Common use of Receipt of Authorization Clause in Contracts

Receipt of Authorization. Borrower has received a copy of this Authorization from Lender, and acknowledges that: (a) The Authorization is not a commitment by Lender to make a loan to Borrower; SBA Loan Number: PLP 48794050-02 FL SBA Loan Name: Health Insurance Innovations Page 7 (7a Wizard 2009.4 (w7)) (b) The Authorization is between Lender and SBA and creates no third party rights or benefits to Borrower; (c) The Note will require Borrower to give Lender prior notice of intent to prepay. (d) If Borrower defaults on Loan, SBA may be required to pay Lender under the SBA guarantee. SBA may then seek recovery of these funds from Borrower. Under SBA regulations, 13 CFR Part 101, Borrower may not claim or assert against SBA any immunities or defenses available under local law to defeat, modify or otherwise limit Borrower’s obligation to repay to SBA any funds advanced by Lender to Borrower. (e) Payments by SBA to Lender under SBA’s guarantee will not apply to the Loan account of Borrower, or diminish the indebtedness of Borrower under the Note or the obligations of any personal guarantor of the Note.

Receipt of Authorization. Borrower has received a copy of this SBA Authorization #EWCP 173438 6000 and SBA Form 793, Notice to New SBA Borrower, from Lender, ; and acknowledges that: (a) The Authorization is not a commitment by Lender to make a loan to Borrower; SBA Loan Number: PLP 48794050-02 FL SBA Loan Name: Health Insurance Innovations Page 7 (7a Wizard 2009.4 (w7)); (b) The Authorization is between Lender and SBA and creates no third party rights or benefits to Borrower; (c) The Note will require Borrower to give Lender prior notice of intent to prepayprepay the loan. (d) If Borrower defaults on Loan, SBA may be required to pay Lender under the SBA guarantee. SBA may then seek recovery of these funds from Borrower. Under SBA regulations, 13 CFR Part 101, Borrower may not claim or assert against SBA any immunities or defenses available under local law to defeat, modify or otherwise limit Borrower’s obligation to repay to SBA any funds advanced by Lender to Borrower. (e) Payments by SBA to Lender under SBA’s guarantee will not apply to the Loan account of Borrower, or diminish the indebtedness of Borrower under the Note or the obligations of any personal guarantor of the Note.

Receipt of Authorization. Borrower has received a copy of the SBA Authorization (SBA 7(a) Guaranteed Loan) for this Authorization Loan from LenderLender (“Authorization”), and acknowledges that: (a) The Authorization is not a commitment by Lender to make a loan to Borrower; SBA Loan Number: PLP 48794050-02 FL SBA Loan Name: Health Insurance Innovations Page 7 (7a Wizard 2009.4 (w7)); (b) The Authorization is between Lender and SBA and creates no third party rights or benefits to Borrower; (c) The Note will require Borrower to give Lender prior notice of intent to prepay.; (d) If Borrower defaults on Loan, SBA may be required to pay Lender under the SBA guarantee. SBA may then seek recovery of these funds from Borrower. Under SBA regulations, 13 CFR Part 101, Borrower may not claim or assert against SBA any immunities or defenses available under local law to defeat, modify or otherwise limit Borrower’s obligation to repay to SBA any funds advanced by Lender to Borrower.; and (e) Payments by SBA to Lender under SBA’s guarantee will not apply to the Loan account of Borrower, or diminish the indebtedness of Borrower under the Note or the obligations of any personal guarantor of the Note.

Receipt of Authorization. Borrower Xxxxxxxx has received a copy of the Authorization for this Authorization Loan and SBA Form 793, Notice to New SBA Borrower, from LenderXxxxxx, and acknowledges that: (a) a. The Authorization is not a commitment by Lender Xxxxxx to make a loan to Borrower; SBA Loan Number: PLP 48794050-02 FL SBA Loan Name: Health Insurance Innovations Page 7 (7a Wizard 2009.4 (w7)); (b) b. The Authorization is between Lender Xxxxxx and SBA and creates no third party rights or benefits to Borrower; (c) c. The Note will require Borrower to give Lender prior notice of intent to prepay. (d) d. If Borrower defaults on Loan, SBA may be required to pay Lender under the SBA guarantee. SBA may then seek recovery of these funds from Borrower. Under SBA regulations, 13 CFR Part 101, Borrower may not claim or assert against SBA any immunities or defenses available under local law to defeat, modify or otherwise limit Borrower’s obligation to repay to SBA any funds advanced by Lender to Borrower. (e) e. Payments by SBA to Lender under SBA’s guarantee will not apply to the Loan account of Borrower, or diminish the indebtedness of Borrower under the Note or the obligations of any personal guarantor of the Note.