Repossession Notice definition
Examples of Repossession Notice in a sentence
When a Post Repossession Notice is generated on an account, the account may be partially charged-off on the date that the notice legally expires.
Upon confirmation that a Home securing any such defaulted PA 5 Note has been repossessed, 21st will provide written notice to EAST\43915120.4 UMH of the Repossession (the "Repossession Notice") and demand the purchase price amount, calculated by multiplying the applicable buyback percentage for such Home (as set forth in Exhibit B) by the applicable 21st Payoff Amount for the Home (the "Defaulted Loan Repurchase Price").
If Sublandlord does not provide the July 31, 2024 Repossession Notice on or before September 30, 2023, then Subtenant shall have the right to provide written notice on or before October 31, 2023 (“Extension Option Notice”) to Sublandlord of Subtenant’s desire to extend the Sublease Extension Expiration Date.
Landlord or Tenant may record a short form memorandum hereof, and Tenant or Landlord promptly shall execute and deliver to Landlord such a memorandum in the form requested by Landlord and comply with all other reasonable requests made by Landlord in connection therewith.
If Landlord exercises such right to terminate, Landlord shall be entitled to recover possession of the portion of the Premises subject of the Tenant Transfer Specification on the later of (i) the proposed date for possession by such Transferee, as set out in the Tenant Transfer Notice, or (ii) forty-five (45) days after the date of Landlord's Repossession Notice.
If Landlord exercises such right to terminate, Landlord shall be entitled to recover possession of the portion of the Premises subject to the Tenant Transfer Notice on the later of (i) the proposed date for possession by such Transferee, as set out in the Tenant Transfer Notice, or (ii) forty-five (45) days after the date of Landlord's Repossession Notice.
Fee for the issue of Post Repossession Notice will be charged to the loan accountRecovery Costs: Costs incurred by a third party (e.g. repossession agent, legal provider on a solicitor-client basis, repairer) will be charged to a loan account for the invoiced amount, copies of which are available upon request.
In addition to Landlord's rights under Section 11.1, Landlord may elect by notice to Tenant (a "Landlord's Repossession Notice"), within ten (10) days of receipt of the Tenant Transfer Specification, to terminate this Lease as to that portion of the Premises subject to the Tenant Transfer Specification.
In addition to Landlord's rights under Section 15.1, Landlord may elect by notice to Tenant (a "Landlord's Repossession Notice"), within forty-five (45) days of receipt of the Tenant Transfer Notice, to terminate this Lease as to that portion of the Premises subject of Tenant Transfer Notice.
When a Post Repossession Notice is generated on an account, the account is partially charged-off on the date that the notice legally expires.