Loan settlement definition

Loan settlement means the occurrence of all of the fol- lowing:

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Loan settlement means any settlement or compromise with borrowers, lenders, investors, business partners, joint ventures, brokers, and any other Person with an interest in, or in the proceeds of, a Loan Asset, including, without limitation, the arrangement of short sales, payments for borrower cooperation, institution and prosecution of legal actions, forgiveness of debt and conveyance of direct or indirect interests in real property, including, without limitation, the release of collateral, borrowers, guarantors, and/or sponsors, as well as the sale of such Loan Asset to a party or parties related to such borrowers, guarantors, and/or sponsors.

Loan settlement has the meaning set forth in the preamble;

Examples of Loan settlement in a sentence

• The Borrower Representative shall (i) promptly notify Administrative Agent upon the establishment of the Core Asset Closing Date to the extent a date certain is not specified in the applicable Purchase Agreement, (ii) provide Administrative Agent with drafts of acquisition and Senior Mortgage Loan settlement statements, as such drafts become available and (iii) submit a final Funding Request once such settlement statements are finalized.

• All proceeds after payment of expenses, or set-aside of reserves therefor received with respect to any Foreclosure Loans, whether through a work-out of such Foreclosure Loan, settlement, collection of a judgment, net proceeds of operation or sale of any property received by the Company in a foreclosure proceeding or otherwise.

More Definitions of Loan settlement

Loan settlement means the occurrence of all of the following:

Loan settlement. The closing and funding of a loan by Liberty Bank. Liberty Bank’s Compensation Options: