Purchase of Loan Sample Clauses

Purchase of Loan. In the event Eligible Employee’s employment has terminated, Employer shall promptly notify Xxxxx Fargo Home Equity in writing and Employer is obligated to purchase the Loan. Within ten (10) days of its receipt of such notification, Xxxxx Fargo Home Equity shall notify Employer in writing of the purchase price for such Loan. In the event that the Eligible Employee has defaulted in his/her obligations under the Loan Documents, Xxxxx Fargo Home Equity shall notify the Employer in writing of the default and the amount of the purchase price for such Loan. The purchase price shall equal the unpaid principal balance of such Loan plus all accrued and unpaid interest, unpaid closing costs, as well as costs, and expenses, if any, thereon up to the date that Xxxxx Fargo Home Equity sells, transfers and assigns the Loan to Employer. Employer shall remit payment for any purchased Loan to Xxxxx Fargo Home Equity by wire or Employer’s check within thirty (30) days of receipt of notification by Xxxxx Fargo Home Equity of the purchase price of the Loan..
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Purchase of Loan. Upon the expiry of the Option, Holdco may, upon delivery of a written notice to the Lender, purchase for the aggregate purchase price of $1.00, all of the Lender's right, title and interest in and to the Loan, this Agreement, the Security, and any other document, instrument, registration or security delivered or made pursuant to or in CONNECTION with the Loan, this Agreement or the Security. The sale of the Loan shall take place within the time period provided for in the notice referred to in the foregoing sentence and the Lender shall take such action and execute and deliver to Holdco such agreements, conveyances, registrations, deeds and other documents and instruments as Holdco may request to give effect to the provisions of this section.
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Purchase of Loan. In consideration of the payment by Purchaser to Seller by wire transfer to Seller's account on the Closing Date in immediately available funds the sum set forth on the closing statement set forth on Schedule II hereof (the "Purchase Price") and satisfaction of all of the terms and conditions set forth herein, Seller shall sell, assign and transfer on an as-is, where-is basis, without recourse, representation or warranty, expressed or implied, except the representations and warranties expressly made by Seller in favor of Purchaser herein and in the documents executed and delivered to Purchaser in connection herewith (collectively, the "Express Warranties"), all of Seller's right, title and interest in and to the Loan and the Loan Documents. On and prior to the Closing Date, all payments, penalties or credits received by or for the account of Seller in connection with the Loan which are due and payable on or prior to the Closing Date shall be the property of Seller without adjustment to the Purchase Price. All payments, penalties or credits received by Seller in connection with the Loan after the Closing Date, except for the receipt by Seller of the Purchase Price from Purchaser, shall be held by Seller in trust for Purchaser and promptly remitted to Purchaser in the form received by Seller, except that, with respect to all checks, drafts or other instruments, Seller shall provide all necessary endorsements, without representation, warranty or recourse, to enable Purchaser to negotiate the same.
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Purchase of Loan. Assignor hereby sells, transfers and assigns to Assignee, and Assignee hereby purchases from Assignor, all right, title and interest of Assignor in, to and under the Loan Documents. Assignee hereby assumes all of Assignor’s obligations under the Loan Documents.
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Purchase of Loan. GECC shall purchase the First Amended Note and the interests of Great Oak under the Mortgages and the other Loan Documents from Great Oak for Eighty Million and No/100 Dollars ($80,000,000.00), subject to the following conditions:
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Purchase of Loan. Seller hereby agrees to sell to Purchaser, and Purchaser hereby agrees to purchase from Seller, all of Seller's right, title and interest in the Loan and the Loan Documents, at the Closing (as hereinafter defined), subject to the terms and conditions set forth in this Agreement. The closing of the sale of the Loan and the Loan Documents (the "Closing") shall occur on the later to occur of (a) five (5) days after the date the owners of the property encumbered by the Deeds of Trust (the "Property") enter into a formal contract of sale with the Seller for the purchase of the Property by the Seller or its assigns, which contract is acceptable to Purchaser in all respects in its discretion (the "Property Purchase Agreement") or (b) April 10, 1998; provided, however, in no event later than May 15, 1998 (the "Closing Date"). At the Closing, Seller shall sell, assign and transfer to Purchaser, all of Seller's right, title and interest in and to the Loan, the Loan Documents, the Reversionary Interests, the Property Purchase Agreement and all existing and future claims arising out of the Loan against the Borrower, the Guarantors or any other person liable for repayment of the Loan or the performance of Borrower's obligations thereunder. The Closing shall occur at Purchaser's offices in Columbia, Maryland or, at Seller's option, pursuant to an escrowed closing under escrow instructions consistent with the terms of this Agreement and otherwise mutually acceptable to Seller and Purchaser. Prior to the Closing, Seller may not modify the terms of the Loan, the Reversionary Interests or the Property Purchase Agreement (once approved by the Purchaser pursuant to Section 5(e) hereof) in any manner without the prior written consent of the Purchaser.
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Purchase of Loan. In consideration of (i) the payment of the Purchase Price (as defined on Schedule I hereof) by Purchaser to Seller by wire transfer to Seller’s account on the Closing Date in immediately available funds, and (ii) Purchaser’s satisfaction of all of the terms and conditions set forth herein, Seller shall sell, assign and transfer to Purchaser all of Seller's right, title and interest in and to the Loan and the Loan Documents. In the event that Seller receives any payment, penalty, credit or any other amount in connection with the Loan after the Closing Date, except for the receipt by Seller of the total Purchase Price, Seller shall promptly remit to Purchaser the dollar amount of such payment, penalty, credit or other amount
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Related to Purchase of Loan

  • Purchase of Note On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages hereto.

  • SALE/PURCHASE OF INITIAL LOANS (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Initial Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding of the Initial Xxxx of Sale and (ii) the payment by Funding to Town Hall Funding of the Initial Payment. Upon consummation, such sale and purchase shall be effective as of the date of the Initial Xxxx of Sale. Town Hall Funding and Funding shall use their best efforts to perform promptly their respective obligations pursuant to the Initial Purchase Agreement with respect to each Initial Loan.

  • Purchase of Bonds The Company may at any time, and from time to time, furnish moneys to the Trustee accompanied by a notice directing the Trustee to apply such moneys to the purchase in the open market of Bonds in the principal amounts specified in such notice, and any Bonds so purchased shall thereupon be canceled by the Trustee.

  • Purchase of Notes The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes.

  • Purchase of Notes and Warrants On the Closing Date, the Subscriber will purchase the Notes and Warrants as principal for its own account for investment only and not with a view toward, or for resale in connection with, the public sale or any distribution thereof.

  • Optional Purchase of Certain Mortgage Loans With respect to any Mortgage Loans which as of the first day of a Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC shall have the right to purchase any Mortgage Loan from the Trust which becomes 90 days or more delinquent or becomes an REO Property at a price equal to the Purchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Fiscal Quarter. In addition, EMC shall, at its option, purchase any Mortgage Loan from the Trust if the first Due Date for such Mortgage Loan is subsequent to the Cut-off Date and the initial Scheduled Payment is not made within thirty (30) days of such Due Date. Such purchase shall be made at a price equal to the Purchase Price. If at any time EMC remits to the Master Servicer a payment for deposit in the Protected Account covering the amount of the Purchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Protected Account, then the Trustee shall execute the assignment of such Mortgage Loan prepared and delivered to the Trustee, at the request of EMC, without recourse, representation or warranty, to EMC which shall succeed to all the Trustee’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

  • Purchase of the Units (a) The Company agrees to issue and sell the Underwritten Units to the several Underwriters as provided in this underwriting agreement (this “Agreement”), and each Underwriter, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase at a price per Unit of $9.80 (the “Purchase Price”) from the Company the respective number of Underwritten Units set forth opposite such Underwriter’s name in Schedule 1 hereto.

  • Acknowledgment Regarding Investor’s Purchase of Securities The Company acknowledges and agrees that Investor is acting solely in the capacity of arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any statement made by Investor or any of its representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation and is merely incidental to Investor’s purchase of the Securities. The Company further represents to Investor that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its representatives.

  • SALE AND PURCHASE OF NOTES Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount specified opposite such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder.

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