Take-out Commitment means a commitment of Seller to either (a) sell one or more identified Mortgage Loans to a Take-out Investor or (b) (i) swap one or more identified Mortgage Loans with a Take-out Investor that is an Agency for an Agency Security, and (ii) sell the related Agency Security to a Take-out Investor, and in each case, the corresponding Take-out Investor’s commitment back to Seller to effectuate any of the foregoing, as applicable. With respect to any Take-out Commitment with an Agency, the applicable agency documents list Buyer as sole subscriber.

Take-out Commitment means a commitment of Seller to sell one or more Purchased Mortgage Loans to a Take-out Investor in an arms-length, all cash transaction, and the corresponding Take-out Investor’s commitment back to Seller to effectuate the foregoing.

Take-out Commitment means with respect to any Eligible Mortgage Loan, a written master commitment of an Investor to purchase a pool of Mortgage Loans or an individual commitment of an Investor to purchase an individual Mortgage Loan under which such Eligible Mortgage Loan(s) will be delivered to such Investor on terms satisfactory to the Administrative Agent, in its reasonable discretion.

Examples of Take-out Commitment in a sentence

The Corporation has provided a Take-out Commitment to the Construction Lender who is financing the construction and/or rehabilitation of the Qualified Project, all for the purpose, among others, of inducing the Borrower to construct or acquire, renovate, equip and operate the Qualified Project.
The Borrower and the LHC acknowledge and agree that the Construction Lender is financing the Construction Loan in reliance on a Take-out Commitment from the LHC on the Conversion Date and that the Take-out Commitment requires the Borrower to have executed and delivered all of the RRDP Loan Documents.
The Borrower acknowledges that the Take-out Commitment by the Corporation to the Construction Lender selected by Borrower is not nor shall be deemed to be an assignment of CDBG Funds.
Take-out Commitment Agreement: The Take-out Commitment Agreement dated as of , 202_ among the Borrower, Construction Lender, and the LHC.
WITNESSES: BORROWER By: By: Name: Print Name: Title: By: Print Name: NOTARY PUBLIC Print Name: Bar Roll/Notary No.: My Commission Expires: ATTACHMENT A DESCRIPTION OF PARTICIPATING PARTY ACTIVITIES Construction Lender: Construction Lender will (i) execute Take-out Commitment Agreement, (ii) loan $ to Borrower to construct and/or rehabilitate the Qualified Project and (iii) monitor construction and/or renovation of the Qualified Project.

More Definitions of Take-out Commitment

Take-out Commitment means a written obligation of a person either (a) to purchase real property and the improvements thereon for an amount sufficient to repay the interim construction loan used to acquire and construct such real property and improvements or (b) to provide debt and/or equity financing the proceeds of which are to be used to repay the interim construction loan used to acquire and construct real property and improvements thereon.

Take-out Commitment means a commitment of any Seller or a Seller Party Subsidiary, as applicable, to sell one or more identified Mortgage Loans, Rental Properties or REO Properties to a Take-out Investor.

Take-out Commitment means a current, valid, binding, enforceable, written commitment, issued by an Approved Take-Out Investor to purchase mortgage loans from one of the Sellers from time to time at a specified price (or a specified spread to an agreed-upon index) which commitment is not subject to any term or condition (i) that is not customary in commitments of like nature or (ii) that, in the reasonably anticipated course of events, cannot be fully complied with prior to the expiration thereof, in which a perfected and first-priority security interest has been granted to the Administrative Agent.

Take-out Commitment as defined in Exhibit E. -------------------

Take-out Commitment means a commitment of Guarantor to either (a) sell one or more identified Underlying Mortgage Loans to a Take-out Investor or (b) (i) swap one or more identified Underlying Mortgage Loans with a Take-out Investor that is the Agency for a Xxxxxx Xxx Security, and (ii) sell the related Xxxxxx Mae Security to a Take-out Investor, and in each case, the corresponding Take-out Investor’s commitment back to Guarantor to effectuate any of the foregoing, as applicable. With respect to any Take-out Commitment with the Agency, the applicable agency documents shall list Buyer or its designee under the Joint Securities Account Control Agreement as sole subscriber.