Notification to Borrower Clause Samples
The 'Notification to Borrower' clause requires the lender or another party to formally inform the borrower about specific events, actions, or changes related to the loan agreement. This notification may pertain to matters such as payment due dates, changes in interest rates, breaches of contract, or other significant developments. By mandating timely and clear communication, the clause ensures that the borrower is kept aware of important information, thereby reducing misunderstandings and helping both parties fulfill their obligations under the agreement.
Notification to Borrower. If Clause 10.3 (Cost of funds) applies, the Agent shall, as soon as is practicable, notify the Borrower.
Notification to Borrower. Licensee acknowledges that it may be required to provide certain disclosures to Customers such as when the Licensee denies or unfavorably changes the terms requested in the Mortgage Loan Application or determines that a prospective mortgage loan applicant would not qualify for a loan or for a particular loan amount as a result of a Prequalification Analysis. Such disclosure obligations may be imposed under the FCRA, ECOA, and other federal and state laws and regulations. Licensee agrees that it bears sole responsibility for complying with such disclosure obligations and that such obligations are in no event to be considered imposed upon or shared by ▇▇▇▇▇▇ ▇▇▇.
Notification to Borrower. Licensee acknowledges and understands that it may be required to provide certain disclosures to mortgage loan borrowers. Such disclosure obligations may be imposed under the FCRA, ECOA, and other federal and/or state statutes and regulations. Licensee expressly understands and agrees that it bears sole responsibility for complying with such disclosure obligations and that such obligations shall in no event be considered imposed upon or shared by ▇▇▇▇▇▇ ▇▇▇ by virtue of Licensee's use of the Licensed Application.
Notification to Borrower. Licensee expressly understands and agrees that it bears sole responsibility for any disclosure and other obligations arising under federal and/or state statutes and regulations relating to Mortgage Loan Applications and that such obligations shall in no event be considered imposed upon or shared by ▇▇▇▇▇▇ ▇▇▇ by virtue of Licensee's use of the Licensed Application.
Notification to Borrower. Licensee acknowledges that it may be required to provide certain disclosures to Customers such as when it determines that a Customer does not qualify for a loss mitigation workout. Such disclosure obligations may be imposed under the FCRA, ECOA, the Homeowners Protection Act and other federal and state laws and regulations. Licensee agrees that it bears sole responsibility for complying with such disclosure obligations and that such obligations in no event should be considered imposed upon or shared by ▇▇▇▇▇▇ ▇▇▇.
Notification to Borrower. Licensee acknowledges and understands that it may be required to provide certain disclosures to mortgage loan applicants and/or prospective mortgage loan applicants such as when the Licensee denies or unfavorably changes the terms requested in the Mortgage Loan Application or determines that a prospective mortgage loan applicant would not qualify for a mortgage loan or for a particular mortgage loan amount as a result of a Prequalification Analysis. Such disclosure obligations may be imposed under the FCRA, ECOA, and other federal and/or state statutes and regulations. Licensee expressly understands and agrees that it bears sole responsibility for complying with such disclosure obligations and that such obligations shall in no event be considered imposed upon or shared by ▇▇▇▇▇▇ ▇▇▇ by virtue of Licensee's use of the Licensed Application.
Notification to Borrower. If this Clause 11 (Changes to the calculation of interest) applies, the Lead Bank shall, as soon as is practicable (and in no event later than one Business Day after the occurrence thereof), notify the Borrower.
Notification to Borrower. If Clause 10.3 (Cost of funds) applies, the Lender shall, as soon as is practicable, notify the Borrower.
Notification to Borrower. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify the Borrower (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. Each Lender will furnish the Borrower with a certificate (with a copy to the Administrative Agent) setting forth the basis of the claim and the additional amounts due, and such certificate shall be conclusive, provided that the determination of such amounts as set forth on such certificate is made on a reasonable basis. No Lender shall be entitled to compensation under this subsection for any costs incurred more than six months prior to the date such Lender delivers such certificate to the Borrower requesting compensation. The agreements in this subsection shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.