LOAN APPROVAL PERIOD definition

LOAN APPROVAL PERIOD. (1) Buyer obtaining approval of a conventional FHA VA or other 105 (describe) loan within (if left blank, then 30) days after Effective Date (“Loan Approval 106 Period”) mortgage loan for the purchase of the Property for a (CHECK ONE): fixed, adjustable, fixed or 107 adjustable rate in the Loan Amount (See Paragraph 2(c)), at an initial interest rate not to exceed % (if left 108 blank, then prevailing rate based upon Buyer’s creditworthiness), and for a term of (if left blank, then 30) 109 years (“Financing”); and (2) Buyer’s mortgage broker or lender having received an appraisal or alternative valuation 110 of the Property satisfactory to lender, if either is required by lender, prior to Closing, which is sufficient to meet the 111 terms required for lender to issue provide Financing for Buyer and proceed to Closing (“Appraisal”). 112 (i) Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days 113 after Effective Date and use good faith and diligent effort to obtain approval of a loan meeting the Financing and 114 Appraisal terms of Paragraph 8 .(b)(1) and (2), above, (“Loan Approval”) andwithin the Loan Approval Period and, 115 thereafter, to close this Contract. Loan Approval which requires a condition related to the sale by Buyer of to sell 116 other real property shall not be deemed considered Loan Approval for purposes of this subparagraph unless Rider 117 V is attached. 118 Buyer’s failure to use good faith and diligent effort to obtain Loan Approval during the Loan Approval Period shall 119 be considered a default under the terms of this Contract. For purposes of this provision, “diligent effort” includes, 120 but is not limited to, timely furnishing all documents and information and paying of all fees and charges requested 121 required by Buyer’s mortgage broker and lender and paying for Appraisal and other fees and charges in connection 122 with Buyer’s mortgage loan application for Financing. 123 (ii) Buyer shall, upon written request, keep Seller and Broker fully informed about the status of Buyer’s 124 mortgage loan application, Loan Approval, and loan processing, and appraisal, and Loan Approval, including any 125 Property related conditions of Loan Approval. Buyer authorizes Buyer’s mortgage broker, lender, and Closing Agent 126 to disclose such status and progress, and release preliminary and finally executed closing disclosures and 000 xxxxxxxxxx xxxxxxxxxx, as appropriate and allowed, to Seller and...
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LOAN APPROVAL PERIOD. Unless If the mortgage loan is not approved within days (3045 days if left blank) after date of acceptance of this Agreement, without contingencies other than lender- required repairs/replacements/treatments, marketable title and survey, hereinafter called the Loan Approval Period, BUYER may shall have 5 days thereafter to terminate this Agreement by written notice to the SELLER during within the Loan Approval Period, or be deemed to have waived the financing contingency. If BUYER does not terminate this Agreement prior to the end of the Loan Approval Period, within said 5 day period neither BUYER nor SELLER shall have a right to terminate this Agreement under this paragraph, and the binder deposit shall not be refundable because 108 of BUYER’s failure to obtain financing, and this Agreement shall continue through the date of closing. 109 [CM12] 110 143. MAINTENANCE, INSPECTION AND REPAIR: SELLER will maintain the Property in its present condition 111 until closing, except for normal wear and tear and any agreed upon repairs/replacements/treatments. If 112 BUYER elects not to have inspections and investigations performed, or fails to make a timely request for 113 repairs/replacements/treatments as set forth in this paragraph 314, BUYER accepts the Property in its 114 “AS IS” condition as of the date of acceptance of this Agreement. BUYER will be responsible for repair 115 of all damages to the Property resulting from inspections and investigations, and BUYER will return the 116 Property to its pre-inspection condition. These obligations shall survive termination of this Agreement.
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LOAN APPROVAL PERIOD. If the mortgage loan is not approved within days (30 days if left 97 blank) after date of acceptance of this Agreement, without contingencies other than lender-required 98 repairs/replacements/treatments, marketable title and survey, hereinafter called the Loan Approval
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Examples of LOAN APPROVAL PERIOD in a sentence

  • The Closing shall occur on [ACTUAL DATE WHICH IS 15 DAYS AFTER THE DATE THAT THE LOAN APPROVAL PERIOD EXPIRES TO BE INSERTED UPON EXECUTION OF CONTRACT] (the "Closing Date") through an escrow with Escrow Agent, whereby Seller, Purchaser and their attorneys need not be physically present at the Closing and may deliver documents by overnight air courier or other means.

  • PRIOR EDITIONS OF THE FR/BAR CONTRACT DID NOT REQUIRE AN APPRAISAL TO BE OBTAINED PRIOR TO THE END OF THE LOAN APPROVAL PERIOD.


More Definitions of LOAN APPROVAL PERIOD

LOAN APPROVAL PERIOD. If the mortgage loan is not approved within 25 days (30 days if left 97 blank) after date of acceptance of this Agreement, without contingencies other than lender-required 98 repairs/replacements/treatments, marketable title and survey, hereinafter called the Loan Approval
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Related to LOAN APPROVAL PERIOD

  • Application Approval Date means the date that the Application is approved by the Board of Trustees of the District and as further identified in Section 2.3.B of this Agreement.

  • Non-Approval Event means, in respect of the Benchmark:

  • Approval Date means the date on which the Plan is approved by the Company’s stockholders.

  • HSR Approval means expiration of all applicable waiting periods under the HSR Act (including any voluntary agreed extensions) or earlier termination thereof.

  • Approval Notice means, with respect to any Eligible Loan Asset, the written notice, in substantially the form attached hereto as Exhibit A, evidencing the approval by the Agent, in its sole discretion, of the conveyance of such Eligible Loan Asset by the Transferor to the Equityholder pursuant to the terms of the First Tier Purchase and Sale Agreement and by the Equityholder to the Borrower pursuant to the terms of the Second Tier Purchase and Sale Agreement and the Assignments by which the Transferor effects such conveyance.

  • Final Approval Date means the date on which the Court enters the Final Order and Judgment.

  • Outside Completion Date shall have the meaning assigned to such term in Section 6.3(d).

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Preliminary Approval Date means the date the Preliminary Approval Order has been executed and entered by the Court.

  • Term Start Date has the meaning set forth in Section 1.01.

  • Study Period means the period commencing at 9:00 a.m. on the date hereof, and continuing through 5:00 p.m. on the Closing Date.

  • Inspection Period means the period beginning on the Effective Date and expiring at 5:00 p.m. eastern time on the forty-fifth day after the Effective Date.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Approval Letter means the letter from WRAS to the Applicant confirming the grant of WRAS Approval in respect of a Product;

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • Consent Period has the meaning set forth in Section 3.05(d)(ii).

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Second Draw Period is the period commencing on December 1, 2015 and ending on the earlier of (i) January 31, 2016 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on December 1, 2015, an Event of Default has occurred and is continuing.

  • Resolution Extension Period As defined in Section 2.03(b).

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Initial approval means authorization to admit students and enter into contractual agreements for clinical facilities. It is granted only after an application has been submitted, reviewed and a survey visit made by the Board. No students shall be admitted to the program until the institution has received written notification that initial approval has been granted. Failure to comply will delay initial approval.

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

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

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

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).