Warranty Loan definition

Warranty Loan. Any Loan that fails to satisfy any criteria of the definition of Eligible Loan as of the applicable Cut-Off Date of such Loan or any Loan with respect to which a Warranty Event has occurred.

Warranty Loan has the meaning specified in the Purchase and Contribution Agreement.

Warranty Loan. Any Loan (a) that fails to satisfy any criteria set forth in clause (iii) of the definition of “Eligible Loan” as of any date (except with respect to any such criteria that is explicitly stated to apply with respect solely to the date of acquisition of such Loan in which case, the failure to satisfy such criteria as of such date of acquisition), other than the failure of such Loan to satisfy the criteria set forth in clause (iii)(g) of the definition of “Eligible Loan” as of any date other than the date of acquisition of such Loan, (b) with respect to which a Warranty Event has occurred or (c) with respect to which the Borrower has failed to deliver the Required Loan Documents described in Section 3.2(i) within the time periods set forth therein.

Examples of Warranty Loan in a sentence

• For the avoidance of doubt, the Borrower hereby agrees that any such breach of any representation or warranty made by the Borrower under Section 4.02 of the Original Agreement prior to the Restatement Date shall be treated as a breach of a representation or warranty under this Section 4.02, including, without limitation, for purposes of the Borrower’ obligation to repurchase Warranty Loan Assets.

• The Borrower shall not hold or own any assets that are not part of the Collateral Portfolio or powers and rights incidental to the Transaction Documents other than any Warranty Loan Asset pursuant to Section 2.07(c).

• Except as otherwise permitted herein and in respect of any Discretionary Sale, Substitution or sale of a Warranty Loan, the Borrower will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other than the security interest granted to the Administrative Agent, on behalf of the Secured Parties, pursuant to this Agreement or Permitted Liens) on any Collateral, whether now existing or hereafter transferred hereunder, or any interest therein.

• In the foregoing instances, the relevant Borrower shall make such repayment and on and after the date of such repayment, each Warranty Loan so repaid shall not be included in the Collateral.

• The Administrative Agent, as agent for the Secured Parties, shall (if and when the applicable Seller elects to accept the release of such Warranty Loan), at the sole expense of the Servicer, execute such documents and instruments as may be prepared by the Servicer on behalf of the applicable Seller and take other such actions as shall reasonably be requested by the applicable Seller to effect the release of such Warranty Loan pursuant to this Section 4.6.

More Definitions of Warranty Loan

Warranty Loan. Defined in Section 6.1.

Warranty Loan. Any Loan for which the Transferor becomes subject to an obligation under the Sale Agreement to repurchase or substitute such Loan.

Warranty Loan. Any Loan (a) that fails to satisfy any criteria set forth in clauses (ii)(f), (ii)(r), (ii)(s), (ii)(gg), or (ii)(nn) (but only for failure to satisfy clause (f) and (g) of the definition of “Eligible Obligor”) of the definition of “Eligible Loan” as of any date (except with respect to any such criteria that is explicitly stated to apply with respect solely to the date of acquisition of such Loan) or (b) with respect to which the Borrower has failed to deliver the Required Loan Documents described in Section 3.2(i) within the time periods set forth therein. [FS Investment] Loan and Security Agreement

Warranty Loan. Any Loan that fails to satisfy any criteria of the definition of Eligible Loan as of the Closing Date and the same continues unremedied for a period of thirty (30) days (or such shorter time as determined by the Servicer in its sole discretion) after the date on which the applicable Seller and/or the Servicer becomes aware or reasonably should have become aware thereof.

Warranty Loan means any Loan with respect to which a Warranty Event has occurred, and including any Loan deemed a Warranty Loan pursuant to Clause 5.1.2.

Warranty Loan. A Loan which the Warranty Purchaser has become obligated to repurchase pursuant to Section 2.12 of the Purchase Agreement or Section 2.12 of the Pooling and Servicing Agreement.

Warranty Loan. Any Loan with respect to which a Warranty Event has occurred.