Exercise of Right of Sponsor to Fund or Cause Funding in Connection with Release Event Sample Clauses

Exercise of Right of Sponsor to Fund or Cause Funding in Connection with Release Event. Upon the occurrence of a Release Event under the Series Certificate Agreement and the exercise by Fxxxxxx Mac of its right to cause a purchase of the related series of Deposited Assets, the Sponsor shall have the right (or where the Sponsor directs Fxxxxxx Mac to cause a Release Event pursuant to Sections 3.20, 3.21, 3.22 or 3.23 the obligation) economically to fund or cause the funding of the purchase of such Deposited Assets as provided in this Section 7.3(a). If the Sponsor elects to exercise any such right by giving notice to Fxxxxxx Mac, the Sponsor shall provide or cause to be provided sufficient immediately available funds to Fxxxxxx Mac to fund the Total Release Price of the affected Deposited Assets not later than 11:00 a.m. Washington, D.C. time, on the Business Day prior to the Release Event Date designated by Fxxxxxx Mac. If the Sponsor makes such election or directs Fxxxxxx Mac to declare a Release Event pursuant to the terms hereof and fails to provide or cause to be provided such funds to Fxxxxxx Mac when required, such Release Event shall be cancelled. All moneys provided or caused to have been provided by the Sponsor to Fxxxxxx Mac for the purchase of Deposited Assets, shall be applied as provided in the Series Certificate Agreement.
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Exercise of Right of Sponsor to Fund or Cause Funding in Connection with Release Event. Subject to the last sentence of this Section 7.3(a), upon the occurrence of circumstances which constitute a Release Event under any Series Certificate Agreement, the Sponsor shall have the right to direct Freddie Mac to designate a Release Event with respect to the related issue of Bonds, along with the right economically to fund or cause the funding of the purchase of such Bonds as provided in this Section 7.3(a). (The Sponsor shall be required to exercise such right and to fund or cause such funding when required to by Freddie Mac in connection with a Repurchase Inaccuracy pursuant to Section 2.4.) If the Sponsor elects to exercise any such right by giving notice to Freddie Mac (or is required to do so pursuant to Section 2.4), the Sponsor shall provide or cause to be provided sufficient immediately available funds to Freddie Mac to fund the outstanding principal balance, together with all accrued interest thereon (the “Purchase Price”) of the affected Bonds not later than 11:00 a.m. Washington, D.C. time, on the Business Day prior to the Release Event Date designated by Freddie Mac, together with Hypothetical Gain Share, if any, in connection with such Release Event. (If the Sponsor makes such election and fails to provide or cause to be provided such funds to Freddie Mac when required, such Release Event shall be cancelled.) All moneys provided or caused to have been provided by the Sponsor to Freddie Mac for the purchase of such Bonds, shall be applied as provided in the Series Certificate Agreement. To the extent that such application results in the redemption of all Class A Certificates within the related Series Pool(s), the balance, if any, of such purchase price will be used to redeem Class B Certificates and shall be paid to the Pledge Custodian under this Agreement. Pursuant to, and to the extent required in Section 8.8 relating to Special Adjustment Events, such monies, along with the liquidation proceeds from any remaining related Bonds, shall be used to purchase Class A Certificates in the unrelated Series Pool designated in the Series Certificate Agreement for such purpose, and those Class A Certificates so purchased shall be deemed Pledged Class A Certificates and held under Article VIII of this Agreement. Any such Pledged Class A Certificates shall not be remarketed without the prior written consent of Freddie Mac in its sole discretion. The foregoing notwithstanding, the Sponsor may only exercise its option to direct Freddie Mac to desig...
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Related to Exercise of Right of Sponsor to Fund or Cause Funding in Connection with Release Event

  • Termination without Cause or Resignation for Good Reason in Connection with a Change of Control If the Company terminates Executive’s employment with the Company without Cause or if Executive resigns from such employment for Good Reason, and such termination occurs within the period beginning three (3) months before, and ending twelve (12) months following, a Change of Control, and Executive signs and does not revoke a release of claims with the Company (in a form reasonably acceptable to the Company) and provided that such release of claims becomes effective no later than the Release Deadline, then subject to this Section 3, Executive will receive the following:

  • Effect of Bankruptcy, Death, Incompetence or Termination of a Limited Partner The occurrence of an Event of Bankruptcy as to a Limited Partner, the death of a Limited Partner or a final adjudication that a Limited Partner is incompetent (which term shall include, but not be limited to, insanity) shall not cause the termination or dissolution of the Partnership, and the business of the Partnership shall continue if an order for relief in a bankruptcy proceeding is entered against a Limited Partner, the trustee or receiver of his estate or, if he dies, his executor, administrator or trustee, or, if he is finally adjudicated incompetent, his committee, guardian or conservator, shall have the rights of such Limited Partner for the purpose of settling or managing his estate property and such power as the bankrupt, deceased or incompetent Limited Partner possessed to assign all or any part of his Partnership Interest and to join with the assignee in satisfying conditions precedent to the admission of the assignee as a Substitute Limited Partner.

  • Waiver of Servicer Termination Events The Noteholders of a majority of the Note Balance of the Controlling Class or, if no Notes are Outstanding, the Owner Trustee, at the direction of the holder of the Residual Interest, may direct the Indenture Trustee to waive a Servicer Termination Event, except failure to make required deposits to or payment from any of the Bank Accounts, and its consequences. On any waiver, the Servicer Termination Event will be considered not to have occurred. No waiver will extend to any other Servicer Termination Event or impair a right relating to any other Servicer Termination Event. The Issuer will promptly notify the Rating Agencies of any waiver.

  • Termination with Good Reason Executive may terminate this Agreement for Good Reason, and thereby resign his employment, after providing thirty (30) days’ written notice to the Company of the act(s) or omission(s) constituting Good Reason (which notice must be given within ninety (90) days after the occurrence of such act(s) or omission(s) and describe the act(s) or omission(s) in reasonable detail) if such act(s) or omission(s) is/are not cured by the Company within thirty (30) days after Executive provides such written notice. For purposes hereof, “Good Reason” means any of the following reasons that occurs without Executive’s written consent:

  • Termination in Connection with a Change in Control a. For purposes of this Agreement, a “

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Termination in Connection with a Change of Control If the Executive’s employment is terminated by the Company other than for Cause or by the Executive for Good Reason during the Effective Period, then the Executive shall be entitled to receive the following from the Company:

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