Repurchase Penalty definition

Repurchase Penalty means, (i) if the Repurchase Date is within 12 months of the date of issuance of the applicable Bond or beneficial interest therein, then 10% of the initial principal amount of such Bond or beneficial interest being repurchased; and (ii) if the Repurchase Date is later than the date which is 12 months following the issuance date of the applicable Bond or beneficial interest therein, then 8% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Repurchase Penalty shall have the meaning set forth in Section 3.2(b).
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Repurchase Penalty means, if the Repurchase Date is within 12 months, 24 months or 36 months of the date of issuance of the applicable A Bond or beneficial interest therein, then 10%, 8%, and 6% respectively of the initial principal amount of such Bond or beneficial interest being repurchased and if the Repurchase Date is within 12 months of the date of issuance of the applicable R Bond or beneficial interest therein, then 4% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Examples of Repurchase Penalty in a sentence

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Securities at the request of Holders; provided that no such modification shall adversely affect the rights of Holders to the repurchase of Securities for which Repurchase Requests are then outstanding.

  • Any such requested repurchase shall be made only at the Company’s discretion and, if made, will be subject to an early Repurchase Penalty to be deducted from the payment of such Holder’s Repurchase Price on the Repurchase Date.

  • Any such requested repurchase shall be made only at the Company's discretion and, if made, will be subject to an early Repurchase Penalty to be deducted from the payment of such Holder's Repurchase Price on the Repurchase Date.

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Securities at the request of Holders.

  • Subject to subsection (c) below, a Holder may request the Company to repurchase, in whole and not in part, the Security held by such Holder by delivering a Repurchase Request to the Company; provided that an early Repurchase Penalty will be deducted from the payment of such Holder's Repurchase Price on the Repurchase Date, unless the Repurchase Request is given pursuant to paragraph (a) above.

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Notes at the request of Holders; provided that no such modification shall adversely affect the rights of Holders to the repurchase of Notes for which Repurchase Requests are then outstanding.

  • Subject to subsections (c) and (d) below, a Holder may request the Company to repurchase, in whole and not in part, the Note held by such Holder by delivering a Repurchase Request to the Company; provided that an early Repurchase Penalty will be deducted from the payment of such Holder's Repurchase Price on the Repurchase Date, unless the Repurchase Request is given pursuant to paragraph (a) above.

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Securities at the request of a Holder as it relates to such Holder’s Security; provided that no such modification shall adversely affect the rights of Holders to the repurchase of Securities for which Repurchase Requests are then outstanding.


More Definitions of Repurchase Penalty

Repurchase Penalty means, (i) if the Repurchase Request is for disability or bankruptcy, there is no penalty; (ii) if the Repurchase Request is for Death, then 10% of the initial principal amount of such Bond or beneficial interest being repurchased; and (iii) if the Repurchase Request is for any other reason, then 12% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Repurchase Penalty means 6% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Related to Repurchase Penalty

  • Repurchase Period means a period of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability.

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

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

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

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • 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 Request As defined in Section 2.03(g).

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

  • Termination Price As defined in Section 9.01.

  • Repurchase Date has the meaning specified in Section 14.1.

  • Unconfirmed Servicing Defect With respect to any Reference Obligation, the existence of the following, as determined by Xxxxxxx Mac in its sole discretion, (a) there is a violation of the servicing guidelines and other requirements in the Xxxxxxx Mac Single Family Seller/Servicer Guide (the “Guide”, as modified by the terms of the related servicer’s contract, including any related terms of business (“TOBs”)); and (b) Xxxxxxx Mac has issued a notice of defect, repurchase letter or a repurchase alternative letter related to the servicing breach. For the avoidance of doubt, Reference Obligations with minor technical violations, which in each case Xxxxxxx Mac determines to be acceptable Reference Obligations, may not result in an Unconfirmed Servicing Defect.

  • Call Option Repayment Date means the settlement date for the Call Option determined by the Issuer pursuant to Clause 10.2 (Voluntary early redemption – Call Option), Clause 10.3(d) or a date agreed upon between the Bond Trustee and the Issuer in connection with such redemption of Bonds.

  • Change of Control Repurchase Event means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

  • 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.