Early Payment Default definition

Early Payment Default means any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (or such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Early Payment Default means any provision of the Sale Agreement or any related agreement to which NatCity and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Early Payment Default means a Loan that becomes sixty (60) days delinquent within the first one hundred and twenty (120) days after consummation or within such other time periods as may be set forth in the Guides.

Examples of Early Payment Default in a sentence

• If the Issuer effectively gives a valid notice to the Trustee pursuant to this Condition 7(e) of the occurrence of a Partial Collateral Call, a Collateral Call and/or a Collateral Early Payment Default, as the case may be, the Trustee shall be entitled to rely on such notice without further investigation.

• For the avoidance of doubt, the Trustee shall not be required to monitor whether any Partial Collateral Call, Collateral Call or Collateral Early Payment Default has occurred and shall have no obligation, responsibility or liability for giving or not giving any notice thereof to the Issuer.

• The date on which such Adjusted Collateral Call Early Redemption Notice is deemed to have been given in respect of a Collateral Early Payment Default shall be an “Early Redemption Trigger Date”.

• For purposes of this Section, "Early Payment Default" shall mean any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (or such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

• For purposes of this Section, "Early Payment Default" shall mean any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

More Definitions of Early Payment Default

Early Payment Default means any provision of the Servicing Agreement or any related agreement to which the Servicer and Assignor are parties that is designated as an “early payment default” provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Early Payment Default. As defined in the applicable Mortgage Loan Purchase Agreement or any like term, definition or provision thereunder relating to the Originator’s obligation to repurchase a related Mortgage Loan in accordance with the terms of such Mortgage Loan Purchase Agreement that becomes delinquent or defaults after the sale to the Seller of such Mortgage Loan.

Early Payment Default means a loan for which any of the first four (4) payments due after purchase of the loan by Arc Home becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc Home or its affiliates.

Early Payment Default or “EPD” means a loan for which any of the first four (4) payments due after purchase of the Loan by Arc becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc or its affiliates. "Expiration Date" with respect to any Locked Loan or Mandatory Commitment is that date which the applicable loan file(s) must be received by Arc complete and in purchasable form for the Purchase Price Percentage to be honored.

Early Payment Default means any provision of the Servicing Agreement or any related agreement to which Xxxxx Fargo and Assignor are parties that is designated as an “early payment default” provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Early Payment Default means either a Borrower has missed one or more payments under a Mortgage Loan and has not brought said delinquency current prior to the Purchase of the Mortgage Loan by the Servicer, or one of the first three payments due to the Servicer have not been made by the Borrower, in either case which directly results in the Mortgage Loan being ineligible for delivery into a GNMA Security, Xxxxxx Mae Security or Xxxxxxx Mac Security, or the Borrower defaults on the Mortgage Loan by having 3 delinquent payments, one of those payments from the first three payment due to the Servicer, resulting in 90 days delinquency and the Mortgage Loan has been serviced by the Servicer for less than seven months.

Early Payment Default. With respect to the Mortgage Loan purchased under any Purchase Agreement, the failure of the related Mortgagor to make the first two Scheduled Payments due the Owner within thirty (30) days of each Due Date, or such other provision as specified by the Owner to the Servicer. Eligible Investments: Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than one day prior to the Remittance Date in each month (or such other date as permitted under this Agreement):