Repayment Plan and Forbearance Agreement Sample Clauses

Repayment Plan and Forbearance Agreement. If the Special ---------------------------------------- Servicer pursues a repayment plan in respect of a Transferred Mortgage Loan pursuant to the authority granted to the Special Servicer by the terms and provisions of Section 3.10 (a) above, the Special Servicer will negotiate an agreement with the Mortgagor for repayment of the delinquent payments over a period and for forbearance from foreclosure during the term of such agreement. If such Mortgagor shall at any time be in default under any such agreement, the Special Servicer shall promptly proceed with foreclosure proceedings in accordance with Section 3.10 (c) hereof (while simultaneously pursuing other resolution strategies). The Special Servicer shall retain any fees paid by the Mortgagor in connection with such repayment plan or forbearance agreement as Ancillary Income.
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Repayment Plan and Forbearance Agreement. If the Servicer pursues ---------------------------------------- a repayment plan in respect of a Loan pursuant to the authority granted to the Servicer by the terms and provisions of Section 3.1 above, the Servicer will negotiate an agreement with the Obligor for repayment of the delinquent payments over a period and for forbearance from foreclosure during the term of such agreement. If such Obligor shall at any time be in default under any such agreement, the Servicer shall promptly proceed with foreclosure proceedings in accordance with Section 3.3 hereof (while simultaneously pursuing other resolution strategies). The Servicer shall retain any fees paid by the Obligor in connection with such repayment plan or forbearance agreement as Ancillary Income.
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Related to Repayment Plan and Forbearance Agreement

  • Forbearance Agreement Except as otherwise expressly provided herein, (i) the Forbearance Agreement is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after the date hereof (A) all references in the Forbearance Agreement to "this Forbearance Agreement ", "hereto", "hereof", "hereunder" or words of like import referring to the Forbearance Agreement shall mean the Forbearance Agreement as amended and modified by this Amendment, and (B) all references in the Financing Agreement or any other Loan Document to the " Forbearance Agreement ", "thereto", "thereof", "thereunder" or words of like import referring to the Forbearance Agreement shall mean the Forbearance Agreement as amended and modified by this amendment. This Amendment shall be effective only in the specific instances and for the specific purposes set forth herein and does not allow for any other or further departure from the terms and conditions of the Forbearance Agreement or the Financing Agreement which terms and conditions shall remain in full force and effect. 6.

  • Amendment to Forbearance Agreement As of the date hereof, Section 2(b) of the Forbearance Agreement shall be amended and restated in its entirety to read as follows:

  • Amendments to Forbearance Agreement The Forbearance Agreement is hereby amended as follows:

  • Complete Agreement; Modification of Agreement This Agreement constitutes the complete agreement among the parties hereto with respect to the subject matter hereof, supersedes all prior agreements and understandings relating to the subject matter hereof, and may not be modified, altered or amended except as set forth in Section 8.6.

  • Financing Agreement This Amendment shall constitute a Financing Agreement.

  • Amendment, Modification and Supplement Upon amendment, modification and supplement of this Contract shall be subject to the written agreement executed by each party.

  • Forbearance Plan (a) Where relief is appropriate, the Servicer shall arrange with a Borrower a "Forbearance Plan" giving such Borrower a definite period in which to reinstate his Mortgage Loan by immediately commencing payments in excess of the regular Monthly Payments. Without the prior written consent of the Master Servicer, special forbearance relief agreements reducing or suspending the regular Monthly Payment of the related Mortgage Loan for a specified period of time are not permitted. To the extent that (i) the priority of the lien represented by such Mortgage Loan remains in effect and is not adversely affected, (ii) where applicable, the related Primary Mortgage Insurance policy remains in full force and effect and (iii) where applicable, the related Pool Insurance policy remains in full force and effect, the Servicer, in its discretion, may enter into a Forbearance Plan that provides that the total amount owed during such Delinquency, including costs and expenses, will be repaid within the shortest period practicable, commencing immediately. With respect to such Mortgage Loan, the Forbearance Plan shall provide that such Delinquency will be cured within a period conforming to acceptable servicing practices; provided that such period will not exceed 21 months from the Due Date of the earliest unpaid installment and will not result in a "significant modification" of the Mortgage Loan under the REMIC Provisions. The Forbearance Plan for such Mortgage Loan shall be set forth in writing and executed by the Borrower and by the Servicer in the form of a letter agreement if the earliest unpaid installment is more than 60 days past due.

  • Amendment to Loan Agreement Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Loan Agreement is hereby amended as follows:

  • Incorporation of the Loan Agreement provisions The provisions of clause 30 (law and jurisdiction) of the Loan Agreement, as amended and supplemented by this Agreement, shall apply to this Agreement as if they were expressly incorporated in this Agreement with any necessary medications.

  • Amendment of Loan Agreement The Loan Agreement is hereby amended as follows:

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