Common use of Successors and Assigns Bounds; Joint and Several Liability; Co-Signers Clause in Contracts

Successors and Assigns Bounds; Joint and Several Liability; Co-Signers. The covenants and agreements of this Loan Agreement shall bind and benefit the successors and assigns of the Lender. An assignment made in accordance with the regulations of the Secretary shall fully relieve the Lender of its obligations under this Loan Agreement. The Borrower may not assign any rights or obligations under this Loan Agreement. The Borrower’s covenants and agreements shall be joint and several. Notwithstanding anything to the contrary herein, upon the death of the last surviving Xxxxxxxx, the Xxxxxxxx’s successors and assigns will be bound to perform the Borrower’s obligations under this Loan Agreement, and the Lender shall be entitled to add to the outstanding Principal Balance the amounts that accrue in accordance with Sections 2.3.2, 2.3.3, 2.8.3, and 2.9.3.

Appears in 1 contract

Samples: Hecm Fixed Interest Rate Loan Agreement

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Successors and Assigns Bounds; Joint and Several Liability; Co-Signers. The covenants and agreements of this Loan Agreement shall bind and benefit the successors and assigns of the Lender. An assignment made in accordance with the regulations of the Secretary shall fully relieve the Lender of its obligations under this Loan Agreement. The Borrower may not assign any rights or obligations under this Loan Agreement. The Borrower’s 's covenants and agreements shall be joint and several. Notwithstanding anything to the contrary herein, upon the death of the last surviving XxxxxxxxBorrower, the XxxxxxxxBorrower’s successors and assigns will be bound to perform the Borrower’s obligations under this Loan Agreement, and the Lender shall be entitled to add to the outstanding Principal Balance the amounts that accrue in accordance with Sections Subsections 2.3.2, 2.3.3, 2.8.32.12.3, and 2.9.32.13.3.

Appears in 1 contract

Samples: Loan Agreement

Successors and Assigns Bounds; Joint and Several Liability; Co-Signers. The covenants and agreements of this Loan Agreement shall bind and benefit the successors and assigns of the Lender. An assignment made in accordance with the regulations of the Secretary shall fully relieve the Lender of its obligations under this Loan Agreement. The Borrower may not assign any rights or obligations under this Loan Agreement. The Borrower’s 's covenants and agreements shall be joint and several. Notwithstanding anything to the contrary herein, upon the death of the last surviving XxxxxxxxBorrower, the XxxxxxxxBorrower’s successors and assigns will be bound to perform the Borrower’s obligations under this Loan Agreement, and the Lender shall be entitled to add to the outstanding Principal Balance the amounts that accrue in accordance with Sections Subsections 2.3.2, 2.3.3, 2.8.3, and 2.9.3.

Appears in 1 contract

Samples: Conversion Mortgage Loan Agreement Fixed Interest Rate

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Successors and Assigns Bounds; Joint and Several Liability; Co-Signers. The covenants and agreements of this Loan Agreement shall bind and benefit the successors and assigns of the Lender. An assignment made in accordance with the regulations of the Secretary shall fully relieve the Lender of its obligations under this Loan Agreement. The Borrower may not assign any rights or obligations under this Loan Agreement. The Borrower’s 's covenants and agreements shall be joint and several. Notwithstanding anything to the contrary herein, upon the death of the last surviving Xxxxxxxx, the XxxxxxxxBorrower’s successors and assigns will be bound to perform the Borrower’s obligations under this Loan Agreement, the and the Lender shall be entitled to add to the outstanding Principal Balance the amounts that accrue in accordance with Sections Subsections 2.3.2, 2.3.3, 2.8.32.12.3, and 2.9.32.13.3.

Appears in 1 contract

Samples: Hecm Adjustable Interest Rate Loan Agreement

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