Foreclosure Judgment definition
Examples of Foreclosure Judgment in a sentence
Buyer expressly acknowledges and agrees that Seller has no obligation with respect to the Loan or the Foreclosure Judgment (if any) which survives Closing, except as specifically set forth in this Agreement.
Seller Party shall use reasonable efforts to inform Buyer of material events which occur with respect to the Loan or the Foreclosure Judgment (if any) after the Effective Date.
Buyer has not communicated with any Borrower Party in connection with the Loan or the Foreclosure Judgment (if any).
In no event shall Buyer be deemed a third party beneficiary of any servicing contract or agreement between Seller and any Seller Party, and in no event shall Seller Party be deemed a fiduciary for the benefit of Buyer with respect to the Loan or the Foreclosure Judgment (if any).
The Parties shall be legally bound with respect to the purchase and sale of the Loan and the Foreclosure Judgment (if any) pursuant to the terms of this Agreement only if and when the Parties have fully executed and delivered to each other a counterpart of this Agreement.
In the event that the Foreclosure Action or the Receivership Action is pending and a foreclosure sale is not held with respect to the Foreclosure Action prior to the Closing Date, Seller shall assign its rights with respect to the Foreclosure Action and Receivership Action, as applicable, and any Foreclosure Judgment to Buyer at Closing unless prohibited by Legal Requirements.
Buyer shall not accept a release of liability from any Borrower Party or grant a release of liability to any Borrower Party with respect to the Loan or the Foreclosure Judgment (if any), unless Buyer shall have used commercially reasonable efforts to obtain the simultaneous release of Seller and Seller Party from all Claims which Borrower Party could have against Seller and/or Seller Party with respect to the Loan and the Foreclosure Judgment (if any) prior to the date of such release.
After Closing, except for those representations and warranties that survive the Closing by the terms of this Agreement, no Seller Party shall have any liability, responsibility or obligation to any Buyer Party with respect to this Agreement, the Loan, the Loan Documents or the Foreclosure Judgment (if any).
The submission of a draft, or a marked up draft, of this Agreement by one Party to another is not intended by either Party to be an offer to enter into a legally binding agreement with respect to the purchase and sale of the Loan and the Foreclosure Judgment (if any).
Buyer shall be bound by all actions taken by Seller Party with respect to the Loan and the Foreclosure Judgment (if any) prior to the Closing Date.