Agreement would require such qualification, except where the failure to so qualify would not have a material adverse effect on (a) the Servicer's performance of its obligations under this Agreement, (b) the value or marketability of the Mortgage Loans, or (c) the ability to foreclose on the related Mortgaged Properties.

  • Qualification and Taxation as a REIT The Company will use its best efforts to qualify for taxation as a REIT under the Code for its taxable year ending December 31, 2016 and thereafter, unless the Board determines that it is no longer in the best interests of the Company to continue to qualify as REIT.

  • Existence, Qualification, Etc Except as otherwise expressly permitted under Section 8.7, do or cause to be done all things necessary to preserve and keep in full force and effect its existence and all material rights and franchises, and maintain its license or qualification to do business as a foreign corporation and good standing in each jurisdiction in which its ownership or lease of property or the nature of its business makes such license or qualification necessary;

  • Existence; Qualification The Borrowers will at all times preserve and keep in full force and effect their existence as a limited partnership, limited liability company, or corporation, as the case may be, and all rights and franchises material to its business, including their qualification to do business in each state where it is required by law to so qualify. Without limitation of the foregoing, each Borrower and, to the extent required by applicable law, General Partner and Member, shall at all times be qualified to do business in each of the states where the Properties are located.

  • Qualification Rights Masterworks will have the right to request that the Company qualify on Form 1-A, or a comparable form, the resale of any Class A shares beneficially owned by Masterworks or any entity administered by Masterworks. There are no limitations or restrictions on the size or frequency of such qualification requests, other than pursuant to applicable law, provided, that all costs associated with any such qualification shall be the responsibility of Masterworks.

  • Qualification and Good Standing Each Loan Party is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had and will not have a Material Adverse Effect.

  • Qualifications, Legal Investment All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful sale and issuance of the Securities and Warrant Shares shall have been duly obtained and shall be effective on and as of the Closing. No stop order or other order enjoining the sale of the Securities or Warrant Shares shall have been issued and no proceedings for such purpose shall be pending or, to the knowledge of the Company, threatened by the SEC, or any commissioner of corporations or similar officer of any state having jurisdiction over this transaction. At the time of the Closing, the sale and issuance of the Securities and the Warrant Shares shall be legally permitted by all laws and regulations to which the Purchasers and the Company are subject. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction will have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

  • Qualification and Number Each Trustee shall be a natural person. A Trustee need not be a citizen of the United States or a resident of the State of Delaware. By a majority vote or consent of the Trustees as may then be in office, the Trustees may from time to time establish the number of Trustees. No decrease in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term, but the number of Trustees may be decreased in conjunction with the resignation, retirement or removal of a Trustee pursuant to Section 5.4 hereof.

  • Qualification; Compliance 50 (d) Liabilities . . . . . . . . . . . . . . . . . . . . 50 (e) Welfare Plans . . . . . . . . . . . . . . . . . . . 50 (f) Documents made Available . . . . . . . . . . . . . 51 (g) Payments Resulting from Merger . . . . . . . . . . 51 (h) Labor Agreements . . . . . . . . . . . . . . . . . 52 Section 6.11

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