Seller Loan Sample Clauses

Seller Loan. Wichita GP irrevocably and unconditionally guarantees and covenants that the Partnership shall obtain the Seller Loan on the terms set forth in the Financing Summary concurrently with the execution of this Agreement. Wichita GP has obtained the Consent of AHF to the terms and forms of the Seller Loan Documents.
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Seller Loan. The definition of Seller Loan in the Agreement is hereby amended to take into account the revised End Date and to read as follows:
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Seller Loan. City has agreed to make the Seller Loan to the Borrower in the amount of $7,300,000.00. The Seller Loan Proceeds will be credited at Initial Closing. A portion of the Seller Loan Proceeds may be used for application to Collateral Payments required under the Bond Documents. By executing and delivering this Agreement, each of the parties to this Agreement acknowledges and agrees that it has no interest in the funds deposited into the "Collateral Fund" under the Indenture, that any transfer of the Seller Loan Proceeds by City or Borrower to the HUD Mortgagee for further transfer to the Trustee as set forth in this Section 1 is an absolute assignment and transfer of such funds to the Trustee upon disbursement of an equal amount of Bond Proceeds by Trustee, that such funds have been irrevocably deposited with the Trustee for the sole purpose paying the principal and interest on the Bonds when the same becomes due, and that it has no further claim upon or interest of any type in such funds held by the Trustee.
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Seller Loan. At Closing, Purchaser shall deliver to Seller the Seller Financing Documents (defined and described below in Section 8), which shall include a Promissory Note in the original principal amount of Four Million Three Hundred Twenty Thousand and No/100 Dollars ($4,320,000.00), with an eight percent (8%) per annum interest rate applied and such seller-carried financing amount shall be applied against the Purchase Price payable for the Property if the transaction Closes.
Sample 1
Seller Loan. Majority Owner shall have received fully executed copies of all Seller Loan Documents, each in a form and substance approved by Majority Owner. Majority Owner shall have received written evidence acceptable to Majority Owner that all Seller Loan proceeds in the amount of $ __ shall have been disbursed to Borrower to pay Project costs set forth on the Budget (or deposited with Bond Trustee in the Project Fund).
Sample 1
Seller Loan. Borrower represents and warrants to Lender that the Seller ------------- Loan has been extended to mature on or following the Maturity Date under the terms and in the form of that certain Amendment to Note dated as of January 29, 2003, by and between Seller and Borrower, attached hereto as Schedule 3.32 and made apart hereof, and Lender acknowledges and consents to same.
Sample 1
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Seller Loan. On or prior to the Closing Date, there shall have been delivered to the Administrative Agent and the Lender all of the executed documentation evidencing the Seller Loan, all of which shall be reasonably satisfactory to the Administrative Agent.
Sample 1
Seller Loan. Purchaser shall lend to Seller at Closing the amount of Two Hundred Eighty Thousand Dollars ($280,000) (the "SELLER LOAN AMOUNT") in accordance with the terms of the loan agreement (the "LOAN AGREEMENT") attached hereto as EXHIBIT I. As further provided in Loan Agreement, Purchaser shall make additional advances to Seller, the amount of which shall be added to and shall become part of the Seller Loan Amount subject to repayment according to the terms of the Loan Agreement. The obligations of the Seller under the Loan Agreement shall be secured by a pledge of the Purchase Stock and personal guaranties by Member and Xxxxxxx Xxxxx Xxxxxxx.
Sample 1

Related to Seller Loan

  • Mortgage Loan The appraisal was conducted by an appraiser who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;

  • Seller Financing Seller agrees to provide financing to the Buyer under the following terms and conditions:

  • Mortgage Loans As of the Closing Date, in consideration of the Issuer's delivery of the Notes and the Ownership Certificate to the Depositor or its designee, and concurrently with the execution and delivery of this Agreement, the Depositor does hereby transfer, assign, set over, deposit with and otherwise convey to the Issuer, without recourse, subject to Section 3.01, in trust, all the right, title and interest of the Depositor in and to the Mortgage Loans. Such conveyance includes, without limitation, the right to all payments of principal and interest received on or with respect to the Mortgage Loans on and after the Cut-off Date (other than payments of principal and interest due on or before such date), and all such payments due after such date but received prior to such date and intended by the related Mortgagors to be applied after such date together with all of the Depositor's right, title and interest in any REO Property and the proceeds thereof, the Depositor's rights under any Insurance Policies related to the Mortgage Loans, the Depositor's security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties and any proceeds of the foregoing, to have and to hold, in trust; and the Indenture Trustee declares that, subject to the review provided for in Section 2.02, it has received and shall hold the Trust Estate, as Indenture Trustee, in trust, for the benefit and use of the Noteholders and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, the Issuer has issued and delivered the Notes and the Ownership Certificate to or upon the order of the Depositor, in exchange for the Mortgage Loans and the other property of the Trust Estate. Concurrently with the execution and delivery of this Agreement, the Depositor does hereby assign to the Issuer all of its rights and interest under the Mortgage Loan Purchase Agreement but without delegation of any of its obligations thereunder. The Issuer hereby accepts such assignment, and shall be entitled to exercise all the rights of the Depositor under the Mortgage Loan Purchase Agreement as if, for such purpose, it were the Depositor. Upon the issuance of the Notes, ownership in the Trust Estate shall be vested in the Issuer, subject to the lien created by the Indenture in favor of the Indenture Trustee, for the benefit of the Noteholders. The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is not intended to result in creation or assumption by the Indenture Trustee of any obligation of the Depositor, the Seller, or any other Person in connection with the Mortgage Loans or any other agreement or instrument relating thereto except as specifically set forth herein. The Depositor further agrees to cause ________________________ to assign all of its right, title and interest in and to the interest rate corridor transaction evidenced by each Confirmation to the Issuer, and all such right, title and interest shall be deemed to have been assigned by ________________________ to the Depositor and by the Depositor to the Issuer.

  • Single Loan All Loans to Borrower and all of the other Obligations of Borrower arising under this Agreement and the other Loan Documents shall constitute one general obligation of Borrower secured, until the Termination Date, by all of the Collateral.

  • Conveyance From Seller to Purchaser Subsection 6.01

  • Specially Serviced Mortgage Loans (a) The Master Servicer shall send a written notice to the Special Servicer, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the 17g-5 Information Provider (who shall promptly post such notice on the 17g-5 Information Provider’s Website), the Certificate Administrator (who shall promptly post such notice on the Certificate Administrator’s Website), the Trustee, the Custodian, the related Seller and solely as it relates to any A/B Whole Loan, to the holder of the related B Note and solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, within five (5) Business Days after becoming aware of a Servicing Transfer Event with respect to a Mortgage Loan, which notice shall identify the related Mortgage Loan and set forth in reasonable detail the nature and relevant facts of such Servicing Transfer Event and whether such Mortgage Loan is covered by an Environmental Insurance Policy (and for purposes of stating whether such Mortgage Loan is covered by an Environmental Insurance Policy the Master Servicer may rely on Schedule IX attached hereto) and, in the case of the Special Servicer, shall be accompanied by a copy of the Servicer Mortgage File. (b) Prior to or concurrently with the transfer of the servicing of any Specially Serviced Mortgage Loan to the Special Servicer, the Master Servicer shall notify the related Mortgagor of such transfer in accordance with the Servicing Standard (and shall send a copy of such notice to the Special Servicer). (c) Any calculations or reports prepared by the Master Servicer to the extent they relate to Specially Serviced Mortgage Loans shall be based on information supplied to the Master Servicer in writing by the Special Servicer as provided hereby. The Master Servicer shall have no duty to investigate or confirm the accuracy of any information provided to it by the Special Servicer and shall have no liability for the inaccuracy of any of its reports due to the inaccuracy of the information provided by the Special Servicer. (d) Subject to Section 5.4(e), on or prior to each Distribution Date, the Master Servicer shall provide to the Special Servicer, in order for the Special Servicer to comply with its obligations under this Agreement, such information (and in the form and medium) as the Special Servicer may reasonably request in writing from time to time.

  • Pre-Closing Collections Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto pursuant to Section 2.01.

  • Purchased Contracts The obligation of CNHCR to purchase the Purchased Contracts is subject to the satisfaction of the following conditions:

  • Assets Purchased by Assuming Bank With the exception of certain assets expressly excluded in Sections 3.5 and 3.6, the Assuming Bank hereby purchases from the Receiver, and the Receiver hereby sells, assigns, transfers, conveys, and delivers to the Assuming Bank, all right, title, and interest of the Receiver in and to all of the assets (real, personal and mixed, wherever located and however acquired) including all subsidiaries, joint ventures, partnerships, and any and all other business combinations or arrangements, whether active, inactive, dissolved or terminated, of the Failed Bank whether or not reflected on the books of the Failed Bank as of Bank Closing. Schedules 3.1 and 3.1a attached hereto and incorporated herein sets forth certain categories of Assets purchased hereunder. Such schedule is based upon the best information available to the Receiver and may be adjusted as provided in Article VIII. Assets are purchased hereunder by the Assuming Bank subject to all liabilities for indebtedness collateralized by Liens affecting such Assets to the extent provided in Section 2.1. The subsidiaries, joint ventures, partnerships, and any and all other business combinations or arrangements, whether active, inactive, dissolved or terminated being purchased by the Assuming Bank includes, but is not limited to, the entities listed on Schedule 3.1a. Notwithstanding Section 4.8, the Assuming Bank specifically purchases all mortgage servicing rights and obligations of the Failed Bank.

  • Mortgage Loan repurchased (The Master Servicer hereby certifies that the Purchase Price has been credited to the Collection Account or the Certificate Account (whichever is applicable) pursuant to the Trust Agreement.)

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