Competing Lender definition
Examples of Competing Lender in a sentence
Upon receipt of such list, Marblehead shall use best efforts to transition the Transition Schools to a Competing Lender on or before April 1, 2006.
In the event that Marblehead is not able to identify a Competing Lender for any of the Transition Schools on or before April 1, 2006 notwithstanding its best efforts to do so, any such Transition School shall remain a Participating Institution under the applicable Umbrella Agreement until such time, if any, as Marblehead shall identify a Competing Lender therefor.
NCT and Marblehead shall, in any event, request the Program Lender to originate GATE Conforming Loans at educational institutions located in the Program Lender Exclusive States prior to making such a request of any Competing Lender.
In the event that Marblehead is able to identify a Competing Lender for any such Transition Schools, the parties shall cooperate in providing for an orderly transition of such Transition Schools from Program Lender to such Competing Lender pursuant to agreements reasonably satisfactory to the parties.
The purpose of this amendment is to reflect the fact that the Competing Lender originally named in this clause (The First National Bank of Boston) has changed corporate identity and continues to change corporate identity, but will, in any event remain an affiliate of the newly merged holding company named in this amendment.
Neither NCT nor Marblehead will enter into any agreement with any other financial institution or other regulated or nonregulated lender (a "Competing Lender") to conduct a program for the origination and funding of GATE Universal Conforming Loans that would be a "Lender Competing Program" (as defined below) if conducted by Program Lender, with respect to any Participating Institution located in any of the ▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, the District of Columbia, and the territories of the United States.