Loan Participation Program definition

Loan Participation Program refers to the Loan Participation Program(s) administered at Commerce and as outlined in Exhibit B, which is attached hereto and specifically incorporated herein by this reference.
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Examples of Loan Participation Program in a sentence

  • If the Lender wishes to sell a portion of its retained portion of the Participation Loan, the Lender must get prior written approval from Commerce and retain up to ten percent (10.00%) of the original loan amount in accordance with the Loan Participation Program.

  • The Lender agrees to provide Commerce with any information Commerce or a representative of the State of Montana deems necessary to ensure compliance with the Loan Participation Program and state law.

  • All rights and authority given to Commerce under this Agreement are irrevocable so long as Commerce owns any Participation in any Participation Loan of a Loan Participation Program.

  • The Lender shall process and finalize the loan in accordance with the approved terms, ensuring compliance with Loan Participation Program requirements and mutually agreed-upon conditions.

  • Commerce’s role in disbursement is limited to providing its portion of funding to the Lender, who will ensure proper administration and compliance with the Commitment Letter, respective Loan Agreement, applicable Loan Participation Program Guidance and rules, and this Agreement.

  • Upon approval by Commerce of an application submitted in accordance with the Loan Participation Program, Commerce shall issue a Commitment Letter to the Lender and the Borrower setting forth the terms and conditions under which it will participate in a loan.

  • Commerce may engage in discussions with the Borrower during the application phase to assess eligibility, Loan Participation Program alignment, and potential structuring considerations.