Repurchase Loan definition

Repurchase Loan means a mortgage loan repurchased by the Company from an Investor for reasons other than fraud that meets the following conditions: (i) no notice or other indication has been given by FHA or VA challenging the obligations of FHA or VA to pay the full amount due on any insurance or guaranty certificate in connection with such mortgage loans (and in good faith estimation of the Company, no such challenge is forthcoming); (ii) the mortgage loan does not have any payments more than seven hundred twenty (720) days past due (unless the borrower of such mortgage loan filed a voluntary bankruptcy petition or had an involuntary bankruptcy petition filed against it while the payments on such mortgage loan were past due, in which case such seven hundred twenty (720) day period shall be extended to one thousand eighty (1080) days); (iii) the related Repurchase Advance shall be due and payable no later than one hundred eighty (180) days after the date of such Repurchase Advance, or earlier upon receipt of proceeds from the sale of the property, sale of the mortgage or settlement of the claim with the Investor, insurer or guarantor; (iv) not more than ninety (90) days have passed since reinstatement of the mortgage loan; (v) the mortgage loan is not a Subprime Mortgage Loan and (vi) the mortgage loan shall not be a mortgage loan which in good faith estimation of the Company is deemed to be a "no bid" candidate under the current VA practice, provided that such estimation by the Company may take into account the amount of any buy down of the principal balance of such mortgage loan which has actually been made by the Company, or is anticipated to be made by the Company, provided that the amount of any such anticipated buy down shall be deducted from the Collateral Value of such mortgage loan.
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Repurchase Loan means any Single Family Mortgage Loan or Qualified Rehabilitation Loan which is subject to repurchase pursuant to a Repurchase Agreement.
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Repurchase Loan means a Revolving Loan designated as such in the related Borrowing Request delivered pursuant to Section 2.03.
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Examples of Repurchase Loan in a sentence

  • The Repurchase Loan Rate shall be adjusted at the end of each calendar month to the rate equal to the Repurchase Loan Rate determined by reference to the then-current LIBOR.

  • Interest shall accrue on the principal amount of Repurchase Advances outstanding hereon at an annual rate equal to LIBOR plus 162.5 basis points ("Repurchase Loan Rate").

  • In addition to the foregoing, for each of the thirty (30) days following the funding of (i) a Securities Repurchase Loan or (ii) an Acquisition Loan, Borrower shall maintain Availability of not less than $15,000,000; provided, however, that if the Target Asset Inclusion Conditions are satisfied, assets of the Target shall be included in the calculation of Availability for purposes of clause (ii) hereof.

  • The Seller may, instead of purchasing a Repurchase Loan from the Issuer, require the Issuer to accept in consideration for the purchase, the transfer of a Replacement Loan such that the Replacement Loan Consideration of such Replacement Loans together with any cash consideration equals the cash consideration that would have been payable by the Seller to the Issuer.

  • Any attempt to do so will automatically render this redemption form null and void.

  • The unpaid balance of the Stock Repurchase Loan shall bear interest at a rate of 3.56% per annum.

  • The Repurchase Loan Claim will not bear interest and shall be repayable on demand.

  • Given that the Repurchase Shares will be acquired by Lexshell 615 to be held in treasury, the Repurchase will not result in a reduction in share capital as the Repurchase Shares will not be cancelled but will increase the number of Liberty Shares held in treasury (see paragraph 15.2 for the effect of the Repurchase on Liberty’s share capital) The Repurchase Loan Claim will give rise to a debt owing by Lexshell 615 in favour of the Liberty Trust.

  • The proceeds of the Loans are to be (i) used in conjunction with the Citi Repurchase Loan Agreement to fund transitional bridge loans consistent with the Borrower’s business and approved by the Borrower’s Board of Trustees or (ii) held by the Borrower in order to satisfy the minimum Cash Liquidity (as such term is defined in the Guaranty) financial covenant required under the Guaranty.

  • No repayment or prepayment of the Stock Repurchase Loan shall be reason for any relending or additional lending of proceeds of the Stock Repurchase Loan to the Borrower.


More Definitions of Repurchase Loan

Repurchase Loan means a Mortgage Loan which the Company is required by an Investor to repurchase under its respective Purchase Agreement."
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Repurchase Loan has the meaning ascribed thereto in clause 11.3 below;
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Repurchase Loan shall have the meaning ascribed to it in Section 3.3.
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Repurchase Loan means the non-interest bearing loan made by Purchaser to Eveready in the amount necessary to fund Eveready’s payment obligation in connection with the repurchase of Eveready Debentures in section 2.4(i);
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Related to Repurchase Loan

  • Repurchased Loan has the meaning set forth in Section 2.3(a).

  • Repurchase Value means the Fair Market Value in the event the award to be repurchased under Section 10.2 is comprised of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market Value) in the event the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.

  • Repurchase Amount shall have the meaning set forth in Section 4.2 hereof.

  • Repurchase As defined in Section 2.03(a) of this Agreement.

  • Repurchase Price means, with respect to any Loan the Book Value, adjusted to reflect changes to Book Value after Bank Closing, plus (i) any advances and interest on such Loan after Bank Closing, minus (ii) the total of amounts received by the Assuming Bank for such Loan, regardless of how applied, after Bank Closing, plus (iii) advances made by Assuming Bank, plus (iv) total disbursements of principal made by Receiver that are not included in the Book Value.

  • Repurchase Date has the meaning specified in Section 14.1.

  • Repurchase Event means the occurrence of a breach of any of the Seller’s representations and warranties in Section 3.1(a) or any other event which requires the repurchase of a Receivable by the Seller, under the Sale and Servicing Agreement.

  • Repurchase Assets has the meaning assigned thereto in Section 8 hereof.

  • Purchased Loan A motor vehicle retail installment loan relating to the sale of an automobile or light-duty truck originated by a Dealer, purchased by CAC or a subsidiary from such Dealer and evidenced by a motor vehicle retail installment sales contract.

  • Repurchase Upon Fundamental Change means the repurchase of any Note by the Company pursuant to Section 4.02.

  • Repurchase Obligation has the meaning set forth in Section 8.6.

  • Early Repurchase Date shall have the meaning specified in Section 3(d) of this Agreement.

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Repurchase Offer shall have the meaning specified in Section 11.1(b).

  • Accelerated Repurchase Date shall have the meaning specified in Section 14(b)(i) of this Agreement.

  • Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.

  • Treasury Portfolio Purchase Price means the lowest aggregate price quoted by a primary U.S. government securities dealer in New York City (a "Primary Treasury Dealer") to the Quotation Agent on the third Business Day immediately preceding the Tax Event Redemption Date for the purchase of the Treasury Portfolio for settlement on the Tax Event Redemption Date.

  • Repurchase Obligations shall have the meaning specified in Section 7(b).

  • Repurchase Request As defined in Section 2.03(g).

  • Delinquent Loan A Mortgage Loan that is delinquent at least sixty (60) days in respect of its Monthly Payments or Balloon Payment, if any, in either case such delinquency to be determined without giving effect to any Grace Period.

  • Optional Redemption Pricing Date means a Valuation Date on which a Redemption Order is determined to be valid and accepted by or on behalf of the Issuer in accordance with the terms of the LS Operating Procedures Agreement.

  • Repurchase Right has the meaning specified in Section 11.1 hereof.

  • 60+ Day Delinquent Loan Each Mortgage Loan (including each Mortgage Loan in foreclosure and each Mortgage Loan for which the Mortgagor has filed for bankruptcy after the Closing Date) with respect to which any portion of a Monthly Payment is, as of the last day of the prior Collection Period, two months or more past due and each Mortgage Loan relating to an REO Property.

  • Eligible Repurchase Obligations Repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or trust company (acting as principal) described in clauses (c)(ii) and (c)(iv) of the definition of Permitted Investments.

  • Interest Transfer Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month's interest on the applicable Principal Transfer Amount at the weighted average Certificate Interest Rate of the applicable Undercollateralized Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Defaulted Mortgage Loan Purchase Price means, in connection with the purchase of the A Notes by the Note B Holder, the sum, without duplication, of each of the following to the extent that such amounts have not been previously paid or reimbursed pursuant to Section 3 or Section 4 of this Agreement: (a) the Note A Principal Balance, (b) accrued and unpaid interest, on the Note A Principal Balance at the Note A Rate from the date as to which interest was last paid in full by Mortgage Loan Borrower up to and including the end of the interest accrual period relating to the Monthly Payment Date next following the date the purchase occurred, (c) any other amounts due under the Mortgage Loan to the Note A Holders, other than Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, provided that if a Borrower Party is the purchaser, the Defaulted Mortgage Loan Purchase Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) without duplication of amounts under clause (c), any unreimbursed Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including, without limitation, Property Protection Advances payable or reimbursable to any Servicer, and special servicing fees incurred by or on behalf of the Note A Holders), (e) without duplication of amounts under clause (c), any accrued and unpaid Advance Interest Amount with respect to an Advance made by or on behalf of the Note A Holders, (f) (x) if a Borrower Party is the purchaser, or (y) if the Mortgage Loan is purchased more than ninety (90) days after such option first becomes exercisable pursuant to Section 12 of this Agreement, any liquidation or workout fees payable under the Servicing Agreement with respect to the Mortgage Loan and (g) any Recovered Costs not reimbursed previously to the Note A Holders pursuant to this Agreement. Notwithstanding the foregoing, if the purchasing Noteholder is purchasing from a Borrower Party, the Defaulted Mortgage Loan Purchase Price shall not include the amounts described under clauses (d) through (f) of this definition. If the Mortgage Loan is converted into a Foreclosure Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on Note A at the Note A Default Rate as if the Mortgage Loan were not so converted. In no event shall the Defaulted Mortgage Loan Purchase Price include amounts due or payable to the Purchasing Noteholder under this Agreement.