Examples of Repo Property in a sentence
The Servicer shall either sell any Repo Property or REO Property remaining after such date in an Auction or purchase such Repo Property or REO Property (at the price set forth in this paragraph) before the end of the Extended Holding Period.
Neither the Trustee nor the Servicer, acting on behalf of the Trust, shall provide financing from such Trust to any purchaser of a Repo Property or REO Property.
If one or more REMIC elections are made with respect to the assets of the Trust, the Servicer shall use its best efforts to dispose of such Repo Property or REO Property for its fair market value within 22 months after its acquisition by the Trust pursuant to the Servicer's ordinary commercial practices.
If no REMIC election has been made or is to be made with respect to the assets of the Trust, the 22-month period for disposing of any Repo Property or REO Property as described in the preceding two sentences shall be an eleven-month period.
If one or more REMIC elections are made with respect to the assets of the Trust, the Servicer shall use its best efforts to dispose of such Repo Property or REO Property for its fair market value by the end of the tenth month of the third calendar year following the end of the calendar year in which the Repo Property or REO Property was acquired by the Trust (the "REO Holding Period"), pursuant to the Servicer's ordinary commercial practices.
If no REMIC election has been made or is to be made with respect to the assets of the Trust, the REO Holding Period for disposing of any Repo Property or REO Property as described in the preceding two sentences shall be an eleven-month period.
If the Servicer is unable to sell such Repo Property or REO Property in the course of its ordinary commercial practices within that 12-month period, the Servicer shall (i) purchase such Repo Property or REO Property at a price equal to such Repo Property's or REO Property's fair market value or (ii) auction such Repo Property or REO Property to the highest bidder in an auction reasonably designed to produce a fair price (an "Auction") that takes place within one month after the end of the 12-month period.
If one or more REMIC elections are made with respect to the assets of the Trust, the Servicer shall use its best efforts to dispose of such Repo Property or REO Property for its fair market value within 12 months after its acquisition by the Trust pursuant to the Servicer's ordinary commercial practices.
If the Servicer is unable to sell such Repo Property or REO Property in the course of its ordinary commercial practices within that 22-month period, the Servicer shall (a) purchase such Repo Property or REO Property at a price equal to such Repo Property's or REO Property's fair market value or (b) auction such Repo Property or REO Property to the highest bidder in an auction reasonably designed to produce a fair price (an "Auction") that takes place within one month after the end of the 22-month period.
When Borrower desires a Term Loan, Borrower will notify Agent (which notice shall be irrevocable) by facsimile (or by telephone, provided that such telephonic notice shall be promptly confirmed in writing, but in any event on or before the following Business Day) on the date that is five (5) Business Days prior to the day the Term Loan is to be made (or such shorter period of time as Agent may agree).