Application for Guarantee Sample Clauses

Application for Guarantee. This agreement shall cover only loans duly approved by Lender and by Authority for guarantee by Authority and is subject to the Rules and Regulations as adopted by Authority. Any loan approved by Lender, contingent upon Authority's guarantee under this agreement, shall be referred to Authority for authorization upon the separate application (“Application”) of an eligible applicant (“Applicant”) submitted jointly by Lender and Applicant. In no event shall the Authority’s guaranteed percentage of any loan exceed: the lesser of the amount authorized, in writing, with respect to any particular borrower; program limits as specified in the ALG Rules; or $750,000.00 (“Maximum Guaranteed Amount"). If the stated guaranteed percentage of any loan, when applied to the outstanding principal balance of such loan, would exceed the Maximum Guaranteed Amount, the stated guaranteed percentage of such loan shall be automatically adjusted downward to the extent required to eliminate such excess guarantee, without any change being made to any document. Lender shall not acquire any preferential security, surety or insurance to protect its unguaranteed interest in a loan. In connection with each loan submitted by Lender to Authority for approval of guarantee hereunder, Lender shall perform such credit investigations, analysis, inquiries, reviews and other underwriting functions as Lender would customarily perform if the subject loan were not guaranteed by Authority, and Lender shall advise Authority of all matters with respect to such loan which do not meet or conform to Lender's underwriting standards. Authority encourages Lender to periodically assess the adequacy of its underwriting standards, taking into account recent loan growth, acquisitions, and changes in Lender’s appetite for risk. The maintenance of adequate underwriting standards is a prerequisite to Lender’s participation in Authority’s ALG Program.
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Application for Guarantee. This Agreement applies to loans made by Lender and approved for guarantee by the Authority after the date of this Agreement (the "Loans"). Approval is subject to applicable law and regulations. Any loan approved by Lender contingent upon the Authority's guarantee must be submitted to the Authority for authorization in accordance with an application furnished or approved by the Authority.

Related to Application for Guarantee

  • Agreement to Guarantee The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 10 thereof.

  • Termination of Guarantee (a) This Guarantee shall terminate upon the occurrence of the following events:

  • Release of Guarantee The Note Guarantees hereunder may be released in accordance with Section 10.2 of the Indenture.

  • Application for Use a. The Employer agrees to accept properly executed leave applications within six (6) months of the first day of the period of leave being requested.

  • Application for Benefits Requests for short-term leaves shall be in writing, upon the appropriate form prescribed and provided by the District, and shall be filed with the unit member's supervisor and the appropriate manager five (5) days in advance of the intended leave (except in emergency situations), unless otherwise stated by the provisions of the specific leave.

  • Guarantee The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Issuer), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer may have or assert. The Guarantor's obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Issuer to pay such amounts to the Holders.

  • Application of Agreement 4.1 This Agreement applies to:

  • New Application for Licensure Any time after the three-month period has lapsed from the Effective Date of this Agreement and Respondent has paid the Administrative Penalty set forth in Section III, Paragraph 1 of this Order, Respondent may apply for a new mortgage loan originator license or, as applicable, petition for the reinstatement of an MLO Activity Endorsement in any or all of the Participating States with the understanding that each State Mortgage Regulator reserves the rights to fully investigate such application for licensure or petition for reinstatement of an MLO Activity Endorsement and may either approve or deny such application or petition pursuant to the normal process for such licensing or endorsement investigations. No license application or petition described in this paragraph will be denied solely based on the facts, circumstances, or consensual resolution provided for in this Agreement. Respondent further agrees that Respondent must satisfy the Administrative Penalty provision prior to submitting an application for a new mortgage loan originator license or, as applicable, petition for the reinstatement of an MLO Activity Endorsement.

  • Application Form The applicant can secure application forms from the principal's office or from the Personnel office. The application shall be filed with the appropriate administrator.

  • The Guarantee Each Guarantor hereby jointly and severally with the other Guarantors guarantees, as a primary obligor and not merely as a surety to each Secured Party and their respective permitted successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of the principal of and interest (including any interest, fees, costs or charges that would accrue but for the provisions of (i) the Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code and (ii) any other Debtor Relief Laws) on the Loans made by the Lenders to, and the Notes held by each Lender of, the Borrower, and all other Secured Obligations from time to time owing to the Secured Parties by any Loan Party or any Subsidiary under any Loan Document or any Secured Hedge Agreement or any Treasury Services Agreement, in each case strictly in accordance with the terms thereof (such obligations, including any future increases in the amount thereof, being herein collectively called the “Guaranteed Obligations”); provided, however, that Guaranteed Obligations shall exclude all Excluded Swap Obligations. The Guarantors hereby jointly and severally agree that if the Borrower or other Guarantor(s) shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Guarantors will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

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