Lien Status Jeopardized Sample Clauses

Lien Status Jeopardized. Lender shall have no obligation to make further Loan Advances if the Lender or the Secretary determines that the lien status of the Security Instrument or the Second Security Instrument is jeopardized under State laws as described in Paragraph 12(a) of the Security Instrument or Second Security Instrument and the lien status is not extended in accordance with Paragraph 12(a).
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Lien Status Jeopardized. If the Secretary or Lender determines that the first lien status of the Security Instrument or the second lien status of the Second Security Instrument is jeopardized because the Principal Balance equals or exceeds the maximum Principal Balance stated in the Security Instrument, or if the period since the first Loan Advance was made equal or exceeds the maximum period under which such advance can retain the status of a first lien under applicable state law, or if the Lender is otherwise prevented by applicable state law from making further Loan Advances secured by a first lien then the part making such determination, or the Lender if requested by the Secretary, shall obtain title evidence at Borrower's expense. If the title evidence indicates that the Property is not encumbered by any liens except the First and Second Security Instruments, or other subordinated to the First and Second Security Instruments in a manner acceptable to Lender, then the Lender shall request Borrower to execute any documents prepared by Lender and 4330.1 REV-5 APPENDIX 68 approved by the Secretary to extend the first and second lien status to an additional maximum loan balance or an additional number of years. Lender shall also explain the principal provisions of the documents to Borrower. Lender shall have no obligation to make Loan Advances if it determines on the basis of title evidence that the Property is encumbered by any liens that jeopardize the first lien status of the Security Instrument or the second lien status of the Second Security Instrument, or if the Borrower refuses to execute any document approved by the Secretary to extend the first and second lien status to an additional maximum Principal Balance or an additional number of years. Lender also shall have no obligation to take any of the steps described in this subsection if there are no available means under state law to continue making Loan Advances secured by a first lien. The failure or inability of Borrower to extend the First and Second Security Instruments to an additional maximum Principal Balance shall not make the loan due and payable.
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Related to Lien Status Jeopardized

  • Franchise Tax Status Contractor represents and warrants that it is not currently delinquent in the payment of any franchise taxes owed the State of Texas under Chapter 171 of the Texas Tax Code.

  • Status It is duly organised and validly existing under the laws of the jurisdiction of its organisation or incorporation and, if relevant under such laws, in good standing;

  • Tax Status Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.

  • Pay Status An aggrieved employee and the Union Delegate shall be in a pay status during those working hours in which a grievance, a grievance mediation, or an arbitration hearing is held. Release time for additional employee representation shall be subject to approval by the Labor Relations Officer or designee when a group grievance is filed.

  • Grievability Denial of a petition for reinstatement is grievable. The grievance may not be based on information other than that shared with the Employer at the time of the petition for reinstatement.

  • STATUS OF CONTRACTOR 20 CONTRACTOR is, and shall at all times be deemed to be, an independent contractor and shall be 21 wholly responsible for the manner in which it performs the services required of it by the terms of this 22 Agreement. CONTRACTOR is entirely responsible for compensating staff, subcontractors, and 23 consultants employed by CONTRACTOR. This Agreement shall not be construed as creating the 24 relationship of employer and employee, or principal and agent, between COUNTY and CONTRACTOR 25 or any of CONTRACTOR’s employees, agents, consultants, or subcontractors. CONTRACTOR 26 assumes exclusively the responsibility for the acts of its employees, agents, consultants, or 27 subcontractors as they relate to the services to be provided during the course and scope of their 28 employment. CONTRACTOR, its agents, employees, consultants, or subcontractors, shall not be 29 entitled to any rights or privileges of COUNTY employees and shall not be considered in any manner to 30 be COUNTY employees. 31

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