LOAN CONTINGENCY. This contract is contingent upon Purchaser obtaining a loan. Purchaser agrees to apply for loan within five (5) days of the effective date of this contract. Purchaser agrees to execute all necessary forms and/or legal instruments required by Lending Institution and/or Seller. Xxxxxxxxx agrees to act in good faith and use diligence in attempting to obtain loan approval and understands and agrees that failure to do so shall constitute default and entitle Seller to retain all monies previously paid to Seller as liquidated damages. If a loan contingency applies, Purchaser shall forfeit xxxxxxx money in the event that he/she/they willingly make a job or career change or make any major purchases, or make any other purposeful financial decisions that would adversely affect his/her/their ability to maintain loan approval status and prevent the consummation of this agreement.
LOAN CONTINGENCY. Buyer’s obligation to purchase the property is contingent upon Buyer obtaining the 20 writing, attempt to renegotiate, or cancel the RPA by providing written notice to the Seller no later than calendar 21 days following the date of Acceptance of the RPA; whereupon the EMD shall be released to the Buyer without the requirement of 22 written authorization from Seller. IF this Residential Purchase Agreement is not cancelled, in writing on or before the Loan 23 Contingency Deadline, Buyer shall be deemed to have waived the loan contingency. 24
LOAN CONTINGENCY. Buyer shall have obtained, within the Loan Contingency Period (as defined in Section 4.11 below), third-party financing for sixty percent (60%) of the Purchase Price upon terms and conditions reasonably acceptable to Buyer (the “Financing”).
LOAN CONTINGENCY. Xxxxx’s obligation to purchase the property is contingent upon Buyer obtaining the 22 contingency in writing, attempt to renegotiate, or cancel this Agreement by providing written notice to the Seller no later than 23 calendar days following the date of Acceptance of this Agreement; whereupon the EMD shall be released to the Buyer 24 without the requirement of written authorization from Seller. IF this Vacant Land Purchase Agreement is not cancelled, in 25 writing on or before the Loan Contingency Deadline, Buyer shall be deemed to have waived the loan contingency. 27 3. ADDITIONAL CONTINGENCIES (MARK THOSE THAT APPLY):
LOAN CONTINGENCY. Buyer’s obligation is is not subject to the ability to secure a loan under the following terms and conditions:
LOAN CONTINGENCY. This contract: 🞏 IS 🞏 IS NOT contingent on the Purchaser being approved for a loan in the amount of $ Purchaser agrees to apply for such loan within days of the contract date and to make a good faith and diligent effort to obtain such loan. The Purchaser shall notify the Seller (or Seller’s Agent, if any) in writing by (date) that Purchaser (a) is unable to obtain such approval and elects to terminate this contract and receive a return of all deposits or (b) has obtained such commitment; or (c) elect to waive this contingency. Purchaser shall be deemed to have waived this contingency unless timely written notification of Purchaser’s election to terminate this contract is given to Seller or Seller’s agent, or the parties agree to extend the time for the loan contingency. Discount Points, if any, to be paid by: 🞏 Purchaser 🞏 Seller Not to exceed $ Initial PMI, if any, to be paid by: 🞏 Purchaser 🞏 Seller
LOAN CONTINGENCY. If no loan amount is stated in paragraph 6, this Contract shall be firm and unconditional upon execution by both parties. Otherwise, Xxxxx's obligation to buy the timeshare unit(s) or vacation club points depends upon Xxxxx's receiving a written commitment from a lender to provide a loan to Buyer in the amount set forth in paragraph 6, with interest at prevailing rate, repayable on not less than a 5 year payment schedule, and/or from Seller in the amount and upon the terms set forth in paragraph 6. Xxxxx agrees to file a loan application within 10 days from the date of the contract and to sign such application forms and to supply such information as may be required by the lender or the Seller. Seller has no obligation to provide financing as set forth in paragraph 6 until Seller has reviewed such credit information as Seller may reasonably request and has notified Buyer in writing that such financing is approved. To evidence and secure any loan provided by Seller, Seller will prepare loan documents, which will include a Promissory Note and may include a Mortgage or other security document, to be executed by Buyer at or prior to closing.
LOAN CONTINGENCY. Buyer shall have obtained, within the Loan Contingency Period (as defined in Section 4.11 below), third-party financing for sixty percent (60%) of the Purchase Price upon terms and conditions reasonably acceptable to Buyer (the “Financing”). If in order to obtain Financing a lender requires the posting of a letter of credit or deposit in an amount not to exceed $3,500,000, Buyer shall obtain and post the letter of credit and Seller agrees to pay the annual cost of the letter of credit (approximately 1.5% of the total amount of the letter of credit) each year for a term of up to three (3) years. If such a letter of credit is required, it shall not be deemed reasonably unacceptable to Buyer under the terms of this Agreement.
LOAN CONTINGENCY. [ ] This offer is contingent upon the Buyer obtaining a loan of $ to be repaid in not less than months at an annual interest rate 6.0% . [ ] Buyer requires no loan. Kitchen appliances [ ] Are [ ] are NOT included.
LOAN CONTINGENCY. Buyer’s obligation to purchase the Property is also expressly conditioned upon Buyer’s obtaining the loans, any required down payment, and estimated closing costs approved by Housing Works. Buyer shall act diligently and in good faith to obtain the designated loans, down payment, and closing costs. The loan contingency shall remain in effect until the designated loans are funded [or days After Acceptance, by which time Buyer shall give Seller written notice of Buyer’s election to cancel this Agreement if Buyer is unable to obtain the designated loans. If Buyer fails to provide such written notice within that time, Seller may cancel this Agreement in writing.].
