Legacy Loan definition
Examples of Legacy Loan in a sentence
Servicer agrees to continue to comply with all terms and conditions of the Credit Agreement, certain loan documents to which it is a party executed in connection with the Legacy Loan Agreement, and the Transfer and Assignment Agreement and the Trust Agreement, and all such agreements and their applicability hereto shall not be deemed to have been modified by the amendment and restatement of the Prior Servicing Agreement effected hereby.
However, the Manager’s Management Fee shall not be reduced in respect of any equity investment the Company may decide to make in a Legacy Securities PPIF or Legacy Loan PPIF managed by an entity other than the Manager or any of its Affiliates.
To the Knowledge of Legacy and the Legacy Subsidiaries, prior to the period of (x) Legacy’s or any of the Legacy Subsidiaries’ ownership or operation of any of their respective current properties or (y) Legacy’s or any of the Legacy Subsidiaries’ participation in the management of any Legacy Loan Property, there was no material contamination by or release of Materials of Environmental Concern in, on, under or affecting such properties.
The first Interim Reconciliation Loan Report shall reflect activity related to mortgage insurance for: (x) a Legacy Loan from the Pre-Closing Cut-off Date to the end of the first full month following the Signing Date, (y) a Subequently Paid Claim from the Pre-Closing Cut-off Date to the end of the first full month following the Signing Date, and (z) a Servicing Only Loan from the Pre-Closing Cut-off Date to the end of the first full month following the Signing Date.
The Legacy Loan shall be guaranteed by ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and, in connection therewith, Newpar shall cause ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ to execute and deliver to Legacy all documents, agreements and instruments reasonably required by Legacy.
For purposes of this Agreement: (i) the sum of Fifty-One Thousand Five Hundred Ninety-Eight Dollars ($51,598.00) shall be deemed to constitute an Additional Capital Contribution of Newpar to the Company pursuant to this Section 5.1.1; and (ii) Legacy shall be deemed to have advanced to Newpar under the Legacy Loan the above-described sum of Fifty-One Thousand Five Hundred Ninety-Eight Dollars ($51,598.00).
Notwithstanding any provision of this Agreement to the contrary, in the event Legacy advances to Newpar the Legacy Loan pursuant to Section 5.1.1 hereof, no Distributions of Net Cash shall be made to Newpar until such time as the outstanding balance of principal and accrued interest owing under the Legacy Loan has been paid in full.
In the event Newpar fails to contribute to the Company Newpar's proportionate share of the amount of the additional capital required pursuant to this Section 5.1.1(ii) within thirty (30) calendar days after receipt by Newpar of such notice, Legacy shall have the right, but not the obligation, to advance as a loan to Newpar the amount of Newpar's proportionate share of any additional capital required pursuant to this Section 5.1.1(ii) ("Legacy Loan").
On the Settlement Effective Date, the Administrative Agent, the Required Lenders and the Legacy Loan Parties agree to execute and deliver Amendment No. 3 to Amended and Restated Credit Agreement (“▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ No. 3”) in the form attached as Exhibit 4.
All documents, agreements and instruments required by Legacy in connection with the Legacy Loan shall be in form and substance reasonably satisfactory to Legacy.