Repurchases and Substitutions Sample Clauses

Repurchases and Substitutions. (a) The Depositor represents and warrants that as of the Closing Date:
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Repurchases and Substitutions. The Seller shall provide written notice to the Company of any repurchase pursuant to Section 7(a) not less than two Business Days prior to the date on which such repurchase is to be effected, specifying the Defective Loan and the Repurchase Price therefor. Upon the repurchase of a Defective Loan pursuant to Section 7(a), the Seller shall deposit the Repurchase Price in the Collection Account on behalf of the Company no later than 12:00 noon, New York time, on the Payment Date on which such repurchase is made (the "REPURCHASE DATE"). If the Seller elects to substitute a Qualified Substitute Loan or Loans for a Defective Loan pursuant to this Section 7(b), the Seller shall deliver such Qualified Substitute Loan in the same manner as the other Series 2002-1 Loans sold hereunder, including delivery of the applicable Loan Documents as required pursuant to the Custodial Agreement and satisfaction of the same conditions with respect to such Qualified Substitute Loan as to the Purchase of Additional Loans set forth in Section 2(d)(iii). Payments due with respect to Qualified Substitute Loans prior to the last day of the Due Period next preceding the date of substitution shall not be property of the Company, but will be retained by the Master Servicer and remitted by the Master Servicer to the Seller on the next succeeding Payment Date. Scheduled Payments due on a Defective Loan prior to the last day of the Due Period next preceding the date of substitution shall be property of the Company, and after such last day of the Due Period next preceding the date of substitution the Seller shall be entitled to retain all Scheduled Payments due thereafter and other amounts received in respect of such Defective Loan. The Seller shall cause the Master Servicer to deliver a schedule of any Defective Loans so removed and Qualified Substitute Loans so substituted to the Company and such schedule shall be an amendment to the Series 2002-1 Loan Schedule. Upon such substitution, the Qualified Substitute Loan or Loans shall be subject to the terms of this PA Supplement in all respects, the Seller shall be deemed to have made the representations and warranties with respect to each Qualified Substitute Loan set forth in Section 6(b) of the Agreement and this PA Supplement and Section 6(c) of the Agreement, in each case as of the date of substitution, and the Seller shall be deemed to have made a representation and warranty that each Loan so substituted is an Qualified Substitute Loan ...
Repurchases and Substitutions. The Depositor shall provide written notice to the Issuer of any repurchase pursuant to Section 9(a) not less than two Business Days prior to the date on which such repurchase is to be effected, specifying the Defective Loan and the Repurchase Price therefor. Upon the repurchase of a Defective Loan pursuant to Section 9(a), the Depositor shall deposit, or shall cause the applicable Seller to deposit, the Repurchase Price in the Collection Account on behalf of the Issuer no later than 12:00 noon, New York time, on the Payment Date on which such repurchase is made (the “Repurchase Date”).
Repurchases and Substitutions. 37 SECTION 0.Xxxx Collections, Distributions and Assignment of Defaulted Timeshare Loans to the Seller. 39 SECTION 9.Indemnification by Seller. 40 SECTION 10.Servicing. 41 SECTION 00.Xx Proceedings 61 SECTION 12.Notices, Etc 00 XXXXXXX 00.Xx Xxxxxx; Remedies 61 SECTION 14.Binding Effect; Assignability & Survivability 61 SECTION 15.Amendments; Consents and Waivers 62 SECTION 16.Severability 62 SECTION 17.GOVERNING LAW; CONSENT TO JURISDICTION. 62 SECTION 18.Headings 62 SECTION 19.Execution in Counterparts 62 SECTION 20.Confidentiality 63 SECTION 21.Multiple Roles 63 SECTION 22.Statements Required in Certificates or Opinions 63 TABLE OF CONTENTS, Page i SECTION 23.Fees, Expenses, Payments, Etc 63 SECTION 24.Term of the Agreement 64 SECTION 25.Intended Characterization; Grant of Security Interest 64 TABLE OF CONTENTS, Page ii SCHEDULES Schedule I Representations and Warranties as to Timeshare Loans Schedule II Representations and Warranties as to Resorts Schedule 1 Originators Schedule 2 Litigation Involving Diamond Resorts Corporation, any Diamond Resorts Party, and any Originator. Schedule 3 Tax Matters Schedule 4 Environmental Matters Schedule 5 Insurance Schedule 6 Disclosed Timeshare Matters Schedule 7 Subsidiaries Schedule 8 Resorts SCHEDULES EXHIBITS Exhibit A Collection Policy Exhibit B Lost Note Affidavit Exhibit C Schedule of Timeshare Loans Exhibit D Underwriting Guidelines Exhibit E Sale Notice Exhibit F-1 Buyer Commitment Purchase Confirmation Exhibit F-2 Buyer Purchase Confirmation Exhibit G Timeshare Loan Transfer Certificate Exhibit H Monthly Servicer Report Exhibit I Servicer Officer’s Certificate Exhibit J Data Record Layout Exhibit K Certificate of Assignment EXHIBITS AMENDED AND RESTATED LOAN SALE AND SERVICING AGREEMENT This AMENDED AND RESTATED LOAN SALE AND SERVICING AGREEMENT (this “Agreement”), dated as of December 31, 2012 (the “Effective Date”), is by and among DRI QUORUM 2010 LLC, a Delaware limited liability company (the “Seller”), QUORUM FEDERAL CREDIT UNION, a federally chartered credit union (the “Buyer”) and their respective permitted successors and assigns, DIAMOND RESORTS FINANCIAL SERVICES, INC., a Nevada corporation, as servicer (“DFS” or the “Servicer”), and XXXXX FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as back-up servicer (the “Back-Up Servicer”).
Repurchases and Substitutions. 9 Section 3.3 Custody of Timeshare Loan Files.............................11 Section 3.4 Trustee to Obtain Fidelity Insurance........................11 Article IV ADMINISTRATION AND SERVICING OF RECEIVABLES........................11
Repurchases and Substitutions. (a) The Transferor shall not have any obligation to repurchase the Conveyed Collateral. However, the Transferor, may, in its sole discretion and subject to compliance with Section 12.3 of the Indenture, purchase any MSD Collateral Obligations sold by the Transferor to the Issuer pursuant to this Agreement or substitute (in each case with the consent of the Collateral Manager, so long as MSD Partners, L.P. is the Collateral Manager) another MSD Collateral Obligation for, any:
Repurchases and Substitutions 
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