Returned Loan definition

Returned Loan means any Eligible Loan that, up to and including the General Certificate Cancellation Date, is required to be repurchased from ▇▇▇▇▇▇▇ Mac by the seller of such Eligible Loan to ▇▇▇▇▇▇▇ Mac and/or by the current servicer of such Eligible Loan in accordance with the terms of the applicable purchase contract and/or servicing agreement between ▇▇▇▇▇▇▇ Mac and such seller and/or servicer (other than a repurchase required as a result of a rescission, cancellation, Curtailment or denial of a Claim by Radian). An Eligible Loan shall be considered a Returned Loan effective as of the time at which the repurchase by the loan seller and/or current servicer has been completed; provided that no Eligible Loan shall be considered a Returned Loan unless such repurchase has been completed on or prior to the General Certificate Cancellation Date. All Eligible Loans that have become Returned Loans effective as of the Cutoff Date are identified on Schedule 1(e) of the Letter Agreement, and the Parties agree to treat them as set forth in Section 4.6.
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Examples of Returned Loan in a sentence

  • Radian acknowledges and agrees that this Section 4.6(e) shall apply only if and for so long as the Returned Loan Required Amount exceeds zero.

  • In no event shall the release provided in this Section 6.1(b) be interpreted to release any Radian Party Releasees from (i) any obligations or liabilities created or arising under the Transaction Agreements with respect to any of the Eligible Loans or otherwise or (ii) any claim or cause of action held by any holder of a Repurchased Loan or a Returned Loan.

  • In no event shall the release provided in this Section 6.1(a) be interpreted to release any ▇▇▇▇▇▇▇ Mac Party Releasees from (i) any obligations or liabilities created or arising under the Transaction Agreements with respect to any of the Eligible Loans or otherwise, or (ii) any claim or cause of action held by any holder of a Repurchased Loan or a Returned Loan.