Repurchase of Contracts Sample Clauses

Repurchase of Contracts. Upon the occurrence of a Triggering Event, Seller may elect to repurchase any Contract within the time specified in this Article 5. The purchase price for the Contract to be repurchased shall be the payoff amount on the Contract plus all accrued and unpaid interest thereon, less one-half of the unearned discount on the Contract at the date of exchange. In addition, Seller shall reimburse Purchaser for any and all expenses incurred by Purchaser with respect to such Contract. Upon the receipt by Purchaser of the repurchase price together with any expenses as set forth in this Section 5.5, Purchaser shall promptly deliver to Seller the Contract to be repurchased, the Contract File related to the repurchased Contract and all other documents in the possession of Purchaser related to the repurchased Contract.
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Repurchase of Contracts. (a) Upon discovery by the Seller of a breach of any of the representations and warranties set forth in Exhibit B, the Seller shall give prompt written notice thereof to the other party. If the Seller does not correct or cure such breach on or before the 15th day following the earlier of discovery of such breach by Seller or receipt of notice of such breach, then the Seller shall repurchase such Contract on the Repurchase Date next succeeding such 15th day following receipt of such notice (or, if such 15th day following receipt of such notice occurs on a Repurchase Date, on such Repurchase Date).
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Repurchase of Contracts or Substitution of Contracts for -------------------------------------------------------- Breach of Representations and Warranties. ----------------------------------------
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Repurchase of Contracts. If any representation or warranty of the Seller contained in Section 3.2(b) shall be breached or shall fail to be true, and such breach or failure shall not have been cured by the close of business on the last day of the Collection Period which includes the thirtieth (30th) day after the date on which the Seller becomes aware of, or receives written notice from the Purchaser, the Indenture Trustee, the Owner Trustee, the Noteholders or the Certificateholders of, such breach or failure, and such breach or failure materially and adversely affects the interest of the Purchaser or the Trust in a Contract, the Seller shall repurchase such Contract from the Purchaser or the Trust on the Payment Date immediately following such Collection Period. In consideration of the repurchase of a Contract hereunder, the Seller shall remit the Purchase Amount of such Contract to the Purchaser or the Trust, as applicable. The sole remedy of the Purchaser, the Trust, the Indenture Trustee, the Owner Trustee, the Noteholders and the Certificateholders with respect to a breach or failure to be true of the representations and warranties made by the Seller pursuant to Section 3.2(b) shall be to require the Seller to repurchase Contracts pursuant to this Section 6.2.
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Repurchase of Contracts. (a) If NCC or Client reasonably determines that:
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Repurchase of Contracts. Dealer will repurchase any obligation purchased by PCI under this Agreement if any of the foregoing warranties or representations shall be materially false misleading or untrue with respect to such obligation or any related contract. In any case of repurchase by Dealer of an obligation under this Section 3, Dealer agrees upon demand to pay to PCI the purchase price paid by PCI therefor and all interest due but not paid there under less PCI’s actual collections thereon, together with any costs. Expenses and attorney fees expended in attempts to enforce the terms of any related contract. All obligations repurchased by Dealer hereunder shall be reassigned to Dealer, without recourse to PCI, and without warranties, express or implied, and shall be delivered to Dealer against payment to PCI. PCI shall not be bound to exhaust its recourse against any security on any obligor before being entitled to payment by Dealer. Dealer waives all notice which Dealer may be entitled to receive and waives all set-offs and counterclaims.
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Repurchase of Contracts. APX will take such actions as may be necessary to exercise, at the Closing, subject to the payment by Buyer of the repurchase amounts set forth in Sections 2.2(f) and 2.2(g), APX’s rights to acquire all rights, title and interest in the Assets to be Acquired (as defined in each of the RBS Agreement, the Riverwoods II Agreement and the Riverwoods III Agreement) (collectively, the “Account Repurchases”).
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Repurchase of Contracts. If Dealer is required to repurchase any contract pursuant to paragraph 6 hereof, Dealer shall on demand pay to American in cash, the gross unpaid balance remaining on the contract, less unearned finance charges. If for any reason Dealer fails to purchase any such contract and there has been a default thereunder, American may repossess any collateral covered and sell it at public or private sale without notice to Dealer, and Dealer will be liable for and shall pay to American any deficiency balance.
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Repurchase of Contracts. Upon discovery by Seller of a breach of any of the representations and warranties set forth in Commercial Exhibit B or Residential Exhibit B, as the case may be, Seller shall give prompt written notice thereof to Buyer. If Seller does not correct or cure such breach on or before the 15th day following the earlier of discovery of such breach by Seller or receipt of notice of such breach, then Seller shall repurchase such Contract on the Repurchase Date next succeeding such 15th day following receipt of such notice (or, if such 15th day following receipt of such notice occurs on a Repurchase Date, on such Repurchase Date). The provisions of this Section shall not be deemed to limit, or affect the time periods provided for in, any other provision of this Agreement respecting margin maintenance or otherwise.
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Related to Repurchase of Contracts

  • Repurchase of Notes Neither the Company nor any Restricted Subsidiary or Affiliate, directly or indirectly, may repurchase or make any offer to repurchase any Notes unless the offer has been made to repurchase Notes, pro rata, from all holders of the Notes at the same time and upon the same terms. In case the Company repurchases any Notes, such Notes shall thereafter be cancelled and no Notes shall be issued in substitution therefor.

  • Repurchase Agreements With respect to all agreements pursuant to which the Company or any of its Subsidiaries has purchased securities subject to an agreement to resell, if any, the Company or any of its Subsidiaries, as the case may be, has a valid, perfected first lien or security interest in the government securities or other collateral securing the repurchase agreement, and, as of the date hereof, the value of such collateral equals or exceeds the amount of the debt secured thereby.

  • Repurchase Offers In the event that, pursuant to Sections 4.10 and 4.14 hereof, the Company shall be required to commence an offer to all Holders to purchase their respective Notes (a “Repurchase Offer”), it shall follow the procedures specified below. The Repurchase Offer shall remain open for a period of 20 Business Days following its commencement and no longer, except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than five Business Days after the termination of the Offer Period (the “Purchase Date”), the Company shall purchase the principal amount of Notes required to be purchased pursuant to Sections 4.10 and 4.14 hereof (the “Offer Amount”) or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Repurchase Offer. Payment for any Notes so purchased shall be made in the same manner as interest payments are made. If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest shall be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest shall be payable to Holders who tender Notes pursuant to the Repurchase Offer. Upon the commencement of a Repurchase Offer, the Company shall send, by first class mail, a notice to the Trustee and each of the Holders, with a copy to the Trustee. The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Repurchase Offer. The Repurchase Offer shall be made to all Holders. The notice, which shall govern the terms of the Repurchase Offer, shall state:

  • Repurchase of Receivables In the event of a breach of any representation or warranty set forth on Exhibit A which materially and adversely affects the interests of the Issuer or the Securityholders and unless the breach shall have been cured by the last day of the second Collection Period following the Collection Period in which the discovery of the breach is made or notice is received, as the case may be (or, at the option of the RPA Seller, the last day in the first Collection Period following the Collection Period in which such discovery is made), the RPA Seller shall repurchase such Receivable. In consideration of the purchase of any such Receivable, on the related Payment Date, the RPA Seller shall remit an amount equal to the Warranty Purchase Payment in respect of such Receivable to the Purchaser and shall be entitled to receive the Released Warranty Amount. Upon any such repurchase, each of the Purchaser and the Issuer shall, without further action, be deemed to transfer, assign and otherwise convey to the RPA Seller, without recourse, representation or warranty, all the right, title and interest of either the Purchaser or the Issuer in, to and under such repurchased Receivable, all monies due or to become due with respect thereto and all proceeds thereof. The Purchaser, the Issuer, the Owner Trustee, the Delaware Trustee or the Indenture Trustee, as applicable, shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by the RPA Seller to effect the conveyance of such Receivable pursuant to this Section. The sole remedy of the Purchaser, the Issuer, the Trustees or the Securityholders with respect to a breach of the RPA Seller’s representations and warranties pursuant to Section 2.03(a) shall be to require the RPA Seller to repurchase the related Receivables pursuant to this Section.

  • REVERSE REPURCHASE AGREEMENTS 1. Promptly after the Fund enters a Reverse Repurchase Agreement with respect to Securities and money held by the Custodian hereunder, the Fund shall deliver to the Custodian a Certificate, or in the event such Reverse Repurchase Agreement is a Money Market Security, a Certificate, Oral Instructions, or Written Instructions specifying: (a) the Series for which the Reverse Repurchase Agreement is entered; (b) the total amount payable to the Fund in connection with such Reverse Repurchase Agreement and specifically allocated to such Series; (c) the broker, dealer, or financial institution with whom the Reverse Repurchase Agreement is entered; (d) the amount and kind of Securities to be delivered by the Fund to such broker, dealer, or financial institution; (e) the date of such Reverse Repurchase Agreement; and (f) the amount of cash and/or the amount and kind of Securities, if any, specifically allocated to such Series to be deposited in a Senior Security Account for such Series in connection with such Reverse Repurchase Agreement. The Custodian shall, upon receipt of the total amount payable to the Fund specified in the Certificate, Oral Instructions, or Written Instructions make the delivery to the broker, dealer, or financial institution and the deposits, if any, to the Senior Security Account, specified in such Certificate, Oral Instructions, or Written Instructions.

  • Repurchase of Receivables Upon Breach Upon the occurrence of a Repurchase Event, Seller shall, unless the breach which is the subject of such Repurchase Event shall have been cured in all material respects, repurchase the Receivable relating thereto from the Issuer if and only if the interests of the Noteholders therein are materially and adversely affected by any such breach and, simultaneously with the repurchase of the Receivable, Seller shall deposit the Purchase Amount in full, without deduction or offset, to the Collection Account, pursuant to Section 3.2 of the Sale and Servicing Agreement. It is understood and agreed that, except as set forth in Section 6.1 hereof, the obligation of Seller to repurchase any Receivable, as to which a breach occurred and is continuing, shall, if such obligation is fulfilled, constitute the sole remedy against Seller for such breach available to Purchaser, the Issuer, the Noteholders, the Certificateholder, the Trust Collateral Agent on behalf of the Noteholders or the Owner Trustee on behalf of the Certificateholder. The provisions of this Section 5.1 are intended to grant the Issuer and the Trust Collateral Agent a direct right against Seller to demand performance hereunder, and in connection therewith, Seller waives any requirement of prior demand against Purchaser with respect to such repurchase obligation. Furthermore, any Person who may request that any Receivable be repurchased by the Seller or the Purchaser in accordance with Section 3.2 of the Sale and Servicing Agreement may request that the Seller repurchase the related Receivable due to the occurrence of a Repurchase Event, in the same manner that it would request such repurchase pursuant to Section 3.2 of the Sale and Servicing Agreement. Any repurchase hereunder shall take place in the manner specified in Section 3.2 of the Sale and Servicing Agreement. Notwithstanding any other provision of this Agreement or the Sale and Servicing Agreement to the contrary, the obligation of Seller under this Section shall not terminate upon a termination of Seller as Servicer under the Sale and Servicing Agreement and shall be performed in accordance with the terms hereof notwithstanding the failure of the Servicer or Purchaser to perform any of their respective obligations with respect to such Receivable under the Sale and Servicing Agreement. In addition to the foregoing and notwithstanding whether the related Receivable shall have been purchased by Seller, Seller shall indemnify the Issuer, the Trust Collateral Agent, the Trustee, the Owner Trustee, the Noteholders and the Certificateholder from and against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third party claims arising out of the events or facts giving rise to such Repurchase Events.

  • Repurchase of Shares If any share is repurchased by any of the Funds or is tendered thereto for redemption within seven business days after confirmation by us of the original purchase order from you for such security, you shall forthwith refund to us the full compensation paid to you on the original sale.

  • Acknowledgment Regarding Investor’s Purchase of Shares The Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm’s length purchaser with respect to the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby and any advice given by the Investor or any of its respective representatives or agents in connection with the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to the Investor’s purchase of the Securities, and is not being relied on by the Company. The Company further represents to the Investor that the Company’s decision to enter into the Registered Offering Transaction Documents has been based solely on the independent evaluation by the Company and its representatives.

  • Optional Purchase of Certain Mortgage Loans With respect to any Mortgage Loans which as of the first day of a Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC shall have the right to purchase any Mortgage Loan from the Trust which becomes 90 days or more delinquent or becomes an REO Property at a price equal to the Purchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Fiscal Quarter. In addition, EMC shall, at its option, purchase any Mortgage Loan from the Trust if the first Due Date for such Mortgage Loan is subsequent to the Cut-off Date and the initial Scheduled Payment is not made within thirty (30) days of such Due Date. Such purchase shall be made at a price equal to the Purchase Price. If at any time EMC remits to the Master Servicer a payment for deposit in the Protected Account covering the amount of the Purchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Protected Account, then the Trustee shall execute the assignment of such Mortgage Loan prepared and delivered to the Trustee, at the request of EMC, without recourse, representation or warranty, to EMC which shall succeed to all the Trustee’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

  • Repurchase and Substitution (b) If there is no Controlling Holder under the Pooling and Servicing Agreement, then all rights that are to be exercised by the Controlling Holder pursuant to Section 10(a) shall be exercised by Assignee.

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