Examples of Seller Loss in a sentence
Immediately upon the conveyance of the Initial Mortgage Loans referred to in the preceding paragraph, the Depositor sells, transfers, assigns, sets over and otherwise conveys to the Trustee for benefit of the Certificateholders, without recourse, all right title and interest in the Initial Mortgage Loans and causes the Seller to issue the Seller Loss Coverage Obligation in favor of the Trust pursuant to Section 2.08 hereof.
The obligation of the Seller to remit Enhancement Payments will terminate when the Seller Loss Coverage Amount has been reduced to zero.
Liability for indemnification hereunder shall expire as provided in Section 9(g) below unless, prior to such date, the Indemnified Party has given to the Indemnifying Party written notice of a Purchaser Loss or a Seller Loss (setting forth in reasonable detail the specific facts and circumstances then known and pertaining thereto).
An Initial Holdings Report of Reportable Securities must be submitted by an Access Person no later than 10 days after the person becomes an Access Person.
Such written notice shall state in reasonable detail the factual basis for such claim to the extent then known by the Indemnified Party and the nature of the Buyer Loss or Seller Loss for which indemnification is sought, and it may state the amount of the Buyer Loss or Seller Loss claimed.