Remediated Defaulted Assets Sample Clauses

Remediated Defaulted Assets. In the event that any Purchased Asset that is a Defaulted Asset subsequently becomes a performing Asset prior to the date on which Seller is required to repurchase such Purchased Asset in accordance with this Agreement, Seller may request in writing that Buyer (i) re-designate such Purchased Asset as an Eligible Asset hereunder as determined by Buyer in good faith and/or (ii) consider advancing additional Purchase Price to Seller in respect of such Purchased Asset in such amount as may be acceptable to Buyer in its sole discretion. In the case of a Defaulted Asset arising as a result of a payment default, if such payment default is cured within sixty (60) days by the applicable underlying obligor (and not, for the avoidance of doubt, as a result of a Material Modification hereunder) and such Asset otherwise qualifies as an Eligible Asset, as determined by Buyer in its discretion, then such Asset shall be deemed to be an Eligible Asset hereunder. In connection with any such increase in Purchase Price approved by Buyer hereunder, Seller shall execute and deliver to Buyer a new Confirmation in respect of the applicable Purchased Asset setting forth such Applicable Percentage, Pricing Margin and other terms as may be acceptable to Buyer in its sole discretion.