Lead Lender definition
Examples of Lead Lender in a sentence
All payments on the Subordinated Secured Promissory Note shall be made via automated clearing house transfers of immediately available funds to be initiated by Lender in accordance with the authorization and direction of Borrower to Lead Lender provided in Exhibit B-6 of this Agreement.
Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lenders in connection with the Loans or their interests therein.
If any payment received by Lead Lender and distributed or credited to the Lender is later rescinded or is otherwise required to be returned by Lead Lender to the Borrower for whatever reason (including, without limitation, settlement of an alleged claim), the Lender shall be entitled to retain any payment received.
Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lenders no duty except as specifically set forth in this Agreement, and no lender shall be liable to any other person for the liability of any other lender arising in connection with the Loans or any transaction related to the Loans, except as may be expressly set forth in this Agreement.
The Lead Lender agrees to provide to Lender upon reasonable request, but in no event more frequently than once a month, a statement of all payments received in respect of the Loan.