Conveyance Date definition
Examples of Conveyance Date in a sentence
On each applicable Conveyance Date, the Purchaser agrees to acquire the Loan Assets set forth on Schedule A and the Related Security from the Seller and the Seller agrees to Convey such Loan Assets and Related Security to the Purchaser for the applicable Purchase Prices set forth on Schedule A.
The information contained in Schedule A is true, correct and complete in all material respects as of each such Conveyance Date.
As of the applicable Conveyance Date, each Loan Asset was an Eligible Collateral Obligation.
With respect to each transfer of a Transferred Asset on any Conveyance Date, (i) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the rights and obligations of a lender thereunder, and (ii) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset.
The Seller shall promptly, but in no event later than two (2) Business Days, remit to the Purchaser or the Purchaser’s designee any payment or any other sums relating to, or otherwise payable on account of, the Transferred Assets (other than Excluded Amounts) that the Seller receives after the applicable Conveyance Date.