Common use of PURCHASE OF THE CLAIM Clause in Contracts

PURCHASE OF THE CLAIM. 10.1. By entering into this Agreement the Loan Originator is provided with the re-purchase rights to the Claim, whereas the Assignee shall undertake to sell the Claim to the Loan Originator or the Borrower, if the Loan Originator exercises its re-purchase rights. 10.2. The Loan Originator shall be entitled unilaterally, at the sole discretion of the Loan Originator exercise the re-purchase of the Claim if this Agreement is terminated as per Clause 11.1 or 11.2. 10.3. The Assignee shall not make any complaints against the Loan Originator and/or the Borrower in respect of the use of re-purchase rights due to lost profit and any other damages in this respect. 10.4. In case the Loan Originator exercises the re-purchase rights the re-purchase price of 10.5. Upon entering into the Agreement, the Loan Originator and the Assignee shall agree upon the crucial parts of the transaction on the re-purchase of the Claim. The Parties agree that the conditions of the transaction on the re-purchase of the Claim are included in the terms and conditions of the Agreement and the conclusion of a separate written arrangements are not required. Rules for the re-purchase of the Claim shall be deemed as entered into once the Re-purchase price referred to in Clause 10.4. herein is transferred to the User Account of Investor. 10.6. The calculation of the re-purchase price is acceptable for the Assignee; the Assignee recognises it as full, final and exhaustive payment for the re-purchase of the Claim. The 10.7. In addition to the provisions specified above, if the sale and/realization of the Collateral is commenced and the funds have been transferred in the account of the Loan Originator, the Loan Originator immediately exercises re-purchase obligations by Viainvest giving written notice thereof to the Assignee at its email address. Re-purchase obligations specified in this Clause are exercised by the Loan Originator in the interests of the Assignee to ensure that the proceeds obtained from the sale of the Collateral are used to cover the Claim owned by the Assignee. As of the date of notice by Viainvest to the Assignee, the Claim is considered to be sold back and transferred to the Loan Originator. 10.8. In case of exercise of re-purchase obligations of the Loan Originator specified in Clause 10.7 of this Agreement, re-purchase price for the Claim payable by the Loan Originator to the Assignee for re-transfer is calculated of the total amount of funds received by the Loan Originator from the Borrower, court bailiff or insolvency administrator, by proportionally splitting the received funds between all Investors depending on their Claim characteristics (invested days and amount of invested monies). 10.9. The Assignee undertakes not to bring any claims against Viainvest, or the Loan Originator regarding exercise of re-purchase obligations pursuant to the provisions of Clauses 10.7 and 10.8 of this Agreement with respect to realization of Collateral and