Seller's Optional Termination Sample Clauses

Seller's Optional Termination. The Seller shall have the right, on five (5) Business Days' written notice to the Administrative Agent, at any time following the reduction of the Aggregate Principal Balance hereunder to a level that is less than ten percent (10%) of the Aggregate Principal Balance on the Purchase Date, to repurchase from the Purchaser all, and not part, of the then outstanding Purchased Receivables, together with the Related Security and Collections relating to such Purchased Receivables. The purchase price in respect thereof shall be an amount equal to the Investment outstanding at such time plus all other amounts payable (whether due or accrued) hereunder or under any other Sale Document to the Purchaser or the Administrative Agent at such time. Such repurchase shall be without representation, warranty or recourse of any kind by, on the part of or against the Purchaser or the Administrative Agent.
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Seller's Optional Termination. The Seller shall have the right, on five Business Days' written notice to the Administrative Agent expiring on a Settlement Date, at any time following the reduction of the Aggregate Principal Balance hereunder to a level that is less than ten percent (10%) of the Aggregate Principal Balance on the Purchase Date and is greater than the aggregate of the Investment outstanding after the application of Collections remitted on that Settlement Date and all other amounts payable (whether due or accrued) hereunder or under any other Sale Document, to repurchase from the Purchaser all, and not part, of the then outstanding Purchased Receivables, together with the Related Security and Collections relating to such Purchased Receivables. The purchase price in respect thereof shall be an amount equal to the Aggregate Principal Balance as at the last day of the preceding Settlement Period. The assignment giving effect to such repurchase shall be without representation, warranty or recourse of any kind by, on the part of or against the Purchaser or the Administrative Agent except as to the Purchaser's unencumbered title to the said Purchased Receivables, Related Security and Collections. The Seller shall pay and account for the amount so payable as a Collection with respect to the Purchased Receivables.
Sample 1

Related to Seller's Optional Termination

  • Optional Termination The termination of the Trust Fund created hereunder as a result of the purchase of all of the Mortgage Loans and any REO Property pursuant to the last sentence of Section 10.01 hereof.

  • Buyer’s Termination Right If, prior to Closing and the delivery of possession of the Property to Buyer in accordance with this Contract, (a) any condemnation proceeding shall be pending against a substantial portion of the Hotel or (b) there is any substantial casualty loss or damage to the Hotel, Buyer shall have the option to terminate this Contract, provided Buyer delivers written notice to Seller of its election within twenty (20) days after the date Seller has delivered Buyer written notice of any such loss, damage or condemnation as provided above, and in such event, the Xxxxxxx Money Deposit, and any interest thereon, shall be delivered to Buyer and thereafter, except as expressly set forth herein, no party shall have any further obligation or liability to the other under this Contract. In the context of condemnation, “substantial” shall mean condemnation of such portion of a Hotel (or access thereto) as could, in Buyer’s reasonable judgment, render use of the remainder impractical or unfeasible for the uses herein contemplated, and, in the context of casualty loss or damage, “substantial” shall mean a loss or damage in excess of One Hundred Thousand and No/100 Dollars ($100,000.00) in value.

  • Additional Termination Rights In addition to any right to terminate this Agreement under the provisions of this Section 16, either party shall have the further right to terminate this Agreement, upon delivery of written notice to the Agent, upon the occurrence of any of the following:

  • EFFECT OF OPTIONAL TERMINATION Upon the exercise of the option to terminate pursuant to Section 7.2, this Agreement shall terminate and be of no further force or effect; provided, however, that:

  • Additional Termination Events The following Additional Termination Events will apply:

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.

  • Final Termination Unless terminated at an earlier date by mutual agreement of the parties hereto, this Agreement shall terminate upon the first to occur of the following: (a) the last Serviced Appointment is terminated, matured or expired under the terms of the applicable Serviced Corporate Trust Contract and all Trust Assets in respect thereof have been fully distributed, (b) the last Serviced Appointment is Transferred to the applicable Purchaser, (c) the applicable Seller has resigned from the last Serviced Appointment if permitted under Section 7.2 below or (d) the applicable Seller is removed from appointment or the applicable Seller’s appointment is terminated with respect to the last Serviced Appointment in accordance with this Agreement, the applicable Serviced Corporate Trust Contract or any other agreement between the parties hereto entered into on or prior to the date hereof. Upon termination of this Agreement in accordance with this Section 7.1, each party’s further rights and obligations hereunder, other than the provisions of Section 8 and Section 9, shall terminate and be of no further force and effect and no party shall have any liability hereunder, except that neither the Sellers nor the Purchasers shall be relieved or released from any liabilities or damages arising out of its breach of any provision of this Agreement prior to termination.

  • Additional Termination Event If any "Additional Termination Event" is specified in the Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified for such Additional Termination Event in the Schedule or such Confirmation).

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Term; Termination; Rights on Termination The term of this Agreement shall begin on the date hereof and continue for three (3) years, and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis on the same terms and conditions contained herein in effect as of the time of renewal (such initial three year period and any extensions thereof being referred to herein as the "Term"). This Agreement and Employee's employment may be terminated in any one of the following ways:

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