APPLICATION FOR FINANCING Clause Samples
The 'Application for Financing' clause outlines the process and requirements for a party to formally request funding or a loan under the agreement. Typically, it specifies the information and documentation that must be submitted, such as financial statements or business plans, and may set deadlines or conditions for the application. This clause ensures that both parties understand the steps and standards involved in seeking financing, thereby streamlining the process and reducing misunderstandings or delays.
APPLICATION FOR FINANCING. If this sale is being financed, Purchaser shall have five (5) business days from the final execution date of this Agreement to make loan application. This Agreement may be canceled by Seller in the event Purchaser is not "prequalified" by a lender within seven (7) business days from the final execution date of this Agreement.
APPLICATION FOR FINANCING. If applicable, Buyer agrees to make complete application for new loan or for loan assumption within N/A business days from --- the execution date of this Real Estate Contract and to request that the loan or the assumption be approved on or about N/A calendar days after application. --- Complete loan application includes ordering and paying for any credit reports or appraisals that are required to make the loan. In order to timely complete the application required by this Paragraph 5, Buyer agrees to provide lender with all requested information. Unless otherwise specified, if said loan is not closed or assumed, Buyer agrees to pay for loan costs incurred, including appraisal and credit report, unless failure to close is caused by Seller, in which case such expenses will be paid by Seller. Buyer understands that failure to timely make loan application as defined above constitute a breach of this Real Estate Contract.
APPLICATION FOR FINANCING. If applicable, Buyer agrees to make application for a new loan within days from date of this contract.
APPLICATION FOR FINANCING. If applicable, ▇▇▇▇▇ agrees to make a complete application for new loan or for loan assumption within five (5) business days from the acceptance date of this Real Estate Contract. In order to make a complete application as required by this Paragraph 5, ▇▇▇▇▇ agrees to provide lender with any requested information and pay for any credit report(s) and appraisal(s) required to make the loan. Unless otherwise specified. If said loan is not closed or assumed, ▇▇▇▇▇ agrees to pay for loan costs incurred, including appraisal and credit reports, unless failure to close is solely the result of a breach of this Real Estate Contract by Seller, in which case such expenses will be paid by Seller. Buyer understands that failure to make a complete loan application as defined above may constitute a breach of this Real Estate Contract.
APPLICATION FOR FINANCING. ▇▇▇▇▇ agrees to apply for all third-party financing (Financing) in an amount sufficient to pay the entire Purchase Price (with any ▇▇▇▇▇▇▇ Money or other cash payments being taken into account) within ten (10) days after the Effective Date. ▇▇▇▇▇ also agrees to cooperate with the Lender in all reasonable ways, including by supplying all information requested in a timely manner. Lender must be authorized by the appropriate agencies of the State of Texas to make mortgage loans and must be the Lender that will fund the loan contemplated by this paragraph at the Closing. ▇▇▇▇▇ authorizes ▇▇▇▇▇▇ to communicate with Seller regarding the status of the loan approval process as well as any issue that may arise in obtaining the Financing. ▇▇▇▇▇ agrees to pay all costs of the Financing. If, despite ▇▇▇▇▇’s fulfillment of all obligations under this paragraph, Financing is not approved for Buyer or a financing commitment is not issued by Lender (subject only to such conditions as are acceptable to Seller) and delivered to Seller within thirty (30) days from the Effective Date, Seller may terminate this Contract, in which event the ▇▇▇▇▇▇▇ Money (but not any Additional Deposit, all of which shall be retained by Seller) shall be refunded to the Buyer, and neither Buyer nor Seller shall have any further obligation or liability to the other. If Financing is not conditionally approved (as previously described) within thirty (30) days from the Effective Date as a result of Buyer’s failure to fulfill one or more obligations under this paragraph, or if Financing is conditionally approved, but thereafter approval is withdrawn, cancelled, or otherwise repudiated by ▇▇▇▇▇▇, whether rightfully or wrongfully, or if any commitment issued by the Lender expires, or should Lender for any reason (rightful or wrongful) fail to fund the loan within five (5) business days after the date of Substantial Completion, Seller may regard that circumstance as a default by Buyer, even if Buyer is not actually “at fault” for such occurrence or did not “cause” it and Seller may terminate this Contract and retain all ▇▇▇▇▇▇▇ Money and Additional Deposits. “
APPLICATION FOR FINANCING. Buyer shall have until April 4, 2002 to execute a broker's agreement with Holliday Fenoglio Fowler, L.P. ▇▇ ▇▇▇▇▇e ▇▇▇▇▇▇▇▇g (▇▇▇ "▇▇▇▇▇r's Agreement"), a copy of which shall be promptly delivered to Seller.