Loan Purchase. (a) Prior to January 1, 1998 and prior to the issuance by CMGFC of its stock or units including its stock in anticipation of CMGFC electing Real Estate Investment Trust status (the "REIT Issuance"), in connection with any Securitization, CTS or an affiliate thereof (the "Purchaser") shall have the right to purchase from CMGFC, at CTS's sole option, an amount of Loans (the "Purchased Loans") representing up to 75% of the Loans, by principal balance, intended to be securitized in such Securitization (however, in individual transactions, the percentage so purchased may vary by as much as 5% from the level specified for such year), or such greater amount as agreed to by CMGFC and the Agent, immediately prior to their transfer for such Securitization.
(b) On or after January 1, 1998 and prior to the earlier to occur of (i) the REIT Issuance, or (ii) January 1, 2002, during each month the Purchaser shall have the right to purchase from CMGFC, at CTS's sole option, an amount of Loans (also the "Purchased Loans") representing up to 50% of the Loans which are originated or acquired by CMGFC during such month, by principal balance (the "Monthly Purchase Target"), or such greater amount as agreed to by CMGFC and the Agent.
(c) On or after the REIT Issuance, and through and including December 31, 2001, during each month the Purchaser shall have the right to purchase from CMGFC, at CTS's sole option, an amount of Loans (also the "Purchased Loans") representing up to 75% of the Loans that are fixed rate loans which are originated or acquired by CMGFC during such month, by principal balance (also the "Monthly Purchase Target"), or such greater amount as agreed to by CMGFC and the Agent. CMGFC may also use Loans which are adjustable rate loans ("ARM Loans") to satisfy the Monthly Purchase Target for any month by offering to sell such Loans to the Purchaser, provided that the ARM Loans, by principal balance, represent no more than 50% of the related Monthly Purchase Target.
(d) On or after January 1, 1998, and through and including December 31, 2001, on the fifth business day after the close of each calendar quarter, to the extent that the (i) sum of the Monthly Purchase Targets for the months in the previous calendar quarter, exceeds (ii) the aggregate principal balance of eligible Loans offered for sale by CMGFC to the Purchaser during such calendar quarter in accordance with the terms of this Investment Banking Services Agreement, then CMGFC shall promptly pay to CTS a ...
Loan Purchase. As of the Effective Date, GSMC (without, except as expressly set forth herein and in the Assignment and Assumption Agreement, any representation, warranty or recourse) agrees to sell (pursuant to the Assignment and Assumption Agreement) to BAMI, and BAMI agrees to purchase, all of GSMC’s right, title and interest as Lender in the Loans and related rights and obligations pursuant to the Assigned Credit Documents; provided, that, GSMC shall continue to have full rights pursuant to, and benefits of, Section 10.3 of the Credit Agreement. Such sale and purchase shall be made in consideration of the Purchase Price as defined and set forth on Schedule 1 hereto, which shall be payable on the Effective Date to GSMC by BAMI, in immediately available funds, to the account of GSMC specified in Schedule 1 hereto.
Loan Purchase. Table Funder shall purchase from Renasant Bank any Loan that Table Funder originated in violation of any term, condition, representation or warranty of this Agreement. The purchase price shall be equal to the unpaid principal balance of the Loan, any premium paid to Table Funder by Renasant Bank, plus any accrued but unpaid interest due on the date of purchase. Table Funder shall pay the purchase price to Renasant Bank within five (5) calendar days of Renasant Bank’s request.
Loan Purchase. Consummation of the acquisition of the Loans by Purchaser from Seller in accordance with the terms of the Loan Purchase Agreement and the acquisition of the REIT Loans by Purchaser from REIT in accordance with the terms of the REIT Loan Purchase Agreement.
Loan Purchase. In the event Purchaser elects for Purchaser or its designee to acquire the Loan (whether with or without a Partial Paydown Amount), (i) if Seller or 191 Finance Associates, L.P. does not have the original Note to deliver, an affidavit and indemnity in form reasonably acceptable to Purchaser that the original Note has been lost and attached thereto is a copy believed to be a true and correct copy of the Note, (ii) an endorsement of the Note to the order of Purchaser or its designee, and (iii) an assignment to Purchaser or its designee of the Security Deed and all other Loan Documents in the form attached hereto as Schedule 8. In the event Purchaser does not elect to acquire the Loan, Seller shall cause the Note to be canceled, the Security Deed satisfied of record and the other Loan Documents terminated.
Loan Purchase. A. Lender hereby agrees to lend the Principal Amount to the Company until November 25, 2000 or such earlier date ("Accelerated Maturity Date") as the Company or an affiliate receives proceeds of $1,117,602 from a financing. Such Principal Amount shall bear interest at the rate of nine and one-half (9.5%) percent per annum payable when the Principal Amount is paid.
B. The loan shall be represented by a secured note and secured by (1) all the shares of the Company's wholly owned subsidiary Teltran Web Factory Limited pursuant to pledge or Charge Over Share Agreement under the laws of England and Wales are (2) shares of the Company and Antra Holdings Group, Inc. pursuant to a separate Stock Pledge Agreement.
C. For additional consideration of $2,500 payable July 1, 2000 the Company shall also issue five year warrants to Lender to purchase 250,000 shares (the "Shares") of Common Stock of the Company at $1.10 per share.
D. Lender shall also have the right to purchase shares of entity to be organized to operate and ultimately own financial software currently owned by the Company's subsidiary Teltran Web Factory Limited. The percentage of ownership and consideration therefore shall be determined by the parties.
Loan Purchase. Without limiting the foregoing, Lender specifically agrees that, upon sale of Non-Referral Start Education Loans or EB Loans in a Securitization Transaction pursuant to the Program Agreements, Lender shall have no further interest in the customer relationship with the borrowers thereunder (hereinafter the “Borrowers”) and shall not use information obtained under this Agreement to solicit such Borrowers for any purpose. The foregoing restrictions on solicitations applies only to use of information obtained pursuant to this Agreement and the Program Agreements. Lender shall not be restricted from utilizing other sources of contact information for Borrowers, including, without limitation, any other relationship such Borrowers may have with Lender or their inclusion on a contact list purchased by Lender. Lender acknowledges that, upon sale of Non-Referral Start Education Loans or EB Loans in a Securitization Transaction pursuant to the Program Agreements, Program Manager shall have a customer relationship with the Borrowers and restrictions upon Program Manager’s use of Customer Information pursuant to this Section 10 shall no longer apply with respect to such Borrowers.
Loan Purchase. During the Term of Exclusivity, in connection with any Securitization, CTS or an affiliate thereof (the "Purchaser") shall have the right to purchase from CMGFC, at CTS's sole option, an amount of Loans (the "Purchased Loans") representing up to (A) 75%, during and prior to 1997, (B) 50%, during 1998, and (C) 25%, during 1999 and thereafter, of the Loans, by principal balance, intended to be securitized in such Securitization (however, in individual transactions, the percentage so purchased may vary by as much as 5% from the level specified for such year), or such greater amount as agreed to by CMGFC and the Agent, immediately prior to their transfer for such Securitization. The Purchased Loans will be selected so as to be representative in all respects to the Loans being securitized in such Securitization. The Purchaser shall pay CMGFC an amount equal to the fair market value of the Purchased Loans as the purchase price therefor. If CMGFC questions the Purchaser's determination of the fair market value of the Purchased Loans, CMGFC and the Purchaser will agree to reexamine such determination if CMGFC demonstrates that such determination is materially different from the prices bid by two or more separate unrelated third party investors who have extended binding offers to purchase such Purchased Loans. The sale of the Purchased Loans will be effected through a purchase agreement wherein CMGFC will provide the Purchaser with (i) the same representations and warranties with respect to the Purchased Loans as will be provided in the Securitization to the Issuer, with respect to the Loans securitized thereunder, (ii) indemnification for any liabilities resulting from the breach of such representations and warranties, and (iii) the right to assign such representations and warranties and such right to indemnification to any assignee of the Purchaser. The Purchaser shall have the right (x) to deposit the Purchased Loans into the Issuer effecting such Securitization, (y) to assign the rights described in clause (iii) above to the Issuer in lieu of being required to separately provide such representations and warranties and such indemnification and (z) to receive in consideration therefor a fractional portion of the total amount of (A) the Residual Interest and the I/O Interests issued in such Securitization, (B) the other Securities issued in such Securitization which were not sold to the public or the underwriters or privately placed with third persons, and (C) the...
Loan Purchase. Section 10 of the Investment Banking Services Agreement shall be replaced in its entirety with the following:
