Loan Repurchase Sample Clauses

Loan Repurchase. For a period of twelve (12) months following the Closing, the Purchaser may put back, or cause the Seller to repurchase, at par, any Loan having a balance of greater than $50,000 if the enforceability of the Loan has been substantially impaired because of documentation errors (excluding with respect to the Credit Underwriting Documents) on the part of Seller (a “Documentation Put”). If Purchaser elects to exercise its right of a Documentation Put with respect to a Loan, such election shall be Purchaser’s sole remedy with respect to such Loan, and Purchaser may not otherwise make a claim for indemnification or damages with respect thereto.
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Loan Repurchase. Broker shall repurchase any Loan submitted to Lender under this Agreement within thirty (30) business days of receipt of written notice from Lender as set forth in this Section 5.2. Upon receipt of notice from Lender of a Repurchase Obligation, if such circumstance is capable of being cured, Broker shall have a period of thirty (30) days from the date of the notice in which to cure the circumstances giving rise to such repurchase. If Broker fails to cure such circumstances within this time frame as determined by Lender in its reasonable discretion, Broker shall repurchase the affected Loan by paying Lender the related Purchase Price immediately after the conclusion of the cure period. With respect to any repurchase set forth in this Section 5.2 that is not capable of being cured by Broker, Broker shall repurchase the affected Loan by paying the Purchase Price within ten (10) business days of receipt of written notice of a repurchase. For purposes of this Agreement, a “Repurchase Obligation” shall be defined as a breach of a representation, warranty or covenant set forth in this Agreement, the Guide or any other transaction document by the Broker or failure of any Mortgage Loan or the Broker to meet any requirements or standards required under this Agreement, Guide or any other transaction document.
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Loan Repurchase. Notwithstanding anything in this Agreement to the contrary, for a period of ninety (90) days following any termination of this Agreement, (i) the Manager (or the Manager’s designee) shall have the option to purchase any of the Closed Loans for a purchase price equal to the outstanding principal balance due with respect to such Closed Loans and the accrued and unpaid interest thereon through the date of such purchase, and (ii) the Manager shall use reasonable efforts to manage and supervise the servicing of any Closed Loans closed prior to such termination that are not purchased by the Manager or the Manager’s designee.
Sample 1
Loan Repurchase. Subject to and in accordance with the terms and conditions set forth in this Agreement, and all applicable laws, First Trinity agrees to Repurchase the Mortgage Loan from Texas Republic and Texas Republic agrees to sell Mortgage Loan(s) to First Trinity upon the occurrence of an Event of Loan Repurchase at the Repurchase Price as further defined in this Agreement.
Sample 1
Loan Repurchase. Seller agrees to repurchase upon conveyance by Purchaser any Deposit Related Loan or Other Loan as may be identified in the reasonable discretion of Purchaser within sixty (60) calendar days of Closing, such repurchase to be by payment to Purchaser in cash the sum of the principal amount plus accrued and unpaid interest thereon.
Sample 1
Loan Repurchase. In the event of a breach by Broker or repurchase demand by the investor, Broker shall repurchase any Loan submitted to ClearEdge under this Agreement within thirty (30) business days of receipt of written notice from ClearEdge as defined in Section 13.5 of this Agreement. Upon receipt of notice from ClearEdge of a repurchase obligation, if such repurchase is capable of being cured, Broker shall have a period of thirty (30) days from the date of the notice in which to cure the circumstances giving rise to such repurchase. If Broker fails to cure such circumstances within this time frame as determined by ClearEdge in its reasonable discretion, Broker shall repurchase the affected Loan by paying ClearEdge the related Purchase Price, as defined in Section 7.3, immediately after the conclusion of the cure period. With respect to any repurchase set forth in this Section that is not capable of being cured by Xxxxxx, Xxxxxx shall repurchase the affected mortgage loan by paying the Purchase Price within thirty (30) business days of receipt of written notice of a repurchase. Broker shall repurchase any loan submitted to and funded by ClearEdge if any loan becomes thirty (30) days or more delinquent during the first three (3) scheduled payments, and the loan is not brought current by the borrower within ninety (90) days of the date of delinquency. Broker shall not have the right to advance funds for or on behalf of a borrower for any delinquent payment or to otherwise make funds available to any borrower to avoid or cure a default by the borrower.
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Loan Repurchase 
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Related to Loan Repurchase

  • Loan Repurchases (a) Subject to the terms and conditions set forth or referred to below, the Borrower may from time to time, at its discretion, conduct modified Dutch auctions in order to purchase its Term Loans of one or more Classes (as determined by the Borrower) (each, a “Purchase Offer”), each such Purchase Offer to be managed exclusively by the Administrative Agent (or such other financial institution chosen by the Borrower and reasonably acceptable to the Administrative Agent) (in such capacity, the “Auction Manager”), so long as the following conditions are satisfied:

  • Optional Repurchase (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 2022-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 2022-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor.

  • Stock Repurchase 30 2.37 Disclosure.................................................. 30 2.38

  • Mandatory Repurchase 19 SECTION 6.2.

  • Closing of Repurchase The closing of the purchase of such Employee Units pursuant to Sections 6(c) above shall take place on the date designated by the Company in the Repurchase Notice. The Company (or its nominee) shall pay for such Employee Units to be purchased by delivery, at the sole option of the Company, of either (i) a check or wire transfer of immediately available funds or (ii) an unsecured promissory note in form and substance reasonably acceptable to the Board and Employee; provided that such promissory note shall (A) accrue interest at the then Applicable Federal Rate as published by the Internal Revenue Service, (B) have a stated maturity of five years, (C) provide that the principal and all accrued interest thereon shall be due and payable in arrears at maturity, (D) allow for voluntary prepayments of principal and interest without penalty or premium and (E) be subordinated to any indebtedness for borrowed money of the Company and its Subsidiaries. In connection with the purchase of Employee Units hereunder, the Company shall be entitled to receive customary representations and warranties from the sellers regarding such sale of units (including representations and warranties regarding good title to such units, free and clear of any liens or encumbrances).

  • Termination upon Liquidation or Repurchase of all Mortgage Loans Subject to Section 9.03, the obligations and responsibilities of the Depositor, the Servicer and the Trustee created hereby with respect to the Trust Fund shall terminate upon the earlier of (a) the repurchase by the Servicer of all of the Mortgage Loans (and REO Properties) remaining in either Loan Group at the price (the "Repurchase Price") equal to the sum of (i) 100% of the Stated Principal Balance of each Mortgage Loan in such Loan Group (other than in respect of REO Property), (ii) accrued interest thereon at the applicable Mortgage Rate, (iii) the appraised value of any REO Property in such Loan Group (up to the Stated Principal Balance of the related Mortgage Loan), such appraisal to be conducted by an appraiser mutually agreed upon by the Depositor and the Trustee and (iv) any unreimbursed Servicing Fees, Advances and Servicing Advances with respect to the Mortgage Loans in such Loan Group prior to the exercise of such repurchase, together with any unreimbursed Servicing Fees; and (b) the later of (i) the maturity or other liquidation (or any Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the distribution to Certificateholders of all amounts required to be distributed to them pursuant to this Agreement, as applicable. In no event shall the trusts created hereby continue beyond the earlier of (i) the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James's, living on the date hereof and (ii) the Latest Possible Maturity Date. The right to repurchase all Mortgage Loans and REO Properties in a Loan Group pursuant to clause (a) above shall be conditioned upon the aggregate Stated Principal Balance of the Mortgage Loans in such Loan Group, at the time of any such repurchase, aggregating ten percent or less of the aggregate Principal Balance of the Mortgage Loans in such Loan Group as of the Cut-off Date.

  • Realization Upon Defaulted Mortgage Loans; Repurchase of Certain Mortgage Loans (a) Each Servicer shall use reasonable efforts to foreclose upon or otherwise comparably convert the ownership of properties securing such of the related Non-Designated Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments. In connection with such foreclosure or other conversion, each Servicer shall take such action as (i) such Servicer would take under similar circumstances with respect to a similar mortgage loan held for its own account for investment, (ii) shall be consistent with Accepted Servicing Practices, (iii) such Servicer shall determine consistently with Accepted Servicing Practices to be in the best interest of the Trust Fund and Certificateholders, and (iv) is consistent with the requirements of the insurer under any Required Insurance Policy; provided, however, that such Servicer shall not be required to expend its own funds in connection with any foreclosure or towards the restoration of any property unless it shall determine (i) that such restoration and/or foreclosure will increase the proceeds of liquidation of the related Non-Designated Mortgage Loan after reimbursement to itself of such expenses and (ii) that such expenses will be recoverable to it through Liquidation Proceeds. Any funds expended by any Servicer pursuant to this Section 3.11(a) shall be reimbursable in full pursuant to Section 3.08(a)(iii). The related Servicer shall be responsible for all other costs and expenses incurred by it in any such proceedings; provided, however, that it shall be entitled to reimbursement thereof from the Liquidation Proceeds with respect to the related Mortgaged Property or otherwise as a Servicing Advance in accordance with Section 3.08(a). With respect to any Non-Designated Mortgage Loan, notwithstanding anything to the contrary contained in this Agreement, in connection with a foreclosure or acceptance of a deed in lieu of foreclosure, in the event the related Servicer has reasonable cause to believe that the related Mortgaged Property is contaminated by hazardous or toxic substances or wastes, or if the Trust Administrator otherwise requests, an environmental inspection or review of such Mortgaged Property conducted by a qualified inspector shall be arranged for by such Servicer. Upon completion of the inspection, the related Servicer shall promptly provide the Trust Administrator with a written report of environmental inspection. In the event the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances or wastes, the related Servicer shall not proceed with foreclosure or acceptance of a deed in lieu of foreclosure if the estimated costs of the environmental clean up, as estimated in the environmental inspection report, together with the Servicing Advances and Advances made such Servicer and the estimated costs of foreclosure or acceptance of a deed in lieu of foreclosure exceeds the estimated value of the Mortgaged Property. If however, the aggregate of such clean up and foreclosure costs, Advances and Servicing Advances are less than or equal to the estimated value of the Mortgaged Property, then the related Servicer may, in its reasonable judgment and in accordance with Accepted Servicing Practices, choose to proceed with foreclosure or acceptance of a deed in lieu of foreclosure and such Servicer shall be reimbursed for all reasonable costs associated with such foreclosure or acceptance of a deed in lieu of foreclosure and any related environmental clean up costs, as applicable, from the related Liquidation Proceeds, or if the Liquidation Proceeds are insufficient to fully reimburse such Servicer, such Servicer shall be entitled to be reimbursed from amounts in the related Collection Account pursuant to Section 3.08(a) hereof. In the event the related Servicer does not proceed with foreclosure or acceptance of a deed in lieu of foreclosure pursuant to the first sentence of this paragraph, such Servicer shall be reimbursed for all Advances and Servicing Advances made with respect to the related Mortgaged Property from the related Collection Account pursuant to Section 3.08(a) hereof, and such Servicer shall have no further obligation to service such Non-Designated Mortgage Loan under the provisions of this Agreement.

  • Termination Upon Repurchase or Liquidation of All Mortgage Loans.............................................. SECTION 9.02

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