Common use of Clean-up Call; Optional Reacquisition; Election to Reacquire Clause in Contracts

Clean-up Call; Optional Reacquisition; Election to Reacquire.  The initial Servicer shall have the option to reacquire not less than all of the Timeshare Loans in the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool or the Fifth Aggregate Sale Date Loan Pool any date after the First Optional Reacquisition Date, the Second Optional Reacquisition Date, the Third Optional Reacquisition Date, the Fourth Optional Reacquisition Date, or the Fifth Optional Reacquisition Date respectively, by payment of an amount equal to the Reacquisition Price (unless amounts in the Trust Accounts are sufficient to make such payments). 

Appears in 2 contracts

Samples: Loan Sale and Servicing Agreement (BBX Capital Corp), Loan Sale and Servicing Agreement (Bluegreen Vacations Corp)

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Clean-up Call; Optional Reacquisition; Election to Reacquire.  The initial Servicer shall have the option to reacquire not less than all of the Timeshare Loans in the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool or the Fifth Sixth Aggregate Sale Date Loan Pool any date after the First Optional Reacquisition Date, the Second Optional Reacquisition Date, the Third Optional Reacquisition Date, the Fourth Optional Reacquisition Date, the Fifth Optional Reacquisition Date or the Fifth Sixth Optional Reacquisition Date respectively, by payment of an amount equal to the Reacquisition Price (unless amounts in the Trust Accounts are sufficient to make such payments). 

Appears in 2 contracts

Samples: Loan Sale and Servicing Agreement (Bluegreen Vacations Holding Corp), Loan Sale and Servicing Agreement (Bluegreen Vacations Corp)

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