Repurchase Request Clause Samples
A Repurchase Request clause establishes the right of one party, typically the buyer or investor, to require the seller or originator to repurchase certain assets under specified conditions. This clause usually applies when the assets, such as loans or receivables, are found to breach representations or warranties, or otherwise fail to meet agreed-upon standards. By providing a clear mechanism for addressing defective or non-compliant assets, the clause helps allocate risk and ensures that the buyer is protected against losses arising from such issues.
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Repurchase Request. The Primary Servicer shall promptly, but in no event later than five (5) Business Days after receipt, provide to the Master Servicer a copy of any written 15Ga-1 Repurchase Request, withdrawal of a 15Ga-1 Repurchase Request, or rejection of a 15Ga-1 Repurchase Request received by the Primary Servicer and such other information in the possession of the Primary Servicer reasonably requested by the Master Servicer to fulfill its obligations under Section 2.02(g) and Section 2.03 of the Pooling and Servicing Agreement.
Repurchase Request. Upon the occurrence of a Repurchase Event and whether or not the Company shall have made an Option Repurchase Offer or Option Share Repurchase Offer under Section 10(a), at the request (the date of such request being the "Option Repurchase Request Date") of Grantee delivered prior to the Option Termination Date, the Company (i) shall repurchase the Option from Grantee at the Option Repurchase Price and (ii) shall repurchase such number of the Option Shares (to the extent clearly identifiable as such) from Grantee as Grantee shall designate at the Option Share Repurchase Price.
Repurchase Request. If a Resolution Failure occurs with respect to a PSA Party Repurchase Request, the provisions described below under Section 2.03(l) shall apply.
Repurchase Request. Upon the occurrence of a Repurchase Event and whether or not the Company shall have made an Option Repurchase Offer or Option Share Repurchase Offer under Section 10(a), (i) at the request (the date of such request being the "Option Repurchase Request Date") of Grantee delivered prior to the Option Termination Date, the Company shall repurchase the Option from Grantee at the Option Repurchase Price and (ii) at the request (the date of such request being the "Option Share Repurchase Request Date") of any Owner delivered prior to the Option Termination Date, the Company shall repurchase such number of the Option Shares (to the extent clearly identifiable as such) from the Owner as the Owner shall designate at the Option Share Repurchase Price.
Repurchase Request. At any time after a Repurchase Event (i) at the request of the Holder, delivered prior to an Exercise Termination Event (or such later period as provided in Section 10), Issuer (or any successor thereto) will repurchase the Option from the Holder at the Option Repurchase Price and (ii) at the request of the owner of Option Shares from time to time (the "Owner"), delivered prior to an Exercise Termination Event (or such later period as provided in Section 10), Issuer (or any successor thereto) will repurchase the number of the Option Shares from the Owner as the Owner designates at the Option Share Repurchase Price.
Repurchase Request. At any time after a Repurchase Event (i) at the request of the Holder, delivered prior to an Exercise Termination Event (or such later period as provided in Section 10), Issuer (or any successor thereto) will repurchase the Option from the Holder at the
Repurchase Request. Upon the occurrence of a Repurchase Event and whether or not the Company shall have made an Option Repurchase Offer or Option Share Repurchase Offer under Section 10(a), (i) at the request (the date of such ------------- request being the "Option Repurchase Request Date") of Grantee delivered prior ------------------------------ to the Option Termination Date, the Company shall repurchase the Option from Grantee at the Option Repurchase Price and (ii) at the request (the date of such request being the "Option Share Repurchase Request Date") of any Owner delivered ------------------------------------ prior to the Option Termination Date, the Company shall repurchase such number of the Option Shares (to the extent clearly identifiable as such) from the Owner as the Owner shall designate at the Option Share Repurchase Price.
Repurchase Request. At any time after September 27, 2002 ------------------ and provided that the Series A Preferred issued to the holders pursuant to the Purchase Agreement was not automatically converted into Common Stock pursuant to Article III(4)(b) of the Company's Articles of Incorporation, but within thirty (30) days (the "Repurchase Date")after the receipt by the Company of a written --------------- request (the "Repurchase Request") from the Holders of not less than a majority ------------------ of the Registrable Securities that all or some of such Holders' shares of capital stock of the Company be repurchased, and concurrently with surrender by such Holders of the certificates representing such shares, the Company shall, to the extent it may lawfully do so, repurchase the shares specified in the Repurchase Request by paying in cash therefor a sum per share equal to the higher of (i) $3.23 per share of Series A Preferred Stock (as adjusted for any stock dividends, combinations or splits with respect to such shares) plus all declared or accumulated but unpaid dividends on such shares or (ii) the Fair Market Value (as defined below) of each such share (the "Repurchase Price"). ---------------- Notwithstanding the foregoing, the Company may, at its option, repurchase the shares with respect to which the Repurchase Request has been made through the issuance of one or more promissory notes, each of which shall be secured by all of the assets of the Company and accrue interest at the prime rate on the Repurchase Date as reported in the Wall Street Journal, compounded monthly. The accrued principal and interest under such promissory notes shall be due and payable in equal quarterly installments over a three year period and may be prepaid in full by the Company prior to the expiration of such period. The Repurchase Date shall occur no more than thirty days after the receipt by the Company of the Repurchase Request, provided that if the last day of such thirty day period falls on a Saturday, Sunday or legal holiday the Repurchase Date that would otherwise have occurred on such Saturday, Sunday or legal holiday shall occur on the next succeeding business day.
Repurchase Request. 15 3.2 Notice ............................................................ 16 3.3