Loan settlement definition

Loan settlement means the occurrence of all of the fol- lowing:

Loan settlement means any settlement or compromise with borrowers, lenders, investors, business partners, joint ventures, brokers, and any other Person with an interest in, or in the proceeds of, a Loan Asset, including, without limitation, the arrangement of short sales, payments for borrower cooperation, institution and prosecution of legal actions, forgiveness of debt and conveyance of direct or indirect interests in real property, including, without limitation, the release of collateral, borrowers, guarantors, and/or sponsors, as well as the sale of such Loan Asset to a party or parties related to such borrowers, guarantors, and/or sponsors.

Loan settlement has the meaning set forth in the preamble;

Examples of Loan settlement in a sentence

• The Creditor represents, warrants and covenants to and in favour of the Optionee and the Optionor the representations and warranties set out at Schedule “E”, and acknowledges that the Optionee and the Optionor are relying upon such representations, warranties and covenants in proceeding with the Loan Settlement and transactions contemplated by this Agreement, as applicable.

• On each Revolving Loan Settlement Date, the Agent shall notify each Lender of the issuance of all Letters of Credit since the prior Revolving Loan Settlement Date.

• Each such payment shall be made by the Agent on the next Revolving Loan Settlement Date.

• The Creditor has not conveyed, transferred or assigned any portion of its interest in the Outstanding Amount or any portion of its interest in and to the Loan Agreement or GSA to any third party, and has full right, power and authority to enter into this Agreement and to accept the Outstanding Amount in full and final satisfaction of the amounts owing pursuant to the Loan Agreement and to complete the Loan Settlement.

More Definitions of Loan settlement

Loan settlement means the occurrence of all of the following:

Loan settlement. The closing and funding of a loan by Liberty Bank. Liberty Bank’s Compensation Options: Broker must elect either the Lender-Paid Compensation option or the Borrower-Paid Compensation option, each as described below, for each loan which it originates for Liberty Bank. Lender-Paid Compensation: