Notice to Seller. Buyer shall notify Seller of each Loan with respect to which Buyer seeks repurchase. Such notice shall be on Buyer's letterhead paper and include the following information: (a) Buyer's tax identification number, (b) Buyer's wire transfer instructions, (c) the subsection under Section 7.1 hereof for which Buyer is seeking repurchase and (d) a summary of the reasons Buyer believes that the Loan(s) should be repurchased. The notice shall be accompanied by evidence supporting the basis for repurchase of such Loan. Promptly upon request by Seller, Buyer shall supply Seller with any additional evidence that Seller may require. Seller shall have no obligation to repurchase any Loan pursuant to this Article VII for which notice and all supporting evidence reasonably required by Seller have not been received by Seller at the addresses specified in Sections 8.2 and 8.3 hereof no later than the first Business Day after the expiration of 180 calendar days after the Loan Sale Closing Date, or in the case of a Contract for Deed, the first Business Day after the expiration of 360 calendar days after the Loan Sale Closing Date.
Appears in 2 contracts
Samples: Loan Sale Agreement (Resource America Inc), Loan Sale Agreement (Usb Holding Co Inc)
Notice to Seller. Buyer shall must notify Seller of each Loan with respect to which Buyer Xxxxx seeks repurchase. Such notice shall must be on Buyer's Xxxxx’s letterhead paper and include the following information: (a) Buyer's ’s tax identification number, (b) Buyer's ’s wire transfer instructions, (c) the subsection under Section 7.1 hereof for which Buyer is seeking repurchase repurchase, and (d) a summary of the reasons Buyer Xxxxx believes that the Loan(s) should be repurchased. The notice shall must be accompanied by evidence supporting the basis for repurchase of such Loan. Promptly upon request by Seller, Buyer shall must supply Seller with any additional evidence that Seller may require. Seller shall have has no obligation to repurchase any Loan pursuant to this Article VII for which notice and all supporting evidence reasonably required by Seller have not been received by Seller at the addresses specified in Sections Section 8.2 and Section 8.3 hereof no later than the first Business Day after the expiration of 180 calendar days after the Loan Sale Closing Date, or in the case of a Contract for Deed, the first Business Day after the expiration of 360 calendar days one year after the Loan Sale Closing Date.
Appears in 1 contract
Samples: Loan Sale Agreement
Notice to Seller. Buyer shall must notify Seller of each Loan with respect to which Buyer seeks repurchase. Such notice shall must be on Buyer's ’s letterhead paper and include the following information: (a) Buyer's ’s tax identification number, (b) Buyer's ’s wire transfer instructions, (c) the subsection under Section 7.1 hereof for which Buyer is seeking repurchase repurchase, and (d) a summary of the reasons Buyer believes that the Loan(s) should be repurchased. The notice shall must be accompanied by evidence supporting the basis for repurchase of such Loan. Promptly upon request by Seller, Buyer shall must supply Seller with any additional evidence that Seller may require. Seller shall have has no obligation to repurchase any Loan pursuant to this Article VII for which notice and all supporting evidence reasonably required by Seller have not been received by Seller at the addresses specified in Sections Section 8.2 and Section 8.3 hereof no later than the first Business Day after the expiration of 180 calendar days after the Loan Sale Closing Date, or in the case of a Contract for Deed, the first Business Day after the expiration of 360 calendar days one year after the Loan Sale Closing Date.
Appears in 1 contract
Samples: Loan Sale Agreement