Purchased Asset definition

Purchased Asset means (i) with respect to any Transaction, the Eligible Asset sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Assets sold by Seller to Buyer (other than Purchased Assets that have been repurchased by Seller).

Purchased Asset means (a) with respect to any Transaction, the Eligible Asset sold by Seller to Purchaser in such Transaction and (b) with respect to the Transactions in general, all Eligible Assets sold by Seller to Purchaser (other than Purchased Assets that have been repurchased by Seller). Any Purchased Asset that is repurchased by Seller in accordance with this Agreement shall cease to be a Purchased Asset. Unless otherwise specified, any reference to a Purchased Asset which is a Mortgage Loan shall include the Mortgage Loan and any related Mezzanine Loan, if any, that is subject to the same Transaction.

Purchased Asset means a Receivable purchased as of the close of business on the last day of a Collection Period by or on behalf of the Servicer pursuant to Section 4.07 of the Sale and Servicing Agreement or by or on behalf of the Seller pursuant to Section 3.03 of the Sale and Servicing Agreement.

Examples of Purchased Asset in a sentence

• Accordingly, Purchaser accepts the Purchased Asset “AS IS,” “WHERE IS,” and “WITH ALL FAULTS” and without representation, warranty or guarantee that such Purchased Asset is in good standing under applicable law or may be assigned or transferred pursuant to applicable law.

• The asset included in this Purchase Agreement consists only of the Purchased Asset.

• So long as no Event of Default has occurred and is continuing and solely for the determination of Market Value of any Purchased Asset in accordance with Section 4.01, Seller may provide Buyer with a notice to contest Buyer’s determination of the Market Value of any Purchased Asset (a “MV Disputed Asset”) as of any date of determination, and such MV Disputed Asset’s Market Value shall be deemed to equal the Third Party Market Value of such MV Disputed Asset.

• If a Purchased Asset becomes evidenced by an instrument or chattel paper, the same shall be immediately delivered to Custodian on behalf of Buyer, together with endorsements required by Buyer.

• Seller shall repurchase any Purchased Asset that no longer qualifies as an Eligible Asset, (1) if Buyer delivers notice thereof before 11:00 a.m. New York City time on a Business Day, no later than 5:00 p.m. New York City time on the following Business Day or (2) if Buyer delivers notice thereof after 11:00 a.m. New York City time on a Business Day, no later than 5:00 p.m. New York City time two (2) Business Days following the date of such notice.

More Definitions of Purchased Asset

Purchased Asset means (a) with respect to any Transaction, the Eligible Asset, and any related rights, interests or claims of any kind with respect to such Eligible Asset sold by Seller to Buyer in such Transaction and (b) with respect to the Transactions in general, all Eligible Assets sold by Seller to Buyer (other than Purchased Assets that have been repurchased by Seller), in the case of each of sub-clauses (a) and (b) above, including to the extent related to the Purchased Assets, all of Seller’s right, title and interest in and to, (i) the Purchased Asset Documents, (ii) the Servicing Rights, (iii) the Servicing Agreement, (iv) the Servicing Records, (v) mortgage guaranties, mortgage insurance, insurance policies, insurance certificates, insurance claims, insurance proceeds, collection and escrow accounts, letters of credit, forward trades and take out commitments, (vi) the principal balances of the Purchased Assets, not just the amount advanced by Buyer to Seller in respect of the Purchase Price of such Purchased Asset, (vii) Income, (viii) indemnities, warranties or other credit support or enhancement, (ix) all related pledged collateral and (x) all supporting obligations of any kind. Any Purchased Asset that is repurchased by Seller in accordance with this Agreement shall cease to be a Purchased Asset.

Purchased Asset means the Commercial Mortgage Loans (or other Eligible Assets), together with the related Repurchase Assets transferred by Seller to Buyer in a Transaction hereunder, listed on the related Asset Schedule attached to the related Transaction Request and Confirmation.

Purchased Asset shall have the meaning ascribed to such term in the Purchase Agreement.

Purchased Asset means a Deposited Asset purchased by Fxxxxxx Mac on behalf of the Sponsor from monies paid by Fxxxxxx Mac pursuant to the Credit Enhancement following the occurrence of a Release Event.

Purchased Asset means (i) with respect to any Transaction, the Eligible Assets sold by Seller to Administrative Agent, on behalf of Buyers, in such Transaction and (ii) with respect to the Transactions in general, all Eligible Assets sold by Seller to Administrative Agent, on behalf of Buyers.

Purchased Asset means the Participation Interests transferred by Seller to Buyer in a Transaction hereunder, as evidenced by a Confirmation and/or a Trust Receipt and not subsequently repurchased.

Purchased Asset means any Purchased Receivable or Purchased Participation Interest.