Mandatory Repurchase. 19 SECTION 6.2.
Mandatory Repurchase. Any Loan Party or the Parent shall have been required to prepay or repurchase, prior to the stated maturity thereof, any such Extension of Credit in accordance with the provisions of any indenture, contract or instrument evidencing, providing for the creation of or otherwise concerning such Extension of Credit.
Mandatory Repurchase. On the first Payment Date following the Termination Date when the Borrowing Base is less than 15% of the Borrowing Base as of the Termination Date, the Seller shall notify the Administrative Agent in writing of its intention to purchase all remaining Collateral. On the Payment Date next succeeding any such notice, the Seller shall (i) terminate all Hedge Transactions in accordance with their terms and (ii) purchase all remaining Collateral for a price equal to the Aggregate Unpaids and the proceeds of such purchase will be deposited into the Collection Account and paid in accordance with Section 2.10.
Mandatory Repurchase. In the event any Person is or becomes the owner of Units in the Company and such ownership would result in the occurrence of any of the prohibited legal consequences in 9.1.4(a)-(d), the Board or the Investment Manager may cause the Company to repurchase the Units of such Person, or require such Person to Transfer their Units to another Person, and each Member consents to such mandatory repurchase or Transfer of Units as set forth in this 9.1.5.
Mandatory Repurchase. (i) If at any time there has occurred a Purchased Asset Issue with respect to any Purchased Asset, then the Asset Value thereof shall automatically be reduced to zero (unless otherwise determined by Buyer in its sole discretion) and Buyer may, in its sole discretion, with notice to the Seller detailing the basis by which Buyer has determined that such Purchased Asset Issue has occurred (as such notice is more particularly set forth below, a “Repurchase Notice”), require Seller to repurchase such asset. In the case of a repurchase, Seller, shall, at Buyer’s direction, be required to repurchase the affected Mortgage Loan as soon as is practicable but, in any case, not more than [***] after Buyer has delivered such Repurchase Notice to Seller. Seller shall be required to notify Buyer as soon as is practicable after obtaining knowledge of any fact that could be the basis for any Purchased Asset Issue, but, in any case, not more than [***] after obtaining knowledge thereof. For the sake of clarity, Seller shall ensure that such Repurchase Price (including without limitation any related expenses of Buyer incurred in connection therewith) is remitted directly to Buyer and not pursuant to Section 5 hereof. Any cash remitted to Buyer pursuant to this Section 3(f) shall be credited and applied to the Repurchase Price of the related Purchased Asset and any other amounts then due and payable by Seller with respect to such Purchased Asset.
(ii) Buyer’s election, in its sole and absolute discretion, not to send a Repurchase Notice at any time a Purchased Asset is no longer an Eligible Mortgage Loan shall not in any way limit or impair its right to send a Repurchase Notice at a later time.
Mandatory Repurchase. Borrower, Parent or any Significant Subsidiary shall have been required to prepay or repurchase, prior to the stated maturity thereof, such Extension of Credit in accordance with the provisions of any indenture, contract or instrument evidencing, providing for the creation of or otherwise concerning such Extension of Credit.
Mandatory Repurchase. 19 Section 6.2 Conveyance of Reassigned Receivables......................... 20 ARTICLE VII
Mandatory Repurchase. If (i) the Remarketing Dealer does not elect to purchase all of the outstanding Securities on any Remarketing Date pursuant to paragraph 2 of this reverse of Security, (ii)(A) the Remarketing Dealer shall not have received in writing by the required time on the relevant Determination Date any firm, committed bids to purchase all of the Securities as described in subparagraph (a) of paragraph 5 of this reverse of Security or (B) no Pricing Agreement shall have been executed, in the event that the Company and the Co-Obligor have given notice to the Remarketing Dealer as provided in subparagraph (b) of paragraph 5 of this reverse of Security, or (iii) for any reason, all of the Securities are not purchased from tendering holders on any Remarketing Date by the Remarketing Dealer (or any other securities dealer or dealers that may be participating in the remarketing), then holders will be required to tender, and the Company and the Co-Obligor will be required to repurchase, on such Remarketing Date, at a price equal to 100% of their principal amount plus any accrued interest, all Securities that have not been purchased by the Remarketing Dealer (or any other securities dealer participating in such remarketing) on such Remarketing Date. Upon payment and delivery of any Securities so repurchased, the outstanding principal amount of the Securities shall be reduced accordingly.
Mandatory Repurchase. (i) In the event of a Loss related to a Purchased Asset, arising from or directly related to a breach by Seller of any of its representations or warranties set forth in the Operative Documents, Seller will, within ten (10) Business Days after receipt of notice of such Loss (such notice to contain in reasonable detail a description of such Loss and the relationship to such underlying breach), without first requiring Purchaser to proceed against any Account Party or any other Person for any security, repurchase the Purchased Asset directly affected thereby and pay Purchaser in cash an amount equal to the net present value of all unpaid remaining scheduled Payments with respect to such Purchased Asset discounted at a per annum rate of 8.28%. Upon receipt of such payment by Seller, Purchaser shall reassign the Purchased Asset, without recourse against or warranty by Purchaser, and shall promptly deliver a release regarding such Purchased Asset to Seller.
(ii) If any Equipment is not insured as contemplated by the Account Documents and Seller is collecting additional amounts from an Account Party instead of requiring the Account Party to effect such insurance, upon any casualty loss with respect to such Equipment, Seller will repurchase the Purchased Asset directly affected thereby and pay Purchaser in cash an amount equal to the net present value of all unpaid remaining scheduled Payments with respect to such Purchased Asset discounted at a per annum rate of 8.28%. Upon receipt of such payment by Seller, Purchaser shall reassign the Purchased Asset, without recourse against or warranty by Purchaser, and shall promptly deliver a release regarding such Purchased Asset to Seller.
Mandatory Repurchase. Subject to the provisions of Section 4.18 of the Indenture, the Company is required to apply the Net Cash Proceeds from certain Asset Sales to the mandatory purchase of the Senior Subordinated Note, at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase.
