Purchase of the Variable Funding Notes Sample Clauses
The 'Purchase of the Variable Funding Notes' clause defines the terms and conditions under which an investor or purchaser acquires variable funding notes from an issuer. This clause typically outlines the process for purchasing the notes, including the timing, method of payment, and any conditions precedent that must be satisfied before the purchase is completed. For example, it may specify that the purchaser must deliver funds by a certain date and that the issuer must provide certain documentation. The core function of this clause is to ensure both parties understand their obligations in the transaction, thereby facilitating a smooth and legally compliant transfer of the variable funding notes.
Purchase of the Variable Funding Notes. Section 2.1. The Variable Funding Notes 44 Section 2.2. [Reserved] 44 Section 2.3. Procedures for Advances by Lenders 45 Section 2.4. Delivery of Loans 46 Section 2.5. Reduction of the Facility Amount; Mandatory and Optional Repayments 46 Section 2.6. Determination of Interest 47 Section 2.7. Principal Repayments on the Termination Date 47 Section 2.8. Instructions to the Trustee 48 Section 2.9. Notations on Variable Funding Notes 48 Section 2.10. Settlement Procedures Prior to Termination Period 48 Section 2.11. Settlement Procedures During the Termination Period 52 Section 2.12. Collections and Allocations 54 Section 2.13. Payments, Computations, Etc. 55 Section 2.14. [Reserved] 56 Section 2.15. Fees 56 Section 2.16. Increased Costs; Capital Adequacy; Illegality 56 Section 2.17. Taxes 58 Section 2.18. Assignment of the Sale Agreement 59 Section 2.19. Substitution and Transfer of Loans; Repurchase of Defaulted Loans 59 Section 2.20. Optional Sales 62 Section 2.21. Discretionary Sales 63 Section 2.22. Limitations on Certain Substitutions and Sales 65 Section 2.23. Release of Lien and Required Loan Documents 65 Section 2.24. Loan Acquisition and Disposition Criteria 66 ARTICLE III. CONDITIONS TO ADVANCES Section 3.1. Conditions to Closing 66 Section 3.2. Conditions Precedent to All Advances 67 Section 3.3. Conditions to Pledges of Loans 69 Section 3.4. Custodianship; Transfer of Loans and Permitted Investments 69
Purchase of the Variable Funding Notes