Additional Recourse Sample Clauses

Additional Recourse. (a) In addition to (and not by limitation) the obligations of the Sponsor set forth in Section 4.01 and Section 4.02 hereof, the Sponsor agrees that it will pay to the Indenture Trustee (for application in accordance with the terms of this Agreement), any unpaid amounts which may become due and owing under the Indenture, but remain unpaid on the 10th Business Day after the relevant amount became due, (i) on the day on which the Sponsor is given notice of the circumstances, if notice is given at or before 11:00 a.m. (New York Time) on a Business Day, or (ii) on the Business Day following the day such notice is given, if it is given after that time on a Business Day or on a day that is not a Business Day; provided that the aggregate amount the Sponsor shall be obligated to pay pursuant to this Section 4.06 shall not exceed 10% of the aggregate Note Principal Balance (the "Additional Recourse Cap"). The Sponsor further agrees to pay any and all reasonable expenses (including, without limitation, all fees and disbursements of counsel) which may be paid or incurred by the Indenture Trustee in enforcing, or obtaining advice of counsel in respect to or collecting against, the Sponsor. The Sponsor agrees that whenever, at any time, or from time to time, it shall make any payment to the Indenture Trustee on account of its liability under this Section 4.06, it will notify the Indenture Trustee in writing that such payment is made under this Agreement for such purpose.
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Additional Recourse. 52 ARTICLE V THE ORIGINATORS, THE DEPOSITOR AND THE SPONSOR
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Additional Recourse. Notwithstanding anything to the contrary contained in Section 7.1 above or elsewhere in this Agreement or the other Loan Documents, nothing contained in this Agreement or any of the other Loan Documents shall in any manner or way release, affect or impair the right of Lender to recover, and Borrower shall be fully and personally liable for and subject to legal action to the extent of any liabilities, costs, expenses, (including attorney’s fees and expenses), claims, losses or damages incurred by Lender arising out of or in connection with the following:
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Additional Recourse. (a) Borrower and Guarantor consent and agree that the Obligations shall be fully recourse to Borrower and Guarantor upon the occurrence of Guarantor or any of its Affiliates colluding with or otherwise assisting any Person in filing an involuntary petition against any Borrower and/or any SPC Party under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency law.
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Additional Recourse. The Arbitral Panel’s award will be issued no later than ten (10) days after the beginning of the arbitration hearing. The award will be final and binding, without additional recourse, and will be the exclusive remedy of the Parties for all claims, counterclaims, issues or accountings presented or pleaded to the Arbitral Panel. The Arbitral Panel will render its award strictly in accordance with this Agreement and does not have authority to change or diverge from any provision of this Agreement. The Arbitral Panel may impose indemnification measures as part of the award. The arbitral award will (i) be granted and paid in United States Dollars exclusive of any tax, deduction or offset and (ii) include interest from the date the award is rendered until it is fully paid, computed at the rate of ten percent per annum (10%).
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Additional Recourse. Borrower and Liable Party shall be liable to Lender for any damages, costs and expenses actually incurred by Lender arising from, or in connection with, Borrower’s failure, subject to the applicable notice and cure period set forth in Section 1 of this Agreement, to (i) establish the Lockbox Account as required pursuant to Section 1(a) of this Agreement, but only to the extent that such failure results from any act or omission of Borrower or any Affiliate of Borrower (i.e., any failure to establish the Lockbox Account caused by any act or omission of Lockbox Bank or Lender shall not result in any liability under this clause (i)), (ii) send Tenant Direction Notices as and when required pursuant to Section 1(c) of this Agreement, or (iii) cause all revenue derived from the Property and received by Borrower, Manager or Co-Manager and/or reimbursements collected by Borrower, Manager or Co- Manager on behalf of Xxxxxxxx, in each case to be deposited into the Lockbox Account to the extent required pursuant to Section 1(c). Without limiting any of the terms of the Loan Agreement, the Guaranty and the Environmental Indemnity, the terms of this Section 2 is intended to be an additional obligation of Borrower and Liable Party under Section 12.20 of the Loan Agreement and an additional Guaranteed Obligation (as defined in the Guaranty) of Liable Party under the Guaranty.
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Additional Recourse. 52 ARTICLE V THE ORIGINATORS, THE DEPOSITOR and the sponsor
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Related to Additional Recourse

  • Additional Receivables On each Distribution Date during the Revolving Period, the Depositor shall purchase from the Seller and sell to the Issuing Entity Additional Receivables in an amount approximately equal to (but not greater than) the amount of funds deposited on such Distribution Date in the Accumulation Account pursuant to clauses (vii) and (ix) of Section 4.06(c) of this Agreement. Subject to the satisfaction of the conditions set forth in Section 2.07, in consideration of the Issuing Entity’s delivery on or prior to any Subsequent Closing Date to the Depositor of an amount equal to the Aggregate Additional Receivables Principal Balance for such date, on each Subsequent Closing Date the Depositor shall, pursuant to this Agreement and the related Second Step Additional Receivables Assignment in the form attached as Exhibit C to this Agreement (the “Second Step Additional Receivables Assignment” and together with the Second Step Initial Receivables Assignment, the “Second Step Receivables Assignments”), sell, transfer, assign and otherwise convey to the Issuing Entity, without recourse:

  • Performance of Obligations; Servicing of Receivables (a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except in each case as expressly provided in the Basic Documents.

  • Representations True; No Event of Default Each of the representations and warranties of any of the Borrower and its Subsidiaries contained in this Credit Agreement, the other Loan Documents or in any document or instrument delivered pursuant to or in connection with this Credit Agreement shall be true as of the date as of which they were made and shall also be true at and as of the time of the making of such Loan or the issuance, extension or renewal of such Letter of Credit, with the same effect as if made at and as of that time (except to the extent of changes resulting from transactions contemplated or permitted by this Credit Agreement and the other Loan Documents and changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse, and to the extent that such representations and warranties relate expressly to an earlier date) and no Default or Event of Default shall have occurred and be continuing.

  • Additional Representations and Agreements of Counterparty Counterparty represents, warrants and agrees as follows:

  • Repurchase of Mortgage Loans with Early Payment Defaults If the related Mortgagor is delinquent with respect to any of the Mortgage Loan's first three (3) Monthly Payments at any time either (i) after origination of such Mortgage Loan, or (ii) after the related Closing Date, the Seller, at the Purchaser's option, shall repurchase such Mortgage Loan from the Purchaser at a price equal to the Repurchase Price. The Seller shall repurchase such delinquent Mortgage Loan within thirty (30) days of such request.

  • Performance of Obligations; Servicing of Contracts (a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any such Person’s material covenants or obligations under any instrument or agreement included in the Collateral or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as expressly provided in the Transaction Documents or such other instrument or agreement.

  • Representations and Additional Covenants of Repo Custodian (a) Repo Custodian represents and warrants that (i) it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder and has taken all necessary action to authorize such execution, delivery and performance, (ii) the execution, delivery and performance of this Agreement do not and will not violate any ordinance, declaration of trust, partnership agreement, articles of incorporation, charter, rule or statute applicable to it or any agreement by which it is bound or by which any of its assets are affected, (iii) the person executing this Agreement on its behalf is duly and properly authorized to do so, (iv) it has (and will maintain) a copy of this Agreement and evidence of its authorization in its official books and records, and (v) this Agreement has been executed by one of its duly authorized officers at the level of Vice President or higher.

  • Conveyance of Initial Receivables In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (subject to the obligations set forth herein), all right, title and interest of the Seller in and to:

  • Repurchase of Mortgage Loans with First Payment Defaults With respect to any Mortgage Loan, in the event that the first scheduled payment of principal and interest due either (i) after origination of such Mortgage Loan, or (ii) after the related Closing Date is not paid by the related Mortgagor to the Purchaser within thirty (30) days of such Due Date, the Seller, at the Purchaser's option, shall repurchase such Mortgage Loan from the Purchaser at a price equal to the related Purchase Price Percentage multiplied by the then outstanding principal balance of such Mortgage Loan, plus accrued and unpaid interest thereon from the date to which interest was last paid through the day prior to the repurchase date at the applicable Mortgage Interest Rate, plus any outstanding advances owed to any servicer in connection with such Mortgage Loan. Notwithstanding the foregoing, the Purchaser's right to request a repurchase hereunder shall not commence until the date which is sixty (60) days following the related Due Date (the "Breach Date"). The Purchaser shall have ninety (90) days following the related Breach Date to notify the Seller and request a repurchase and the Seller shall repurchase such Mortgage Loan within forty-five (45) days of receipt of such notice. Notwithstanding the foregoing, the Purchaser reserves the right to request a repurchase following such sixty (60) day timeframe in the event of a NSF return. In addition, if any payment referred to above is received by the Seller following the Transfer Date but such payment is made within the allotted thirty (30) or sixty (60) day period, as applicable, the Purchaser shall not have the option to request a repurchase.

  • Performance of Obligations; Servicing Agreement (a) The Issuer will punctually perform and observe all of its obligations and agreements contained in this Indenture, the Basic Documents and in the instruments and agreements included in the Trust Estate.

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