CAC Loans definition
Examples of CAC Loans in a sentence
The CAC Loans evidenced by the Contracts Sold Hereunder shall be designated on Schedule 1 to this Agreement.
The Revolving Borrowers will only incur Revolving Facility Loans on the Closing Date to repay outstanding Indebtedness permitted to be outstanding pursuant to clause (vii) under the heading "Conditions" in the Offer Document and not repaid with cash on hand or repaid (or to be repaid) with the proceeds of CAC Loans (to the extent CAC Loans may be made to effect Refinancings).
Section 5.2 On a date to be selected by CAC and consented to by Green Tree, which consent shall not be unreasonably withheld, within eighteen (18) months of the date of this Agreement, Green Tree agrees to purchase the balance of the CAC Loan portfolio acquired by CAC prior to 1996 on the same terms and conditions set forth in the MLPA, excluding Carved-Out CAC Loans.
Green Tree agrees to purchase the Available CAC Loans from CAC on a weekly basis.
Section 3.5 Green Tree agrees to use its reasonable efforts to establish, prior to August 1, 1998, an electronic system by which prospective CAC Loans submitted to Green Tree for approval shall be scored through the Green Tree credit scoring system (the "Electronic Pipeline").
CAC and Green Tree agree that the covenants and promises provided for in Section 4.10 and 4.11 of the Finance Agreement, pertaining to Transferred CAC Loans, shall apply similarly to the Contracts Sold Hereunder.
The CAC Loans purchased by Green Tree shall be CAC Loans purchased and made in 1996, 1997 and 1998 (prior to the Effective Date) subject to the foregoing exclusions.
Section 3.3 Green Tree and CAC agree that from the Effective Date until the Electronic Pipeline contemplated by Section 3.5 is established and fully functional (the "Conversion Date") and thereafter as provided by Section 3.5, the underwriting guidelines applicable to CAC Loans shall be those attached hereto as Exhibit A or such other guidelines as the parties hereto may agree in writing (the "Initial Underwriting Guidelines").
Green Tree agrees to remit to CAC the specified remittance amount by wire or ACH transfer in immediately available funds to the account designated by CAC within one business day of receipt of the package of Available CAC Loans and related "remittance statement" and any late payment shall bear interest at the interest rates provided for in the respective related Manufactured Housing Retail Installment Contracts.
CAC agrees to package the Available CAC Loans for delivery to the address specified by Green Tree, in writing by a reputable overnight courier each Friday (or if not a business day, the next succeeding business day) together with a remittance computation reflecting the outstanding principal balance of such Available CAC Loans and the amount, including Acquisition Premium, insurance commission, Origination Fee, Yield Differential and any other relevant fees, to be remitted to CAC.