Loan Payoff definition
Examples of Loan Payoff in a sentence
Notwithstanding the foregoing to the contrary, Seller shall have the option, by delivering written notice to Purchaser, to extend the Closing Date to the last Business Day of the month in which the Closing Date otherwise would occur pursuant to the preceding sentence, or to such other date (either in the same month or the next) as Seller reasonably determines is desirable in connection with the Loan Payoff.
Notwithstanding the foregoing to the contrary, Seller shall have the option, by delivering written notice to Purchaser, to extend the Closing Date to the last Business Day of the month in which the Closing Date otherwise would occur pursuant to the preceding sentence, in connection with Seller's payment in full of the Note (the "Loan Payoff").
Once you have a full understanding of all the paperwork distributed, you may sign the following documents within the designated areas to complete the process: Bill of Sale Certificate of Title Closing Statement Deed Mortgage Note (or Loan Payoff) Tax Disclosure Receiving the Net Proceeds of the Sale – Congratulations! You may now collect your money from the title/escrow company.
Until the occurrence of the Loan Payoff Date, the Administrative Agent shall be entitled to provide any directions, consents or instructions hereunder on behalf of the Controlling Parties, and the Collateral Agent is hereby authorized to accept any such direction, consent or instruction from the Administrative Agent on the Controlling Parties behalf.
Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document or any other document furnished in connection herewith or therewith in accordance with a request of the Majority Lenders or the Controlling Parties (or, prior to the occurrence of the Loan Payoff Date, the Administrative Agent), as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Notwithstanding any contrary provisions of this Agreement, Lender expressly acknowledges that (i) except for Prudential's obligation under this Agreement to make payment to Lender of the Loan Pay-off Capital Contribution pursuant to Section 2(a) above, Prudential does not have any personal liability under the Note.
NL Companies shall be permitted to receive payment of the Loan Pay-off Capital Contribution from Prudential pursuant to and in accordance with the Multi-Party Agreement.
The Administrative Agent shall give prompt written notice to the Collateral Agent of the occurrence of the Loan Payoff Date.
Further, notwithstanding the foregoing to the contrary, Seller shall have the option, by delivering written notice to Purchaser, to extend the Closing Date to the last Business Day of the month in which the Closing Date otherwise would occur pursuant to the preceding sentence, or to such other date (either in the same month or the next) as Seller reasonably determines is desirable in connection with the Loan Payoff.
The Subordinated Noteholders agree, for the benefit of all Lenders, not to cause the filing of a petition in bankruptcy against the Borrower for failure to pay to them amounts due hereunder or otherwise in respect of the Subordinated Notes until the Loan Payoff Date, and not before one year and one day have elapsed since such payment or, if longer, the applicable preference period then in effect in accordance with the Bankruptcy Code plus one day.