Common use of Repurchase of Interests Clause in Contracts

Repurchase of Interests. In the event any Loan or Loans originated by Seller in which Buyer purchases an Interest is not sold by Seller to an Investor (whether in accordance with the terms of the take-out Commitment or otherwise) within sixty (60) calendar days of the date of funding by Buyer of the Purchase Price paid by Buyer for such Interest and Seller is not otherwise required to repurchase such Loan or Loans hereunder, then, in such event, Seller may, within five (5) business days thereafter, repurchase Buyer's Interest in such Loan or Loans for the then outstanding portion of Buyer's Purchase Price for such Loan or Loans not repaid through application of principal payments by the loan debtor or debtors delivered to Buyer, accrued, unpaid Yield and other amounts owing to Buyer on such Loans, together with Buyer's costs, including, without limitation, legal fees, incurred by the Buyer for any action taken.