Optional Repurchase and Substitution of 60-Day Plus Delinquent Loans. On any date, pursuant to the Sale Agreement, DFHC shall have the option, but not the obligation, to either: (i) repurchase a 60-Day Plus Delinquent Loan from the Issuer for a price equal to the Repurchase Price therefor, or (ii) substitute one or more Qualified Substitute Timeshare Loans for a 60-Day Plus Delinquent Loan and pay the related Substitution Shortfall Amount, if any.
Appears in 5 contracts
Samples: Indenture (Diamond Resorts International, Inc.), Indenture (Diamond Resorts International, Inc.), Indenture (Diamond Resorts Corp)
Optional Repurchase and Substitution of 60-Day Plus Delinquent Loans. On any date, pursuant to the Sale Agreement, DFHC shall have the option, but not the obligation, to either: (i) repurchase a 60-Day Plus Delinquent Loan from the Issuer for a price equal to the Repurchase Price therefor, or (ii) substitute one or more Qualified Substitute Timeshare Loans for a such 60-Day Plus Delinquent Loan and pay the related Substitution Shortfall Amount, if any.
Appears in 4 contracts
Samples: Fourth Amended and Restated Sale Agreement (Diamond Resorts Corp), Fifth Amended and Restated Sale Agreement (Diamond Resorts International, Inc.), Third Amended and Restated Sale Agreement (Diamond Resorts Corp)
