Examples of Contributed Loans in a sentence
Except as set forth in Section 5.13(a) of East Disclosure Schedule, none of the Contributed Loans are subject to a participation or other participating or other interest of any nature whatsoever pursuant to which East has, or prior to the Closing Date will have, participated its interests (or sold a participating or other interest) in such Contributed Loan.
In connection with the receipt by the Contributee of Contributed Loans as contemplated by this Agreement, the Contributor further agrees that it shall, at its own expense, indicate clearly and unambiguously in its computer files on or prior to the Contribution Date, and its financial statements, that such Contributed Loans have been transferred to the Contributee in accordance with this Agreement.
The plain language of Section 619 dictates that the agencies can only expand, not narrow the existing definition of covered funds.
The Contribution and receipt of the Contributed Loans under this Agreement shall be without recourse to the Contributor; it being understood that the Contributor shall be liable to the Contributee for all representations, warranties and covenants made by the Contributor pursuant to the terms of this Agreement, all of which obligations are limited so as not to constitute recourse to the Contributor for the credit risk of the respective obligors of the Contributed Loans.
It is, further, not the intention of the parties that such Contribution be deemed a pledge of the Contributed Loans by the Contributor to the Contributee to secure a debt or other obligation of the Contributor.
On and after the Contribution Date, the Contributee shall own the Contributed Loans contributed by the Contributor to the Contributee on the Contribution Date, and the Contributor shall not take any action inconsistent with such ownership and shall not claim (except for tax purposes) any ownership interest in such Contributed Loans.
The Contributor shall, in connection with the Contribution, execute and/or deliver to the Contributee any such loan assignment agreements or any other agreements in connection with the Contributed Loans as may be necessary or reasonably advisable to effect the Contribution with respect to each Contributed Loan.
It is the intention of each of the parties hereto that the Contributed Loans contributed by the Contributor to the Contributee pursuant to this Agreement shall constitute assets owned by the Contributee and shall not be part of the Contributor’s estate in the event of the filing of a bankruptcy petition by or against the Contributor under any bankruptcy or similar law.
The representations and warranties in this Section shall survive the termination of this Agreement and the Contribution of any Contributed Loans to the Contributee.
Upon the increase in the capital account of the Contributor in the Contributee by an amount equal to the value of the Contribution, the Contributee will receive such Contributed Loans free and clear of any lien.