CHANGES TO THE UNDERWRITING POLICIES AND THE LENDING CRITERIA Sample Clauses
This clause defines the process and authority for making modifications to the underwriting policies and lending criteria within an agreement. It typically outlines who has the right to propose or approve changes, the procedures for implementing such changes, and any notice requirements to affected parties. For example, a lender may reserve the right to update credit assessment standards or adjust loan eligibility requirements in response to regulatory changes or market conditions. The core function of this clause is to provide flexibility for the parties to adapt to evolving financial or regulatory environments while ensuring that all stakeholders are informed and that the process for making changes is transparent and orderly.
CHANGES TO THE UNDERWRITING POLICIES AND THE LENDING CRITERIA. 15.1 The Seller's underwriting policies and lending criteria are subject to change within the Seller's sole discretion. New Loans and further advances that are originated under lending criteria that are different from the criteria set out here may be sold and assigned to the Mortgages Trustee. The score is used in conjunction with a number of policy rules to determine the lending decision.
15.2 Any material changes from the Seller’s prior underwriting policies and lending criteria shall be disclosed without undue delay to the extent required under Article 20(10) of the UK Securitisation Regulation.
15.3 Neither the issuing entity nor the Seller will revalue (a) any of the mortgaged properties in the Portfolio or (b) any new Loans and their Related Security which are to be sold to the Mortgages Trustee from time to time for the purposes of any issue. THIS DEED OF POWER OF ATTORNEY is made on [⚫] by:
(1) SANTANDER UK whose registered office is at ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇'▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ (registered number 2294747) (the Seller); in favour of each of:
CHANGES TO THE UNDERWRITING POLICIES AND THE LENDING CRITERIA. 15.1 The Seller's underwriting policies and lending criteria are subject to change within the Seller's sole discretion. New Loans and further advances that are originated under lending criteria that are different from the criteria set out here may be sold and assigned to the Mortgages Trustee. The score is used in conjunction with a number of policy rules to determine the lending decision.
15.2 Any material changes from the Seller’s prior underwriting policies and lending criteria shall be disclosed without undue delay to the extent required under Article 20(10) of the UK Securitisation Regulation.
15.3 Neither the issuing entity nor the Seller will revalue (a) any of the mortgaged properties in the Portfolio or (b) any new Loans and their Related Security which are to be sold to the Mortgages Trustee from time to time for the purposes of any issue.
(1) ALLIANCE & LEICESTER PLC whose registered office is at ▇▇▇▇▇▇▇ ▇▇▇▇, Narborough, Leicester LE19 0AL (registered number 03263713) (the Seller);
CHANGES TO THE UNDERWRITING POLICIES AND THE LENDING CRITERIA. 15.1 The Seller's underwriting policies and lending criteria are subject to change within the Seller's sole discretion. New Loans and further advances that are originated under lending criteria that are different from the criteria set out here may be sold and assigned to the Mortgages Trustee. The score is used in conjunction with a number of policy rules to determine the lending decision.
15.2 Neither the issuing entity nor the Seller will revalue (a) any of the mortgaged properties in the Portfolio or (b) any new Loans and their Related Security which are to be sold to the Mortgages Trustee from time to time for the purposes of any issue. THIS DEED OF POWER OF ATTORNEY is made on [•] by:
(1) SANTANDER UK whose registered office is at ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇'▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ (registered number 2294747) (the Seller); in favour of each of:
CHANGES TO THE UNDERWRITING POLICIES AND THE LENDING CRITERIA. 15.1 The Seller's underwriting policies and lending criteria are subject to change within the Seller's sole discretion. New Loans and further advances that are originated under lending criteria that are different from the criteria set out here may be sold and assigned to the Mortgages Trustee. The score is used in conjunction with a number of policy rules to determine the lending decision.
15.2 Any material changes from the Seller’s prior underwriting policies and lending criteria shall be disclosed without undue delay to the extent required under SECN 2.2.11R.
15.3 Neither the issuing entity nor the Seller will revalue (a) any of the mortgaged properties in the Portfolio or (b) any new Loans and their Related Security which are to be sold to the Mortgages Trustee from time to time for the purposes of any issue.
(1) ALLIANCE & LEICESTER PLC whose registered office is at ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ (registered number 03263713) (the Seller);
CHANGES TO THE UNDERWRITING POLICIES AND THE LENDING CRITERIA. 16.1 The Seller's underwriting policies and lending criteria are subject to change within the Seller's sole discretion. New Loans and further advances that are originated under lending criteria that are different from the criteria set out here may be sold and assigned to the Mortgages Trustee. The score is used in conjunction with a number of policy rules to determine the lending decision.
16.2 Neither the issuing entity nor the Seller will revalue (a) any of the mortgaged properties in the Portfolio or (b) any new Loans and their Related Security which are to be sold to the Mortgages Trustee from time to time for the purposes of any issue. THIS DEED OF POWER OF ATTORNEY is made on 28 November 2006 by:
(1) ALLIANCE & LEICESTER PLC whose registered office is at ▇▇▇▇▇▇▇ ▇▇▇▇, Narborough, Leicester LE19 0AL (registered number 03263713) (the Seller);