Party Purchaser definition
Examples of Party Purchaser in a sentence
The notice must state the name of the party (the "Third Party Purchaser") to whom the Seller wishes to sell or transfer the Offered Units and the terms of the proposed sale or transfer.
Under Regulation RR, any Third Party Purchaser is prohibited from being Risk Retention Affiliated with, among other persons, the Master Servicer, the Trustee, the Certificate Administrator, the Operating Advisor or the Asset Representations Reviewer.
Neither the Trustee nor the Certificate Administrator shall be the Third Party Purchaser or a Risk Retention Affiliate of the Third Party Purchaser.
If the other Owners do not validly exercise their option to buy all of the Offered Units within the 30-day period, then the Seller may complete the sale or transfer to the Third Party Purchaser.
Further, the Third Party Purchaser must agree in writing to be bound by the terms of this Agreement before or at the time of the sale or transfer.
If the sale or transfer to the Third Party Purchaser is not completed within sixty (60) days after the expiration of the other Owners' 30-day option period, then the authorization under this Agreement for such sale or transfer shall be deemed withdrawn as if no such sale or transfer had been contemplated and no notice had been given.
In the event of any such transfer, Tenant shall attorn to any Third Party Purchaser as Landlord so long as such Third Party Purchaser and Landlord notify Tenant in writing of such transfer.
The Class E, Class F and Class G Certificates that the Third Party Purchaser is purchasing are referred to in this Agreement as the “HRR Interest”.
On the Closing Date, the Third Party Purchaser is purchasing from the Initial Purchasers for cash the Class E, Class F and Class G Certificates.
In addition, the Master Servicer shall terminate any rights the Primary Servicer may have hereunder with respect to the Mortgage Loans if at any time the Primary Servicer is an “affiliate” (as defined in the Risk Retention Rule) of the Third Party Purchaser and the Primary Servicer is a servicer as contemplated by Item 1108(a)(2) of Regulation AB pursuant to Section 3.20 of the Pooling and Servicing Agreement.