Waiver of Company’s Repurchase Option Sample Clauses

Waiver of Company’s Repurchase Option. The Initial Member will be relieved of its obligation to purchase any Loan for any reason set forth in Section 6.1 if the Company: (a) except in the case of the permanent refinance of a Loan in connection with the final Authorized Funding Draw with respect to such Loan, modifies any of the terms of the Loan (including the terms of any Underlying Collateral Document or Contract for Deed); (b) exercises forbearance with respect to any scheduled payment on the Loan; (c) accepts or executes new or modified lease documents assigned by the Initial Member to the Company; (d) sells, assigns or transfers the Loan or any interest therein; (e) fails to comply with the LLC Operating Agreement in the maintenance, collection, servicing and preservation of the Loan, including delinquency prevention, collection procedures and protection of collateral as warranted; (f) initiates any litigation in connection with the Loan or the Mortgaged Property securing the Loan other than litigation to force payment or to realize on the Underlying Collateral securing the Loan; (g) completes any action with respect to foreclosure on, or accepts a deed-in-lieu of foreclosure for any Underlying Collateral securing the Loan; (h) causes, by action or inaction, the priority of title to the Loan, Mortgaged Property and other security for the Loan to be less than that conveyed by the Initial Member; (i) causes, by action or inaction, the security for the Loan to be different than that conveyed by the Initial Member, except as might be required by the terms of the Underlying Collateral Documents; (j) causes, by action or inaction, a claim of third parties to arise against the Company that, as a result of purchase under this Agreement, might be asserted against the Initial Member; (k) causes to arise, by action or inaction, a Lien of any nature to encumber the Loan; (l) is the Borrower or any Affiliate thereof under such Loan; or (m) makes any disbursement of principal or otherwise incrementally funds any Loan.
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Waiver of Company’s Repurchase Option. The Transferor will be relieved of its obligation to repurchase any Asset for any reason set forth in Section 6.1 if the Company: (a) except in the case of the permanent refinance of a Loan in connection with the final Authorized Funding Draw with respect to such Loan, modifies any of the terms of the Loan (including the terms of any Collateral Document or Contract for Deed); (b) exercises forbearance with respect to any scheduled payment on the Loan; (c) accepts or executes new or modified lease documents assigned by the Transferor to the Company; (d) sells, assigns or transfers the Asset or any interest therein; (e) (i) fails to comply with the LLC Operating Agreement in the maintenance, collection, servicing and preservation of the Asset, including delinquency prevention, collection procedures and protection of collateral as warranted, or (ii) without limiting the generality of clause (i), settles or compromises (without the Transferor’s written consent), or fails diligently to conduct (including if relevant to defend), any litigation or bankruptcy action described in Section 6.3(d) with respect to the Asset; (f) initiates any litigation in connection with the Asset or the Mortgaged Property securing the Asset other than litigation to force payment or to realize on the Collateral securing the Asset; (g) completes any action with respect to foreclosure on, or accepts a deed-in-lieu of foreclosure for, any Collateral securing the Asset; (h) causes, by action or inaction, the priority of title to the Asset, Mortgaged Property and other security for the Asset to be less than that conveyed by the Transferor; (i) causes, by action or inaction, the security for the Asset to be different than that conveyed by the Transferor, except as may be required by the terms of the Collateral Documents; (j) causes, by action or inaction, a claim of third parties to arise against the Company that, as a result of purchase under this Agreement, may be asserted against the Transferor; (k) causes to arise, by action or inaction, a Lien of any nature to encumber the Asset; (l) is the Borrower or any other Obligor, or any Affiliate thereof, with respect to such Asset; (m) makes any disbursement of principal or otherwise incrementally funds any Loan; or (n) makes a Discretionary Funding Advance with respect to the Asset. For the avoidance of doubt, and without limitation of clause (g) of the preceding sentence, it is understood and agreed that the Transferor will not have any obli...
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Waiver of Company’s Repurchase Option. The Initial Member will be relieved of its obligation to purchase any Loan for any reason set forth in Section 6.1 if the
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Related to Waiver of Company’s Repurchase Option

  • Waiver of Appellate and Post-Conviction Rights a. The defendant acknowledges, understands and agrees that by pleading guilty pursuant to this plea agreement he waives his right to appeal or collaterally attack a finding of guilt following the acceptance of this plea agreement, except on grounds of (1) ineffective assistance of counsel; or (2) prosecutorial misconduct.

  • Performance of Covenants by Warrant Agent If the Corporation shall fail to perform any of its covenants contained in this Indenture, the Warrant Agent may notify the Registered Warrantholders of such failure on the part of the Corporation and may itself perform any of the covenants capable of being performed by it but, subject to Section 9.2, shall be under no obligation to perform said covenants or to notify the Registered Warrantholders of such performance by it. All sums expended or advanced by the Warrant Agent in so doing shall be repayable as provided in Section 5.3. No such performance, expenditure or advance by the Warrant Agent shall relieve the Corporation of any default hereunder or of its continuing obligations under the covenants herein contained.

  • Issue in Substitution for Warrant Certificates Lost, etc (1) If any Warrant Certificate becomes mutilated or is lost, destroyed or stolen, the Corporation, subject to applicable law, shall issue and thereupon the Warrant Agent shall certify and deliver, a new Warrant Certificate of like tenor, and bearing the same legend, if applicable, as the one mutilated, lost, destroyed or stolen in exchange for and in place of and upon cancellation of such mutilated Warrant Certificate, or in lieu of and in substitution for such lost, destroyed or stolen Warrant Certificate, and the substituted Warrant Certificate shall be in a form approved by the Warrant Agent and the Warrants evidenced thereby shall be entitled to the benefits hereof and shall rank equally in accordance with its terms with all other Warrants issued or to be issued hereunder.

  • Waiver of Compliance Any failure of any of the parties to comply with any obligation, covenant, agreement or condition herein may be waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver, but any such written waiver, or the failure to insist upon strict compliance with any obligation, covenant, agreement or condition herein, shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure.

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