Common use of Consummation of Repurchase Clause in Contracts

Consummation of Repurchase. Any such repurchase shall occur on a date selected by the Lender, which date shall be no later than (a) ten (10) business days after the giving of written notice by the Lender of the exercise of its option to repurchase, or (b) twenty-five (25) business days after the Lender begins foreclosure proceedings. The purchase price paid by the Lender to the Rural Center shall be paid on such date in immediately available funds, and concurrently therewith the Rural Center shall execute, and deliver to the Lender, document(s) reassigning to the Lender the Participation, without recourse, covenant or warranty, express or implied (except that the Rural Center shall warrant its ownership of the Participation, the amount of indebtedness outstanding thereunder and its authority and capacity to execute such documents).

Consummation of Repurchase. Any such repurchase shall occur on a date selected by the Lender, which date shall be no later than (a) ten (10) business days after the giving of written notice by the Lender of the exercise of its option to repurchase, or (b) twenty-five (25) business days after a request by the Authority that the Lender begins begin foreclosure proceedings. The purchase price paid by the Lender to the Rural Center Authority shall be paid on such date in immediately available funds, and concurrently therewith the Rural Center Authority shall execute, and deliver to the Lender, document(s) reassigning to the Lender the Participation, without recourse, covenant or warranty, express or implied (except that the Rural Center Authority shall warrant its ownership of the Participation, the amount of indebtedness outstanding thereunder and its authority and capacity to execute such documents).

Consummation of Repurchase. Any such repurchase shall occur on a date selected by the Lender, which date shall be no later than (a) ten (10) business days after the giving of written notice by the Lender of the exercise of its option to repurchase, or (b) twenty-five (25) business days after the Lender begins foreclosure proceedings. The purchase price paid by the Lender to the Rural Center BDC shall be paid on such date in immediately available funds, and concurrently therewith the Rural Center BDC shall execute, and deliver to the Lender, document(s) reassigning to the Lender the Participation, without recourse, covenant or warranty, express or implied (except that the Rural Center BDC shall warrant its ownership of the Participation, the amount of indebtedness outstanding thereunder and its authority and capacity to execute such documents).

Consummation of Repurchase. Any such repurchase shall occur on a date selected by the Lender, which date shall be no later than (a) ten (10) business days after the giving of written notice by the Lender of the exercise of its option to repurchase, or (b) twenty-five (25) business days after a request by the Department that the Lender begins begin foreclosure proceedings. The purchase price paid by the Lender to the Rural Center Department shall be paid on such date in immediately available funds, and concurrently therewith the Rural Center Department shall execute, and deliver to the Lender, document(s) reassigning to the Lender the Participation, without recourse, covenant or warranty, express or implied (except that the Rural Center Department shall warrant its ownership of the Participation, the amount of indebtedness outstanding thereunder and its authority and capacity to execute such documents).