Examples of Key Principals in a sentence
Annual operating deficits shall be funded by the Key Principals under the Operating Deficit Guaranty on or before the date on which annual audited financial statements for the Project are due to IHFA.
Borrower and Key Principals acceptable to IHFA will be required to guarantee annual operating deficits.
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.
You will not be provided any information as to why a particular Borrower, Key Principal, Principal, or Guarantor received a “Do Not Process” response.What about confidentiality?You must establish procedures to ensure that all ACheck responses obtained for Borrowers, Key Principals, Principals, and Guarantors are kept confidential.How do you maintain ACheck results?You must print dated copies of your ACheck inquiries and responses for the Mortgage Loan and include these copies in your Servicing File.
Ensure that the financial strength, experience, qualifications, character, and credit history of the Borrower, Guarantor, Key Principals, and Principals support the size, complexity, structure, and risk of the transaction.