Key Principal means the natural person(s) or entity identified as such at the foot of this Instrument, and any person or entity who becomes a Key Principal after the date of this Instrument and is identified as such in an amendment or supplement to this Instrument.
Key Principal means Apartment Investment and Management Company.
Key Principal means (A) the natural person(s) or entity identified as such at the foot of this Instrument; (B) the natural person or entity who signed either the Acknowledgement and Agreement of Key Principal to Personal Liability for Exceptions to Non-Recourse Liability or the Exceptions to Non-Recourse Guaranty (or is otherwise a guarantor on the Indebtedness); and (C) any person or entity who becomes a Key Principal after the date of this Instrument and is identified as such in an assumption agreement, or another amendment or supplement to this Instrument or who otherwise signs either the Acknowledgement and Agreement of Key Principal to Personal Liability for Exceptions to Non-Recourse Liability or Exceptions to Non-Recourse Guaranty (or any other guaranty of the Indebtedness).
Examples of Key Principal in a sentence
Key Principal Any Person who controls and/or manages the Borroweror the Property, is critical to the successful operation and management of the Borrower and the Property, and who may be required to provide a Guaranty.
You do not need to obtain a Non-Recourse Guaranty if the Borrower is a Cooperative Organization or if the Key Principal (who would otherwise be the Guarantor) is a publicly traded entity.
A “Continue Processing” response does not mean that the Borrower, Key Principal, or Principal is approved, as the Lender is still required to complete all of the Mortgage Loan credit underwriting required in the Guide.
Date: Signature of Key Principal of RespondentEXHIBIT B For each project described in Section E.2.b.6. put an "x" in the box if the Respondent performed the function or utilized the described financing.
An acceptable entity Key Principal must have an established track record of successful business performance and sufficient financial strength.
More Definitions of Key Principal
Key Principal means, collectively:
Key Principal means the natural person(s) identified as such at the foot of the Rider, and any natural person who becomes a Key Principal after the date of the Note and are identified as such in an amendment or supplement to the Loan Documents.
Key Principal means the individual or individuals who guarantee certain obligations of the Mortgagor to the Bank which are recourse to the partners of the Mortgagor under certain limited circumstances.
Key Principal. Xxxxxx X. Xxxxxxxxx, an individual. LEASES: all leases and other agreements or arrangements heretofore or hereafter entered into affecting the use, enjoyment or occupancy of, or the conduct of any activity upon or in, the Property or the Improvements, including any guarantees, extensions, renewals, modifications or amendments thereof and all additional remainders, reversions and other rights and estates appurtenant thereunder. LEGAL REQUIREMENTS: statutes, laws, rules, orders, regulations, ordinances, judgments, decrees and injunctions of Governmental Authorities affecting any Borrower, any Loan Document or all or part of the Property or the construction, ownership, use, alteration or operation thereof, whether now or hereafter enacted and in force, and all permits, licenses and authorizations and regulations relating thereto, and all covenants, agreements, restrictions and encumbrances contained in any instrument, either of record or known to any Borrower, at any time in force affecting all or part of the Property.
Key Principal. With respect to a Mortgage Loan, any Person identified as such in the Mortgage Documents or any Person other than the Borrower (i) that has or assumes an obligation, liability or indebtedness under the Mortgage Documents, or (ii) whose ownership interests are directly or indirectly restricted from transfer under the Due-on-Transfer Provisions in the Mortgage Documents. LACE: LACE Financial Corporation or its successor.
Key Principal means Bxxxx X. Xxxxx.
Key Principal. (each if more than one) shall mean only those individuals or entities that execute this Acknowledgment. The obligations of Key Principal shall be performed without demand by Lender and shall be unconditional irrespective of the genuineness, validity, or enforceability of the Note, or any other Loan Document, and without regard to any other circumstance which might otherwise constitute a legal or equitable discharge of a surety or a guarantor. Key Principal hereby waives the benefit of all principles or provisions of law, which are or might be in conflict with the terms of this Acknowledgment, and agrees that Key Principal's obligations shall not be affected by any circumstances which might otherwise constitute a legal or equitable discharge of a surety or a guarantor. Key Principal hereby waives the benefits of any right of discharge and all other rights under any and all statutes or other laws relating to guarantors or sureties, to the fullest extent permitted by law, diligence in collecting the Indebtedness, presentment, demand for payment, protest, all notices with respect to the Note including this Acknowledgment, which may be required by statute, rule of law or otherwise to preserve Xxxxxx's rights against Key Principal under this Acknowledgment, including notice of acceptance, notice of any amendment of the Loan Documents, notice of the occurrence of any default or Event of Default, notice of intent to accelerate, notice of acceleration, notice of dishonor, notice of foreclosure, notice of protest, notice of the incurring by Borrower of any obligation or indebtedness and all rights to require Lender to (a) proceed against Borrower, (b) proceed against any general partner of Borrower, (c) proceed against or exhaust any collateral held by Xxxxxx to secure the repayment of the Indebtedness, or (d) if Borrower is a partnership, pursue any other remedy it may have against Xxxxxxxx, or any general partner of Xxxxxxxx. At any time without notice to Key Principal, and without affecting the liability of Key Principal hereunder, (a) the time for payment of the principal of or interest on the Indebtedness may be extended or the Indebtedness may be renewed in whole or in part; (b) the time for Borrower's performance of or compliance with any covenant or agreement contained in the Note, or any other Loan Document, whether presently existing or hereinafter entered into, may be extended or such performance or compliance may be waived; (c) the maturity of the Indebt...