Common use of TERMINABILITY Clause in Contracts

TERMINABILITY. This Repurchase Agreement may be canceled by either party upon giving written notice to the other except that this Repurchase Agreement shall, notwithstanding such notice, remain applicable to any Transaction then outstanding. Each representation and warranty made or deemed to be made by entering into a Transaction, herein or pursuant hereto shall survive the making of such representation and warranty, and the Buyer shall not be deemed to have waived any Default that may arise because any such representation or warranty shall have proved to be false or misleading, notwithstanding that the Buyer may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time the Transaction was made. Notwithstanding any such termination or the occurrence of an Event of Default, all of the representations and warranties and covenants hereunder shall continue and survive. The obligations of the Sellers under Section 15 hereof shall survive the termination of this Repurchase Agreement.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Fieldstone Investment Corp), Master Repurchase Agreement (MortgageIT Holdings, Inc.)

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TERMINABILITY. This Repurchase Agreement may be canceled by either party upon giving written notice to the other except that this Repurchase Agreement shall, notwithstanding such notice, remain applicable to any Transaction then outstanding. Each representation and warranty made or deemed to be made by entering into a Transaction, herein or pursuant hereto shall survive the making of such representation and warranty, and the Buyer shall not be deemed to have waived any Default that may arise because any such representation or warranty shall have proved to be false or misleading, notwithstanding that the Buyer may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time the Transaction was made. Notwithstanding any such termination or the occurrence of an Event of Default, all of the representations and warranties and covenants hereunder shall continue and survive. The obligations of the Sellers Seller under Section 15 14 hereof shall survive the termination of this Repurchase Agreement.

Appears in 1 contract

Samples: Master Repurchase Agreement (Starnet Financial Inc)

TERMINABILITY. This Repurchase Except as set forth below, this Agreement may be canceled terminated by either party Seller upon giving 30 days written notice to Buyer, or by Buyer immediately upon giving written notice to the other Seller except that this Repurchase Agreement shall, notwithstanding such notice, remain applicable to any Transaction then outstanding. Each representation and warranty made or deemed to be made by entering into a Transaction, herein or pursuant hereto shall survive the making of such representation and warranty, and the Buyer shall not be deemed to have waived any Default that may arise because any such representation or warranty shall have proved to be false or misleading, notwithstanding that the Buyer may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time the Transaction was made. Notwithstanding any such termination or the occurrence of an Event of Default, all of the representations and warranties and covenants hereunder shall continue and survive. The obligations of the Sellers Seller under Section 15 hereof shall survive the termination of this Repurchase Agreement.

Appears in 1 contract

Samples: Master Repurchase Agreement (Rait Investment Trust)

TERMINABILITY. This Repurchase Except as set forth below, this Agreement may be canceled terminated by either party Seller upon giving thirty (30) days written notice to Buyer and, upon such termination, the other except that this Repurchase Agreement shall, notwithstanding Date for each outstanding Transaction shall be the Facility Termination Date specified in such notice, remain applicable to any Transaction then outstanding. Each representation and warranty made or deemed to be made by entering into a Transaction, herein or pursuant hereto shall survive the making of such representation and warranty, and the Buyer shall not be deemed to have waived any Default default that may arise because any such representation or warranty shall have proved to be false or misleading, notwithstanding that the Buyer may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time the Transaction was made. Notwithstanding any such termination or the occurrence and continuance of an Event of Default, all of the representations and warranties and covenants hereunder shall continue and survive. The obligations of the Sellers Seller under Section 15 hereof 13.01 shall survive the termination of this Repurchase Agreement.

Appears in 1 contract

Samples: Master Repurchase Agreement (Winston Hotels Inc)

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TERMINABILITY. This Repurchase Agreement may be canceled shall continue in effect until terminated as to future transactions by either party upon giving written notice instruction signed by Buyer and delivered to Sellers, provided that no termination will affect the other except that this Repurchase Agreement shall, notwithstanding such notice, remain applicable obligations hereunder as to any Transaction then outstandingoutstanding Transaction. Each representation and warranty made or deemed to be made by entering into a Transaction, herein or pursuant hereto shall survive the making of such representation and warranty, and the Buyer shall not be deemed to have waived any Default that may arise because any such representation or warranty shall have proved to be false or misleading, notwithstanding that the Buyer may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time the Transaction was made. Notwithstanding any such termination or the occurrence of an Event of Default, all of the representations and warranties and covenants hereunder shall continue and survive. The obligations of the Sellers under Section 15 hereof 11.01 shall survive the termination of this Repurchase Agreement.

Appears in 1 contract

Samples: Master Repurchase Agreement (Impac Mortgage Holdings Inc)

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