Asset Provider definition
Examples of Asset Provider in a sentence
It is understood and agreed that the obligation of the Term Asset Provider to repurchase or substitute for any Term Asset as to which a constituent document is missing or a defect in a constituent document exists shall, if such defect is not cured or such missing document is not provided, constitute (unless otherwise specified in the applicable Series Supplement) the sole remedy respecting such omission or defect available to the Certificateholders or the Trustee on behalf of the Certificateholders.
It is further understood and agreed that, unless otherwise provided in the related Series Supplement, in no event shall either the Depositor or the Administrative Agent, if any, be obligated to repurchase or substitute for such a Term Asset, regardless of whether the Term Asset Provider defaults on its obligation to repurchase or substitute for such a Term Asset.
In addition, upon the discovery by the Depositor, the Administrative Agent, if any, or the Trustee of a breach of any of the representations and warranties made by any Term Asset Provider in the related Term Asset Purchase Agreement, if any, in respect of any Term Asset that materially and adversely affects the interests of the Certificateholders, the party discovering such breach shall give prompt written notice to the other parties hereto (but in any event within 10 Business Days).
It is further understood and agreed that, unless otherwise provided in the related Series Supplement, in no event shall either the Depositor or the Administrative Agent, if any, be obligated to repurchase or substitute for such a Deposited Asset, regardless of whether the Deposited Asset Provider defaults on its obligation to repurchase or substitute for such a Deposited Asset.
The entity serving as the Trust Administrator may be the Trustee, the Depositor, [Commerzbank Capital Markets Corp.], an affiliate of any of them, the Deposited Asset Provider or any third party and may have other normal business relationships with the trustee, Comcertz ABS Corporation, their affiliates or the Deposited Asset Provider.
If and to the extent specified in the applicable prospectus supplement and the Terms Schedule attached hereto, the Deposited Asset Provider cannot cure such omission or defect within 60 days after receipt of notice, the Deposited Asset Provider will be obligated, within 90 days of receipt of notice, to repurchase the related Deposited Asset from the trustee at the Purchase Price (as defined below) or provide a substitute for the Deposited Asset.
The Trust Administrator, if any, or otherwise the trustee is obligated to use its best efforts to enforce such obligation, provided, however, that, neither such Trust Administrator nor Depositor will be obligated to repurchase or substitute for such Deposited Asset if the Deposited Asset Provider defaults on its obligation.
In addition, upon the discovery by the Depositor, the Administrative Agent, if any, or the Trustee of a breach of any of the representations and warranties made by any Deposited Asset Provider in the related Deposited Asset Purchase Agreement, if any, in respect of any Deposited Asset that materially and adversely affects the interests of the Certificateholders, the party discovering such breach shall give prompt written notice to the other parties hereto (but in any event within 10 Business Days).
In addition, upon the discovery by the Depositor, the Administrative Agent, if any, or the Trustee of a breach of any of the representations and warranties made by any Deposited Asset Provider in the related Deposited Asset Purchase Agreement, if any, in respect of any Underlying Security that materially and adversely affects the interests of the Certificateholders, the party discovering such breach shall give prompt written notice to the other parties hereto (but in any event within 10 Business Days).
The work program will be reviewed by the WTPB and TTAG, distributed for public review consistent with the WCOG Public Participation Plan, and approved by the WCOG Board.