Common use of Early Repurchase Option Clause in Contracts

Early Repurchase Option. If any of the events described in Sections 12.05 or 12.06 result in Buyer’s request for additional amounts, then Sellers shall have the option to notify Buyer in writing at any time of their intent to terminate all of the Transactions and repurchase all of the Purchased Assets no later than ten (10) Business Days after such notice is given to Buyer, and such repurchase by Sellers shall be conducted pursuant to and in accordance with Section 3.04. The election by Sellers to terminate the Transactions in accordance with this Section 12.09 shall not relieve Sellers for liability with respect to any additional amounts actually incurred by Buyer prior to the actual repurchase of the Purchased Assets, except that, notwithstanding anything to the contrary contained herein or in any other Repurchase Document, there shall be no Exit Fee, prepayment fee, premium or other similar payment due in connection therewith.

Appears in 2 contracts

Samples: Omnibus Amendment to Repurchase Documents (Ares Commercial Real Estate Corp), Master Repurchase and Securities Contract (Ares Commercial Real Estate Corp)

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Early Repurchase Option. If any of the events described in Sections 12.04 or 12.05 or 12.06 result in Buyer’s request for additional amounts, then Sellers shall have the option to notify Buyer in writing at any time of their intent to terminate all of the Transactions and repurchase all of the Purchased Assets no later than ten (10) Business Days after such notice is given to Buyer, and such repurchase by Sellers shall be conducted pursuant to and in accordance with Section 3.04. The election by Sellers to terminate the Transactions in accordance with this Section 12.09 12.0812.09 shall not relieve Sellers for liability with respect to any additional amounts actually incurred by Buyer prior to the actual repurchase of the Purchased Assets, except that, notwithstanding anything to the contrary contained herein or in any other Repurchase Document, there shall be no Exit Fee, prepayment fee, premium or other similar payment due in connection therewith.

Appears in 1 contract

Samples: Master Repurchase and Securities Contract (Ares Commercial Real Estate Corp)

Early Repurchase Option. If any of the events described in Sections 12.04 or 12.05 or 12.06 result in Buyer’s request for additional amounts, then Sellers shall have the option to notify Buyer in writing at any time of their intent to terminate all of the Transactions and repurchase all of the Purchased Assets no later than ten (10) Business Days after such notice is given to Buyer, and such repurchase by Sellers shall be conducted pursuant to and in accordance with Section 3.04. The election by Sellers to terminate the Transactions in accordance with this Section 12.09 12.08 shall not relieve Sellers for liability with respect to any additional amounts actually incurred by Buyer prior to the actual repurchase of the Purchased Assets, except that, notwithstanding anything to the contrary contained herein or in any other Repurchase Document, there shall be no Exit Fee, prepayment fee, premium or other similar payment due in connection therewith.

Appears in 1 contract

Samples: Master Repurchase and Securities Contract (Ares Commercial Real Estate Corp)

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Early Repurchase Option. If any of the events described in Sections 12.04 or 12.05 or 12.06 result in Buyer’s 's request for additional amounts, then Sellers Seller shall have the option to notify Buyer in writing at any time of their its intent to terminate all of the Transactions and repurchase all of the Purchased Assets no later than ten (10) Business Days after such notice is given to Buyer, and such repurchase by Sellers Seller shall be conducted pursuant to and in accordance with Section 3.04. The election by Sellers Seller to terminate the Transactions in accordance with this Section 12.09 12.08 shall not relieve Sellers Seller for liability with respect to any additional amounts actually incurred by Buyer prior to the actual repurchase of the Purchased Assets, except that, notwithstanding anything to the contrary contained herein or in any other Repurchase Transaction Document, there shall be no Exit Fee, prepayment fee, premium or other similar payment due in connection therewith.. ARTICLE 13

Appears in 1 contract

Samples: Master Repurchase and Securities Contract (Ares Commercial Real Estate Corp)

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