Appropriate Proceedings definition
Appropriate Proceedings means actions or proceedings appropriate to enforce or satisfy the Borrower’s obligations under the terms of a loan, which could include legal action to enforce the terms of such loan, foreclosure proceedings, eviction proceedings, preserving deficiency rights by making a bid at a foreclosure sale and pursuing a deficiency judgment in those jurisdictions where it is customary to do so during the foreclosure proceedings or as we may require, acquiring title to the Property, or asserting your interest in the Borrower’s bankruptcy proceeding.
Appropriate Proceedings means any legal or administrative action or proceeding by the Insured affecting either the Loan or the title to the Property, and include, but are not limited to:
1. enforcing the terms of the Loan as allowed by the laws where the Property is located; or [LOGO OMITTED] PMI BULK PRIMARY FIRST LIEN MASTER POLICY ===============================================================================
Appropriate Proceedings means any legal or administrative action by the Insured affecting either a Loan or title to a Property, including:
Examples of Appropriate Proceedings in a sentence
The Company reserves the right to direct the Insured to institute Appropriate Proceedings at any time after Default.
The Insured MUST begin Appropriate Proceedings when the Loan becomes six (6) months in Default unless the Company provides written instructions that some other action be taken.
When either defending against or bringing Appropriate Proceedings, the Insured shall report the status of these proceedings to the Company as reasonably and expeditiously as possible.
The Company will discuss all such information it may have with the Insured so that the parties can decide whether any Appropriate Proceedings (necessary to establishing or pursuing a deficiency) are to be pursued for the benefit of both parties or whether one of the parties will elect not to participate in any recovery.
These monthly reports shall continue until the Borrower is no longer in Default, the Appropriate Proceedings terminate, or until title to the Property has been transferred to the Insured.
More Definitions of Appropriate Proceedings
Appropriate Proceedings means any legal or administrative action or proceeding by the Insured affecting either the Loan or the title to the Property, and include, but are not limited to:
1. enforcing the terms of the Loan as allowed by the laws where the Property is located; or
Appropriate Proceedings means actions or proceedings appropriate to enforce or satisfy the Borrower’s obligations under the terms of a loan, which could include legal action to enforce
Appropriate Proceedings means the formal commencement of any legal, administrative, judicial or non-judicial action, proceeding, or remedy, permissible under the laws of the jurisdiction where the Property is located, to enforce the Borrower’s obligations under a Loan, or to apply the Property to the satisfaction of the Borrower’s obligations under a Loan. These proceedings include: enforcing the terms of the Loan, eviction proceedings, preserving Deficiency Rights by making a bid as required under Section 6.03(c)(vi), preserving or establishing Deficiency Rights in accordance with Section 8.03, acquiring Borrower’s Title or Good and Merchantable Title to the Property, as may be required under the Master Policy, or asserting your interest in the Property in a Borrower’s bankruptcy or similar proceeding.
Appropriate Proceedings means any legal, administrative or non-judicial action or proceeding permissible under Applicable Law to enforce the Borrower's obligations under a Covered Loan or to apply the Property to the satisfaction of the Borrower's obligations under such loan or to evict the Borrower from the Property.
Appropriate Proceedings means any action or proceeding which vests in the Insured all of the Borrower's rights and title in and to the Property including, but not limited to, foreclosure by public or private sale or voluntary conveyance from the Borrower, provided, however, that such action or proceeding shall not be inconsistent with the requirements of Conditions Six, Nine and Fifteen of this Policy and is permitted by applicable law.
Appropriate Proceedings means any legal or administrative action by the Insured affecting either a Loan or title to a Property, including:
(a) Preserving a deficiency recovery by making a bid at the foreclosure sale and pursuing a deficiency judgment until the end of the Settlement Period, where appropriate and permissible and where directed by the Company; or
(b) Enforcing the terms of the Loan as allowed by the laws where the Property is located or those laws affecting either the Loan or, if applicable, the Collateral; or
(c) Acquiring Borrower's Title or Good and Merchantable Title to the Property, as either may be required under this Policy, but excluding such title as may be acquired by a voluntary conveyance from the Borrower; or
(d) Asserting the Insured's interest in the Property in a Borrower's bankruptcy.
Appropriate Proceedings means any legal or administrative action by the Insured affecting either a Loan or title to a Property, including:
a. Preserving a deficiency recovery by making a bid at the foreclosure sale and pursuing a deficiency judgment until the end of the Settlement Period, where appropriate and permissible and where directed by the Company; or
b. Enforcing the terms of the Loan as allowed by the laws where the Property is located; or
c. Acquiring Borrower's Title or Good and Merchantable Title to the Property, as either may be required under this Policy, but excluding such title as may be acquired by a voluntary conveyance from the Borrower; or
d. Asserting the Insured's interest in the Property in a Borrower's bankruptcy.