Sale of Selected Loans. (1) Sales of Loans and their Related Security shall at all times be subject to the rights of pre-emption enjoyed by the Seller pursuant to the terms of the Mortgage Sale Agreement and the rights of the Seller pursuant to the Security Sharing Agreement.
Sale of Selected Loans. 19.1 After service of an Asset Coverage Test Breach Notice (which has not been revoked) on the LLP but prior to service of a Notice to Pay and/or the commencement of winding-up proceedings against the LLP and/or the realisation of the Security, the LLP shall sell Selected Loans in the Portfolio and their Related Security in accordance with Clause 20 below, subject to any right of pre-emption in favour of the Seller pursuant to clause 9 of the Mortgage Sale Agreement and subject to any Cash Capital Contributions made by the Members. The proceeds from any such sale shall be credited to the GIC Account and applied in accordance with Clause 16 above.
Sale of Selected Loans. 11.1 If, (i) following (a) service of an Asset Coverage Test Breach Notice (which has not been revoked), (b) service of a Notice to Pay, (c) a breach of the Pre-Maturity Test, or (d) a Demand Loan Repayment Event or demand for repayment of the Demand Loan by the Seller, or (ii) in the circumstances set forth in Section 7.1(2) of the Guarantor Agreement, the Guarantor is required to, or has determined that it shall, sell Selected Loans in accordance with Article 7 of the Guarantor Agreement, and provided that the Seller is not in default of any of its obligations hereunder or under any other Transaction Document to which it is a party, the Guarantor shall by serving on the Seller a Selected Loan Offer Notice in duplicate substantially in the form set out in Schedule 5, prior to the Guarantor making any offer to sell Selected Loans to other Purchasers, offer immediately to sell to the Seller those Selected Loans in accordance with Schedule 9 of the Guarantor Agreement.
Sale of Selected Loans. If: (i) following service of an Asset Coverage Test Breach Notice (which has not been revoked); (ii) following service of a Notice to Pay; (iii) following a breach of the Pre-Maturity Test; (iv) prior to the service of an Asset Coverage Test Breach Notice or a Notice to Pay, a Demand Loan Repayment Event has occurred or the Issuer has demanded that the Demand Loan be repaid, or (v) in the circumstances described in Section 7.1(2) of the Guarantor Agreement, the Guarantor shall sell Selected Loans in accordance with Schedule 9 to the Guarantor Agreement, and provided that the Seller is not in default of any of its obligations hereunder or under any other Transaction Document to which it is a party, the Guarantor will by serving on the Seller a Selected Loan Offer Notice substantially in the form set out in Schedule 6 (Selected Loan Offer Notice), prior to the Guarantor making any offer to sell Selected Loans to other Purchasers, offer immediately to sell to the Seller those Selected Loans in accordance with Schedule 9 of the Guarantor Agreement.
Sale of Selected Loans. 12.1 If following the service of an Asset Coverage Test Breach Notice (which has not been revoked) or the service of a Notice to Pay, the LLP is required to sell Selected Loans and their Related Security in accordance with Clause 18 (Sale of Selected Loans) of the LLP Deed and prior to the LLP making any offer to sell Selected Loans and their Related Security to Purchasers, the LLP shall offer immediately to sell to the Seller those Selected Loans and their Related Security which the Seller has previously sold to the LLP (or to sell the relevant Selected Loans and their Related Security to such other Seller nominated by that Seller) for an offer price in aggregate equal to the greater of the then aggregate of the True Balance of the Selected Loans and the Adjusted Required Redemption Amount, by serving on the Seller a Selected Loans Offer Notice in duplicate substantially in the form set out in Schedule 15 (Selected Loans Offer Notice).
Sale of Selected Loans. 10.1 If following service of an Asset Coverage Test Breach Notice (which has not been revoked) or service of a Notice to Pay, and prior to the Fund making any offer to sell Selected Loans and their Related Security to Purchasers, the Fund is required to sell the Selected Loans and their Related Security in accordance with Clause 12 of the Fund Deed, the Fund shall offer immediately to sell to the Seller those Selected Loans and their Related Security which the Seller has previously sold to the Fund for an offer price in aggregate equal to:
Sale of Selected Loans. 21 Section 7.1 Sale of Selected Loans. 21
Sale of Selected Loans. 14.1 After service of an Asset Coverage Test Breach Notice (which has not been revoked) on the Fund but prior to service of a Notice to Pay, the Fund shall sell Selected Loans in the Portfolio and their Related Security in accordance with Clause 15 below, subject to any right of pre-emption in favour of the Seller pursuant to Clause 10 of the Mortgage Sale Agreement and subject to any Cash Equity Contributions made by the Holders. The proceeds from any such sale shall be credited to the GIC Account and applied in accordance with Clause 12 above.
Sale of Selected Loans or Making a Payment in Kind After a Demand Loan Repayment Event has Occurred or the Issuer has Otherwise Demanded that the Demand Loan be Repaid If, prior to the service of an Asset Coverage Test Breach Notice or a Notice to Pay, a Demand Loan Repayment Event has occurred or the Issuer has demanded that the Demand Loan be repaid, the Partnership may (a) sell Selected Loans in the Covered Bond Portfolio in accordance with Schedule 9, subject to the rights of pre-emption enjoyed by the Seller to purchase the Selected Loans pursuant to the terms of the Hypothecary Loan Sale Agreement, or (b) make a Payment in Kind in accordance with the terms of the Intercompany Loan Agreement. Any such sale or Payment in Kind will be subject to the condition that the Asset Coverage Test is satisfied after the receipt or deemed receipt of the proceeds of such sale or Payment in Kind and repayment, after giving effect to such repayment.
