Common use of Optional Sales of Loans Clause in Contracts

Optional Sales of Loans. (a) At its option, any Loan may be sold by the Issuer to Hercules (or any of its Affiliates) or a third party if: (i) such Loan becomes a Defaulted Loan; (ii) such Loan becomes a Delinquent Loan; (iii) such Loan becomes a Restructured Loan; or (iv) the Issuer (or the Servicer on its behalf), in its discretion, elects to sell the Loan. (b) No optional sale of any Loan (whether to Hercules, any of its affiliates, or a third party) may be executed for a price less than the sum of (i) the Outstanding Loan Balance of such Loan and (ii) interest accrued to the date of such sale on the principal balance of such Loan at the interest rate applicable to such Loan, and any such sale shall be subject to the further limitations described in Section 2.10 below. The Sale Proceeds from any sale pursuant to this Section 2.05(a) will be deposited into the Collection Account and allocated as provided in Section 7.06. Upon receipt by the Servicer for deposit in the Collection Account of the amounts of Sale Proceeds received in connection with any such sale, the Servicer shall request and the Issuer and the Trustee shall assign to the party designated by the Servicer (or to the Servicer itself) all of the Issuer’s and Trustee’s right, title and interest in the repurchased Loan and related Loan Assets without recourse, representation or warranty. Thereafter, such reassigned Loan shall no longer be included in the Collateral.

Optional Sales of Loans. (a) At its option, any Loan may be sold by the Issuer to Hercules (or any of its Affiliates) or a third party if: (i) such Loan becomes a Defaulted Loan; (ii) such Loan becomes a Delinquent Loan; (iii) such Loan becomes a Restructured Loan; or (iv) the Issuer (or the Servicer on its behalf)Issuer, in its discretion, elects to sell the Loan. (b) No optional sale of any Loan (whether to Hercules, any of its affiliates, or a third party) may be executed for a price less than the sum of (i) the Outstanding Loan Balance of such Loan and (ii) interest accrued to the date of such sale on the principal balance of such Loan at the interest rate applicable to such Loan, and any such sale shall be subject to the further limitations described in Section 2.10 2.09 below. The Sale Proceeds from any sale pursuant to this Section 2.05(a) will be deposited into the Collection Account and allocated as provided in Section 7.067.05. Upon receipt by the Servicer for deposit in the Collection Account of the amounts of Sale Proceeds received in connection with any such sale, the Servicer shall request and the Issuer and the Trustee shall assign to the party designated by the Servicer (or to the Servicer itself) all of the Issuer’s and Trustee’s right, title and interest in the repurchased Loan and related Loan Assets without recourse, representation or warranty. Thereafter, such reassigned Loan shall no longer be included in the Collateral.

Optional Sales of Loans. (a) At its option, any Loan may be sold by the Issuer to Hercules Horizon (or any of its Affiliates) or a third party if: (i) such Loan becomes a Defaulted Loan; (ii) such Loan becomes a Delinquent Loan; (iii) such Loan becomes a Restructured Loan; or (iv) the Issuer (or the Servicer on its behalf)Issuer, in its discretion, elects to sell the Loan. (b) No optional sale of any Loan (whether to HerculesHorizon, any of its affiliates, or a third party) may be executed for a price less than the sum of (i) the Outstanding Loan Balance of such Loan and (ii) interest accrued to the date of such sale on the principal balance of such Loan at the interest rate applicable to such Loan, and any such sale shall be subject to the further limitations described in Section 2.10 2.09 below. The Sale Proceeds from any sale pursuant to this Section 2.05(a) will be deposited into the Collection Account and allocated as provided in Section 7.067.05. Upon receipt by the Servicer for deposit in the Collection Account of the amounts of Sale Proceeds received in connection with any such sale, the Servicer shall request and the Issuer and the Trustee shall assign to the party designated by the Servicer (or to the Servicer itself) all of the Issuer’s and Trustee’s right, title and interest in the repurchased Loan and related Loan Assets without recourse, representation or warranty. Thereafter, such reassigned Loan shall no longer be included in the Collateral.

Optional Sales of Loans. (a) At its option, any Loan may be sold by the Issuer to Hercules (or any of its Affiliates) or a third party if: (i) such Loan becomes a Defaulted Loan; (ii) such Loan becomes a Delinquent Loan; (iii) such Loan becomes a Restructured Loan; or (iv) the Issuer (or the Servicer on its behalf)Issuer, in its discretion, elects to sell the Loan. (b) No optional sale of any Loan (whether to Hercules, any of its affiliates, or a third party) may be executed for a price less than the sum of (i) the Outstanding Loan Balance of such Loan and (ii) interest accrued to the date of such sale on the principal balance of such Loan at the interest rate applicable to such Loan, and any such sale shall be subject to the further limitations described in Section 2.10 below. The Sale Proceeds from any sale pursuant to this Section 2.05(a) will be deposited into the Collection Account and allocated as provided in Section 7.06. Upon receipt by the Servicer for deposit in the Collection Account of the amounts of Sale Proceeds received in connection with any such sale, the Servicer shall request and the Issuer and the Trustee shall assign to the party designated by the Servicer (or to the Servicer itself) all of the Issuer’s and Trustee’s right, title and interest in the repurchased Loan and related Loan Assets without recourse, representation or warranty. Thereafter, such reassigned Loan shall no longer be included in the Collateral.

Optional Sales of Loans. (a) At its option, any Loan may be sold by the Issuer to Hercules (or any of its Affiliates) or a third party if: (i) such Loan becomes a Defaulted Loan; (ii) such Loan becomes a Delinquent Loan; (iii) such Loan becomes a Restructured Loan; or (iv) the Issuer (or the Servicer on its behalf), in its discretion, elects to sell the Loan. (b) No optional sale of any Loan (whether to Hercules, any of its affiliates, or a third party) may be executed for a price less than the sum of (i) the Outstanding Loan Balance of such Loan and (ii) interest accrued to the date of such sale on the principal balance of such Loan at the interest rate applicable to such Loan, and any such sale shall be subject to the further limitations described in Section 2.10 below. The Sale Proceeds from any sale pursuant to this Section 2.05(a) will be deposited into the Collection Account and allocated as provided in Section 7.06. Upon receipt by the Servicer for deposit in the Collection Account of the amounts of Sale Proceeds received in connection with any such sale, the Servicer shall request and the Issuer and the Trustee shall assign to the party designated by the Servicer (or to the Servicer itself) all of the Issuer’s and Trustee’s right, title and interest in the repurchased Loan and related Loan Assets without recourse, representation or warranty. Thereafter, such reassigned Loan shall no longer be included in the Collateral.

Optional Sales of Loans. (a) At its option, any Loan may be sold by the Issuer to Hercules Horizon (or any of its Affiliates) or a third party if: (i) such Loan becomes a Defaulted Loan; (ii) such Loan becomes a Delinquent Loan; (iii) such Loan becomes a Restructured Loan; or (iv) the Issuer (or the Servicer on its behalf), in its discretion, elects to sell the Loan. (b) No optional sale of any Loan (whether to HerculesHorizon, any of its affiliates, or a third party) may be executed for a price less than the sum of (i) the Outstanding Loan Balance of such Loan and (ii) interest accrued to the date of such sale on the principal balance of such Loan at the interest rate applicable to such Loan, and any such sale shall be subject to the further limitations described in Section 2.10 below. The Sale Proceeds from any sale pursuant to this Section 2.05(a) will be deposited into the Collection Account and allocated as provided in Section 7.06. Upon receipt by the Servicer for deposit in the Collection Account of the amounts of Sale Proceeds received in connection with any such sale, the Servicer shall request and the Issuer and the Trustee shall assign to the party designated by the Servicer (or to the Servicer itself) all of the Issuer’s and Trustee’s right, title and interest in the repurchased Loan and related Loan Assets without recourse, representation or warranty. Thereafter, such reassigned Loan shall no longer be included in the Collateral.