Substitution of Collateral Loans Sample Clauses

Substitution of Collateral Loans. On any day following the Warehouse Closing Date and prior to the occurrence of an Event of Default (and thereafter with the prior written consent of the Administrative Agent) and so long as the Buyer is permitted to do so pursuant to Section 10.1(a)(vii) of the Credit Agreement, the Seller may, subject to the conditions set forth in Section 10.1(a)(vii) of the Credit Agreement and in this Section 6.01, optionally substitute any Collateral Loan that is a Credit Risk Loan or Defaulted Loan, with one or more other Collateral Loans, provided that no such replacement shall occur unless each of the following conditions is satisfied as of the date of such replacement and substitution:
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Substitution of Collateral Loans. (a) The Seller shall have the right, but not the obligation, subject to the prior written consent of the Administrative Agent and the Purchaser, in their sole discretion, to substitute one or more Collateral Loans (“Substitute Eligible Collateral Loan”) for a Collateral Loan (each such act, a “Substitution”).
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Substitution of Collateral Loans. 97 Section 10.04. Conditions Applicable to All Sale and Purchase Transactions 98 ARTICLE XI THE AGENTS 98 Section 11.01. Authorization and Action 98 Section 11.02. Delegation of Duties 100 Section 11.03. Agents’ Reliance, Etc. 100 Section 11.04. Indemnification; Rights 102 Section 11.05. Successor Agents 102 Section 11.06. Merger, Conversion, Consolidation or Succession to Business of Agents 102 Section 11.07. Erroneous Payments 102 ARTICLE XII MISCELLANEOUS 105 Section 12.01. No Waiver; Modifications in Writing 105 Section 12.02. Notices, Etc. 105 Section 12.03. Taxes 106 Section 12.04. Costs and Expenses; Indemnification 109 Section 12.05. Execution in Counterparts 110 Section 12.06. Assignability 110 Section 12.07. Governing Law 113 Section 12.08. Severability of Provisions 113 Section 12.09. Confidentiality 113 Section 12.10. Merger 114 Section 12.11. Survival 114 Section 12.12. Submission to Jurisdiction; Waivers; Etc. 114 Section 12.13. IMPORTANT WAIVERS 115 Section 12.14. Customer Identification Notice 116 Section 12.15. Legal Holidays 116 Section 12.16. Non-Petition 116 Section 12.17. Waiver of Setoff 116
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Substitution of Collateral Loans. 99 Section 10.04. Conditions Applicable to All Sale and Purchase Transactions 99
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Substitution of Collateral Loans 
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Related to Substitution of Collateral Loans

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • SALE/PURCHASE OF ADDITIONAL LOANS AND SUBSTITUTION OF SUBSTITUTED LOANS (A) Requirements Relating to Additional Loans From time to time during the Supplemental Purchase Period, SLM ECFC may, but shall not be obligated to, sell Eligible Loans to Funding, and Funding may (but only to the extent that the Eligible Loans are contemporaneously sold to the Eligible Lender Trustee on behalf of the Trust in accordance with the Sale Agreement and the related Additional Sale Agreement) purchase such Additional Loans from SLM ECFC at the related Additional Loans Purchase Price set forth in the related Additional Purchase Agreement. In addition, at any time, SLM ECFC may transfer Substituted Loans to Funding in satisfaction of any Loan repurchase obligations hereunder. The sale and purchase (or substitution) of Additional Loans (or Substituted Loans) pursuant to an Additional Purchase Agreement shall be consummated as set forth in this Section 3.2.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Collateral pledged by any Grantor shall be applied by the Administrative Agent as set forth in Section 7.6 of the Credit Agreement.

  • Location of Collateral All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Borrowers at the business locations set forth in Schedule 8.6.1, except that Borrowers may (a) make sales or other dispositions of Collateral in accordance with Section 10.2.6; and (b) move Collateral to another location in the United States, upon 30 Business Days prior written notice to Agent.

  • Valuation of Collateral Securities Intermediary shall provide view only access to its systems to Secured Party for the purpose of communicating data as to the Reserve Account as of that date.

  • Application of Collateral Proceeds The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured Party after, the occurrence of an Event of Default) shall be paid to and applied as follows:

  • Types of Collateral None of the Collateral consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or standing timber.

  • Condition of Collateral Secured Party has no obligation to repair, clean-up or otherwise prepare the Collateral for sale.

  • Optional Preservation of Collateral If the Notes have been accelerated under Section 5.2(a) and the declaration of acceleration has not been rescinded, the Indenture Trustee may elect to maintain possession of the Collateral. The Indenture Trustee will take into account that the Collections and other amounts expected to be received on the Collateral must be sufficient to pay the unpaid principal of and accrued and unpaid interest on the Notes when determining whether or not to maintain possession of part of the Collateral. In making this determination, the Indenture Trustee may rely on an opinion of a nationally-recognized Independent investment banking firm or firm of certified public accountants.

  • OPTIONAL SUBSTITUTION OF MORTGAGE LOANS During the three-month period beginning on the Startup Date, the Seller shall have the right, but not the obligation, in its sole discretion for any reason, to substitute for any Mortgage Loan a Substitute Mortgage Loan meeting the requirements of Section 2.02. Any such substitution shall be carried out in the manner described in Section 2.02. The Substitution Principal Amount, if any, plus accrued interest thereon and the other amounts referred to in Section 2.02, shall be deposited in the Certificate Account.

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