Underwriting Process Sample Clauses

The Underwriting Process clause outlines the procedures and criteria by which an insurer evaluates and decides whether to accept or reject an application for insurance coverage. This typically involves assessing the applicant's risk profile, reviewing relevant documentation, and possibly requiring additional information or medical examinations. By establishing a clear process for risk assessment, this clause ensures that both parties understand the steps involved in obtaining coverage and helps the insurer manage risk effectively.
Underwriting Process. Diamond Resorts will review each loan application, taking into account the following guidelines and requirements. a. All new financed sales are subject to credit underwriting by DRFS. b. It is the responsibility of the sales site (Quality Assurance Officer or Sales manager) to advise the customer that the loan request is subject to underwriting approval. c. The credit underwriting will be authorized by personnel in the DRFS Contracts Department. (All persons authorized to make credit decisions on behalf of DRFS shall be granted this authority by the National Contracts Manager.) d. DRFS management or their designee will approve every financed sale before a loan is scheduled for escrow close. Such approval will include: 1. a complete and accurate contract that is in compliance with Diamond Resorts policy, and
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Underwriting Process. Diamond Resorts will review each loan application, taking into account the following guidelines and requirements. a. The amount financed for any one loan may not exceed $50,000. Additional down payments will be required for new loans, including balances on existing loans being wrapped, that exceed the $50,000 loan cap. b. All new financed sales are subject to credit underwriting by DRFS. c. It is the responsibility of the sales site (Quality Assurance Officer or Sales manager) to advise the customer that the loan request is subject to underwriting approval. d. The credit underwriting will be authorized by personnel in the DRFS Contracts Department. (All persons authorized to make credit decisions on behalf of DRFS shall be granted this authority by the National Contracts Manager.) e. DRFS management or their designee will approve every financed sale before a loan is scheduled for escrow close. Such approval will include: 1. a complete and accurate contract that is in compliance with Diamond Resorts policy, and 2. a credit bureau report for all financed sales, including any transaction for existing owners; or 3. when a credit report is not available, a Credit Exception Form as described below Note: All exceptions will require documentation on a Credit Exception Form, which must accompany the document file and require signature approval by the VP Client Services, National Contracts Manager or the Director, Operations.
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Underwriting Process. Diamond Resorts will review each loan application, taking into account the following guidelines and requirements. KL2 2787979.5 a. The amount financed for any one loan may not exceed $50,000. Additional down payments will be required for new loans, including balances on existing loans being wrapped, that exceed the $50,000 loan cap. b. All new financed sales are subject to credit underwriting by DRFS. c. It is the responsibility of the sales site (Quality Assurance Officer or Sales manager) to advise the customer that the loan request is subject to underwriting approval. d. The credit underwriting will be authorized by personnel in the DRFS Contracts Department. (All persons authorized to make credit decisions on behalf of DRFS shall be granted this authority by the Director, National Contracts and Credit.) e. DRFS management or their designee will approve every financed sale before a loan is scheduled for escrow close. Such approval will include: 1. a complete and accurate contract that is in compliance with Diamond Resorts policy, and 2. a credit bureau report for all financed sales, including any transaction for existing owners; or
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Underwriting Process. The initial underwriting process begins when a deal is sourced and entered into the CapitalSource Deal Tracker (“DT”). The information gathered at this point includes, but is not limited to, financial statements, management profile, projections, need for financing, sponsor or buying group profile (if applicable). Once a deal is sourced, either a Development Officer or Investment Officer prepares a term sheet. See origination section for a discussion on term sheets. When the decision to issue a term sheet is made, Underwriting should be notified by entering the information on the DT so that the progress of the term sheet can be tracked. All term sheets, along with other pertinent deal flow information should be communicated to Underwriting such that appropriate staffing decisions and planning can be accomplished. Once a term sheet is executed by a potential customer, the Investment Officer and assigned Underwriting Officer should go through a planning process. This process will include setting the expectations for timing of delivery of a closing, and then working backwards, determine a date for approval, a date that the credit write-up needs to be completed, date the field exam needs to be completed, etc. Any scheduling of appraisals, outside research, background checks etc. should be determined, and responsible parties determined at that time. The majority of all new transactions will require a field examination. The scope will vary depending on whether there is a reliance on collateral, cashflow, or both. The scope of this fieldwork would be determined in the planning process. Obviously, as fieldwork is being performed, adjustments to the scope of the work are often necessary. The underwriter and Investment Officer must be kept appraised of the process so that any adjustments to the timing, structure, etc. can be considered and communicated back to the customer as necessary. Field examination work is to be summarized in a comprehensive document in a standard format as determined by CapitalAnalytics. This report is to be included in the credit package submitted to the credit committee for approval. The accumulation of the due diligence/underwriting process will be documented in the form of an underwriting report. An underwriter must prepare this document. This report has a standardized format as determined by CapitalAnalytics. The Investment Officer will prepare a separate credit memorandum with his/her analysis of the transaction. These documents have a s...
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Underwriting Process. The underwriting process consists mainly of the commercialization process of the bonds. The issuer will play an important role throughout this process. Senior representatives of the issuer will generally assist with meetings with the underwriter and potential investors to promote the securities. The underwriter and the issuer will analyse the reaction of the investors during the roadshows and agree on the price, payable interest and quantity of securities and will execute the underwriting agreement. During the subscription period, the underwriters will execute different subscription agreements with investors, whereby the investors will agree to purchase a determined amount of securities. Generally, the subscriptions agreements are conditioned upon (i) the underwriting agreement relating to the offering being executed and having become unconditional, (ii) successful completion of the offering; and, (iii) the successful listing of the securities. As can be expected, this agreement is heavily negotiated, as it will distribute the risks of the allocation of the securities in the market. A balance has to be reached between the price and quantity of securities to be issued. If overestimated, the price of the securities could fall after the initial offering while, on the other hand, a bad estimation of price could also lead to the issuer “selling” its securities at a price lower than what the market is willing to pay (underselling). Closing will be deferred from signing, these are two stages in the completion of the execution of the agreement. At closing, the issuer will deliver the securities and the underwriter will pay the agreed price (if that is what has been agreed, rather than just make best efforts or to acquire any unsold securities). The parties may agree on another mechanism by means of which the price of the securities is agreed before executing the agreement. This will be followed by a subscription period in which the underwriter will try to sell the securities to investors who will place orders for buying the securities effective at the end of the subscription period. In this case the underwriter will prior obtain quotation from other major players (sub-underwriters) to estimate the appetite of the market for the securities. The difference between these two processes is the allocation of risk regarding the success or not of the commercialization process. In the first mechanism, risk is mostly shared by the parties, as the price is determined at the ...
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Underwriting Process. Section 2.01 —
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Related to Underwriting Process

  • Underwriting Procedures (i) If (x) any of the Initiating Holders so elects for itself or (y) with respect to any given trading day, a Designated Holder proposes to sell or dispose of more than the Daily Trade Amount and the Company's board of directors determines in good faith that it is necessary for an orderly distribution to be made pursuant to a firm commitment underwritten offering, then the Company shall use all commercially reasonable efforts to cause such Demand Registration to be in the form of, and such Designated Holder or Designated Holders shall be obligated to sell or dispose of its or their Registrable Securities pursuant to, a firm commitment underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved Underwriter selected in accordance with Section 3(f). In connection with any Demand Registration under this Section 3 involving an underwritten offering, none of the Registrable Securities held by any Designated Holder making a request for inclusion of such Registrable Securities pursuant to Section 3(b) hereof shall be included in such underwritten offering unless such Designated Holder accepts the terms of the offering as agreed upon by the Company, the Initiating Holders and the Approved Underwriter, and then only in such quantity as will not, in the opinion of the Approved Underwriter, jeopardize the success of such offering by the Initiating Holders. If the Approved Underwriter advises the Company in its reasonable opinion that the aggregate amount of such Registrable Securities requested to be included in such offering is sufficiently large to have a material adverse effect on the success of such offering, then the Company shall include in such registration only the aggregate amount of Registrable Securities that the Approved Underwriter believes may be sold without any such material adverse effect and shall reduce the amount of Registrable Securities to be included in such registration by removing from such registration securities owned, first by the Company and second by the Designated Holders (including the Initiating Holders) pro rata based on the number of Registrable Securities owned by each such Designated Holder. (ii) If an Initiating Holder makes a request for a Demand Registration and, pursuant to Section 3(e)(i) above, the Approved Underwriter advises the Company to reduce the aggregate amount of Registrable Securities requested to be included in such offering such that less than seventy-five percent (75%) of the Registrable Securities requested to be included by any Initiating Holder are ultimately included in and sold pursuant to such Demand Registration, the Initiating Holder shall have the right to require the Company to effect an additional Demand Registration; provided, however, that in no event shall the aggregate number of Demand Registrations to be effected by the Company for any one Initiating Holder exceed two (2).

  • Underwriting Agreements If requested by the Underwriters for any Underwritten Offering requested by holders pursuant to Sections 2.1 or 2.3, the Company and the holders of Registrable Securities to be included therein shall enter into an underwriting agreement with such Underwriters, such agreement to be reasonably satisfactory in substance and form to the Company, the holders of a majority-in-interest of each class of the Registrable Securities to be included in such Underwritten Offering and the Underwriters, and to contain such terms and conditions as are generally prevailing in agreements of that type, including, without limitation, indemnities no less favorable to the recipient thereof than those provided in Section 2.4. The holders of any Registrable Securities to be included in any Underwritten Offering pursuant to Section 2.2 shall enter into such an underwriting agreement at the request of the Company. All of the representations and warranties and the other agreements by and on the part of the Company to and for the benefit of the Underwriters included in any such underwriting agreement shall also be made to and for the benefit of such holders, and any or all of the conditions precedent to the obligations of the Underwriters under such underwriting agreement shall be conditions precedent to the obligations of such holders. No holder shall be required in any such underwriting agreement to make any representations or warranties to or agreements with the Company or the Underwriters other than representations, warranties or agreements regarding such holder, such holder’s Registrable Securities, such holder’s intended method of distribution and any other representations required by law.

  • Underwriting Agreement This Agreement has been duly authorized, executed and delivered by the Company.

  • The Underwriting Agreement This Agreement has been duly authorized, executed and delivered by the Company.

  • Description of the Underwriting Agreement This Agreement conforms in all material respects to the description thereof contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus.