Identified Loans definition
Examples of Identified Loans in a sentence
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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.
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 Northern does not deliver written notice to Cowlitz of Northern's objection to such identification and classification of Identified Loans within three (3) business days after receipt thereof, then such identification and classification shall be deemed final and binding on the parties.
The loans established as classified loans pursuant to this Section 2.6(d) are sometimes herein referred to as the "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.
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.
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.
If any of the Identified Loans is sold for a cash purchase price less than at least the unpaid principal balance, plus any accrued but unpaid interest as of the date of sale as reflected in the financial statements of the Company, the after-tax amount of the discount taken on such loan shall be deducted from the Company’s allowance for loan losses.
The loans established as classified loans pursuant to this Section 2.6(d) and as may be updated pursuant to Section 2.6(f) are sometimes herein referred to as the "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.