Common use of Procedures for Repurchase Clause in Contracts

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “Ineligible RAL”), HSBC TFS shall accept reassignment of such Participation by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFS, in United States dollars and in funds immediately available at such office at such time, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFS, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or assignment and take other actions as shall reasonably be requested by HSBC TFS to evidence the conveyance of such Participation Interest in the Ineligible RALs, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c). The obligation of HSBC TFS to repurchase Participation Interests in Ineligible RALs in accordance with this Section 4.4(c) shall constitute the sole remedy respecting any breach of the representations and warranties set forth in Section 4.2 available to BFC.

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “"Ineligible RAL”"), HSBC TFS Tax Masters shall accept reassignment of such Participation by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFSTax Masters, in United States dollars and in funds immediately available at such office at such time, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFSTax Masters, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS Tax Masters to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or assignment and take other actions as shall reasonably be requested by HSBC TFS Tax Masters to evidence the conveyance of such Participation Interest in the Ineligible RALs, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c). The obligation of HSBC TFS Tax Masters to repurchase Participation Interests in Ineligible RALs in accordance with this Section 4.4(c) shall constitute the sole remedy respecting any breach of the representations and warranties set forth in Section 4.2 available to BFC.

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “"Ineligible RAL”"), HSBC TFS HTMAC shall accept reassignment of such Participation by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFSHTMAC, in United States dollars and in funds immediately available at such office at such time, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFSHTMAC, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS HTMAC to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or assignment and take other actions as shall reasonably be requested by HSBC TFS HTMAC to evidence the conveyance of such Participation Interest in the Ineligible RALs, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c). The obligation of HSBC TFS HTMAC to repurchase Participation Interests in Ineligible RALs in accordance with this Section 4.4(c) shall constitute the sole remedy respecting any breach of the representations and warranties set forth in Section 4.2 available to BFC.

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) Section 6.2 require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “Ineligible RAL”)Interest, HSBC TFS NA or HSBC Trust shall accept reassignment of purchase such Participation Interest by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL Participation Interest as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFSNA or HSBC Trust, in United States dollars and in funds immediately available at such office at such timefunds, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFSNA or HSBC Trust, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS NA or HSBC Trust to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or and assignment and take other actions as shall reasonably be requested by HSBC TFS NA or HSBC Trust to evidence the conveyance of such Participation Interest in the Ineligible RALsInterest, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c)6.3. The obligation of HSBC TFS NA or HSBC Trust to repurchase Participation Interests in Ineligible HSBC RALs in accordance with this Section 4.4(c) 6.3 shall constitute the sole remedy respecting any breach the occurrence of the representations and warranties set forth events specified in Section 4.2 available to BFC6.1.

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “"Ineligible RAL”"), HSBC TFS BNB and/or Tax Masters shall accept reassignment of such Participation by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFSBNB, in United States dollars and in funds immediately available at such office at such time, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFSBNB and/or Tax Masters, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS BNB and/or Tax Masters to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), ) all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or assignment and take other actions as shall reasonably be requested by HSBC TFS BNB to evidence the conveyance of such Participation Interest in the Ineligible RALs, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c). The obligation of HSBC TFS BNB and/or Tax Masters to repurchase Participation Interests in Ineligible RALs in accordance with this Section 4.4(c) shall constitute the sole remedy respecting any breach of the representations and warranties set forth in Section 4.2 4.1 available to BFC.

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) Section 6.2 require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “Ineligible RAL”)Interest, HSBC TFS shall accept reassignment of purchase such Participation Interest by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL Participation Interest as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFS, in United States dollars and in funds immediately available at such office at such timefunds, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFS, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or and assignment and take other actions as shall reasonably be requested by HSBC TFS to evidence the conveyance of such Participation Interest in the Ineligible RALsInterest, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c)6.3. The obligation of HSBC TFS to repurchase Participation Interests in Ineligible HSBC RALs and HSBC IMAs in accordance with this Section 4.4(c) 6.3 shall constitute the sole remedy respecting any breach the occurrence of the representations and warranties set forth events specified in Section 4.2 available to BFC6.1.

Procedures for Repurchase. When the provisions of Sections 4.4(a) or 4.4(b) Section 6.2 require repurchase of a Participation Interest in a Participated Pool RAL (such Participated Pool RAL being hereinafter referred to as an “Ineligible RAL”)Interest, HSBC TFS HTMAC shall accept reassignment of purchase such Participation Interest by remitting to BFC an amount equal to the Applicable Percentage of the Repurchase Value of the Ineligible RAL Participation Interest as of the date of such repurchase. Such remittance shall be made to BFC at such domestic account designated by BFC by notice to HSBC TFSHTMAC, in United States dollars and in funds immediately available at such office at such timefunds, without setoff, withholding, counterclaim or other deduction of any nature whatsoever. Upon such remittance, BFC shall automatically and without further action be deemed to transfer, assign, set over and otherwise convey to HSBC TFSHTMAC, without recourse, representation or warranty (except for the warranty that since the date of conveyance by HSBC TFS HTMAC to BFC, BFC has not sold, transferred or encumbered any such Participation Interest), all right, title and interest of BFC in and to such Participation Interest. BFC shall execute such documents and instruments of transfer or and assignment and take other actions as shall reasonably be requested by HSBC TFS HTMAC to evidence the conveyance of such Participation Interest in the Ineligible RALsInterest, all monies due or to become due with respect thereto and all proceeds thereof pursuant to this Section 4.4(c)6.3. The obligation of HSBC TFS HTMAC to repurchase Participation Interests in Ineligible HSBC RALs in accordance with this Section 4.4(c) 6.3 shall constitute the sole remedy respecting any breach the occurrence of the representations and warranties set forth events specified in Section 4.2 available to BFC6.1.