Identified Loans definition

Identified Loans shall have the meaning set forth in Section 2.1(c).
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Identified Loans means the loans set forth on Oconee Federal Disclosure Schedule 1.01. As of January 31, 2014, the amount of Identified Loans was $17,144,287.
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Identified Loans. The list of Identified Loans, as may be updated pursuant to Section 2.6(f) shall be attached as an exhibit to the Escrow Agreement. To the extent permitted by United States generally accepted accounting principles ("GAAP"), Northern agrees that it will have provided on its books prior to the Effective Time a reserve for each Identified Loan at least equal to (A) 5% of the principal amount of each Identified Loan classified as Special Mention, (B) 15% of the principal amount of each Identified Loan classified as Substandard, (C) 50% of the principal amount of each Identified Loan classified as Doubtful and (D) 100% of each Identified Loan classified as Loss, as well as a general reserve equal to 1 1/2% of the aggregate principal amounts of all outstanding loans (including without limitation all Identified Loans). Nothing in the immediately preceding sentence shall be deemed to preclude Northern from establishing, to the extent permitted by GAAP, reserves allocated to specific loans in amounts greater than set forth in such preceding sentence.
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Examples of Identified Loans in a sentence

  • This Section shall not impose on Seller any obligation to cure defects identified with respect to Identified Loans pursuant to Section 2.08(f), the decision to cure such defects being within the sole discretion of Seller.

  • Purchaser shall notify Seller in writing of the existence of any additional Identified Loans no later than ten (10) Business Days following the expiration of the Supplemental Review Period.

  • If such general reserve is less than 1 1/2%, then the Loan Adjustment Factor will equal the different between (i) 1 1/2% and (ii) the percentage of the remaining general reserve that would be applicable to the Identified Loans after moving sufficient general reserves to the non-Identified Loans so that all non-Identified Loans would have a general reserve of 1 1/2%.

  • Purchaser shall notify Seller in writing of the existence of any additional Identified Loans no later than ten (10) Business Days following the expiration of the Initial Review Period.

  • During such three-year period, IBKC shall use its reasonable best efforts to maximize collections and preserve the value of the Identified Loan Account, in accordance with prudent and reasonable commercial practices and procedures appropriate to the administration of the Identified Loans.

  • The sale and transfer, without recourse, or the collection or charge-off, of each of the Identified Loans, as contemplated by Section 5.11 hereof, shall have been completed.

  • The Company shall transfer legal and beneficial ownership in and to the Identified Loans to the purchaser thereof by the execution and delivery of all necessary assignments and endorsements, in form appropriate for recording, and the delivery of all escrow amounts, loan files, documents and other information related to the Identified Loans.

  • Interim Payment Date Prior to the Maturity Date, the occurrence of either (A) the complete pay off of a loan identified on Section A of the BCB Disclosure Memorandum (the “Identified Loans”), or (B) the receipt of additional collateral, guarantees or such other credit metrics as may allow the Special Committee, in its sole discretion, to re-classify any of such Identified Loans as nonclassified loans without any Expected Losses.

  • Notwithstanding anything in this Agreement to the contrary, the sale, collection or charge-off of all Identified Loans shall be a condition to Closing.

  • Associate Membership includes access to a limited range of services offered by the Association, as determined by the Board from time to time.FAIR WORK COMMISSIONForm F68 – Application for consent to the alteration of the eligibility rules of an organisation Attach additional pages if necessary.


More Definitions of Identified Loans

Identified Loans means the loans identified in Section A of the PSB Disclosure Memorandum to the Merger Agreement.
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Identified Loans has the meaning assigned to such term in Section 2.1(E).
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Identified Loans. As used herein, Loan Examiner shall mean Xxxx Xxxxxx or any loan examiner, loan reviewer or loan auditor (other than a current employee, officer or director of Cowlitz, Cowlitz Bank or Northern) with at least ten (10) years experience in commercial lending, banking and/or bank examining, including at least two (2) years as a loan examiner, loan reviewer or loan auditor. Northern agrees to provide access for the Loan Examiners as provided in Section 7.2(a) hereof. To the extent permitted by United States generally accepted accounting principles ("GAAP"), Northern agrees that it will have provided on its books prior to the Effective Time a reserve for each Identified Loan at least equal to (A) 5% of the principal amount of each Identified Loan classified as Special Mention, (B) 15% of the principal amount of each Identified Loan classified as Substandard, (C) 50% of the principal amount of each Identified Loan classified as Doubtful and (D) 100% of each Identified Loan classified as Loss, as well as a general reserve equal to 1 1/2% of the aggregate principal amounts of all outstanding loans (including without limitation all Identified Loans). Nothing in the immediately preceding sentence shall be deemed to preclude Northern from establishing, to the extent permitted by GAAP, reserves allocated to specific loans in amounts greater than set forth in such preceding sentence.
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Related to Identified Loans

  • Specified Loan Party means any Loan Party that is not an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 10.19).

  • Qualified Loan means a loan made under this act or former 1961 PA 108 from this state to a school district to pay debt service on a qualified bond.

  • Related Loans has the meaning set forth in Section 3.1. “Restructuring Loss” means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Permitted Loans means:

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Other Loans means one or more Classes of Loans that result from a Refinancing Amendment or a Loan Modification Agreement.

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Related Loan means any loan or extension of credit to an Obligor of a Shared-Loss Loan held by the Assuming Institution at any time on or prior to the end of the Final Shared-Loss Month.

  • Purchased Loans means, with respect to each Purchase Agreement, the Loans offered for sale and purchased or substituted pursuant to such Purchase Agreement.

  • Specified Liabilities means Claims (as defined in the Indemnification Agreement).

  • Qualified Lender means a lender approved by the federal department of housing and urban development to enter into a loan insured by the federal government under 12 USC 1715z−20.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Designated loan means a loan se- cured by a building or mobile home that is located or to be located in a special flood hazard area in which flood insurance is available under the Act.

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Loan Assets means, collectively and as applicable, the Initial Loan Assets, the Substitute Loan Assets and the Additional Loan Assets, as applicable.

  • Disqualified Lenders means the Persons listed on Schedule 1.01B.

  • Mortgage Loan Borrower Related Party shall have the meaning assigned to such term in Section 13.

  • Committed Loans means loans made pursuant to Section 2.1(a).

  • Serviced Loan A Serviced Mortgage Loan or Serviced Companion Loan.

  • Advance Facility As defined in Section 3.22.

  • Serviced Loan Combination A Loan Combination that is being serviced pursuant to this Agreement. The only Serviced Loan Combinations related to the Trust as of the Closing Date are the Loan Combinations as to which “Serviced” is set forth in the Loan Combination Table under the column heading “Servicing Type,” together with any Servicing Shift Loan Combinations. A Servicing Shift Loan Combination will no longer be a Serviced Loan Combination on and after the related Servicing Shift Date.

  • Disqualified Lender means (i) any Person identified in writing by the Borrower or the Sponsor to the Administrative Agent on or prior to May 4, 2017, (ii) any other Person identified by name in writing to the Administrative Agent after May 4, 2017 to the extent such Person is or becomes a competitor of the Borrower or its subsidiaries and (iii) any Affiliate of any Person referred to in clause (i) or (ii) above that is clearly identifiable on the basis of its name; provided that a “competitor” or an Affiliate of any Person referred to in clauses (i) or (ii) above shall not include any Bona Fide Debt Fund or investment vehicle that is engaged in making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary course of business which is managed, sponsored or advised by any Person controlling, controlled by or under common control with such competitor or Affiliate, as applicable, and for which no personnel involved with the investment of such competitor or Affiliate thereof, as applicable, (i) makes any investment decisions or (ii) has access to any information (other than information that is publicly available) relating to the Loan Parties or any entity that forms a part of the Loan Parties’ business (including their subsidiaries); provided, further, that (x) no Affiliate of an Initial Lender shall be designated a Disqualified Lender, (y) the Administrative Agent shall not have any responsibility for monitoring compliance with any provisions of this Agreement with respect to Disqualified Lenders and (z) updates to the Disqualified Lender list shall not retroactively invalidate or otherwise affect any (A) assignments or participations made to, (B) any trades entered into with or (C) information provided to, any Person before it was designated as a Disqualified Lender. It is acknowledged and agreed by the Borrower that the Administrative Agent shall be permitted to disclose to any Lender upon such Lender’s request whether any potential assignee or participant is a Disqualified Lenders.

  • Eligible Loan Asset means, at any time, a Loan Asset in respect of which each of the representations and warranties contained in Section 4.02 and Schedule III hereto is true and correct.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.