Rights and Liabilities. The guarantee and right to require purchase will be directly enforceable by Holder notwithstanding any fraud or misrepresentation by Lender or any unenforceability of the Loan Note Guarantee by Lender. Nothing contained herein shall constitute any waiver by USDA of any rights it possesses against the Lender, and the Lender agrees that Xxxxxx will be liable and will promptly reimburse USDA for any payment made by USDA to Holder which, if such Xxxxxx had held the guaranteed portion of the loan, USDA would not be required to make. The Holder upon written notice to the Lender and USDA may resell the unpaid balance of the guaranteed portion of the loan assigned hereunder.
Appears in 4 contracts
Samples: Assignment Guarantee Agreement, Assignment Guarantee Agreement, Assignment Guarantee Agreement
