Auction of Assets Sample Clauses

Auction of Assets. With respect to any Guaranteed Maturity REMIC Pool, the Administrator shall conduct an auction on a date within the period specified in subsection (b) of this Section 2.07 of the Underlying REMIC Class in such Guaranteed Maturity REMIC Pool. The Administrator shall solicit bids from at least three of the top ten listed CMO Agency Dealers for the Current Year, as published on Bloomberg L.P., page “ICMO” as of the date of the auction (or, if such information is no longer published on such page, from at least three secondary mortgage market dealers selected by the Administrator in a comparable manner using such source of information as the Administrator deems appropriate); provided, however, that any Transferor that holds a Residual Interest in such Guaranteed Maturity REMIC Pool shall not be permitted to bid in the auction. Unless prohibited from bidding in the auction under the immediately preceding sentence, the Depositor may participate in the bidding process but shall not bid higher than the fair market value of any Underlying REMIC Class. The Administrator shall sell the Underlying REMIC Class to the highest bidder and shall deliver the Underlying REMIC Class to its purchaser in the purchaser’s name on or before the Business Day prior to the Final Payment Date for each related Guaranteed Maturity Class.
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Auction of Assets. Xxxxxxx Mac, as administrator of the related Guaranteed Maturity REMIC Pool, shall conduct an auction on a date within the period specified in subsection (b) of this Section 2.07 of the Underlying REMIC Class in such Guaranteed Maturity REMIC Pool. Xxxxxxx Mac shall solicit bids from at least three of the top ten listed CMO Agency Dealers for the Current Year, as published on Xxxxx- xxxx L.P., page ""ICMO'' as of the date of the auction (or, if such information is no longer published on such page, from at least three secondary mortgage market dealers selected by Xxxxxxx Mac in a comparable manner using such source of information as Xxxxxxx Xxx xxxxx appropriate). If Xxxxxxx Mac so elects, Xxxxxxx Mac shall, in its corporate capacity, provide a bid. Xxxxxxx Mac hereby agrees that it will not bid higher than the fair market value of any Underlying REMIC Class. Xxxxxxx Mac shall sell the Underlying REMIC Class to the highest bidder and shall deliver the Underlying REMIC Class to its purchaser in the purchaser's name on or before the Business Day prior to the Final Payment Date for each related Guaranteed Maturity Class.
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Related to Auction of Assets

  • Disposition of Assets To sell, exchange, lend, pledge, mortgage, hypothecate, write options on and lease any or all of the assets of the Trust;

  • Liquidation of Assets We have the right to liquidate assets in your Xxxx XXX if necessary to make distributions or to pay fees, expenses, taxes, penalties, or surrender charges properly chargeable against your Xxxx XXX. If you fail to direct us as to which assets to liquidate, we will decide, in our complete and sole discretion, and you agree to not hold us liable for any adverse consequences that result from our decision.

  • REVERSION OF ASSETS (a) Upon expiration of the term of this Agreement, or upon any prior termination, Subrecipient shall transfer to City any funds provided hereunder which are on hand at the time of expiration or termination.

  • Distribution of Assets In case the Company shall declare or make any distribution of its assets (including cash) to holders of Common Stock as a partial liquidating dividend, by way of return of capital or otherwise, then, after the date of record for determining shareholders entitled to such distribution, but prior to the date of distribution, the holder of this Warrant shall be entitled upon exercise of this Warrant for the purchase of any or all of the shares of Common Stock subject hereto, to receive the amount of such assets which would have been payable to the holder had such holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such distribution.

  • Sale of Assets The Company or the Bank sells to a third party all or substantially all of its assets.

  • Use and Reversion of Assets The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following:

  • Purchase of Assets 11 3.1 Assets Purchased by Assuming Institution 11

  • Transfer of Assets Sell, transfer, lease, or otherwise dispose of any of its assets, except in the ordinary course of business.

  • Disposal of Assets 88) Where the Academy Trust acquires assets for a nil consideration or at an under value it shall be treated for the purpose of this Agreement as having incurred expenditure equal to the market value of those assets at the time that they were acquired. This provision shall not apply to assets transferred to the Academy Trust at nil or nominal consideration and which were previously used for the purposes of an Academy and/or were transferred from an LA, the value of which assets shall be disregarded.

  • TREATMENT OF ASSETS Title to all property furnished by COMMERCE shall remain in COMMERCE. Title to all property furnished by the Contractor, for the cost of which the Contractor is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in COMMERCE upon delivery of such property by the Contractor. Title to other property, the cost of which is reimbursable to the Contractor under this contract, shall pass to and vest in COMMERCE upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by COMMERCE in whole or in part, whichever first occurs.

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