Ineligible Assets. To the extent that an REO Property fails to remain an Eligible Asset due to a material breach of Schedule 1-A(k) (Environmental Matters) which could result in material liability to the REO Subsidiary, the beneficial interest shall be repurchased or otherwise acquired by Guarantor within three (3) Business Days thereof.
Ineligible Assets. The Seller shall promptly, and in any event not later than the next Guarantor Payment Date, notify the Purchaser, the Servicer and Cash Manager (in each case if other than the Seller) and the Bond Trustee after determining that any Purchased Asset did not meet the Eligibility Criteria on the applicable Purchase Date for such Purchased Asset.
Ineligible Assets. By written notice to the other party on or before the fifth Business Day following the Closing Date, Company or Insurer may identify as an Ineligible Asset any asset that was transferred to Insurer as part of the Closing Date Transfers, and the parties will work in good faith for seven (7) Business Days following the receipt of such notice to agree on which, if any, assets constituting part of the Closing Date Transfers are Ineligible Assets. If the parties agree that an asset is an Ineligible Asset within such seven (7) Business Days following the receipt of such notice, then, on or before the date that is three (3) Business Days following such agreement, Independent Fiduciary will direct the Plan Trustee to promptly pay or cause to be paid to Insurer an amount, in Cash, per instructions in Schedule 7, equal to the Transferred Asset Market Value of each such asset, and, simultaneously with receipt of such payment, Insurer will return each such asset to the Plan Trust together with any Interim Asset Cash Flows associated with such asset.
Ineligible Assets. The Asset Value of a Purchased Asset shall be zero if:
Ineligible Assets. [__________]*. *Information marked with an asterisk herein has been omitted and filed separately with the Commission pursuant to a request for confidential treatment.
Ineligible Assets. By written notice to the other party on or before the [***] Business Day following the Premium Due Date, the Committee or an Insurer may identify as an Ineligible Asset any asset that was transferred to such Insurer as part of the applicable Premium Due Date Transfers and such parties will work in good faith for [***] Business Days following the receipt of such notice to agree on which, if any, assets constituting part of such Premium Due Date Transfers are Ineligible Assets. If the Committee and an Insurer agree that an asset is an Ineligible Asset within such [***] Business Days following the receipt of such notice, then, on or before the date that is [***] Business Days following such agreement, the Committee will irrevocably direct the Plan Trustee to promptly pay or cause to be paid to such Insurer an amount, in Cash, per the Transfer Instructions, equal to [***], and, simultaneously with receipt of such payment, such Insurer will return each such asset to the Plan Trust together with any Interim Asset Cash Flows associated with such asset. The Committee and such Insurer will reflect in the applicable Contract the removal of any Ineligible Asset from the “Cash and Transferred Assets Exhibit” to such Contract. The Committee and the applicable Insurer will use [***] efforts to resolve any dispute with respect to any Ineligible Asset.
Ineligible Assets. Notwithstanding anything to the contrary set forth in the Existing Repurchase Agreement, the Purchased Assets listed on Annex A hereto, other than the Purchased Asset listed as “Vista Shops” on Annex A hereto, shall be deemed to have an Asset Value of zero (0) at the end of the Temporary Increase Period; provided, however, that the Purchased Asset listed as “Vista Shops” on Annex A hereto shall be deemed to have an Asset Value of zero (0) on January 29, 2016. For the avoidance of doubt, if such “Vista Shops” Purchased Asset is repurchased and refinanced into a new Mortgage Loan and such new asset becomes subject to a new Transaction, such new Purchased Asset shall not be subject to this Section 2.
Ineligible Assets. Notwithstanding anything to the contrary set forth in the Existing Repurchase Agreement, the Purchased Assets listed on Annex A hereto, other than the Purchased Assets listed as “Vista Shops” and “Shoppes of Perry” on Annex A hereto, shall be deemed to have an Asset Value of zero (0) at the end of the Temporary Increase Period, as defined in Amendment No. 4 to Master Repurchase Agreement, dated as of November 13, 2015; provided, however, that (i) the Purchased Asset listed as “Vista Shops” on Annex A hereto shall be deemed to have an Asset Value of zero (0) on January 29, 2016, and (ii) the Purchased Asset listed as “Shoppes of Perry” on Annex A hereto shall be deemed to have an Asset Value of zero (0) on February 29, 2016. For the avoidance of doubt, if such “Vista Shops” or “Shoppes of Perry” Purchased Asset is repurchased and refinanced into a new Mortgage Loan and such new asset becomes subject to a new Transaction, such new Purchased Asset shall not be subject to this Section 2.
Ineligible Assets. The Originator shall promptly, and in any event not later than the next Payment Date, notify the Acquirer after determining that any Purchased Asset did not meet the Eligibility Criteria on the applicable Purchase Date for such Purchased Asset.
Ineligible Assets. To the extent that an REO Property fails to remain an Eligible Asset due to a material breach of Schedule 1-A(k) (Environmental Matters) which could result in material liability to the any Seller Party, such asset shall be repurchased by Seller within ten (10) Business Days thereof.
