Common use of Limitations on Purchase of Defaulted Loans Clause in Contracts

Limitations on Purchase of Defaulted Loans. The amount of Defaulted Loans for which the Issuer is permitted to obtain a release and transfer to a Seller is limited as provided in the WVRI Master Loan Purchase Agreement and the WRDC Master Loan Purchase Agreement and as follows: (i) The Loan Balance of Pledged Loans that are WVRI Loans, that become Defaulted Loans and that are released and transferred to any Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that were WVRI Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan; and (ii) The Loan Balance of Pledged Loans that are WRDC Loans, that become Defaulted Loans and that are released and transferred to any Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that were WRDC Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan.

Limitations on Purchase of Defaulted Loans. The amount of Defaulted Loans for which the Issuer is permitted to obtain a release and transfer to a Seller is limited as provided in the WVRI Fairfield Master Loan Purchase Agreement and the WRDC Trendwest Master Loan Purchase Agreement and as follows: (i) The Loan Balance of Pledged Loans that are WVRI Loans, that which become Defaulted Loans and that which are released and transferred to any FAC, as Seller, shall not exceed in the aggregate 16.010.5% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that which were WVRI Fairfield Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan; and (ii) The Loan Balance of Pledged Loans that are WRDC Loans, that which become Defaulted Loans and that which are released and transferred to any Trendwest, as Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that which were WRDC Trendwest Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan.

Limitations on Purchase of Defaulted Loans. The amount of Defaulted Loans for which the Issuer is permitted to obtain a release and transfer to a Seller is limited as provided in the WVRI Fairfield Master Loan Purchase Agreement and the WRDC Trendwest Master Loan Purchase Agreement and as follows: (i) The Loan Balance of Pledged Loans that are WVRI Loans, that which become Defaulted Loans and that which are released and transferred to any CTRG-CF, as Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that which were WVRI Fairfield Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan; and (ii) The Loan Balance of Pledged Loans that are WRDC Loans, that which become Defaulted Loans and that which are released and transferred to any Trendwest, as Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that which were WRDC Trendwest Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan.

Limitations on Purchase of Defaulted Loans. The amount of Defaulted Loans for which the Issuer is permitted to obtain a release and transfer to a Seller is limited as provided in the WVRI Fairfield Master Loan Purchase Agreement and the WRDC Trendwest Master Loan Purchase Agreement and as follows: (i) The Loan Balance of Pledged Loans that are WVRI Loans, that which become Defaulted Loans and that which are released and transferred to any WCF, as Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that which were WVRI Fairfield Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan; and (ii) The Loan Balance of Pledged Loans that are WRDC Loans, that which become Defaulted Loans and that which are released and transferred to any Trendwest, as Seller, shall not exceed in the aggregate 16.0% of the Loan Balance of the Pledged Loans as of the Cut-Off Date that which were WRDC Trendwest Loans; for such purposes, the Loan Balance of a Pledged Loan shall be calculated on the day prior to the day the Pledged Loan became a Defaulted Loan.