Forbearance Agreement definition
Examples of Forbearance Agreement in a sentence
The Loss Mit Type field should show the approved Loss Mitigation Code as follows: · ASUM- Approved Assumption · BAP- Borrower Assistance Program · CO- Charge Off · DIL- Deed-in-Lieu · FFA- Formal Forbearance Agreement · MOD- Loan Modification · PRE- Pre-Sale · SS- Short Sale · MISC- Anything else approved by the PMI or Pool Insurer NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards.
On September 26, 2017, the Company and the Forbearing Holders confirmed the signing of the Amended and Restated Forbearance Agreement (the “Amended FA”).
Borrowers and Guarantors agree to take such further action as Agent or any Lender shall reasonably request in connection herewith to evidence the amendments herein contained to the Forbearance Agreement.
As expressly amended hereby, the Forbearance Agreement and the other Loan Documents shall be and remain in full force and effect as originally written, and shall constitute the legal, valid, binding and enforceable obligations of Borrowers and Guarantors to Agent and Lenders.
Time is of the essence of this Agreement and of the Forbearance Agreement and the Loan Agreement.