Examples of Litigation Loan in a sentence
Default Loan: Any Mortgage Loan that as of the Sale Date, is a Bankruptcy Loan, Foreclosure Loan or Litigation Loan, as disclosed on the Mortgage Loan Schedule.
Within ten (10) days following the execution of this Agreement, BaM shall pay the legal and consulting expenses incurred by the Barakett Parties for the benefit of BaM and otherwise in facilitating this Agreement and the transactions contemplated hereby in an amount of $80,500, which represents the legal fees, consulting fees, and costs incurred since November 28, 2018 and unrelated to the litigation expenses to be covered by the Litigation Loan Agreement.
Litigation Loan: A Mortgage Loan that, as of the Sale Date, is involved in any Claim before a court, government agency or arbitrator.
In connection with the Original Settlement, BAM and the Barakett Parties have entered into the Litigation Loan Agreement attached hereto as Exhibit E (the “Litigation Loan Agreement”) and such Litigation Loan Agreement remains effective and shall re-delivered upon execution of this Agreement.
Notwithstanding any provision in this Agreement to the contrary, in the event the Litigation Loan has not been paid in full prior to Closing, Buyer reserves the right to withhold the number of shares equal of the value of the outstanding principal and interest of the Litigation Loan until such amounts have been paid in full.