Temporary Loan definition
Examples of Temporary Loan in a sentence
That, as of the Temporary Loan Payment Modification Effective Date, I understand that the Lender will only allow the transfer and assumption of the Loan, including this Agreement, to a transferee of my property in the case of my death, divorce, or marriage to the same extent as permitted under the ▇▇▇▇ St. ▇▇▇▇▇▇▇ Act, 12 U.S.C. Section 1701j-3.
If Lender requires me to obtain credit counseling in connection with the Temporary Loan Payment Modification, I will do so; and G.
That, as of the Temporary Loan Payment Modification Effective Date, if any provision in the Note or in any addendum or amendment to the Note allowed for the assessment of a penalty for full or partial prepayment of the Note, such provision is null and void.
If I elect not to sign any such corrected Agreement, the terms of the original Loan Documents shall continue in full force and effect, such terms will not be modified by this Agreement, and I will not be eligible for a modification under the Temporary Loan Payment Modification Plan.
If prior to the Temporary Loan Payment Modification Effective Date (as defined in Section 3) the Lender determines that any of my representations in Section 1 are no longer true and correct, or any of the covenants in Section 1 has not been performed, the Loan Documents will not be modified and this Agreement will terminate.
That, as of the Temporary Loan Payment Modification Effective Date, notwithstanding any other provision of the Loan Documents, if all or any part of the Property or any interest in it is sold or transferred without Lender’s prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by the Mortgage.
I understand that the Loan Documents will not be modified unless and until (i) I receive from the Lender a copy of this Agreement signed by the Lender, and (ii) the Temporary Loan Payment Modification Effective Date (as defined in Section 3) has occurred.
The Company shall have entered into the Control Agreement with the Initial Lender and the bank where the Temporary Loan Account for the Initial Lender is located, on terms and conditions satisfactory to the Initial Lender.
When: The Servicer must complete (but not sign) this form prior to implementing a Temporary Loan Payment Modification.
In the event that the Temporary Loan is not fully paid to Investor by the maturity date of the Temporary Loan, then Full House shall unconditionally pay to Investor, within ninety (90) days of written demand by Investor, half of the outstanding principal balance plus all unpaid interest accrued on half of the outstanding principal.