Accepted Loan definition
Examples of Accepted Loan in a sentence
Subject to the below provisions of this Section 2, the Program Agreement and the Master Venture Agreement, the Servicer shall have authority to act on behalf of the Lender and the Holders with respect to the Loan, to transact with the Borrower and to grant or withhold consents or approvals under the Loan Documents, enforce the Loan Documents and otherwise act on behalf of the Lender and the Holders, all in accordance with Accepted Loan Servicing Practices.
Ashford accepts and agrees to perform its duties and undertake its responsibilities set forth in this Agreement and to exercise all commercially reasonable efforts to cause the business of the Company to be operated and managed in accordance with the policies and procedures established by the Program Representatives, Accepted Loan Servicing Practices, where applicable, and the terms of this Agreement.
Seller is in possession of a materially complete file with respect to each Accepted Loan and Additional Accepted Loan containing all of the requisite material documents and instruments.
The Servicer shall service and administer the Loan, as agent for the Holders, in accordance with the express terms of this Agreement and Accepted Loan Servicing Practices, taking into account the interests of the Holders with a view to maximizing the realization for all Holders as a collective whole.
The Lender shall service each Accepted Loan and shall proceed to recover against the Borrower and all collateral securing an Accepted Loan in the event of a default by the Borrower in accordance with its standard policies and procedures, and in accordance with the standard of loan servicing employed by the Lender for its commercial loan portfolio generally.
Seller will deliver to Buyer originals of all loan documents, loan files and related materials, including, but not limited to, correspondence and memoranda, contained in Seller’s files with respect to each Accepted Loan and Additional Accepted Loan, including, without limitation, all original promissory notes or other evidence of indebtedness for each Accepted Loan or Additional Accepted Loan properly endorsed by Seller to the order of Buyer.
The information with respect to the Accepted Loans, Additional Accepted Loans and Deposits provided to Buyer on the date of this Agreement and in connection with the Closing Date and Settlement Date is true and correct as of the dates indicated on the information, and none of the Loans contained in the information are Excluded Loans (unless such Excluded Loan is included as an Additional Accepted Loan on Exhibit D).