Repurchase for servicing Sample Clauses
The 'Repurchase for servicing' clause allows a party, typically the seller or originator of financial assets such as loans, to buy back those assets from the purchaser specifically for the purpose of servicing them. In practice, this means that if the assets require ongoing management, collection, or administrative actions that the original seller is better equipped to handle, they can repurchase the assets temporarily to perform these tasks. This clause ensures that servicing obligations are met efficiently and helps maintain the quality and performance of the assets, thereby protecting the interests of both parties and minimizing potential servicing disruptions.
Repurchase for servicing. When the lender determines that repurchase of the guaranteed portion of the loan is necessary to service the loan, the hold- er must sell the guaranteed portion to the lender for the unpaid principal and interest balance (less the lender’s serv- icing fee). The guarantee does not cover interest accruing after 90 days from the date the lender’s or Agency’s letter requesting the holder to tender its guaranteed portion. The lender must not repurchase from the holder for arbitrage purposes to further its own financial gain. Any repurchase must be made only after the lender ob- tains the Agency written approval. If the lender does not repurchase the por- tion from the holder, the Agency may, at its option, purchase such guaranteed portion for servicing purposes.
Repurchase for servicing. If the Lender, Borrower, and Holder are un- able to agree to restructuring of loan repayment, Interest rate, or loan terms to resolve any loan problem or resolve the Default and repurchase of the guar- anteed portion of the loan is necessary to adequately service the loan, the Holder must sell the guaranteed por- tion of the loan to the Lender for an amount equal to the unpaid principal and Interest on such portion less the Lender’s servicing fee. The Lender must not repurchase from the Holder for arbitrage or other purposes to fur- ther its own financial gain. Any repur- chase must only be made after the Lender obtains the Agency’s written approval. If the Lender does not repur- chase the guaranteed portion from the Holder, the Agency may, at its option, purchase such guaranteed portion for servicing purposes.
Repurchase for servicing. If, in the opinion of the lender, repurchase of the guaranteed portion of the loan is nec- ▇▇▇▇▇▇ to adequately service the loan, the holder must sell the guaranteed portion of the loan to the lender for an amount equal to the unpaid principal and interest on such portion less the lender’s servicing fee. The guarantee will not cover the note interest to the holder on the guaranteed loan accruing after 90 days from the date of the ▇▇- ▇▇▇▇ letter of the lender or the Agen- cy to the holder requesting the holder to tender its guaranteed portion. The lender must not repurchase from the holder for arbitrage or other purposes to further its own financial gain. Any repurchase must only be made after the lender obtains the Agency’s writ- ten approval. If the lender does not re- purchase the portion from the holder, the Agency may, at its option, pur- chase such guaranteed portion for serv- icing purposes.