Purchase Events. 15 Section 6.05. Indemnification.......................................15 Section 6.06. Trust.................................................16
Purchase Events. The Transferors and the Representative acknowledge that the Transferees have assigned all of their right, title and interest in, to and under this Agreement, including the Transferees' right to cause the Representative or the Transferors to purchase the Mortgage Loans from the Transferees under certain circumstances, to the Issuer pursuant to Section 2.01 of the Pooling and Servicing Agreement, and the Issuer has granted to the Trustee a security interest in and Lien on the Mortgage Loans and its right, title and interest in this Agreement. The Transferors and the Representative hereby covenant and agree with the Transferees for the benefit of the Transferees, the Trustee, the Certificateholders and the Certificate Insurer that the occurrence of a breach of any of the Representative's or the Transferor's representations and warranties contained in Section 3.02 hereof shall constitute events obligating the Transferor and the Representative, to the extent specified in Section 3.03 of the Pooling and Servicing Agreement, and without further notice from the Transferees hereunder, to purchase an Mortgage Loan from the Trustee (a "Purchase Event"). It is understood and agreed that the obligation of the Representative or the Transferors to purchase any Mortgage Loan as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Transferors and the Representative for such breach available to the Trustee, the Certificateholders or the Certificate Insurer.
Purchase Events. Acquiror may exercise the Option only if one or more of the following events has occurred:
Purchase Events. In the event that any of the following (each a “Purchase Event”) shall have occurred to or in respect of a Selling Holder, the Remaining Holders shall have the right upon the terms set forth in this Article V to purchase the entire Ownership Interest of the Selling Holder (or, in the case of a Purchase Event pursuant to Section 5.1(x) below, such portion of the Selling Holder’s Ownership Interest as is assigned, sold, or otherwise transferred as described in Section 5.1(x)):
Purchase Events. The following shall constitute a “Purchase Event”:
Purchase Events. 17 SECTION 6.05 Indemnification........................................................................17 SECTION 6.06 Trust..................................................................................17 -i- 27 TABLE OF CONTENTS (CONTINUED)
Purchase Events. The Transferor acknowledges that the Transferee has assigned all of their right, title and interest in, to and under this Agreement, including the Transferee's right to cause the Transferor to purchase the Mortgage Loans from the Transferee under certain circumstances, to the Trust pursuant to Section 2.01 of the Pooling and Servicing Agreement, and the Transferee has granted to the Trustee a security interest in and Lien on the Mortgage Loans and the Transferee's right, title and interest in this Agreement. The Transferor hereby covenants and agrees with the Transferee for the benefit of the Transferee, the Trustee, the Certificateholders and the Certificate Insurer, the NIMS Insurer, that the occurrence of a breach of any of the Transferor's representations and warranties contained in Section 3.02 hereof shall constitute ------------ events obligating the Transferor, to the extent specified in Section 3.03 of the ------------ Pooling and Servicing Agreement, and without further notice from the Transferee hereunder, to purchase applicable Mortgage Loans from the Trustee (a "Purchase Event"). It is understood and agreed that the obligation of the Transferor to purchase any Mortgage Loan as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Transferor for such breach available to the Trustee, the Certificateholders, the Certificate Insurer or the NIMS Insurer.
Purchase Events. 11 SECTION 6.03. Depositor Assignment of Purchased Receivables...................12 (SECTION 6.04. Transfer to the Issuer.........................................12 (SECTION 6.04. Transfer to the Trust..........................................12 SECTION 6.05. Amendment.......................................................12 SECTION 6.06. Waivers.........................................................13 SECTION 6.07. Notices.........................................................13
Purchase Events. The Transferor hereby covenants and agrees with the Depositor for the benefit of the Depositor, the (Indenture Trustee, the Owner Trustee, (the Certificateholders) and the Noteholders)(the Trustee and the Certificateholders) that the occurrence of a breach of any of the Transferor's representations and warranties contained in Section 3.02(b) shall constitute an event obligating the Transferor to purchase the Receivables to which the breach is applicable ("Purchase Events"), at the Purchase Amount, from the Depositor or from the Issuer, as applicable, unless any such breach shall have been cured by the last day of the first Collection Period following the discovery or notice thereof by or to the Transferor or the Servicer. The purchase obligation of the Transferor shall constitute the sole remedy available to the Depositor, (the Indenture Trustee, the Owner Trustee, the Issuer and the Noteholders (or the Certificateholders) (the Trustee or the Certificateholders) against the Transferor with respect to any Purchase Event.
Purchase Events. (a) If any Purchase Event shall occur and be continuing, FEP may, without prejudice to any other rights and remedies which FEP may have under or in connection with this Agreement or any other Program Document or under applicable law, waive the Purchase Event.
