Common use of Sale at Lower Price Clause in Contracts

Sale at Lower Price. If after the expiration of the period of 180 days from the Termination Date of the Series Trust the Trustee has not sold any Mortgage Loan Rights which form part of the Assets of the Series Trust for the amount determined in accordance with clause 26.3(a), the Trustee may proceed to sell such Mortgage Loan Rights free from the prohibitions contained in clause 26.3 and may, if necessary, sell such Mortgage Loan Rights on the terms set out in clause 26.7 if the terms of that clause are satisfied. If any Mortgage Loan Rights are sold for less than the price for those Mortgage Loan Rights determined in accordance with clause 26.3(a), then any such shortfall must be allocated as provided for clause 26.11.

Appears in 3 contracts

Samples: Interest and Principal (Securitisation Advisory Services Pty LTD), Securitisation Advisory Services Pty LTD, Securitisation Advisory Services Pty LTD

AutoNDA by SimpleDocs

Sale at Lower Price. If after the expiration of the period of 180 days from the Termination Date of the Series Trust the Trustee has not sold any Mortgage Loan Rights which form part of the Assets of the Series Trust for the amount determined in accordance with clause 26.3(a), the Trustee may proceed to sell such Mortgage Loan Rights free from the prohibitions contained in clause 26.3 and may, if necessary, sell such Mortgage Loan Rights on the terms set out in clause 26.7 if the terms of that clause are satisfied. If any Mortgage Loan Rights are sold for less than the price for those Mortgage Loan Rights determined in accordance with clause 26.3(a), then any such shortfall must be allocated as provided for clause 26.11.. 109

Appears in 1 contract

Samples: Securitisation Advisory Services Pty LTD

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.