Mortgage Lender's Excused Nonperformance Sample Clauses

Mortgage Lender's Excused Nonperformance. Notwithstanding anything in this Program Agreement to the contrary, there shall be no termination of, and no liability under, this Program Agreement with respect to the Mortgage Lender for its failure to duly observe or perform any covenant, condition or agreement to be observed or performed by it, if such failure is directly caused by the failure of the Servicer or DCHFA to duly observe or perform in any material respect any covenant, condition or agreement to be observed or performed by either of them.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Mortgage Lender's Excused Nonperformance. Notwithstanding anything in this Origination Agreement to the contrary, there shall be no termination of, and no liability under, this Origination Agreement with respect to the Mortgage Lender for its failure to duly observe or perform any covenant, condition or agreement to be observed or performed by it, if such failure is directly caused by the failure of the Servicer or CDA to duly observe or perform in any material respect any covenant, condition or agreement to be observed or performed by either of them.
Sample 1Sample 2
Mortgage Lender's Excused Nonperformance. Notwithstanding anything in this Progra m Agreement to the contrary, there shall be no termination of, and no liability under, this Progra m Agreement with respect to the Mortgage Lender for its failure to duly observe or perform any covenant, condition or agreement to be observed or performed by it, if such failure is directly caused by the failure of the Servicer or DCHFA to duly observe or perform in any material respect any covenant, condition or agreement to be observed or performed by either of them.
Sample 1
Mortgage Lender's Excused Nonperformance. Notwithstanding anything in this Agreement to the contrary, the Mortgage Lender shall not be terminated or liable under this Agreement as a result of its failure to duly observe or perform in any material respect any covenant, condition or agreement to be observed or performed by the Mortgage Lender, if the failure on the part of the Mortgage Lender is directly caused by the failure of the Agency or the Escrow Agent or a Developer to duly observe or perform in any material respect any covenant, condition, or agreement to be observed or performed by the Agency or the Escrow Agent under this Agreement, or by the Developer under the Developer Commitment Letter.
Sample 1

Related to Mortgage Lender's Excused Nonperformance

  • Lenders’ Failure to Perform All Advances (other than Swing Loans and Agent Advances) shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance (or other extension of credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

  • Failure to Make Letter of Credit Advances The failure of any Lender to make the Letter of Credit Advance to be made by it on the date specified in Section 2.03(c) shall not relieve any other Lender of its obligation hereunder to make its Letter of Credit Advance on such date, but no Lender shall be responsible for the failure of any other Lender to make the Letter of Credit Advance to be made by such other Lender on such date.

  • Failure to Make Required Payments Failure by Maker to pay the principal of this Note within five (5) business days following the date when due.

  • FAILURE TO MAKE OTHER PAYMENTS The failure by the Borrower to pay when due (or upon demand, if payable on demand) any payment Liability other than under the Revolving Credit.

  • Disenfranchisement of Defaulting Lenders (a) For so long as a Defaulting Lender has any Available Commitment, in ascertaining the Majority Lenders or whether any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender’s Commitments will be reduced by the amount of its Available Commitments.

  • Replacement of a Defaulting Lender (a) The Company may, at any time a Lender has become and continues to be a Defaulting Lender, by giving five Business Days’ prior written notice to the Facility Agent and such Lender:

  • Loans; Nonperforming and Classified Assets (a) Except as set forth in HVBC Disclosure Schedule 3.23(a), none of HVBC or any of its Subsidiaries is a party to any written or oral (i) loan, loan agreement, note or borrowing arrangement (including, without limitation, leases, credit enhancements, commitments, guarantees and interest-bearing assets) (collectively, “Loans”), under the terms of which the obligor was, as of June 30, 2022, over sixty (60) days delinquent in payment of principal or interest or in default of any other material provision, or (ii) Loan with any director, executive officer or five percent or greater shareholder of HVBC or any of its Subsidiaries, or to the Knowledge of HVBC, any person, corporation or enterprise controlling, controlled by or under common control with any of the foregoing. HVBC Disclosure Schedule 3.23(a) identifies (x) each Loan that as of June 30, 2022 was classified as “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,” “Criticized,” “Credit Risk Assets,” “Concerned Loans,” “Watch List” or words of similar import by HVBC or any of its Subsidiaries or any bank examiner, together with the principal amount of and accrued and unpaid interest on each such Loan and the identity of the borrower thereunder, and (y) each asset of HVBC that as of June 30, 2022 was classified as other real estate owned (“OREO”) and the book value thereof.

  • Failure to Make Payment In the event a participating Authorized User fails to make payment to the Contractor for Products delivered, accepted and properly invoiced, within thirty calendar days of such delivery and acceptance, the Contractor may, upon five business days advance written notice to both the Commissioner and the Authorized User’s purchasing official, suspend additional shipments of Product or provision of services to such entity until such time as reasonable arrangements have been made and assurances given by such entity for current and future Contract payments.

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