Examples of Mortgage Loan Obligors in a sentence
All payments from the Mortgage Loan Obligors with respect to Mortgage Loans and for all other account debtors of Borrower will be deposited directly into the Depository Account, and Bank is authorized to transfer to the Depository Account any funds which are Mortgage Loan Obligors or other account debtor payments but which have been deposited into any other depository account of Borrower at Bank.
All payments from the Mortgage Loan Obligors with respect to Mortgage Loans and for all other account debtors of Borrower will be deposited directly into the Depository Account.
The names of the Mortgage Loan Obligors, amounts owing, interest rates, due dates and other facts furnished to Agent with respect to any of the Mortgage Loans have been and will be correctly stated in all material respects.
The Mortgage Loan Notes evidence bona fide indebtedness owing to Borrower by the Mortgage Loan Obligors, and the Mortgage Loan Obligors have no rights to setoff, counterclaim or defenses with respect to the payment or performance of any obligations under the Mortgage Loan Documents, including, without limitation, laws relating to usury, truth-in-lending, real estate settlement procedures, consumer credit protection, equal credit opportunity or disclosure laws relating to the Mortgage Loans.
Upon written notice to Borrower from Lender, Borrower will advise the Mortgage Loan Obligors and all of its other account debtors to direct their payments to the Lockbox, at the address established by the Lockbox arrangements.
Banks shall also have the right to contact Mortgage Loan Obligors to verify the status of Mortgage Loans that are Collateral for the Loans.
Upon written notice to Borrower from Bank, Borrower will advise the Mortgage Loan Obligors and all of its other account debtors to direct their payments to the Lockbox, at the address established by the Lockbox arrangements.
Mortgage Loan Obligors incapable of paying all such amounts upon demand are permitted to pay in installments pursuant to a repayment schedule satisfactory to the Servicer.
In no event shall the Management Fee exceed the sum of 1.25% of Average Invested Assets up to $35,000,000, 1.00% of Average Invested Assets between $35,000,000 and $50,000,000, and 0.75% of Average Invested Assets in excess of $50,000,000, nor shall the Manager retain, or be entitled to retain, more than fifty percent (50%) of the origination fees charged to Mortgage Loan Obligors in connection with the Mortgage Loans, or any renewals thereof.
Evidence that each Lockbox Account has been established in accordance with ss.7.15, and that notice has been given to all Mortgage Loan Obligors regarding the making of payments on the Mortgage Loans to the appropriate Lockbox Account, as provided in the Lockbox Agreement, or that provision for such notice to be given immediately after the Closing Date has been duly made to the Agent's satisfaction.