PAYMENT MODIFICATIONS. Lender may approve one deferral of payment for up to three consecutive monthly payments without obtaining prior permission from Registered Holder. Lender shall immediately notify FTA and SBA of any deferral. Any other payment modification must receive prior approval by Registered Holder. Requests for payment modification must be forwarded to FTA which will forward the proposed modification to Registered Holder or provide the name of such Registered Holder to Lender for direct negotiations at Registered ▇▇▇▇▇▇'s discretion. (See Paragraph 2 of the Terms and Conditions.)
Appears in 2 contracts
Sources: Secondary Participation Guaranty Agreement, Secondary Participation Guaranty Agreement