REMEDY FOR FIRST PAYMENT DEFAULT Clause Samples
REMEDY FOR FIRST PAYMENT DEFAULT. However, anything to the contrary notwithstanding, in the event the Borrower fails to make the first payment due to the Buyer within thirty (30) days of the payment due date, regardless of whether such payment is subsequently paid by the Borrower, the Buyer, at its sole and absolute discretion, shall have the right to have Seller repurchase said Loan(s) at the Buy-Back Price.
REMEDY FOR FIRST PAYMENT DEFAULT. However, anything to the contrary notwithstanding, in the event the Borrower fails to make the first payment due to the Buyer within thirty (30) days of the payment due date, regardless of whether such payment is subsequently paid by the Borrower, the Buyer, at its sole and absolute discretion, shall have the right to have Seller repurchase said Loan(s) at the Buy-Back Price. The Seller shall have fifteen (15) days from the date Buyer notifies Seller of a Borrower whose first payment is delinquent to have Borrower cure such delinquency.
REMEDY FOR FIRST PAYMENT DEFAULT. However, anything to the contrary notwithstanding, in the event the Borrower fails to make the first payment due to the Buyer within thirty (30) days of the payment due date, the Buyer will notify the Seller and the Seller will assist Buyer in the Collection of the first payment. In the event that the first payment is not received within ninety (90) days of the payment due date, then the Seller will refund the premium to the Buyer. In the event the failure to make the first payment is due to misrepresentation of the Borrower and/or Seller of circumstances with regard to the particular Loan, the Buyer, at its sole and absolute discretion, shall have the right to have Seller repurchase said Loan at the Buy-Back-Price.
REMEDY FOR FIRST PAYMENT DEFAULT. Notwithstanding anything to the contrary herein contained, if a Mortgagor fails to make the first payment due to Buyer within sixty (60) days of the first payment due date to occur after the Funding Date, regardless of whether such payment is subsequently paid by the Mortgagor, Buyer, at its sole and absolute discretion, shall have the right to require Seller to repurchase such Loan at the Repurchase Price within 10 days after receipt by Seller from Buyer of a written request to repurchase such Loans.