Deed in Lieu definition

Deed in Lieu. The Servicer's acceptance of a deed in lieu of foreclosure.
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Deed in Lieu has the meaning provided in Section 14(b) hereof.
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Deed in Lieu means a deed or other instrument in lieu of foreclosure of Agent's liens on and security interests in a Property and to which Agent and Lenders agree in accordance with Section 3.2.
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Examples of Deed in Lieu in a sentence

  • As more fully described in the DiDonato Declaration, substantially all of the assets of the Debtors were transferred Assets transferred in accordance with the Strict Foreclosure, Deed in Lieu and Settlement Agreement dated as of May 17, 2020 (“SFA”).

  • As more fully described in the DiDonato Declaration, substantially all of the assets of the Debtors were transferred Assets transferred in accordance with the Strict Foreclosure, Deed in Lieu and Settlement Agreement dated as of May 17, 2020.

  • Where title is acquired by the acceptance of a deed in lieu of foreclosure, the Owner shall pay to the Servicer a Deed in Lieu Fee.

  • If the Servicer determines that the proceeds of such foreclosure would not exceed the costs and expenses of bringing such a proceeding, the Servicer will request the Purchaser to allow Servicer to pursue a Deed in Lieu of Foreclosure or recommend to the Purchaser to perform a charge-off of the remaining principal balance, delinquent interest and any and all fees and/or expenses the Servicer has advanced or incurred through Customary Servicing Procedures.

  • Development Experience points will not be applied to any Mississippi LIHTC development(s) that involve any of the violations listed below:• Foreclosure or Deed in Lieu of Foreclosure of any MS LIHTC property beginning in 2011• Any Developer or Developer Entity forcibly removed from any Limited Partnership (including a General Partner) or Limited Liability Company relating to a MS LIHTC development beginning in 2019.

  • The purpose of Radian’s Short Sale Review is to review the conditions of Claims resulting from a Short Sale or Deed in Lieu (DIL).

  • Bankruptcy - Chapter 7 / Foreclosure / Deed in Lieu / Pre-foreclosure / Short Sale: The fact that these events exist in an applicant’s (or spouse’s) credit history does not in itself disqualify the loan.

  • Review Deed in Lieu of Foreclosure information:http://bit.ly/2P0cDt1 http://bit.ly/2BtN4hK 5.

  • The Deed in Lieu Price shall be equal to: (i) the amounts unpaid pursuant to the First Mortgage note; (ii) any other reasonable costs incurred by the First Mortgagee that directly relate to the deed in lieu of foreclosure; and (iii) any additional reasonable costs incurred by the First Mortgagee during the Deed in Lieu Option Period that are directly related to maintenance of the Property.

  • VALERI calculates the unpaid principal balance as of the date of the foreclosure sale (or the date of confirmation of the sale in confirmation/ratification of sale states), closing date of the compromise sale (HUD-1 settlement date), or date the DIL is recorded or submitted for recording (depending on which is reported in the Deed in Lieu Complete event).


More Definitions of Deed in Lieu

Deed in Lieu has the meaning set forth in the recitals hereof.
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Deed in Lieu means a deed tendered by the record owner to prevent the creditor from asserting a legal right to recover payment of a debt through a foreclosure action.
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Deed in Lieu. A deed in lieu (DIL) is defined as the legal process for exchanging property for the debt. The deed to the property is willingly signed over to the lender. In order to complete a DIL, the lender must agree to accept the DIL and Xxxxxx Xxx must approve the request. The title to the property must be clear without liens or judgments. Move in condition of the property is strictly enforced as outlined below. In order to initiate this transaction we need:
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Deed in Lieu has the meaning provided in Section 11 hereof.
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Deed in Lieu shall have the meaning ascribed to such term in Section 8.1.1. of this Agreement.
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Related to Deed in Lieu

  • Substitute Loan As defined in Section 2.2.

  • Deed means a quitclaim deed(s) substantially in the form set out in the attached

  • Assignment and Conveyance An assignment and conveyance of the Mortgage Loans purchased on a Closing Date in the form annexed hereto as Exhibit 4.

  • Loan Assignment has the meaning set forth in the Purchase and Sale Agreement.

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Agreement in lieu of a plan means a contract between the plan-approving authority and the owner that specifies conservation measures that must be implemented in the construction of a single-family residence; this contract may be executed by the plan-approving authority in lieu of a formal site plan.

  • Lease Assignments means the assignments of real property leases and subleases by and between a member of the Nuance Group, as assignor, and a member of the SpinCo Group, as assignee, in each case as set forth on Schedule XII under the caption “Lease Assignments.”

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Lease Assignment has the meaning set forth in Section 3.5(d).

  • New Home means every newly constructed private dwelling unit and the fixtures and structure that are made a part of a newly constructed private dwelling unit at the time of construction.

  • Eligible Substitute Mortgage Loan With respect to a Mortgage Loan substituted by the Transferor for a Deleted Mortgage Loan, a Mortgage Loan which must, on the date of such substitution, (i) have a Principal Balance, (or, in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate Principal Balance), not in excess of, and not more than 10% less than the Principal Balance of the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (iv) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Section 2.03 hereof; (vi) be the same credit grade category as the Deleted Mortgage Loan; (vii) have the same prepayment penalty term; and (viii) not be a Cooperative Mortgage Loan unless the Deleted Mortgage Loan was a Cooperative Mortgage Loan.

  • Lender Joinder Agreement means a joinder agreement in a form reasonably satisfactory to the Administrative Agent delivered in connection with Section 2.22.

  • Guaranty Joinder Agreement means each Guaranty Joinder Agreement, substantially in the form thereof attached to the Guaranty, executed and delivered by a Guarantor or any other Person to the Administrative Agent pursuant to Section 6.12 or otherwise.

  • Guaranty Supplement means an instrument substantially in the form of Exhibit I hereto.

  • Loan Note means each Loan Note of the Borrower in the form of Exhibit C attached hereto, payable to the order of a Funding Agent for the benefit of the Lenders in such Funding Agent’s Lender Group, in the aggregate face amount of up to such Lender Group’s portion of the Maximum Facility Amount, evidencing the aggregate indebtedness of the Borrower to the Lenders in such Funding Agent’s Lender Group.

  • Counterpart Agreement means a Counterpart Agreement substantially in the form of Exhibit G delivered by a Credit Party pursuant to Section 5.10.

  • Future Advance means an Advance made after the Initial Closing Date.

  • Assignment and Conveyance Agreement As defined in Subsection 6.01.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 2019-B SUBI Collection Account by the related Deposit Date.

  • Conveyance Agreement means the Conveyance Agreement Master Securitization Terms Number 1000, dated February 29, 2008, as amended and reaffirmed from time to time, among the Master Depositor, Deutsche Bank Trust Company Americas (as successor in interest to The Bank of New York Mellon Trust Company, National Association, formerly known as The Bank of New York Trust Company, N.A.), as eligible lender trustee for the benefit of the Master Depositor, VL Funding, as the depositor, Deutsche Bank Trust Company Americas (as successor in interest to The Bank of New York Mellon Trust Company, National Association, formerly known as The Bank of New York Trust Company, N.A.), as eligible lender trustee for the benefit of VL Funding, and Xxxxxx Xxx, Inc., as master servicer, together with each executed Purchase Agreement (as defined therein), each executed Xxxx of Sale (as defined therein) and all attachments thereto.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • conveyancer means the conveyancer described at paragraph 6 of the Schedule;

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Subsidiary Joinder Agreement means a joinder to this Agreement, substantially in the form of Exhibit C.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.