Credit Underwriting definition

Credit Underwriting means an in-depth analysis by the Credit Underwriter of all documents submitted in connection with an Application.

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Credit Underwriting means an in-depth analysis of post-cure period information and all documents submitted in connection with the Application to produce the Credit Underwriting Report.

Credit Underwriting require cash reserves in order to include any of the Properties as Collateral or if Lender rejects any of the Properties as Collateral because cash reserves are insufficient, no such rejection or reserve requirement shall entitle Lender to refuse to make the Mortgage Loan as a result of its credit underwriting unless the sum of (a) the principal amount of the Mortgage Loan allocated by Lender to the Properties so rejected and (b) the amount of cash reserves so required by Lender, exceeds $25 million. Additionally, earthquake insurance and/or seismic upgrades may be required. Notwithstanding the foregoing, Lender shall determine compliance with the DSCR Parameters and LTV Parameters by July 20, 1999 as provided in the section hereof entitled "Due Diligence in Respect of DSCR and LTV".

Examples of Credit Underwriting in a sentence

• The Credit Underwriting and Administration Program shall be consistent with safe and sound banking practices.

• For a period of twelve (12) months following the Closing, the Purchaser may put back, or cause the Seller to repurchase, at par, any Loan having a balance of greater than $50,000 if the enforceability of the Loan has been substantially impaired because of documentation errors (excluding with respect to the Credit Underwriting Documents) on the part of Seller (a “Documentation Put”).

• Except as required by Applicable Law, revise or modify or permit the Sponsor or any affiliate thereof to revise or modify its Customer Collection Policy, Credit Underwriting Policy or Service Transfer Policy in such a manner as would be reasonably expected to have a material adverse effect on the Lenders without the prior written consent of the Super-Majority Lenders.

• Client shall not override the Credit Underwriting Standards, or otherwise deviate from the Credit Underwriting Standards, with respect to any Applications.

• Notwithstanding anything to the contrary in this Agreement, no change may be made to the Credit Underwriting Standards unless each such change has been approved by Bank in writing in accordance with this Addendum.

• The Board shall review the effectiveness of the Credit Underwriting and Administration Program at least annually, and more frequently if necessary or if required by the OCC in writing, and amend the Credit Underwriting and Administration Program as needed or directed by the OCC.

• The Parties shall agree on mutually acceptable procedures with respect to Client providing adverse action notices to Applicants with regard to Applications that do not meet Credit Underwriting Standards criteria or are otherwise denied by Bank (and any adverse action notices shall be subject to Bank’s prior written approval); and Account Agreements to Applicants with regard to Applications that are approved by Bank.

• To the extent the Customer Collection Policy, Credit Underwriting Policy or Service Transfer Policy is required to be revised or modified by any Applicable Law, the Borrower shall provide the Administrative Agent and the Lenders with the correspondence, if any, from the applicable Governmental Authority requiring such revisions or modifications promptly upon receipt thereof and copies of such revised policies within five (5) Business Days of when such policies are revised or modified.

• Purchaser acknowledges and agrees that the Credit Underwriting Documents are provided by Seller for Purchaser’s convenience, and that Purchaser will perform its own underwriting of the Loans and related borrowers, and that Purchaser shall have no liability whatsoever to Purchaser with respect to the Credit Underwriting Documents.

• Promptly upon receipt of a Confirmation Request and all related Credit Underwriting Documents (collectively, each, an “Confirmation Request Package”), the Agent shall provide copies thereof to each Lender.

More Definitions of Credit Underwriting

Credit Underwriting means an in-depth analysis by the Credit Underwriter of post-cure period information and all documents submitted in connection with an the Application to produce the Credit Underwriting Report.

Credit Underwriting. The Bank will take all credit risk in each transaction. Standard underwriting guidelines will apply. An unsecured loan product will be available. The secured loan will be determined by the Bank and will be based on the amount borrowed.

Credit Underwriting means an in-depth analysis by the Credit Underwriter of all documents submitted in connection

Credit Underwriting. Each Lender shall approve in its sole discretion (and it, its counsel and other experts shall be afforded sufficient time and information to review) all matters which it considers relevant to the transactions contemplated hereby, including, without limitation, the organizational documents and financial statements of Patriot, the Borrower, any other relevant affiliates of Patriot and the Collateral and all title matters and other diligence relating to the Properties, including, without limitation, insurance policies, environmental and engineering reports, leases, management agreements and other property-related documents, appraisal reports, site inspections and NOI audits. The Lenders will use reasonable efforts to use information heretofore provided to them by Patriot in connection with their due diligence review, to the extent the Lenders reasonably determine that such information is satisfactory for their purposes; provided, that the Borrower shall provide to the Lenders current financial statements for the Borrower and the Properties, as well as third-party reports (or updates of existing third-party reports) dated not more than one year prior to the Securitization of the Term Loan. The funding of the Term Loan is contingent upon and subject to (i) each Lender's complete satisfaction, in its sole discretion, with the results of its due diligence review and the credit worthiness of the Term Loan, and (ii) neither Lender discovering any information, whether as a result of its due diligence review or otherwise, which it reasonably believes has, or could have, a material adverse effect on Patriot, the Borrower or any other relevant affiliates of Patriot taken as a whole. the Collateral or any of the transactions contemplated in this Term Sheet.

Credit Underwriting means the team responsible for credit control and monitoring of performing Corporate loans;

Credit Underwriting means an in-depth analysis by the Credit Underwriter of all documents