New Section 36 Clause Samples

The "New Section 36" clause introduces a new provision or section into an existing agreement or legal document. Typically, this clause outlines additional terms, rights, or obligations that were not previously addressed, and it may specify the scope, applicability, and effective date of the new section. For example, it could add new compliance requirements, procedures, or remedies relevant to the parties. The core function of this clause is to formally incorporate new content into the agreement, ensuring that all parties are aware of and bound by the updated terms.
New Section 36. Section 36 is hereby added to the Rights Agreement to read in its entirety as follows:
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Related to New Section 36

  • Pursuant to Section 4 01, any amounts collected by a Servicer or the Master Servicer under any insurance policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the related Servicing Agreement) shall be deposited into the Distribution Account, subject to withdrawal pursuant to Section 4.03. Any cost incurred by the Master Servicer or the related Servicer in maintaining any such insurance (if the Mortgagor defaults in its obligation to do so) shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or such Servicer pursuant to Sections 4.01 and 4.03.

  • Pursuant to Section 3 03 of the Indenture Supplement, on each Distribution Date, the Indenture Trustee shall deposit into the Class A(2016-3) Interest Funding sub-Account the portion of Card Series Finance Charge Amounts allocable to the Class A(2016-3) Notes.

  • Modification to Article III, Section 2 of the DPA Article III, Section 2 of the DPA (Annual Notification of Rights.) is amended as follows:

  • Pursuant to Section 2 1.(b) of the Credit Agreement, the Borrower hereby requests that the Lenders make Revolving Loans to the Borrower in an aggregate principal amount equal to $ .

  • Amendment to Section 4 07. Section 4.07 of the Indenture is hereby amended and restated in its entirety to read as follows: