Repayment Agreement definition
Examples of Repayment Agreement in a sentence
Invalidation of any clause, provision, warranty, covenant, or restriction contained in this Repayment Agreement by judgment or court order shall, in no way, affect any other clause, provision, covenant, warranty, or restriction which shall remain in full force and effect, and shall be enforced to the greatest extent permitted by law, or in equity.
This Repayment Agreement shall expire of its own terms at the end of the Repayment Period.
The terms, conditions, obligations, restrictions, covenants, representations and warranties contained in this Repayment Agreement shall be effective upon execution and delivery of this Repayment Agreement with respect to the Real Property and shall continue in full force and effect throughout the Repayment Period, it being expressly agreed and understood that the provisions hereof are intended to survive the repayment of the Mortgage Loan, if repaid within the Repayment Period.
In the event the Real Property is acquired during the term of the Repayment Agreement by bona fide foreclosure, by transfer in lieu of bona fide foreclosure, or by an assignment of the Mortgage Loan to the applicable Mortgage insurer or guarantor, the Declaration of Restrictive Covenant Running with the Real Property shall automatically terminate with respect to such Real Property.
Section titles are for descriptive purposes only and shall not control or limit the meaning of this Repayment Agreement as set forth in the text.