Examples of Mandatory Further Advance in a sentence
In the event that the Seller fails to make any Mandatory Further Advance to a Borrower in circumstances where it had agreed to make such advance by virtue of the provisions of sub-clause 8.3.1 and where it had been put in funds by the Administrator to make such advance pursuant to sub-clause 8.3.3, the Seller shall indemnify the Issuer and the Trustee against any loss resulting from that failure.
For the avoidance of doubt, no Mandatory Further Advance shall be made to a Borrower nor shall any drawings as contemplated in sub-clause 8.3.3 be made by the Administrator to provide funds to the Seller for the making of any Mandatory Further Advance if the Seller or the Administrator has notice that the relevant Borrower was or is in breach of the relevant Mortgage Conditions.
If the relevant Legal Title Holder fails to make a Mandatory Further Advance having agreed to do so prior to the relevant borrower being notified of the assignment of the relevant Mortgage (see "The Mortgages – Perfection of title"), set-off rights may arise.
None of the Administrators, the Sellers, the Issuer or the Trustee has undertaken or will undertake any investigation or search of any kind prior to the making of a Mandatory Further Advance to a borrower or, in some circumstances, the making of a Discretionary Further Advance.
For the avoidance of doubt, the Administrator and the Seller or, as the case may be, the Issuer shall take all necessary steps to ensure that no such Mandatory Further Advance is made to a Borrower after receipt of notice by any of them that the relevant Borrower has created a second mortgage or charge over the Property unless such second mortgage or charge has been expressly postponed to all future Mandatory Further Advances to be made to such Borrower.
Full satisfaction by the Seller of its obligations under such indemnity by way of a payment to the Issuer or the Trustee shall constitute a full discharge and release of the Seller from any claim which the Issuer or the Trustee may have against the Seller arising from such failure to make any Mandatory Further Advance.
Pilot will acknowledge with callsign.4.6.6. MOA recovery Options.
The Issuer hereby agrees that, in all cases where the Seller makes a Mandatory Further Advance, but subject always to Clause 8.4, the funds for the making of each such Mandatory Further Advance will be made available by it to the Seller or to its order in the manner specified in sub clause 8.3.3.
And those two hippies were sitting there for hours, just sitting there, doing nothing.
These shares have essentially come into the possession of the investor owing to a corporate action on a grandfathered investment, as opposed to an active act of investing, and hence should be accorded the same treatment as the original grandfathered investment.