Putback definition
Examples of Putback in a sentence
Except to the extent of Buyer’s or its affiliates’ negligence or willful misconduct, Seller agrees to indemnify and hold Buyer harmless for any and all liabilities of Buyer or any of its affiliates arising out of or in connection with such Putback Loans either prior to, or from and after, the Closing Date, including all Taxes, which obligations and liabilities shall be Retained Liabilities for purposes of this Agreement.
If Buyer must bring suit to specifically enforce Seller’s obligation under this Section 5.13 to purchase the Putback Loans, Buyer shall be entitled to recover from Seller its reasonable costs and expenses (including reasonable attorneys’ fees) related thereto.
Subject to the Buyer’s Putback Loan rights set forth in Section 5.13 and the indemnification rights provided in Article IX, the Final Balance Sheet shall become final and binding on Buyer and Seller ten (10) Business Days after its delivery to Buyer, unless Buyer gives written notice to Seller of its disagreement with respect to any item included in such statement provided such item was not previously reflected in substantially the same manner in the Preliminary Balance Sheet.
Upon five (5) Business Days’ prior written notice to the Trustees and the Servicer, the Administrator in accordance with Section 9.01 of the Servicing Agreement may direct the Certificate Trustee to immediately transfer one or more Assets that are the subject of any Putback Litigation or any reacquisition of an Asset pursuant to Section 2.01 or Section 3.03 of the Transfer and Assignment Agreement.
To the extent that original documents are not required for purposes of realization of Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds, REO Disposition Proceeds or Putback Litigation Proceeds, documents maintained by the Servicer may be in the form of microfilm or microfiche or such other reliable means of recreating original documents, including but not limited to, optical imagery techniques so long as the Servicer complies with Accepted Servicing Practices, as amended from time to time.
To the extent that any costs or expenses that would constitute Putback Losses under this Section 11.01(b) are taken into account in calculating the pre-tax Net Cash Flow of the Money Centre Division pursuant to Section 2.01 hereof, such costs or expenses shall not constitute Putback Losses for which Buyer is entitled to indemnification under this Section 11.01(b).
Notwithstanding the foregoing, the rights to pursue any Putback Litigation shall remain with the Seller in accordance with the provisions of Section 2.01 of the Agreement.
Subject to Buyer’s Putback Loan Rights set forth in Section 4.14 and the indemnification rights provided in Article VIII, the Final Balance Sheet shall become final and binding on Buyer and Seller ten (10) Business Days after its delivery to Buyer, unless Buyer gives written notice to Seller of its disagreement with respect to any item included in such statement provided such item was not previously reflected in substantially the same manner in the Preliminary Balance Sheet.
If Buyer must bring suit to specifically enforce Seller’s obligation under this Section 4.14 to purchase the Putback Loans, Buyer shall be entitled to recover from Seller its reasonable costs and expenses (including reasonable attorneys’ fees) related thereto.
To the extent that Buyer is indemnified for any costs or expenses related to Putback Losses (hereinafter defined) pursuant to Section 4.01 hereof, such costs or expenses shall not be taken into account in calculating the pre-tax Net Cash Flow of the Money Centre Division for purposes of this Section 2.01.