Firm Commitment definition

Firm Commitment has the meaning set forth in Section 4.2.

Firm Commitment means the commitment for insurance of advances or commitment for insurance upon completion, dated __________, issued to Lender by HUD under which the debt evidenced by the Note is to be insured pursuant to a Section of the National Housing Act.

Firm Commitment means an underwriting in which a broker-dealer commits to buy the mortgage loan or the entire issue of securities based upon or backed by 1 or more mortgage loans and assumes all financial responsibility for any unsold securities.

Examples of Firm Commitment in a sentence

• HUD has issued a Firm Commitment to insure said Loan pursuant to § _____ of the National Housing Act, as amended, and Program Obligations, on which mortgage insurance Borrower is relying for financing of the Project.

• HUD has issued a Firm Commitment to insure said Loan pursuant to § of the National Housing Act, as amended, and Program Obligations, on which mortgage insurance Borrower is relying for financing of the Project.

• Xxxxxxxx understands that Xxxxxx has received a Firm Commitment from HUD for insurance of said Loan under the provisions of the National Housing Act, as amended, and intends upon execution of the hereinafter mentioned Note and Security Instrument to have the Note endorsed for insurance by HUD.

• HUD has issued a Firm Commitment to insure said Loan pursuant to the National Housing Act, as amended, and Program Obligations, on which mortgage insurance Borrower is relying for financing of the Project.

• Xxxxxxxx understands that Xxxxxx has received a Firm Commitment from HUD to insure the Loan under the provisions of the National Housing Act, as amended, and intends upon execution of the Note and Security Instrument to have the Note endorsed for insurance by HUD.

More Definitions of Firm Commitment

Firm Commitment shall have the meaning set forth in Section 4.3.

Firm Commitment means a letter ofcommitment from a partner by which an applicant’s partner agrees to perform an activity specified in the application, demonstrates the financial capacity to deliver the resources necessary to carry out the activity, and commits the resources to the activity, either in cash or through in-kind contributions. It is irrevocable, subject only to approval and receipt of a fiscal year FY2008 Rural Housing and Economic Development grant. Each letter of commitment must include the organization’s name and applicant’s name, reference the Rural Housing and Economic Development program, and describe the proposed total level of commitment and responsibilities, expressed in dollar value for cash or in-kind contributions, as they relate to the proposed program. The commitment must be written on the letterhead of the participating organization, must be signed by an official of the organization legally able to make commitments on behalf of the organization, and must be dated no earlier than the date of publication of this NOFA. In documenting a firm commitment, the applicant’s partner must:

Firm Commitment has the meaning attributed to it by Clause 2.1;

Firm Commitment means a commitment from an Approved Investor or security dealer satisfactory to the Bank, to purchase from the Company a Loan or Loans or a Mortgage-backed Security or Securities under which commitment the Company is obligated to sell such Loan, Loans, or Mortgage-backed Security or Securities.

Firm Commitment means an obligation that is to be unaffected by the expiration of the Option or the termination of the Option by either party;

Firm Commitment shall have the meaning specified in Section 3.1.

Firm Commitment means the Work Programs during the first *** Contract Years, as set forth in Sub-section 4.2 of this CONTRACT, for which CONTRACTOR is committed and obligated to complete.