Repo Agent definition
Examples of Repo Agent in a sentence
Guarantor further agrees that whenever it shall make any payment to Buyer or Repo Agent on account of its liability hereunder, it shall notify Repo Agent in writing that such payment is made under this Guaranty Agreement for such purpose.
If Guarantor becomes liable for any indebtedness owing by Seller to Buyer or Repo Agent, by endorsement or otherwise, other than under this Guaranty Agreement, such liability shall not be in any manner impaired or affected hereby and the rights of Buyer and Repo Agent hereunder shall be cumulative of any and all other rights that Buyer and/or Repo Agent may ever have against Guarantor.
This Guaranty Agreement may be amended only by an instrument in writing executed by G▇▇▇▇▇▇▇▇, B▇▇▇▇ and Repo Agent.
None of Buyer, Repo Agent nor any other Person on Buyer’s or Repo Agent’s behalf has made any representation, warranty or statement to Guarantor in order to induce Guarantor to execute this Guaranty Agreement.
Any renewal, extension, increase, modification, alteration or rearrangement of all or any part of the Repurchase Agreement, the other Program Agreements, or any other document, instrument, contract or understanding between Seller and Buyer and/or Repo Agent, or any other parties, pertaining to the Guaranteed Obligations, or any failure of Buyer, Repo Agent or any Relevant Party to notify Guarantor of any such action.
This Guaranty Agreement may be enforced by B▇▇▇▇, Repo Agent or Repo Agent on B▇▇▇▇’s behalf and any subsequent assignee of Buyer or Repo Agent permitted under the Repurchase Agreement and shall not be discharged by such permitted assignment or negotiation of all or part thereof.
Buyer or Repo Agent, as applicable, shall notify Guarantor promptly after any such set-off and appropriation and application; provided that the failure to give such notice shall not affect the validity of such set-off and appropriation and application.
The rights of Buyer, Repo Agent and each of its respective Affiliates under this Section 7.16 are in addition to other rights and remedies (including other rights of set-off) that Buyer, Repo Agent or such Affiliate may have.
Except as otherwise expressly permitted in the Repurchase Agreement, G▇▇▇▇▇▇▇▇ agrees that it shall not amend (and shall not cause the Depositor to amend), nor permit the amendment of Seller’s Governing Documents without the written consent of Repo Agent.
When pursuing its rights and remedies hereunder against Guarantor, B▇▇▇▇ and Repo Agent may, but shall be under no obligation to, pursue the rights, remedies, powers and privileges as it may have against Seller, any other guarantor or any other Person or against any collateral security or guaranty for the Obligations or any right of offset with respect thereto.