Common use of Sale Purchase Clause in Contracts

Sale Purchase. (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Sale Agreement to be dated as of the Closing Date shall be consummated upon (i) the Purchaser’s receipt from the Seller and the Interim Eligible Lender Trustee for the benefit of the Seller of the related Xxxx of Sale, (ii) the payment by the Purchaser to the Seller of the Initial Payment and (iii) the issuance to the Seller of the Excess Distribution Certificate. Upon consummation, such sale and purchase shall be effective as of the date of the Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the Sale Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Date, the Purchaser shall pay the Seller the Initial Payment by wire transfer in immediately available funds to the account specified by the Seller.

Sale Purchase. (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the a Sale Agreement to be dated as of the Closing Date shall be consummated upon (i) the Purchaser’s receipt from the Seller and the Interim Eligible Lender Trustee for the benefit of the Seller of the related Xxxx of Sale, (ii) the payment by the Purchaser to the Seller of the Initial Payment and (iii) the issuance to the Seller of the Excess Distribution Certificate. Upon consummation, such sale and purchase shall be effective as of the date of the Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the Sale Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Datedate of the Xxxx of Sale, the Purchaser shall pay the Seller the Initial Payment by wire transfer in immediately available funds to the account specified by the Seller.

Sale Purchase. (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the a Sale Agreement to be dated as of the Closing Date shall be consummated upon (i) the Purchaser’s receipt from the Seller and the Interim Eligible Lender Trustee for the benefit of the Seller of the related Xxxx Bxxx of Sale, (ii) the payment by the Purchaser to the Seller of the Initial Payment and (iii) the issuance to the Seller of the Excess Distribution Certificate. Upon consummation, such sale and purchase shall be effective as of the date of the Xxxx Bxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the Sale Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Datedate of the Bxxx of Sale, the Purchaser shall pay the Seller the Initial Payment by wire transfer in immediately available funds to the account specified by the Seller.

Sale Purchase. (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Sale Purchase Agreement to be dated as of the Closing Date shall be consummated upon upon: (i) the Purchaser’s receipt from the Seller and the Interim Eligible Lender Trustee for the benefit of the Seller of the related Xxxx of Sale, ; (ii) the payment by the Purchaser to the Seller of the Initial Payment Payment; and (iii) the issuance assignment to the Seller of the Excess Distribution Trust Certificate. Upon consummation, such sale and purchase shall be effective as of the date of the Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the Sale Purchase Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Date, the Purchaser shall pay to the Seller the Initial Payment by wire transfer in immediately available funds to the account specified by the Seller.

Sale Purchase. (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Sale Agreement to be dated as of the Closing Date shall be consummated upon upon: (i) the Purchaser’s receipt from the Seller and the Interim Eligible Lender Trustee for the benefit of and on behalf of the Seller of the related Xxxx of Sale, ; (ii) the payment by the Purchaser to the Seller of the Initial Payment Payment; and (iii) the issuance by the Trust of the Trust Certificate to the Seller of the Excess Distribution CertificateSeller. Upon consummation, such sale and purchase shall be effective as of the date of the Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the Sale Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Date, the Purchaser shall pay to the Seller the Initial Payment by wire transfer in immediately available funds to the account specified by the Seller.