Loan Modification Agreement Sample Clauses
POPULAR SAMPLE Copied 5 times
Loan Modification Agreement. The Borrower and each Accepting Lender shall execute and deliver to the Agent a Loan Modification Agreement and such other documentation as the Agent shall reasonably specify to evidence the acceptance of the Permitted Amendments and the terms and conditions thereof, which Loan Modification Agreement shall be acceptable to the Agent, the Borrower and each Accepting Lender. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification Agreement. Each of the parties hereto hereby agrees that, upon the effectiveness of any Loan Modification Agreement, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Permitted Amendment evidenced thereby and only with respect to the Loans and Commitments of the Accepting Lenders, including any amendments necessary to treat the applicable Loans and/or Commitments of the Accepting Lenders as a new Tranche hereunder.
Loan Modification Agreement. Concurrently herewith, the Panache Parties and Consilium have executed and delivered that certain loan modification agreement, attached hereto as Exhibit B (the “Loan Modification Agreement”), which modifies the terms of the Loan Agreement as set forth therein.
Loan Modification Agreement. As consideration for resolving the Individual Claims, ▇▇▇▇▇▇▇ Funding and Plaintiff have agreed to enter into a Loan Modification Agreement (the “Loan Modification Agreement”), the anticipated terms of which are captured in the document attached hereto as Exhibit A. The Loan Modification Agreement will be effective as of the Final Approval Date and will only be effective if and when the Final Approval Date occurs. The document attached as Exhibit A presumes that the Final Approval Date will occur on or before September 1, 2021 (the “Presumed Approval Date”). In the event the Final Approval Date does not occur by the Presumed Approval Date for any reason, including an appeal, the initial payment date under the Loan Modification Agreement will be extended, month by month, until the Final Approval Date occurs, and a new Loan Modification Agreement with an updated initial payment date will be generated for Plaintiff’s signature. Further, if the Final Approval Date does not occur on or before the Presumed Approval Date, ▇▇▇▇▇▇▇ Funding shall have the right to modify the terms of the Loan Modification Agreement from those captured in Exhibit A to account for additional accrued interest, escrow advances, or other charges applied to Plaintiff’s loan in accordance with the Loan Documents, as that term is defined by the Loan Modification Agreement. Additionally, notwithstanding that the Loan Modification Agreement authorizes ▇▇▇▇▇▇▇ Funding to establish an escrow account associated with Plaintiff’s mortgage loan, in the event the Final Approval Date does not occur on or before January 1, 2022, Plaintiff agrees that he will pay any and all property taxes due for the Property directly to the ▇▇▇▇▇▇ County Tax Assessor-Collector’s Office on or before January 31, 2022. Plaintiff also agrees to keep the Property insured at all times. In the event Plaintiff fails to pay property taxes as specified herein or in the event Plaintiff fails to keep the Property insured at all times, Plaintiff shall be in breach of this Agreement, and ▇▇▇▇▇▇▇ Funding shall have no obligation to enter into the Loan Modification Agreement regardless of whether the terms of this Agreement are ultimately approved by the Court. Absent a breach of the foregoing obligation, once the Final Approval Date occurs, Plaintiff will remain in good standing so long as he complies with the Loan Modification Agreement and the Loan, as modified. Further, Plaintiff’s obligation to comply with this Agreement is not...
Loan Modification Agreement. The Company and its secured lender shall have entered into a loan modification agreement on terms acceptable to the Placement Agent.
Loan Modification Agreement. The terms of this Paragraph apply not only to this Loan Modification Agreement, but also to all subsequent loan modification agreements.
Loan Modification Agreement. See §2.11(b). Loan Modification Offer. See §2.11(a). Loan(s). The Term Loans or any portion thereof, as the context may require.
Loan Modification Agreement. A Loan Modification Agreement in form and substance reasonably satisfactory to the Agent, the Borrower and the applicable Accepting Lenders, among the Borrower, the other Loan Parties, such Accepting Lenders and the Agent. Loan Modification Offer. See §2.14(a).