Broker Price definition
Examples of Broker Price in a sentence
Lender neither undertakes nor assumes any responsibility or duty to Borrower or any other party to select, review, inspect, examine, supervise, pass judgment upon or inform Borrower or any third party of (a) the existence, quality, adequacy or suitability of Broker Price Opinions of the Properties or other Collateral, (b) any environmental report, or (c) any other matters or items, including property inspections that are contemplated in the Loan Documents.
Lender neither undertakes nor assumes any responsibility or duty to Borrower or any other party to select, review, inspect, examine, supervise, pass judgment upon or inform Borrower or any third party of (a) the existence, quality, adequacy or suitability of Broker Price Opinions of the Properties or other Collateral, (b) any environmental report, or (c) any other matters or items, including engineering, soils and seismic reports that are contemplated in the Loan Documents.
The Administrative Agent shall cause the Diligence Agent to provide copies of each Broker Price Opinion to the Equity Owner and the Lenders.
Each Party commits to giving a minimum of 21 days’ notice of its intention to withdraw from or terminate this Data Sharing Agreement.
The Administrative Agent shall instruct the Diligence Agent to provide copies of each Broker Price Opinion to the Borrower Representative.
Independent Market Analysis $ 225.000 per IMA Broker Opinion of Value or a Broker Price Option - Undeveloped Properties* $ 500.00 per BOV/BPO Broker Opinion of Value or a Broker Price Option - Developed Properties $ 250.00 per BOV/BPO *”Undeveloped properties” is defined as property that contains no structures.
The Borrower acknowledges that the Lender may retain an amount equal to $100 per Defaulted Mortgage Loan to cover the costs of obtaining Broker Price Opinions.
If the Servicer deems it advisable, the Servicer may order one or more Broker Price Opinions with respect to the REO Property.
In the event that any payment(s) due under any Mortgage Loan remains delinquent and Servicer determines that such payment(s) are unlikely to be collected from the Mortgagor, the Servicer may, if it deems it advisable, order one or more Broker Price Opinions or property inspections with respect to the related Mortgaged Property, and may commence foreclosure proceedings in accordance with Accepted Servicing Practices in the locality where the Mortgaged Property is located.
The portion of the sales price paid by NWS must not exceed the value established by the Broker Price Opinion.