Private Loans Clause Samples

Private Loans. As agreed to by the Bank and the Servicer, in accordance with the guidelines set forth in the applicable Private Loan Program document developed by the Bank. ATTACHMENT 6: Disaster Recovery and Business Continuity Planning A. Disaster Recovery and Business Continuity. The Servicer will be responsible for disaster recovery and business continuity planning, testing, implementation, and execution related to all locations from which services are provided under this Servicing Agreement (including locations of the Servicer’s Subcontractors, “Service Locations”). The Servicer shall provide the services described in subparagraphs (i) through (iv) below without extra charge to the Bank: (i) maintaining and testing the Disaster Recovery/Business Continuity Plan (as defined below); (ii) implementing the Disaster Recovery/Business Continuity Plan in the event of a disaster affecting Service Locations within the specified timeframes; (iii) carrying out disaster recovery, business continuity or redundancy procedures related to the services in accordance with such Disaster Recovery/Business Continuity Plan; and (iv) designing and implementing a Disaster Recovery/Business Continuity plan to minimize disruption to the business of Bank. B. Disaster Recovery/Business Continuity Plan. The Servicer shall maintain a Disaster Recovery/Business Continuity plan (the “Disaster Recovery/Business Continuity Plan”) that covers services that are provided to Bank and each of the proposed Service Locations. The Servicer will provide a target RTO and RPO of 48 hours and 2 hours, respectively, unless a lower minimum is provided in the Disaster Recovery/Business Continuity Plan in respect of any particular application.

Private Loans. A borrower who qualifies pursuant to § 1786.28 (a) may at its option elect to use a private loan to make a prepayment, or a portion of a prepayment, pursuant to this subpart. Private loans, the proceeds of which are used exclusively to prepay FFB loans, shall be eligible for a guarantee under this subpart. The Administrator shall endorse a guarantee on each note evidencing a qualifying private loan. The private loan shall be structured in a manner which in the judgment of RUS shall not result in an increase in loan guarantee risk and shall comply with the following:

Private Loans. Enter the amount of all of the costs that have been paid with funds obtained from private financial institutions, such as banks, savings and loans, and credit unions, and enter the interest rate and amortization period of the loan. If there are multiple loans, enter the interest rate and term of the largest loan. (Do not double count.)

Private Loans. As agreed to by the Bank and the Servicer, in accordance with the guidelines set forth in the applicable Private Loan Program document developed by the Bank.