Delivering Proof of Approval Sample Clauses

Delivering Proof of Approval. When the Buyer receives written proof of the lender’s approval, a copy of that documentation will need to be provided to the Seller. Use a specific date for the deadline for the Buyer to deliver a copy of the approval to the Seller. Because time is of the essence, be realistic in establishing this date by considering all the elements in the approval process. The Seller must receive a copy of the written approval by the deadline or the Seller will have the option to terminate the Agreement in writing. Notifying the Seller via email or telephone is not sufficient. Practice Tip: While calculating a date to put in the blank, be sure to include time for: acceptance of the offer by the Seller, filling out and submitting an application. action on the application by a lender, delivery of a copy of the approval to the Seller, and any necessary cushion for unexpected delays or glitches. Many of these items will be based on market practice or the practice of local lenders; be sure to have all this information at hand before filling out the Agreement so you can provide a realistic estimate for your client. If a copy of the approval is not delivered to the Seller by the deadline provided, the Buyer is still obligated to seek financing. However, until the written documentation is received, the Seller has the right to terminate the Agreement. If a copy of the documentation is not delivered by the deadline set forth in Paragraph 8(B), the Seller has the right to terminate the Agreement at any time until that documentation is received. The Buyer must promptly deliver a copy of the documentation to the Seller or the Broker for the Seller. The mortgage contingency is not satisfied until a copy of the written approval is delivered to the Seller, so the Buyers should be sure to make delivery as early as possible. After the date listed in Paragraph 8(B), the Seller may terminate the Agreement in writing even if approval is eventually obtained, if the lender’s approval contains any additional conditions that are not removed by the Buyer within 7 days of the deadline. This 7-day period allows the Buyer to satisfy or convince the lender to remove any condition, large or small.
Sample 1
AutoNDA by SimpleDocs

Related to Delivering Proof of Approval

  • Waiver of Notice; Approval of Meeting; Approval of Minutes The transactions of any meeting of Limited Partners, however called and noticed, and whenever held, shall be as valid as if it had occurred at a meeting duly held after regular call and notice, if a quorum is present either in person or by proxy. Attendance of a Limited Partner at a meeting shall constitute a waiver of notice of the meeting, except when the Limited Partner attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened; and except that attendance at a meeting is not a waiver of any right to disapprove the consideration of matters required to be included in the notice of the meeting, but not so included, if the disapproval is expressly made at the meeting.

  • Settlement Approval The approval of the Master Servicer need not be requested for disposition of insurance loss settlements and the Servicer may disburse the loss proceeds as provided herein.

  • Waiver of Notice; Approval of Meeting Whenever notice to the Members is required to be given under this Agreement, a written waiver, signed by the Person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a Person at any such meeting of the Members shall constitute a waiver of notice of such meeting, except when the Person attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Members need be specified in any written waiver of notice unless so required by resolution of the Board. All waivers and approvals shall be filed with the Company records or made part of the minutes of the meeting.

  • MOTION FOR FINAL APPROVAL Not later than 16 court days before the calendared Final Approval Hearing, Plaintiff will file in Court, a motion for final approval of the Settlement that includes a request for approval of the PAGA settlement under Labor Code section 2699, subd. (l), a Proposed Final Approval Order and a proposed Judgment (collectively “Motion for Final Approval”). Plaintiff shall provide drafts of these documents to Defense Counsel not later than seven days prior to filing the Motion for Final Approval. Class Counsel and Defense Counsel will expeditiously meet and confer in person or by telephone, and in good faith, to resolve any disagreements concerning the Motion for Final Approval.

  • Application for approval 3.1. The application for approval of a vehicle type with regard to sound shall be submitted by its manufacturer or by his duly accredited representative.

  • Approval of Plans and Specifications The Plans and Specifications will conform to the requirements and conditions set out by applicable law or any effective restrictive covenant, and to all governmental authorities which exercise jurisdiction over the Leased Premises or the construction thereon.

  • New Project Approval Consultant and District recognize that Consultant’s Services may include working on various projects for District. Consultant shall obtain the approval of District prior to the commencement of a new project.

  • Final Approval Hearing “Final Approval Hearing” shall mean the hearing at which the Court will consider and finally decide whether to enter the Final Judgment.

  • Final Approval After Acceptance, Engineer shall perform any required modifications, changes, alterations, corrections, redesigns, and additional work necessary to receive Final Approval by the County. "Final Approval" in this sense shall mean formal recognition that the Engineering Services have been fully carried out.

  • PROOF OF LICENSE The Contractor must provide to each Licensee who places a Purchase Order either: (i) the Product developer’s certified License Confirmation Certificates in the name of such Licensee; or (ii) a written confirmation from the Proprietary owner accepting Product invoice as proof of license. Contractor shall submit a sample certificate, or alternatively such written confirmation from the proprietary developer. Such certificates must be in a form acceptable to the Licensee.

Time is Money Join Law Insider Premium to draft better contracts faster.