Due-on-Sale definition

Due-on-Sale. With respect to each Fixed Rate Mortgage Loan, the Mortgage contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the mortgagee thereunder, and to the best of the Seller's knowledge, such provision is enforceable;

Due-on-Sale. Clauses; Assumption Agreements.

Due-on-Sale. With respect to each Fixed Rate Mortgage Loan, the Mortgage contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the mortgagee thereunder, and to the best of NC Capital Corporation's knowledge, such provision is enforceable;

Examples of Due-on-Sale in a sentence

• CMHC INSURED INTEREST ONLY LOANS – DUE ON SALE It is acknowledged by the Chargor that if this is a CMHC insured interest only loan this Charge is not intended to be assumable.

• If you are not the original borrower who provided the Mortgage to us, you agree to be bound by all of the obligations of the original borrower under the Mortgage (including the above paragraph headed "DUE ON SALE AND RELEASE") and you will, if we require it, sign and provide us with an agreement confirming same.

• DUE ON SALE CLAUSE, NOTICE OF INTENT TO ACCELERATE, AND NOTICE OF ACCELERATION If all or any interest in the Property is sold or transferred without Lender's prior written consent, Lender may require immediate payment in full of all that I owe under this Loan Agreement.

• ASSUMPTION If you are not the original borrower who provided the Mortgage to us, you agree to be bound by all of the obligations of the original borrower under the Mortgage (including the above paragraph headed "DUE ON SALE AND RELEASE") and you will, if we require it, sign and provide us with an agreement confirming same.

• Affected cats were found to be in normal body condition in 50% of cases (28/56), a further 25% of cases (14/56) were considered to be fat and the other 25% were thin at presentation.Around 61% of cases (34/56) appeared depressed at the time of presentation, with 20% (11/56) being severely depressed and 41% (23/56) moderately depressed.

More Definitions of Due-on-Sale

Due-on-Sale. Clauses; Assumption Agreements. To the extent provided in the applicable Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the related Servicer to enforce such clauses in accordance with the applicable Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with the applicable Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with the applicable Servicing Agreement.

Due-on-Sale. With respect to each Fixed Rate Mortgage Loan, the Mortgage contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the mortgagee thereunder;

Due-on-Sale. This Note is secured by a security instrument described in Section 17 securing repayment of this Note, the property described in such security instrument may not be sold or transferred without the Lender’s consent. If Borrower breaches this provision, Xxxxxx may declare all sums due under this Note immediately due and payable, unless prohibited by applicable law.

Due-on-Sale. Clauses; Assumption Agreements 57 Section 4.13 Release of Mortgage Files 57

Due-on-Sale. Clauses; “Due-on-Encumbrance” Clauses, Assumption Agreements; Release of Collateral.

Due-on-Sale. Clauses. The Partnership's forms of promissory notes and deeds of trust, like those of many lenders generally, contain "due-on-sale" clauses permitting the Partnership to accelerate the maturity of a loan if the borrower sells the property although some forms of the Partnership's promissory notes and deeds of trust will permit assumption by a subsequent buyer, but do not usually contain "due-on-encumbrance" clauses which would permit the same action if the borrower further encumbers the property (i.e., executes further deeds of trust). The enforceability of these types of clauses has been the subject of several major court decisions and Congressional legislation in recent years.

Due-on-Sale. Clauses; Assignment and Assumption Agreements; Modifications of Specially Serviced Mortgage Loans; Due-on-Encumbrance Clauses. Subject to Section 10.3, the terms and conditions of any related Intercreditor Agreement (in the case of any A/B Whole Loan or Loan Pair) and the limitations of Section 12.3, the Special Servicer shall have the following duties and rights: 293