Unguaranteed Interest Sample Clauses

Unguaranteed Interest. SBA acknowledges that it has no interest in the Unguaranteed Interest, Servicing Fee or the Premium Protection Fee. SBA further acknowledges that it has no interest in any collateral that secures any SBA Lender Loan or any Loan Document, except to the extent the collateral secures or a Loan Document relates to the Guaranteed Interest. The collateral for an SBA Lender Loan secures the Guaranteed Interest and the Unguaranteed Interest pari passu. If SBA receives any amount in respect of the Conveyed Interest, SBA will remit the sum to Trustee for the credit of the SBA Lender, provided that in no event will SBA have any obligation to pay any amount not owed by SBA under SBA Rules and Regulations. If SBA receives any amount in respect of the Servicing Fee or the Premium Protection Fee, SBA will remit the sum to the SBA Lender, or if SBA Lender is not the Servicer, the Servicer, provided that Trustee shall have given FTA 15 days prior written notice under this Agreement of the change in Servicer. This Agreement constitutes a notice of claims assignment for the full term of the Pooling and Servicing Agreement under the Federal Assignment of Claims Act of 1940, as amended, 31 U.S.C. Section 3727, with respect to any right to payment of any Unguaranteed Interest or the Servicing Fee or the Premium Protection Fee.
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Unguaranteed Interest. SBA acknowledges that it has no interest in the Unguaranteed Interest, the Servicing Fee or the Premium Protection Fee. SBA further acknowledges that it has no interest in any collateral that secures any SBA Lender Loan or any Loan Document, except to the extent the collateral secures or a Loan Document relates to the Guaranteed Interest. The collateral for an SBA Lender Loan secures the Guaranteed Interest and the Unguaranteed Interest pari passu and all recoveries from insurance or any other source will be shared pro rata. If SBA receives any amount in respect of the Conveyed Interest, SBA will remit the sum to Trustee for the credit of the SBA Lenders, provided that in no event will SBA have any obligation to pay any amount not owed by SBA under SBA Rules and Regulations. If SBA receives any amount in respect of the Servicing Fee or the Premium Protection Fee, SBA will remit the sum to TMSIC for distribution to itself or MSNY, as applicable, or if TMSIC is not the Servicer, the Servicer, provided that Trustee shall have given FTA and SBA 15 days prior written notice under this Agreement of the change in Servicer. This Agreement constitutes a notice of claims assignment for the full term of the Pooling and Servicing Agreement under the Federal Assignment of Claims Act of 1940, as amended, 31 U.S.C. Section 3727, with respect to any right to payment of any Unguaranteed Interest or the Servicing Fee or the Premium Protection Fee.
Sample 1
Unguaranteed Interest. That portion of an SBA Loan not guaranteed by --------------------- the SBA pursuant to the SBA Rules and Regulations.
Sample 1
Unguaranteed Interest. SBA acknowledges that it has no interest in the Unguaranteed Interest, the Servicing Fee or the Premium Protection Fee. SBA further acknowledges that it has no interest in the Unguaranteed Interest's pro rata share of any collateral that secures any SBA Lender Loan or in any Loan Document or any recovery from insurance, guarantees or any other source. The collateral for an SBA Lender Loan secures the Guaranteed Interest and the Unguaranteed Interest pari passu and all recoveries from insurance, guarantees or any other source will be shared pro rata.
Sample 1
Unguaranteed Interest. SBA acknowledges that it has no interest in the Conveyed Interest or the Premium Protection Fee. SBA further acknowledges that it has no interest in any collateral that secures any SBA Lender Loan or any Loan Document, except to the extent the collateral secures or a Loan Document relates to the Guaranteed Interest. The collateral for an SBA Lender Loan secures the Guaranteed Interest and the Unguaranteed Interest pari passu. If SBA receives any amount in respect of the Conveyed Interest, SBA will remit the sum to Trustee for the credit of the SBA Lenders, provided that in no event will SBA have any obligation to pay any interest not owed by SBA under SBA Rules and Regulations. If SBA receives any amount in respect of the Premium Protection Fee, SBA will remit the sum to TMSIC for distribution to itself or MSNY, as applicable. This Agreement constitutes a notice of claims assignment for the full term of the Pooling and Servicing Agreement under the Federal Assignment of Claims Act of 1940, as amended, 31 U.S.C. Section 3727, with respect to any right to payment of any Unguaranteed Interest or the Premium Protection Fee.
Sample 1

Related to Unguaranteed Interest

  • Guaranteed Indebtedness No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.

  • Guaranteed Obligations Not Reduced by Offset The Guaranteed Obligations and the liabilities and obligations of Guarantor to Lender hereunder, shall not be reduced, discharged or released because or by reason of any existing or future offset, claim or defense of Borrower, or any other party, against Lender or against payment of the Guaranteed Obligations, whether such offset, claim or defense arises in connection with the Guaranteed Obligations (or the transactions creating the Guaranteed Obligations) or otherwise.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Guaranteed Obligations The Company, jointly and severally with any other guarantors, hereby absolutely, unconditionally and irrevocably guarantees to the Agent and the Lenders on a continuing basis the full, complete and punctual payment when due, whether at stated maturity, by acceleration or otherwise, of any and all sums due from, and any and all Obligations of the Borrower to the Agent and the Lenders now or hereafter existing under the Notes, the Letters of Credit, the Secured Hedging Obligations and the Amended and Restated Credit Agreement, without regard to the Borrower's use of the proceeds of the Loans, the Letters of Credit or the Secured Hedging Obligations, whether for principal, premium, interest, fees, costs, expenses or otherwise, including, without prejudice to the generality of the foregoing, the prompt payment of the Notes and payment of interest and premium thereon at the times and in the manner specified in the Notes and the Amended and Restated Credit Agreement, prompt payment of amounts owing pursuant to the issuance of the Letters of Credit, prompt payment of the Secured Hedging Obligations at the times and in the manner specified in the documentation therefor and the payment of any and all expenses (including reasonable counsel fees and expenses) incurred by the Agent and the Lenders in enforcing any rights under the Notes, the Letters of Credit, the Secured Hedging Obligations, the Amended and Restated Credit Agreement and this Agreement. Without limiting the generality of the foregoing, the Company's liability shall extend to all amounts that would be owed by the Borrower to the Agent and the Lenders under the Amended and Restated Credit Agreement but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Borrower. Each of the obligations guaranteed as set forth in this Section 2.1 is hereinafter referred to severally as a "Guaranteed Obligation" and collectively as the "Guaranteed Obligations".

  • Insured or Guaranteed Loans If any Loans being transferred pursuant to this Agreement are insured or guaranteed by any department or agency of any governmental unit, federal, state or local, Assuming Institution represents that Assuming Institution has been approved by such agency and is an approved lender or mortgagee, as appropriate, if such approval is required. The Assuming Institution further assumes full responsibility for determining whether or not such insurance or guarantees are in full force and effect on the date of this Agreement and with respect to those Loans whose insurance or guaranty is in full force and effect on the date of this Agreement, Assuming Institution assumes full responsibility for doing all things necessary to insure such insurance or guarantees remain in full force and effect. Assuming Institution agrees to assume all of the obligations under the contract(s) of insurance or guaranty and agrees to cooperate with the Receiver where necessary to complete forms required by the insuring or guaranteeing department or agency to effect or complete the transfer to Assuming Institution.

  • Unsecured Obligation Your Award is unfunded, and as a holder of a vested Award, you shall be considered an unsecured creditor of the Company with respect to the Company’s obligation, if any, to issue shares pursuant to this Agreement. You shall not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this Agreement until such shares are issued to you pursuant to Section 6 of this Agreement. Upon such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company or any other person.

  • Non-Guaranteed Elements From and after the Effective Date, the Ceding Company shall establish Non-Guaranteed Elements for the Business Reinsured in accordance with the Non-Guaranteed Element Policy. The Reinsurer may make recommendations to the Ceding Company and the Ceding Company shall fully consider such recommendations and shall not unreasonably reject any such recommendations that comply with the terms of the Business Reinsured, applicable law and applicable Actuarial Standards of Practice, however, the Ceding Company shall retain the ultimate authority to establish Non-Guaranteed Elements in accordance with the Non-Guaranteed Element Policy.

  • Payment of Secured Obligations Grantor will pay and perform or cause to be paid and performed the Secured Obligations according to the tenor thereof and all other sums now or hereafter secured hereby as the same shall become due.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Secured Party Performance of Debtor Obligations Without having any obligation to do so, the Administrative Agent may perform or pay any obligation which any Grantor has agreed to perform or pay in this Security Agreement and the Grantors shall reimburse the Administrative Agent for any amounts paid by the Administrative Agent pursuant to this Section 8.4. The Grantors’ obligation to reimburse the Administrative Agent pursuant to the preceding sentence shall be a Secured Obligation payable on demand.

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