Short Sale. The sale of the Property will not generate sufficient proceeds to pay off the Broker’s real estate commission and all mortgages or liens on the Property. Therefore, the purchase and sale agreement for the sale of the Property will need to be made contingent upon the mortgage lender(s) and other lien holders agreeing to take less than the face amount of what they are owed.
Short Sale. Each Buyer represents and warrants to the Company that at no time prior to the date of this Agreement has any Restricted Person (as defined herein) engaged in or effected, in any manner whatsoever, directly or indirectly, any (i) “short sale” (as such term is defined in Rule 200 of Regulation SHO of the 1934 Act (as defined herein)) of the Common Stock or (ii) hedging transaction, which establishes a Net Short Position (as defined herein) with respect to the Common Stock.
Short Sale. Such Purchaser represents that after the date that such Purchaser learned of the terms of this transaction and prior to the date hereof, neither it nor any Person over which the Purchaser has direct control, have made any net short sales of, or granted any option for the purchase of or entered into any hedging or similar transaction with the same economic effect as a net short sale, in the Common Stock.
Short Sale. 11.1 The Client must notify the Company when a sale order relates to securities which the Client does not own i.e. where it involves short selling (including where the Client has borrowed stock for the purposes of the sale). The Client acknowledges and agrees that no short selling orders will be accepted by the Company unless the Client provides the Company with such confirmation, documentary evidence and assurance as the Company in the Company’s opinion considers necessary to show that the Client has a presently exercisable and unconditional right to vest such securities in the purchaser before placing any short selling order.
Short Sale. A short sale (Short Sale) is a transaction in which a Lienholder releases its Lien against Property and (1) accepts an amount less than the full amount a Lienholder claims is owed or (2) treats the debt secured by a Lien differently than as originally provided for in the evidence of debt (such as a promissory note). Before a Short Sale can occur, Buyer, Seller, and Lienholder (except those creditors that are to be paid the full amount claimed) must consent to the terms of the sale. Sometimes, Lien is released but Lienholder does not agree to release Seller from liability or reduce the unpaid portion of the debt, and Seller and any guarantors will remain liable after closing for that unpaid portion, despite the release of Lien against Property at closing.
Short Sale. In cases of short sale, the parties shall work together so that the Bank/Lender or any lien holders agree to hold sellers or named persons on title as of this agreement harmless of any further actions and will not hold seller accountable for the remainder amounts owed.
Short Sale. A Short Sale is defined as a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a Short Sale, the bank or mortgage lender agrees to discount a loan balance.
Short Sale. Purchaser must retain a copy of the HUD-1 Settlement Statement and obtain an Owner Occupancy certification from the new purchaser for each Sale to Owner Occupant NSO. Such Owner Occupancy certification must be signed by the purchasers of the property and provide as follows: “One of the undersigned intends to occupy the subject property as his or her principal residence for a period of at least one year.”
Short Sale. To qualify as an NSO, Purchaser may consent to a short sale of the property by the existing borrower directly to an Owner Occupant.
Short Sale. Neither the Investor nor any of its Affiliates will directly or indirectly engage in any Short Sale of the Commitment Shares, the Warrant Shares, the Warrants, the Convertible Note or the Note Conversion Shares during the Commitment Period.
