In the case where a lender assigns a loan or lease transaction with a NYSERDA component to another NYSERDA approved lender, are there any continuing obligations on the part of the original lender?
NYSERDA allows assignments and sales of loans/leases to be transferred under certain conditions. First, the terms of the original note or lease can not be changed. Second, NYSERDA requires that the original Lender be responsible for any and all obligations under the Loan Fund, for example, reporting the pre-payment of a loan or remittance of any return payment.
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