Effective Foreclosure Date definition

Effective Foreclosure Date means the date which is twenty (20) days from the date notice given to all persons entitled to notice under Section 9-621 of the UCC.
Sample 1

Examples of Effective Foreclosure Date in a sentence

  • In the event that, prior to the Effective Foreclosure Date, any recipient of a Notification objects to the proposal set forth in the Notification, Lender may proceed with a foreclosure sale of the Gainesville Collateral upon any notice required by the UCC, and shall retain the right to bid at any foreclosure sale and/or to retain any proceeds of any such sale up to the amount of the Secured Obligations.

  • Conditioned upon Borrower’s compliance with all of the terms of this Agreement, and upon the Effective Foreclosure Date, Lender agrees to accept the Gainesville Collateral in full satisfaction of the Secured Obligations and Lender thereupon waives any right to (i) a deficiency claim against Borrower upon disposition of the Gainesville Collateral, (ii) convert the Debentures, and (iii) exercise the Warrants.

  • Commencing on the Effective Foreclosure Date, Borrower authorizes Lender to maintain the location of all or any portion of the Gainesville Collateral located on premises occupied, leased by, or controlled by Borrower where such Gainesville Collateral may now or hereafter be situated, or such other location selected by Lender, and to conduct a sale or sales of the Gainesville Collateral from any such premises.

  • If sought by Lender at any time after the Effective Foreclosure Date, Borrower hereby consents to and accepts the issuance, levy and perfection of a writ of possession with respect to the Gainesville Collateral in favor of Lender.

  • Borrower further agrees that commencing on the Effective Foreclosure Date it shall not show the Collateral to any Interested Parties for any purpose.

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  • Commencing on the Effective Foreclosure Date, Borrower authorizes Lender to take dominion and control of all documents and materials relating to the ownership, use and operation of the Gainesville Collateral (to the extent that such materials are not included as Collateral), wherever located.

  • This proposal is based largely on existing DCM and industry practices, including industry guidance and best practices followed by regulated entities and market participants.

  • If Lender makes the election provided for in clause (i) above, and if the foreclosure sale is not completed within thirty (30) days after the Effective Foreclosure Date, this Agreement including, without limitation, each and every one of Borrower’s acknowledgements set forth in Section 2 above, shall be null, void and of no further effect.

  • From and after the date of this Agreement until any abandonment described in 3.4 above, Lender, shall have the right (which shall become exclusive as of the Effective Foreclosure Date but shall terminate upon any abandonment) to show the Collateral to Interested Parties.

Related to Effective Foreclosure Date

  • Annuity Commencement Date means the first day of any month upon which an annuity begins under the Contract. However, for any Participant, this date shall not be later than the required beginning date as defined in the applicable sections of the Code and Regulations issued thereunder.

  • Commencement of Foreclosure The first official action required under local law in order to commence foreclosure proceedings or to schedule a trustee's sale under a deed of trust, including (i) in the case of a mortgage, any filing or service of process necessary to commence an action to foreclose, or (ii) in the case of a deed of trust, posting, the publishing, filing or delivery of a notice of sale, but not including in either case (x) any notice of default, notice of intent to foreclose or sell or any other action prerequisite to the actions specified in (i) or (ii) above, (y) the acceptance of a deed-in-lieu of foreclosure (whether in connection with a sale of the related property or otherwise) or (z) initiation and completion of a short pay-off.

  • Applicable Anniversary of the Commencement Date means the fifth (5th) anniversary of the Commencement Date.

  • Cure Date means the MuniPreferred Basic Maintenance Cure Date or the 1940 Act Cure Date, as the case may be.

  • Loan Commencement Date means, with respect to each Loan, the first Business Day of the calendar month following the Funding Date of such Loan.

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);

  • Construction Commencement Date means the date set out in the Addendum, if applicable, by which you must commence construction of the Hotel. For the Hotel to be considered under construction, youmust have begun to pour concrete foundations for the Hotel or otherwise satisfied any site-specific criteria for “under construction” set out in the Addendum.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • Offering Commencement Date means the first day of each Offering Period.

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is thirty (30) calendar days following such Business Day.

  • Qualified Project Period means Qualified Project Period as defined in Section 142(d) of the Internal Revenue Code.

  • Service Commencement Date means the date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Tariff, Part II, section 15.3 or Tariff, Part III, section 29.1.

  • Offer Commencement Date means the date on which Purchaser commences the Offer, within the meaning of Rule 14d-2 under the Exchange Act.

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Date of commencement of the project means the date of the agreement.

  • CONTRACT ANNIVERSARY The anniversary of the Contract Date.

  • Allowance transfer deadline means midnight of January 30 or, if January 30 is not a business day, midnight of the first business day thereafter and is the deadline by which allowances may be submitted for recordation in an affected unit’s compliance subaccount for the purposes of meeting the unit’s acid rain emissions limitation requirements for sulfur dioxide for the previous calendar year.

  • Initial Transfer Date means the Series Issuance Date for the first Series of Transition Bonds.

  • Term Commencement Date shall be the later of (i) November 1, 2006 or (ii) the date on which Landlord’s Work is Substantially Complete (or the date on which Landlord’s Work would have been Substantially Complete absent Tenant Delay or Force Majeure (as defined below)); provided, however, that if the Term Commencement Date is not the first day of a calendar month, then the first lease year shall be extended through the last day of the calendar month in which the first 12-month period expires, and Rent for the additional period at the end of the first lease year shall be payable at the rate for the 12th month of the Term. “Force Majeure” means accident; breakage; repair; governmental regulation, moratorium or other governmental action. The “Term Expiration Date” shall be the day immediately preceding the seventh (7th) anniversary of the Term Commencement Date, provided that if such preceding day is not the last day of a calendar month, then the Term Expiration Date shall be the last date of the calendar month in which such preceding day occurs. Landlord and Tenant shall each execute and deliver to the other written acknowledgment of the actual Term Commencement Date and the Term Expiration Date when such are established, and shall attach it to this Lease as Exhibit B. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.

  • Lease Termination Date means the last day of the Lease Term.

  • Final Completion Date means the date on which Final Completion occurs.

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;