Underlying Loan Sample Clauses

The 'Underlying Loan' clause defines the specific loan or loans that form the basis for a transaction or agreement, typically in the context of loan participations, assignments, or securitizations. This clause identifies the original loan, including its terms, parties, and relevant documentation, to which the rights and obligations in the current agreement relate. By clearly specifying the underlying loan, the clause ensures all parties understand exactly which financial instrument is being referenced, thereby reducing ambiguity and potential disputes over the subject matter of the agreement.
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Underlying Loan. 5.3(c)(i) Voting Agreement..........................................................................................
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Underlying Loan. Borrower shall have foreclosed upon any Underlying Mortgage or delivered a deed in lieu thereof or such Underlying Loan is a Defaulted Loan and Borrower has failed to deliver to Lender the Allocated Loan Amount pursuant to Section 2.05(b) hereof with respect to such Underlying Loan within two (2) Business Days after such event; or
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Underlying Loan. To Seller's knowledge, there are no events of default under the Underlying Loan Documents.
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Underlying Loan. 2.1 The loan secured by the mortgage is the revolving loan in a maximum amount of RMB40,000,000 from September 28, 2005 to September 22, 2008. 2.2 At any time during the term of the loan, Mortgagor can request loans from Mortgagee on conditions that the outstanding balance of the loan does not exceed RMB40,000,000.
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Underlying Loan. Seller and buyer understand that there is an underlying loan and accompanying deed of trust encumbering the property which will not be assumed by the buyer nor paid off by the seller. If said loan contains a "due-on-sale" restriction, seller and buyer agree and understand that the above-referenced Installment Land Contract may violate said clause and give lender the right to demand complete payoff of the underlying loan, and if not paid may be foreclosed by said lender.
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Underlying Loan. The Issuer will apply the investment amounts from the Notes to grant to Borrower the Underlying Loan. The Issuer will enter as lender into a Luxembourg law governed revenue participating agreement with the Borrower pursuant to which the Issuer as lender agrees to make available to the Borrower a multi- tranche revenue participating loan in a total amount of up to EUR 100,000,000.- . The principal and interest of the Underlying Loan will be considered as repaid by the Borrower in the form of any amount of BTC received, plus any earnings on such BTC realised by the Borrower (and less any losses on such BTC) less the Expenses of the Borrower as set-out in the Offering Supplement.
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Underlying Loan. (a) The Underlying Loan Documents and any other documents required to be delivered by Borrower or Guarantor under this Agreement for the Underlying Loan have been delivered to Administrative Agent in accordance with Section 3.2 (or arrangements have been made for such delivery). (b) As of the Closing Date, Schedule 1.1(b) contains a complete and correct description of each Underlying Loan Document. Except as set forth on Schedule 1.1(b) (as the same may be supplemented from time to time), there are no letters of credit that have been delivered by the Underlying Loan Borrower to Borrower. (c) Each of the Underlying Loan Note, the Underlying Loan Mortgage and the other Underlying Loan Documents executed by the Underlying Loan Borrower in connection with the Underlying Loan is a legal, valid and binding obligation of the Underlying Loan Borrower (subject to any non-recourse provisions therein and any state anti-deficiency or market value limit deficiency legislation), enforceable in accordance with its terms, except (i) that certain provisions contained in the Underlying Loan Documents are or may be unenforceable in whole or in part under applicable state or federal laws, but neither the application of any such laws to any such provision nor the inclusion of any such provisions renders any of the Underlying Loan Documents invalid as a whole and the Underlying Loan Documents, taken as a whole, are enforceable to the extent necessary and customary for the practical realization of the rights and benefits afforded thereby, and (ii) as such enforcement may be limited by bankruptcy, insolvency, receivership, reorganization, moratorium, redemption, liquidation or other laws relating to or affecting the enforcement of creditors’ rights generally, or by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law). The Underlying Loan Note and the Underlying Loan Mortgage contain no provision limiting the right or ability of Borrower to assign the Underlying Loan. There is no valid offset, defense, counterclaim or right of rescission available to Underlying Loan Borrower with respect to the Underlying Loan. (d) Except as permitted hereunder, no terms of any Underlying Loan Mortgage, Underlying Loan Note or other Underlying Loan Documents have been waived, impaired, modified, altered, satisfied, canceled, subordinated or rescinded by Borrower in any material respect. The Project (nor any portion thereof) has not...
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Underlying Loan. Section 4.16 No Change in Facts or Circumstances; Disclosure
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Related to Underlying 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;

  • The Loan Section 2.01. (a) ADB agrees to lend to the Borrower from ADB's ordinary capital resources an amount of one hundred million Dollars ($100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.06 of this Loan Agreement.

  • Existing Loan Seller represents and warrants to Buyer that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete in all material respects. To Seller’s Knowledge, neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and, to Seller’s Knowledge, no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall accept the conveyance of the Property subject to the Existing Loan, including, without limitation, all liens securing its payment. If this Contract is still pending, by no later than fifteen (15) days after the Effective Date, Seller shall cause Existing Lender to deliver to Buyer (or for Seller to deliver to Buyer) a complete assumption and application, and thereafter Buyer shall, at its sole cost and expense, during the pendency of this Contract use diligent, commercially reasonable efforts, in cooperation with Seller, to facilitate Buyer’s assumption of the Existing Loan, including, without limitation, promptly furnishing and/or paying for all items required by the holder of the Existing Loan or its servicer to process Buyer’s application and pay all costs required by the holder of the Existing Loan or its servicer (such costs and all other costs and expenses of the holder of the Existing Loan or its servicer to consider, investigate, process, approve and document the transaction contemplated by this Contract, including all application, underwriting, legal, rating agency and assumption fees, being sometimes collectively referred to as the “Assumption Costs”); provided, however, in no event shall the Assumption Costs include any legal fees of Seller’s own counsel or legal fees of Existing Lender’s counsel necessitated by Seller’s negotiation of the Assumption Documents or necessitated by Seller’s pursuit of an exchange contemplated by Section 16.14 hereof. In addition, any assumption fee based solely on the amount of the Existing Loan need not be paid until Closing. Such efforts by Buyer shall include causing Buyer’s rights under this Contract to be assigned by no later than Closing to a single purpose entity or other special purpose entity as required by the holder of the Existing Loan or its servicer and causing an appropriate guarantor (“New Guarantor”) to become a guarantor of any non-recourse carveouts and environmental indemnitees of the Existing Loan in place and stead of the principals of Seller from and after the Closing Date. If the Assumption Documents require that Buyer or New Guarantor give representations or warranties to Existing Lender with respect to matters affecting the Property prior to Closing, Seller and such principals of Seller currently liable therefor shall indemnify, defend and hold harmless Buyer and New Guarantor from all claims from Existing Lender and all damages, costs and expenses owed to Existing Lender as a result of a breach thereof, provided that the representations and warranties so made are limited to reasonable matters affecting the Property prior to Closing. Except as expressly provided in this Section 4.4, Buyer, and not Seller, shall be responsible for all costs, fees and expenses incurred or payable as a result of the Assumption Costs and complying with the requirements of the Existing Loan for an assumption, and Buyer hereby agrees to indemnify, defend and hold harmless Seller from all of said costs, fees and expenses. Buyer’s foregoing indemnity regarding the Assumption Costs shall survive Closing and any termination of this Contract. The liens, assignments and security interests of the Existing Loan shall each be Permitted Exceptions (as shall be the Assumption Document to be executed at Closing).

  • The Mortgage Pool The Series ____-__ Certificates shall evidence the entire beneficial ownership interest in a mortgage pool (the "Mortgage Pool") of conventional, fixed rate, fully amortizing one- to four-family residential mortgage loans (the "Mortgage Loans") having the following characteristics as of ________ __, ____ (the "Cut-off Date"):

  • Cross-Collateralized Mortgage Loans Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain groups of Mortgage Loans are, in the case of each such particular group of Mortgage Loans (each, a "Cross-Collateralized Group"), by their terms, cross-defaulted and cross-collateralized, if identified as such on the Mortgage Loan Schedule. For purposes of reference, the Mortgaged Property that relates or corresponds to any of the Mortgage Loans referred to in this Section 17 shall be the property identified in the Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, each of the representations and warranties set forth in Exhibit C hereto and each of the capitalized terms used herein but defined in the Pooling and Servicing Agreement, shall be interpreted in a manner consistent with this Section 17. In addition, if there exists with respect to any Cross-Collateralized Group only one original of any document referred to in the definition of "Mortgage File" in the Pooling and Servicing Agreement and covering all the Mortgage Loans in such Cross-Collateralized Group, the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan.