Examples of Program Loans in a sentence
The United States of America, acting through the United States Department of Agriculture (“USDA”), agrees to enter into Loan Note Guarantees with the Lender issued pursuant to the regulations for B&I/Section 9006 Program Loans, and to participate in a percentage of any loss on any such loans not to exceed the amount established in the Loan Note Guarantee.
The Lender acknowledges and agrees that its losses on Program Loans may exceed the funds available in the Lender's Reserve Fund Balance.
Program Loans must satisfy the minimum underwriting criteria specified in the Requirements.
Following the Final Payment, the Lender shall continue to track the Program Loans and the use of the Final Payment with respect to such Program Loans.
Lender shall maintain such records with respect to the Program Loans as it customarily maintains with respect to other loans it makes of a similar nature.
Lender will use reasonable efforts to educate appropriate staff concerning Program Loans.
This Agreement is not a guarantee of the full amount of Program Loans.
Town hereby grants to Bank a security interest in such funds as collateral for the prompt and timely repayment of such Program Loans made in reliance on the Bank’s investigation and evaluation of the creditworthiness of the applicant in a manner consistent with its customary practice for a consumer loan in the amount proposed without the benefit of a loss reserve.
The United States of America, acting through the United States Department of Agriculture (“USDA”), agrees to enter into Loan Note Guarantees with the Lender issued pursuant to the regulations for B&I/Rural Energy for America Program Loans, and to participate in a percentage of any loss on any such loans not to exceed the amount established in the Loan Note Guarantee.
Contributions made to the Reserve Fund on account of Lender shall be deposited jointly with contributions made on account of all Program Loans.