Common Contracts
1 similar null contracts
ContractJune 11th, 2020
States and is not contestable except for fraud or misrepresentation (including negligent misrepresentation) of which the lender or holder has actual knowl- edge, participates in, or condones. A note which provides for the payment of interest on interest shall not be guar- anteed and any Loan Note Guarantee or Assignment Guarantee Agreement attached to, or relating to, a note which provides for payment of interest on interest is void. The Loan Note Guarantee will not be enforceable by the lender to the extent any loss is oc- casioned by violation of usury laws, negligent servicing, or failure to obtain the required security regardless of the time at which the Agency acquires knowledge of the foregoing. Any losses occasioned will not be enforceable by the lender to the extent that loan funds are used for purposes other than those specifically approved by the Agency in its Conditional Commitment for Guarantee. Negligent servicing is defined as the failure to perform those services which a
