QFCA definition
Examples of QFCA in a sentence
With respect to each Failed Consent Asset that Purchasers elect to cause to be a Qualifying Failed Consent Asset, on the Initial Closing Date Purchasers shall pay to Sellers the related QFCA Security.
If Purchasers request Sellers to accept Agency Bonds as the QFCA Security in the manner set forth herein, then Purchasers shall be responsible for any decrease in value of such Agency Bonds, and not later than five (5) days after Purchasers’ receipt of Notice from Sellers (from time to time) that the value of the Agency Bonds has decreased by more than ten percent (10%), Purchasers shall pay to Sellers the amount of such decrease.
The QFCA Security shall be collateral for Purchasers’ obligation to acquire the related Qualifying Failed Consent Asset.
The QFCA Security shall be paid by wire transfer of immediately available federal funds; provided, however, Sellers agree, at Purchasers’ request, to accept in lieu of cash, Agency Bonds with a value equal to the amount of the applicable QFCA Security, provided any such Agency Bonds will have maturities shorter than or equal to one (1) year.
At the Closing of any Qualifying Failed Consent Asset, the applicable QFCA Security shall be transferred to Purchasers or Purchasers’ designee and Purchasers shall deliver to Sellers the Individual Asset Purchase Price for such Qualifying Failed Consent Asset.
If the parties do not receive the related Seller Required Consents on or before 5:00 pm (New York time) on August 1, 2011, or if Sellers and Purchasers mutually agree in writing at any time prior to such time that further attempts to obtain the missing Seller Required Consents would be futile, then, in either such case, Sellers shall return the QFCA Security to Purchasers, and the applicable Failed Condition Asset shall be deleted from the transactions contemplated in this Agreement.