Excluded Loans. Each Receivable is not a Receivable originated by or through a Dealer located in the State of Alabama, Maine or Maryland; and
Excluded Loans. Each Receivable (A) is not a Receivable whose related Obligor resides in the State of Alabama (in the case of a Direct Receivable) or a Receivable originated by or through a Dealer located in the State of Alabama (in the case of a Dealer Receivable), and (B) has not been the subject of a previous securitization; and
Excluded Loans. The Parties agree that Seller is not selling, assigning, transferring, conveying or delivering to Buyer, and the acquired Loan Portfolio shall not include (collectively, the “Excluded Loans”),
Excluded Loans. Seller represents that as of the date hereof, that the Designated Loans are not (i) loans in non-accrual status on Seller’s books, loans in which the collateral securing the same has been repossessed or as to which collection efforts have been instituted or claim and delivery or foreclosure proceedings have been filed, or loans as to which insurance on the loan collateral has been force-placed; (ii) loans ninety (90) days or more past due as to principal or interest; (iii) loans which have been classified adversely by any governmental authority or regulatory agency or placed by Seller on any internal “watch list” or similar list of loans causing concern; (iv) loans in connection with which the obligor has filed a petition for relief under the United States Bankruptcy Code, or otherwise has indicated an inability or refusal to pay the Designated Loan as it becomes due, as reflected in the Records relating to such loans; (v) letters of credit, or loans in which Seller participates with another lender, except as specifically offered by Seller and accepted by Purchaser; (vi) loans to borrowers known by Seller to be deceased, as reflected in Records relating to such loans; (vii) loans rejected by Purchaser pursuant to Section 2.8; (viii) blocked lines of credit or commitments; (ix) expired lines of credit or commitments; (x) revolving credit tied to inactive Deposits; (xi) revolving credit to borrowers located outside North Carolina or (xii) loans linked to brokerage accounts (collectively, “Excluded Loans”). Seller shall notify Purchaser within five (5) Business Days if any Designated Loan becomes an Excluded Loan, at which time Purchaser shall have the option to reject such Excluded Loan upon notice to Seller, and Purchaser shall have no further obligation with respect thereto.
Excluded Loans. Each Receivable (A) is not a Chase Connecticut Loan, Chase Florida Loan, Chase Lincoln Loan, Chase Maryland Loan, a Receivable whose related Obligor resides in the State of Alabama (in the case of a Direct Receivable) or a Receivable originated by or through a Dealer located in the State of Alabama (in the case of a Dealer Receivable), and (B) has not been the subject of a previous securitization; and
Excluded Loans. Notwithstanding any provision to the contrary contained in this Operating Agreement, it is the intent of this Agreement that on and after the Closing Date, Banc One shall not be obligated to sell to HomeSide Lending any (a) Subprime Mortgage Loan or related Servicing Rights, (b) Home Equity Loans or related Servicing Rights, (c) open-end real estate secured loan or related servicing rights or (d) home improvement or construction loan or related servicing rights; provided, however, that Banc One represents and warrants that as of the Effective Date, substantially all of the New Mortgage Loans are originated by the Affiliate Mortgage Company.
Excluded Loans. Residential mortgage loans that, as of the Cut-off Date, had one or more of the following features:
Excluded Loans. As of the Cut-off Date, none of the Mortgage Loans were Excluded Loans.
Excluded Loans. Commencing upon the execution of this Agreement and continuing until the Closing Date, Purchaser will be provided an opportunity to review and examine all of the Branch Loans and all Loan Files relating thereto, which review and examination by Purchaser shall be coordinated between Seller and Purchaser so as not to interfere unnecessarily with the normal operations of the Branches or Seller. In the event that, at any time prior to the Closing Date, Purchaser determines that it does not wish to purchase and assume any Branch Loan, whether because such Branch Loan is nonperforming, does not meet Purchaser’s underwriting criteria, or otherwise, then Purchaser may notify Seller in writing that such loan shall be considered an “Excluded Loan” and shall not be included in the Acquired Loans.
Excluded Loans. “Excluded Loans” shall mean the loans identified on Schedule 2.4(b) as Excluded Loans, which schedule shall include, without limitation, the following Excluded Loans: (i) any loan made to Exxxxxxxx, any Affiliate thereof, or any other Person in which Exxxxxxxx or its Affiliates has any ownership interest, (ii) loans that were not made in a manner consistent with Seller’s underwriting and documentation guidelines then in effect at the time of origination or acquisition, and (iii) any loan that does not, in the reasonable discretion of the Buyer, satisfy reasonable underwriting or performance criteria.
