Eligible Repurchase Obligations definition
Eligible Repurchase Obligations. Repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or trust company (acting as principal) described in clause (b) of the definition of Permitted Investments.
Eligible Repurchase Obligations means repurchase obligations with respect to Student Loans serviced by the Servicer or an Affiliate thereof, entered into with an Eligible Repo Counterparty, provided that the applicable repurchase date shall occur no later than the Business Day prior to the next Distribution Date.
Eligible Repurchase Obligations means repurchase obligations with respect to Student Loans serviced by the Servicer or an Affiliate thereof, entered into with an Eligible Repo Counterparty, provided that the applicable repurchase date shall occur no later than the Business Day prior to the next Quarterly Distribution Date.
More Definitions of Eligible Repurchase Obligations
Eligible Repurchase Obligations. Repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or trust company (acting as principal) described in clause (b) of the definition of Permitted Investments. “Equity Cure Notice”: A written notice and certification from the BorrowerBorrowers to the Administrative Agent which satisfies each of the following conditions: (a) such notice and certification is delivered to the Administrative Agent not later than three (3) Business Days after the earlier of (x) the date on which theany Borrower, the Collateral Manager, or any officer thereof acquires actual knowledge of, or (y) the date on which theany Borrower receives notice from the Administrative Agent of, in either case, (i) the occurrence of a Borrowing Base Deficiency or (ii) a failure of the requirement set forth in Section 5.2(n); and (b) such notice and certification certifies that (i) the Transferor has made a capital call on its investors in an aggregate amount sufficient to cure such event and the proceeds of such capital call will be contributed to thea Borrower or (ii) the Transferor has made other arrangements acceptable to the Administrative Agent in its sole discretion to cure such event within the timeframe for such cure required hereunder (together with evidence satisfactory to the Administrative Agent (in its sole discretion)). “Equity Security”:
Eligible Repurchase Obligations means repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or trust company (acting as principal) with a rating of (a) in the case of S&P, “A-1” and (b) in the case of Moody’s, “P-1”.