Sale of Loans. (a) Subject to the terms and conditions hereof, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Purchaser, without recourse (subject to the obligations herein) all right, title and interest of the Seller in (without duplication):
(i) the Loans and all obligations of the Obligors thereunder, excluding amounts received thereunder prior to or on the Cut-off Date;
(ii) all Related Security and any Collections and additional monies received under the Loans and Related Security, unless related to amounts due in respect of the Loans on or prior to the Cut-off Date;
(iii) the Sale Agreement;
(iv) all other property now or hereafter in the possession or custody of, or in transit to, the Servicer, any Sub-Servicer or the Seller relating to any of the foregoing;
(v) all Loan Files and Records with respect to any of the foregoing; and
(vi) all proceeds of the foregoing (all such assets, collectively, the “Purchaser Assets”). Notwithstanding the foregoing, the Seller delegates to the Purchaser any remaining obligations of the Seller under any Loan, and the Purchaser assumes such obligations.
(b) On or before the Closing Date, the Seller shall (i) indicate in its records that the Purchaser Assets have been sold to the Purchaser pursuant to this Agreement by so identifying the Purchaser Assets with an appropriate notation and (ii) deliver to the Purchaser or its designee the following documents (collectively, the “Loan Files”):
(i) the original fully executed copy of the Loan;
(ii) a record or facsimile of the original credit application, if obtained, fully executed by the Obligor;
(iii) the original certificate of title or file stamped copy of the UCC financing statement or such other documents evidencing the security interest of the Purchaser in the Equipment; and
(iv) any and all other material documents relating to a Loan, an Obligor or any of the Equipment.
Sale of Loans. The Seller hereby sells and the Purchaser hereby purchases the Transferred Student Loans.
Sale of Loans. From time to time during the term of this Agreement, Seller shall offer to sell, and Purchaser may purchase, all right, title, and interest in and to eligible Loans and the related Servicing Rights in accordance with the terms set forth in this Agreement. Nothing in this Agreement shall be construed as obligating Purchaser to purchase or accept the assignment of any Loan. The Purchaser, in its sole discretion, reserves the right to reject any Loan for any reason.
Sale of Loans. MidCountry Bank will, WITHOUT RECOURSE to MidCountry Bank, originate for sale, to Funding military consumer loans (the “Loans”) made by MidCountry Bank in the ordinary course of business as previously conducted by Pioneer, and in accordance with (i) MidCountry Bank’s lending policy, and (ii) the continuing lending guidelines of Pioneer, as both may be amended from time to time. Funding will have the exclusive right to purchase, WITHOUT RECOURSE to MidCountry Bank, all of such Loans offered for sale by MidCountry Bank, and payment for such Loans shall be settled on a daily basis or on such other periodic basis as the parties may from time to time determine. All Loan sales will be upon fair and reasonable terms no less favorable to Pioneer than would be obtained in a comparable arm’s-length transaction with a third party that is not an affiliate of MidCountry Bank. MidCountry Bank may also originate for its own account loans which are not deemed to be military consumer loans made in the ordinary course of business as previously conducted by Pioneer.
Sale of Loans. 1 Section 2.2 Grant of Security Interest....................................................... 2 Section 2.3
Sale of Loans. (a) If all or a portion of the Loans are to be sold under the terms of Section 5.05(a)(ii), the Indenture Trustee, or its agents, shall, unless another method of sale is directed in writing by the Required Noteholders, use its commercially reasonable efforts to sell, dispose or otherwise liquidate all or a portion of the Loans by the solicitation of competitive bids. The Indenture Trustee may from time to time postpone any sale by public announcement made at the time and place of such sale. The Indenture Trustee hereby expressly waives its right to any amount fixed by law as compensation for any sale.
(b) The Indenture Trustee is hereby irrevocably appointed the agent and attorney-in-fact of the Issuer in connection with any sale of Loans pursuant to Section 5.05(a)(ii). No purchaser or transferee at any such sale shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any monies.
(c) If all or a portion of the Loans are to be sold under the terms of Section 5.05(a)(ii), the Indenture Trustee shall solicit bids for such Loans from Permitted Assignees (identified in writing by the Servicer), each of which shall agree in writing to comply with the confidentiality provision of this Indenture with respect to any information received in connection with such solicitation. The Indenture Trustee shall sell such Loans to the bidder with the highest cash purchase offer. The proceeds of any such sale shall be applied in accordance with Section 5.05(b). In connection with any such sale of Loans or interests therein, the Indenture Trustee may contract with agents to assist in such sales, the cost of which and the other costs of such sale shall be paid from the proceeds of any such sale.
(d) At any sale of all or a portion of the Loans under Section 5.05(a)(ii), the Indenture Trustee or the Noteholders may bid for and purchase the property offered for sale and, upon compliance with the terms of sale, may hold, retain and dispose of such property without further accountability therefor.
(e) Upon completion of any sale under Section 5.05(a)(ii), the Issuer will deliver or cause to be delivered all of the property sold to the purchaser or purchasers at such sale on the date of sale, or within a reasonable time thereafter if it shall be impractical to make immediate delivery, but in any event full title and right of possession to such property shall pass to such purchaser or purcha...
Sale of Loans. Subject to the terms of the Credit ------------- Agreement, Beneficiary, at any time and without the consent of Borrower, may grant participations in or sell, transfer, assign and convey all or any portion of its right, title and interest in and to the Loans, this Deed of Trust and the other Loan Documents, guaranties given in connection with the Loans and any collateral given to secure the Loans.
Sale of Loans. CII will package blocks of Qualified Mortgages and sell them to institutional buyers on a monthly basis. [CONFIDENTIAL PORTION DELETED]
a. [CONFIDENTIAL PORTION DELETED] b. [CONFIDENTIAL PORTION DELETED] c. [CONFIDENTIAL PORTION DELETED] d. [CONFIDENTIAL PORTION DELETED]
Sale of Loans. (a) MidCountry Bank will originate in accordance with all applicable Laws for sale to one or more Purchasers and sell, WITHOUT RECOURSE EXCEPT AS OTHERWISE HEREIN PROVIDED, to one or more Purchasers, certain unsecured consumer loans made by MidCountry Bank to consumers from its own funds in accordance with (i) the purchasing guidelines most-recently delivered by Pioneer to MidCountry Bank and the Agent, as the same may be amended from time to time in accordance with the Lending Agreement (the “Pioneer Purchasing Guidelines"); (ii) Pioneer’s credit policies, as the same may be amended from time to time in accordance with the Lending Agreement (the “Pioneer Credit Policy"); (iii) MidCountry Bank’s credit policies (the “MidCountry Bank Credit Policy"); and (iv) all applicable Laws (such loans, the “Loans”).
(b) Purchasers shall purchase from MidCountry Bank (subject to Section 2(e)), WITHOUT RECOURSE EXCEPT AS OTHERWISE PROVIDED HEREIN to MidCountry Bank, all of such Loans, and payment for such Loans so purchased (each a “Purchased Loan”) shall be settled on a daily basis on each Business Day on which a Purchased Loan is funded during the Term. From and after the date of purchase, the applicable Purchaser shall be entitled to all amounts received or collected by MidCountry Bank in respect of each Purchased Loan, including but not limited to all late charges and fees charged for insufficient borrower funds and all other ancillary product revenue and fees associated with Purchased Loans. If a Purchased Loan is rescinded or canceled by the borrower during the 15-day period following the origination thereof, MidCountry Bank shall refund to the applicable Purchaser an amount equal to the purchase price paid by such Purchaser to MidCountry Bank for such Purchased Loan.
(c) MidCountry Bank may also originate loans for its own account from time to time, and may utilize CBD personnel and Consumer Lending Platforms for such purposes, solely to the extent that MidCountry Bank’s utilization of such personnel or Consumer Lending Platforms do not, in the sole and reasonable determination of either Pioneer or the Agent, materially diminish MidCountry Bank’s ability to perform under, and comply with, this Agreement, each license relating to any Consumer Lending Platform, and all applicable Laws. To the extent that MidCountry Bank originates loans for its own account in accordance with this section, Pioneer and the Agent shall be entitled to deduct a proportionate share of th...
Sale of Loans. The Bank will originate for sale to Funding military consumer loans (the “Loans”) made by the Bank in the ordinary course of business as previously conducted by Pioneer Financial Services, Inc. (“Pioneer”), one of the parties and its subsidiaries composing the Customer, and in accordance with (i) the Bank’s lending policy, and (ii) the continuing lending guidelines of Pioneer, as both may be amended from time to time. Funding will have the exclusive right to purchase, and shall purchase, all of such Loans offered for sale by the Bank, and payment for such Loans shall be settled on a daily basis or on such other periodic basis as the parties may from time to time determine. The Bank may also originate for its own account loans which are not deemed to be military consumer loans made in the ordinary course of business as previously conducted by Pioneer and its subsidiaries.
