Common use of DETERMINATION OF BREACH Clause in Contracts

DETERMINATION OF BREACH. For the purpose of determining whether or not any warranty made by the Cooperative under the provisions of Section 3.05 was false and that the Cooperative is therefore obliged to repurchase any Purchased Contract, the Cooperative shall be bound by a written statement of an officer of Statesman that in the reasonable judgment of Statesman it has determined that any obligor under any Purchased Contract has refused to make any scheduled payment under such contract because of any fact which has been represented as otherwise by the Cooperative to Statesman under the provisions of Section 3.05 hereof.

DETERMINATION OF BREACH. For the purpose of determining whether or not any warranty made by the Cooperative under the provisions of Section 3.05 4.10 was false and that the Cooperative is therefore obliged to repurchase any Purchased ContractWholesale Account, the Cooperative shall be bound by a written statement of an officer of Statesman that in the reasonable judgment of Statesman it has determined that any obligor under any Purchased Contract Wholesale Account has refused to make any scheduled payment under such contract because of any fact which has been represented as otherwise by the Cooperative to Statesman under the provisions of Section 3.05 4.10 hereof.

DETERMINATION OF BREACH. For the purpose of determining whether or not ----------------------- any warranty made by the Cooperative under the provisions of Section 3.05 was false and that the Cooperative is therefore obliged to repurchase any Purchased Contract, the Cooperative shall be bound by a written statement of an officer of Statesman that in the reasonable judgment of Statesman it has determined that any obligor under any Purchased Contract has refused to make any scheduled payment under such contract because of any fact which has been represented as otherwise by the Cooperative to Statesman under the provisions of Section 3.05 hereof.

DETERMINATION OF BREACH. For the purpose of determining whether or not ----------------------- any warranty made by the Cooperative under the provisions of Section 3.05 3E.05 was false and that the Cooperative is therefore obliged to repurchase any Purchased ContractNote, the Cooperative shall be bound by a written statement of an officer of Statesman that in the reasonable judgment of Statesman it has determined that any obligor under any Purchased Contract Note has refused to make any scheduled payment under such contract Note because of any fact which has been represented as otherwise by the Cooperative to Statesman under the provisions of Section 3.05 3E.05 hereof.

DETERMINATION OF BREACH. For the purpose of determining whether or not any warranty made by the Cooperative under the provisions of Section 3.05 3E.05 was false and that the Cooperative is therefore obliged to repurchase any Purchased ContractNote, the Cooperative shall be bound by a written statement of an officer of Statesman that in the reasonable judgment of Statesman it has determined that any obligor under any Purchased Contract Note has refused to make any scheduled payment under such contract Note because of any fact which has been represented as otherwise by the Cooperative to Statesman under the provisions of Section 3.05 3E.05 hereof.

DETERMINATION OF BREACH. For the purpose of determining whether or not ----------------------- any warranty made by the Cooperative under the provisions of Section 3.05 4.10 was false and that the Cooperative is therefore obliged to repurchase any Purchased ContractWholesale Account, the Cooperative shall be bound by a written statement of an officer of Statesman that in the reasonable judgment of Statesman it has determined that any obligor under any Purchased Contract Wholesale Account has refused to make any scheduled payment under such contract because of any fact which has been represented as otherwise by the Cooperative to Statesman under the provisions of Section 3.05 4.10 hereof.