Required Repurchase Sample Clauses

Required Repurchase. The purchase by the Company on the Amendment Effective Date of a portion of the Subordinated Notes from the holders thereof so long as (a) the total cumulative amount of the consideration paid for such purchase (such consideration to be inclusive of all accrued and unpaid interest on such Subordinated Notes) does not exceed, in the aggregate, (i) $11,548,875 (which amount represents that portion of the purchase price attributable to the principal amount of the Subordinated Notes being repurchased) plus (ii) $872,702 plus (iii) the amount of accrued and unpaid interest on the Subordinated Notes so repurchased through the Amendment Effective Date, (which amount is equal to $1,260,221) minus (iv) $913,424, with the Company repurchasing Subordinated Notes having a principal face amount of not less than $36,175,000, (b) the Subordinated Notes so purchased are immediately on the date of such purchase cancelled by the Company, (c) the purchase price paid by the Company to the holders of such Subordinated Notes is equal to or less than thirty six percent (36%) of the sum of the principal amount of the Subordinated Notes being purchased, plus accrued and unpaid interest on such Subordinated Notes and (d) the Company finances such purchase with the proceeds of a Required Repurchase Subdebt Funding Loan.

Required Repurchase. With respect to any Approved Receivables initially purchased by Agent, for the benefit of the Lenders, Agent may require Borrower to repurchase all or any portion of such Approved Receivables from any particular Customer if any minimum payment due on one or more of such Approved Receivables remains unpaid following ninety (90) days after its invoice date. With respect to any Approved Receivables purchased after the Agent's initial purchase, Agent may require Borrower to repurchase all or any portion of such Approved Receivables from any particular Customer if any minimum payment due on one or more of such Approved Receivables remains unpaid following ninety (90) days after its invoice date. For purposes of this Agreement, the aging status of Approved Receivables purchased from Borrower, as shown on the aging report of Approved Receivables produced or generated by Agent, will be deemed conclusive (absent manifest error) in determining which Approved Receivables Agent may require Borrower to repurchase. Regardless of when purchased, Agent may require Borrower to repurchase all or any portion of such Approved Receivables from any particular Customer if such Customer is bankrupt or insolvent, or if any dispute arises with a Customer regarding such Approved Receivables (including, but not limited to, any alleged deduction, defense, offset or counterclaim). Agent may require Borrower to repurchase any or all outstanding Approved Receivables (a) upon a Default or Event of Default, or (b) upon the termination of this Agreement. Any decision by the Lender to require repurchase of less than the maximum amount permitted by this Agreement will not be deemed a waiver of Agent’s rights to require such repurchase to the maximum extent permitted in this Agreement.

Required Repurchase. The Participant, in its sole discretion, may require the Mortgage Originator to repurchase a Participation, in accordance with Section 2(d) above, (i) if any Mortgage Loan underlying a Participation becomes more than thirty (30) days delinquent, (ii) if ally representation or warranty pertaining to a Mortgage Loan is Untrue, (iii) if any legal action is initiated or threatened which, if successful, would in any way impair the value Of Participant's interest in the Participation, as determined by the Participant in its sole judgment, or (iv) if a Participation has been outstanding for a period of more than ninety (90) days. In the event that Participant requires Mortgage Originator to repurchase a Participation, the Repurchase Amount Must be received by Participant within ten (10) days after Participant sends notice to Mortgage Originator.

Required Repurchase. Upon the occurrence of a Change of Control, the Company shall make a Change of Control Offer in accordance with Sections 3.11 and 3.13 of the Second Lien Indenture. In connection with certain Asset Sales, the Company shall make an Asset Sale Offer as and when provided in accordance with Section 4.07 of the Second Lien Indenture.