Examples of Breaching Seller in a sentence
Upon discovery by a Seller (the “ Breaching Seller”) or the Purchaser of a breach of either of the representations and warranties set forth in Section 3.4(b) made by the Breaching Seller, which materially and adversely affects the value of any Mortgage Loan (including the value of Prepayment Premiums payable thereunder) sold by such Breaching Seller hereunder or the interests of the Purchaser in such Mortgage Loan, the party discovering such breach shall give prompt written notice to the other.
Within 60 days of the later of (A) the earlier of the date of its discovery of the breach or the date of its receipt of written notice of breach from the Purchaser, and (B) the date on which a Prepayment Premium would have become payable had such representation and warranty been true, the Breaching Seller shall pay to the Purchaser the amount of such Prepayment Premium less any amount collected from the related Mortgagor with respect to such Prepayment Premium.
Within 60 days of the latest of (A) the date of its discovery of the breach, (B) the date of its receipt of written notice of breach from the Purchaser, and (C) the date on which a Prepayment Premium would have become payable had such representation and warranty been true, the Breaching Seller shall pay to the Purchaser the amount of such Prepayment Premium less any amount collected from the related Mortgagor with respect to such Prepayment Premium.
Within 60 days of the later of (A) its discovery of breach or its receipt of written notice of breach from the Purchaser and (B) the date on which a Prepayment Premium would have become payable had such representation and warranty been true, the Breaching Seller shall pay to the Purchaser the amount of such Prepayment Premium (less any amount collected from the related Mortgagor with respect to such Prepayment Premium).
Upon discovery by a Seller (the " Breaching Seller") or the Purchaser of a breach of either of the representations and warranties set forth in Section 3.4(b) made by the Breaching Seller, which materially and adversely affects the value of any Mortgage Loan (including the value of Prepayment Premiums payable thereunder) sold by such Breaching Seller hereunder or the interests of the Purchaser in such Mortgage Loan, the party discovering such breach shall give prompt written notice to the other.
The parties intend and agree that each of the several Sellers shall be liable hereunder only for his or her or its own breach or nonperformance of this Agreement with respect to its own Shares, and no Seller (whether or not a Breaching Seller) shall have any liability hereunder with respect to or as result of the breach or nonperformance of this Agreement by any other Seller or with respect to any Shares held by any other Seller.
Upon discovery by either a Seller (the "Breaching Seller") or Purchaser of a breach of any of the representations and warranties set forth in Section 4.1, the party discovering such breach shall give prompt written notice to the other.
Within 60 days after the earlier of discovery or its receipt of notice of any breach of a representation or warranty set forth in Section 4.1 above relating to a particular Mortgage Loan which materially and adversely affects the value of the Mortgage Loan or Purchaser's interest therein, the Breaching Seller shall cure such breach in all material respects.
In the event that a breach shall involve any representation or warranty set forth in Subsection 7.01 and such breach cannot be cured within 60 days of the earlier of either discovery by or notice to the Breaching Seller of such breach, all of the Mortgage Loans shall, at the Purchaser's option, be repurchased by the Breaching Seller at the Repurchase Price.
Within five (5) Business Days after the Breaching Seller's deposit of the repurchase amount, Purchaser shall cause the Custodian to endorse the applicable Mortgage Notes and assign the applicable Mortgages to the Breaching Seller and promptly deliver such instruments, together with all related Mortgage Loan documents, to the Breaching Seller and shall take all other steps necessary to effect the reconveyance of any repurchased Mortgage Loan to the Breaching Seller.