Related Clauses

Payment in the Event Losses Fail to Reach Expected Level
Inability to Determine Eurodollar Rate
Inability to Determine Interest Rate
Inability to Determine Rate
Termination for Failure to Pay
Inability to Determine LIBOR Rate
Erroneous Termination for Default
Inability to Determine Applicable Interest Rate
Independence from Material Breach Determination
Failure to Determine Values

Parent Clauses

Seller’s Covenants
Limits on Distributions

Loan Determined to be Defaulted or Defective. Upon discovery by Seller that any Purchased Mortgage Loan is a Defaulted Loan or a Defective Mortgage Loan, Seller shall promptly give notice of such discovery to Buyer.

Appears in 7 contracts

Samples: Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (AmeriHome, Inc.), Master Repurchase Agreement (loanDepot, Inc.)

Loan Determined to be Defaulted or Defective. Upon discovery by Seller that any Purchased Mortgage Loan is ~~a Defaulted Loan~~ In Default or a Defective Mortgage Loan, Seller shall promptly give notice of such discovery to Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (Walker & Dunlop, Inc.)

Loan Determined to be Defaulted or Defective. Upon discovery by Seller that any Purchased Mortgage Loan sold by any Seller hereunder is a Defaulted Loan or a Defective Mortgage Loan, Seller shall promptly give notice of such discovery to ~~Buyer~~Administrative Agent.

Appears in 1 contract

Samples: Master Repurchase Agreement (Lennar Corp /New/)

Common use of Loan Determined to be Defaulted or Defective Clause in Contracts