Scheduled Loans definition
Examples of Scheduled Loans in a sentence
If any of the Scheduled Loans is sold for a cash purchase price less than at least the unpaid principal balance, plus any accrued but unpaid interest as of the date of sale as reflected in the financial statements of the Company, the after-tax amount of the discount taken on such loan shall be deducted from the Company’s allowance for loan losses.
Attached hereto as Schedule 1 is a list of certain -------------- loans in DSB's portfolio as of the Closing Date (the "Scheduled Loans"), setting forth the portion of the Escrowed Funds attributable to each such loan ("Loan Escrow Amount").
Notwithstanding anything in this Agreement to the contrary, the sale, collection or charge-off of all Scheduled Loans shall be a condition to Closing.
For the periods of ninety (90) days following the Closing Date, as of the end of each thirty (30) days during such period, Buyer shall by written notice to Seller identify each of the Branch Loans (the "Scheduled Loans") that, as of the date of such notice, are (i) sixty (60) days or more past due; (ii) subject to bankruptcy or any other form of legal proceedings arising after the Closing; or (iii) subject to any material contingency, which substantially impairs the prospects for collection of such Loan.
The Seller and the Company shall have agreed upon the list of Scheduled Loans pursuant to Section 3.02(b)(ii).
The Company shall transfer legal and beneficial ownership in and to the Scheduled Loans to the purchaser thereof by the execution and delivery of all necessary assignments and endorsements, in form appropriate for recording, and the delivery of all escrow amounts, loan files, documents and other information related to the Scheduled Loans.
Thereupon, provided none of the Scheduled Loans have been amended, terminated or altered without the consent of Seller, Seller agrees at Seller's election either to repurchase the Scheduled Loans for the Repurchase Price or to indemnify and hold Buyer harmless from any losses that it may sustain on account of any of the Scheduled Loans not so repurchased.
The sale and transfer, without recourse, or the collection or charge-off, of each of the Scheduled Loans set forth in Schedule 5.12, as contemplated by Section 5.12, shall have been completed.
Repay each Scheduled Loan in full at the end of the Interest Period applicable thereto, and terminate the Existing Revolving Credit Agreement at such time as all Scheduled Loans outstanding thereunder have been paid.
On the date five (5) days prior to the contemplated Closing Date (as determined by the Company pursuant to Section 2.02), the Seller shall deliver to the Company a list, certified as to its accuracy by the Chief Executive Officer of the Seller, of each of the loans or other lending relationships, if any, classified by the Seller or the Bank as of such date as a "4" or higher (e.g., "5" or "6") in accordance with the Loan Classification Policy (collectively, the "Scheduled Loans").