Loan Approval Date definition

Loan Approval Date means the date by which the financial institution to whom application has been made on behalf of the purchaser for a mortgage loan, issues a quotation as referred to in terms of Section 92 of the National Credit Act 34/2005.

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Loan Approval Date means the date stated in Schedule Item 14 by which the Owner must obtain Loan Approval.

Loan Approval Date. Buyer shall promptly furnish all information and shall cooperate with Seller in Seller’s direct communication with Lender. Buyer shall pay any (i) processing fees and expenses, (ii) application fees, (iii) Lender’s attorney fees and (iv) assumption fee imposed by Lender (up to 1% of the unpaid principal balance of the Existing Loan as of the Closing Date (the “Buyer Assumption Fee Cap”) and Seller shall be obligated to pay any amounts in excess of the Buyer Assumption Fee Cap) when due (collectively, the “Assumption Fees”). This obligation to pay the Assumption Fees shall survive closing or termination of this Agreement. Any deposits, reserves, escrows, holdbacks and/or similar amounts held by Lender in connection with the Existing Loan Documents shall be credited back to Seller at Closing and Buyer shall be responsible for replacing at Closing, such amounts as required by Lender. In connection with the Loan Assignment, the parties will endeavor in good faith to fully negotiate a definitive assignment and assumption agreement in a form and substance satisfactory to Buyer and Lender, which shall include, without limitation, the following (collectively, the “Loan Assumption Agreement”):

Examples of Loan Approval Date in a sentence

If Purchaser fails to notify Seller and Escrow Holder of its inability to obtain the Property Loan on or before the Loan Approval Date, Purchaser shall be deemed to have secured the Property Loan.
If BUYER has used reasonable diligence and has not obtained Loan Approval, BUYER shall be refunded all Deposits, provided BUYER, by no later than the Loan Approval Date, provides written notice to SELLER that BUYER has not obtained Loan Approval and has elected to terminate this Agreement.
The consummation of the purchase and sale of the Property (the “Closing”) shall occur ten (10) days after the later of (i) the expiration of the Due Diligence Period and (ii) the Loan Approval Date (as defined in Section 9.1.9 below).
CANCELLATION: If Buyer, after using good faith and reasonable diligence, fails to obtain Loan Approval by Loan Approval Date, Buyer may within ___ days (3 days if left blank) deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract.
Buyer will use good faith and reasonable diligence to (i) obtain Loan Approval within ___ days (45 days if left blank) from Effective Date (Loan Approval Date), (ii) satisfy terms and conditions of the Loan Approval, and (iii) close the loan.
SELLER shall pay to BUYER $ per day for possession beyond (Rent Commencement 1 Loan Approval Date is generally thirty (30) days from the contract acceptance date 2 Funds and Documents Date is generally three (3) business days prior to Title Transfer Date 3 Title Transfer Date is an agreed date taking into account length of time needed for financing Date),4 for a maximum of days, after which SELLER shall vacate the premises, unless a longer period is agreed to in writing by the BUYER.
If BUYER has not terminated this Agreement by the Loan Approval Date as provided herein, BUYER will be deemed to have received Loan Approval and this contingency shall be waived.
If ▇▇▇▇▇ does not deliver written notice to Seller by Loan Approval Date stating Buyer has either obtained Loan Approval or waived this financing con- tingency, then either party may cancel this Contract by delivering written notice (“Cancellation Notice”) to the other, not later than seven (7) days prior to Closing.
This loan approval contingency shall be satisfied or waived in writing by ▇▇▇▇▇ on or before March 14, 1997 ("Loan Approval Date").
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More Definitions of Loan Approval Date

Loan Approval Date means the date stated in Schedule Item 13 by which the Owner must provide the Contractor with written evidence in accordance with Condition 6.1.

Loan Approval Date shall have the meaning given to such term in Section 24(c) hereof.

Loan Approval Date means the date on which Lender shall have unconditionally consented to the assignment and assumption of the Loan to Buyer and shall have executed and delivered to Escrow Holder the Assignment, Assumption and Consent Agreement. 1.31 "Loan Assumption Fee" means the sum of Forty One Thousand One Hundred Twenty and no/100 Dollars ($41,120.00) to be paid to Lender, through Escrow Holder, subject to the terms and conditions provided herein.

Loan Approval Date means the date when the respective retail loan or housing loan agreement becomes effective;