Purchase of Loans. On any date during the Reinvestment Period, if no Event of Default has occurred and is continuing, the Collateral Manager on behalf of the Borrower may, if each of the conditions specified in this Section 10.02 and Section 10.04 are met, invest Principal Proceeds, accrued interest received with respect to any Collateral Loan to the extent used to pay for accrued interest on additional Loans and other amounts on deposit in the Principal Collection Subaccount in additional Loans, provided, that no Loan may be purchased unless each of the following conditions are satisfied as of the date the Collateral Manager commits on behalf of the Borrower to make such purchase, in each case after giving effect to such purchase and all other sales or purchases previously or simultaneously committed to:
Purchase of Loans. (a) If such Put Notice requires that State Auto Mutual purchase each Lender's Loans, Notes and Commitment, then, on the Put Purchase Date specified in such Put Notice (which Put Purchase Date shall be at least three Business Days after the date of delivery of such Put Notice), (i) State Auto Mutual shall purchase from each Lender, and each Lender shall sell, assign and transfer to State Auto Mutual, all of such Lender's Loans, Notes and Commitment, as specified in such Put Notice and (ii) State Auto Mutual shall pay to the Agent for account of each Lender an aggregate amount equal to the sum of (x) the aggregate outstanding principal amount of Loans of such Lender PLUS (y) all accrued and unpaid interest thereon to the Put Purchase Date PLUS (z) all other amounts then payable to such Lender under the Basic Documents in respect thereof (including all amounts that would be payable under Section 3.4 of the Credit Agreement as if such portion of such Lender's Loans were being prepaid on the Put Purchase Date) (such amounts to be determined by the Agent and notified in writing by the Agent to State Auto Mutual prior to such Put Purchase Date). Upon the occurrence of any Put Event referred to in clause (g), (h) or (i) of the definition of such term in SECTION 1.1 hereof, State Auto Mutual shall automatically and without any action (including, without limitation the giving of notice) on the part of any other Person be required to purchase the entire principal amount of the Loans then outstanding.
Purchase of Loans. If there shall be any outstanding loans due from the Company to the selling Member or any Affiliate thereof (which is not also an Affiliate of the purchasing Member), such loans, including accrued and unpaid interest, shall be purchased at par or otherwise repaid in full by the purchasing Member on the Buy-Out Closing Date. The selling Member shall deliver and endorse without recourse to the purchasing Member each note or other instrument evidencing such loans and all documents securing such loans.
Purchase of Loans. On each Closing Date, Bank hereby agrees to sell, assign, set-over, transfer, and otherwise convey to Purchaser, or a third party designated by Purchaser subject to execution by such designated third party and Bank of a loan purchase and sale agreement, without recourse but subject to the representations, warranties, terms and provisions of this Agreement and with all servicing released, and Purchaser agrees to purchase, or cause a designated third Party acceptable to Bank to purchase, as the case may be, on each Closing Date, all of Bank’s right, title and interest in and to the Purchaser Loans funded by Bank on the applicable Funding Date. At least three (3) Business Days prior to each Closing Date, Purchaser shall provide Bank with a statement (each such statement, a “Funding Statement”), which shall contain, as applicable, (i) the names of the Borrowers for each of the Purchaser Loans Purchaser or Purchaser’s designated third party intends to purchase; (ii) the Purchase Price for each Purchaser Loan, and (iii) such other information as shall be reasonably requested by Bank. Bank shall review and confirm to Purchaser the sale terms set forth in each Funding Statement no later than one (1) Business Day following Bank’s receipt of a Funding Statement from Purchaser. On each Closing Date, Bank shall provide an acknowledgement of the sale of the Purchaser Loans in accordance with the terms of this Agreement. Purchaser shall promptly notify Bank of any event that would materially and adversely affect the Purchaser’s ability to purchase the Purchaser Loans.
Purchase of Loans. (a) In addition to the purchase of Branch Assets and assumption of Deposits described above, Liberty shall purchase on the Effective Date certain deposit related loans attributed on the records of Eagle to the Middlefield Office. These loans shall consist of: (i) loans secured by Deposits, including but not limited to, savings accounts and certificates, at the Middlefield Office, and (ii) loans created by writing a check or similar instrument on an account at the Middlefield Office, utilizing an established line of credit. Within five business days of the date of this Agreement, Eagle will provide to Liberty a list of such loans as of a recent practicable date. Each loan referred to in clause (i) shall be fully secured by a deposit account or accounts pursuant to a valid written agreement with the borrower. Each line of credit loan referred to in clause (ii) shall be pursuant to a valid written agreement with the borrower. All forms of written agreements used for such line of credit loans will be provided to Liberty.
Purchase of Loans. Seller shall transfer and Buyer shall purchase, as of and at the Effective Time and subject to the terms and conditions set forth herein, the Loans listed on Schedule B. Seller further agrees that it shall transfer all rights to and interests in the Loans and any security agreements to the Buyer as of the Effective Time.
Purchase of Loans. At Closing (as defined below) and subject to the terms, conditions and provisions herein, (i) Xxxxx Fargo Guam agrees to sell, convey, transfer and assign to the Buyer all of its right, title and interest in and to the loans, promissory notes, and retail installment contracts and revolving charge agreements identified in Schedule A attached hereto and incorporated herein by reference (the “Xxxxx Fargo Guam Loans”), and all documents which evidence, secure or regulate the Xxxxx Fargo Guam Loans, including promissory notes, mortgages, deeds of trust, credit agreements, guaranties, security agreements, UCC-1 Financing Statements, pledges or other collateral documents, policies of title insurance, or other insurance, appraisals, appraisal reviews, loan applications, and loan disclosure statements (the “Guam Loan Documents”), and the Buyer agrees to acquire all of Xxxxx Fargo Guam’s right, title and interest in and to the Xxxxx Fargo Guam Loans and the Guam Loan Documents subject to and in accordance with the terms of this Agreement; and (ii) Xxxxx Fargo Saipan agrees to sell, convey, transfer and assign to the Buyer all of its right, title and interest in and to the loans, promissory notes, and retail installment contracts and revolving charge agreements identified in Schedule B attached hereto and incorporated herein by reference (the “Xxxxx Fargo Saipan Loans”), and all documents which evidence, secure or regulate the Xxxxx Fargo Saipan Loans, including promissory notes, mortgages, deeds of trust, credit agreements, guaranties, security agreements, UCC-1 Financing Statements, pledges or other collateral documents, policies of title insurance, or other insurance, appraisals, appraisal reviews, loan applications, and loan disclosure statements (the “Saipan Loan Documents”), and the Buyer agrees to acquire all of Xxxxx Fargo Saipan’s right, title and interest in and to the Xxxxx Fargo Saipan Loans and the Saipan Loan Documents subject to and in accordance with the terms of this Agreement. The Xxxxx Fargo Guam Loans and the Xxxxx Fargo Saipan Loans are referred to collectively herein as the “Loans”, and the Guam Loan Documents and the Saipan Loan Documents are referred to collectively herein as the “Loan Documents”. For the purposes of this Agreement, Loans shall not include (i) any real estate loans owned by either Seller that are subject to any pending foreclosure or similar court or judicial proceeding to collect amounts owed under any mortgage loan, deed of ...
Purchase of Loans. A. At the Effective Time, subject to the terms and conditions set forth herein, Seller will sell, convey, assign and transfer to Purchaser and Purchaser shall purchase from Seller, at the price and upon the terms and conditions set forth herein, all of Seller's right, title and interest, as of the Effective Time, in and to the Loans, free and clear of all Encumbrances.
Purchase of Loans. The Manager may cause the LLC to purchase existing loans from the Manager and/or its Affiliates, provided such loans meet the underwriting standards applicable to other loans purchased by the LLC, no foreclosure has been initiated with respect to such loans, and the price paid by the LLC does not exceed the principal balance then owing upon such loan. no foreclosure has been initiated with respect to such loan, and the price paid by the LLC does not exceed the principal balance then owing upon such loan.
