Examples of SBC Loans in a sentence
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Each Borrower shall, to the extent practicable, maintain and implement administrative and operating procedures (including, without limitation, an ability to recreate records evidencing the SBC Loans in the event of the destruction of the originals thereof), and keep and maintain or obtain, as and when required, all documents, books, records and other information reasonably necessary or advisable for the collection of all SBC Loans.
Each Borrower also shall make available to the Lender a knowledgeable financial or accounting officer for the purpose of answering questions respecting the SBC Loan Files and the SBC Loans.
Each Borrower covenants to cause each Servicer of the SBC Loans to service, the SBC Loans in conformity with accepted and prudent servicing practices in the industry for the same type of SBC Loans as the Pledged Assets and in a manner at least equal in quality to the servicing the Borrowers provides for SBC Loans which it owns, including without limitation, those requirements set forth in the applicable Servicing Agreements.
The SBC Loans and Participation Interests were acquired by a Borrower, and the origination and collection practices used with respect to the SBC Loans and Participation Interests have been, in all material respects legal, proper, prudent and customary in the commercial and multifamily SBC Loan servicing business.
Each of the SBC Loans and Participation Interests, as applicable, complies with the representations and warranties listed in Schedule 1-A or Schedule 1-B hereto.
Projected income from interest on balances invested in the Council’s Loan Fund is projected to be £100 less than the budget since currently the capital advanced to SBC Loans Fund is only earning half of the interest rate used to set the budget.
The Lender may underwrite such SBC Loans itself or engage a mutually agreed upon third party underwriter to perform such underwriting.
Servicer shall follow the instructions of the Lender with respect to the SBC Loans, and shall deliver to the Lender any information with respect to the SBC Loans reasonably requested by the Lender.
Upon receipt of such notice, the Borrowers and the Servicers shall cooperate in transferring the applicable servicing of the SBC Loans to a successor servicer appointed by the Lender in its sole discretion.