Credit Files definition

Credit Files. As defined in Section 5 herein.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Credit Files shall have the meaning set forth in Section 4.2 hereof.

Credit Files means all of the following: surveys, original appraisals, payment histories for at least the prior two calendar years, primary mortgage guarantee insurance certificates (if required for the applicable Residential Mortgage or Nonresidential Mortgage), signed loan applications, disclosure statements, credit records (if available), and hazard, flood and any other policies of insurance.

Examples of Credit Files in a sentence

• The Receiver shall pay the Assuming Institution not later than the twentieth (20th) Business Day following receipt of related Credit Documents and Credit Files together with interest on such amount at the Settlement Interest Rate for the period from and including the date of receipt of such documents to and including the day preceding the day on which payment is made.

• Copies of books, records and Credit Files shall be provided by the Assuming Institution as requested by the Receiver and the costs of duplication thereof shall be borne by the Receiver.

• As provided in Section 9.6, the Assuming Institution shall deliver to the Receiver such documents, Credit Files and such additional information relating to the subject matter of the Put Notice as the Receiver may request and shall provide to the Receiver full access to all other relevant books and records.

• As provided in Section 9.6, the Assuming Bank shall deliver to the Receiver such documents, Credit Files and such additional information relating to the subject matter of the Put Notice as the Receiver may request and shall provide to the Receiver full access to all other relevant books and records.

• Copies of books, records and Credit Files shall be provided by the Assuming Bank as requested by the Receiver and the costs of duplication thereof shall be borne by the Receiver.

• The Receiver shall pay the Assuming Bank not later than the twentieth (20th) Business Day following receipt of related Credit Documents and Credit Files together with interest on such amount at the Settlement Interest Rate for the period from and including the date of receipt of such documents to and including the day preceding the day on which payment is made.

• Copies of books, Records and Credit Files shall be provided by the Assuming Institution as requested by the Receiver and the costs of duplication thereof shall be borne by the Receiver.

• In addition to its obligations under Section 6.4, the Assuming Institution shall provide representatives of the Receiver access at reasonable times and locations without other limitation or qualification to (i) its directors, officers, employees and agents and those of the Acquired Subsidiaries, and (ii) its books and Records, the books and Records of such Acquired Subsidiaries and all Credit Files, and copies thereof.

• As provided in Section 9.6, the Assuming Institution shall deliver to the Receiver such documents, Credit Files and such additional information relating to the subject matter of the Put Notice as the Receiver may request and shall provide to the Receiver full access to all other relevant books and Records.

• The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.

More Definitions of Credit Files

Credit Files means all documents in the possession of Seller pertaining to the Loan Assets, which files shall include original documents (or copies thereof if for any reason originals are not readily available), and may also include general credit information, credit records from Seller, payment histories, appraisals, and property insurance policies, but shall exclude Seller's internal memoranda, internal approvals, communications with Seller's participants, communications and documentation from the Obligors with respect to the Obligors' other credit relationships with Seller, documentation from other financial institutions with respect to any of the Obligors' loans from such other financial institutions, communications with other potential purchasers of the Loan Assets, and privileged, confidential or other communications between Seller and its legal counsel and any other internal and/or confidential documents relating to Seller's review, analysis, reporting, valuation or classification of the Loan Assets as may be determined by Seller.