SELLER’S REPURCHASE OBLIGATIONS. The following sentence is added to the end of subsection 8.2(a) of the Agreement: In the case of a Type 4 Nonconforming Loan, if Seller fails to obtain a Takeout Commitment for such Type 4 Nonconforming Loan, or fails to provide to MBF a true and correct photocopy of it or information about it required by Section 13.20, within ninety (90) days after the Acquisition Date, MBF may notify Seller, and notify Seller, and Seller shall promptly repurchase such Mortgage Loan at the Repurchase Price on the date of repurchase.
SELLER’S REPURCHASE OBLIGATIONS. A. Seller shall repurchase any Loan sold to Plaza pursuant to this Agreement within twenty (20) business days of receipt of written notice from Plaza of any of the following circumstances (the “Repurchase Obligation”):
SELLER’S REPURCHASE OBLIGATIONS. A. Seller shall repurchase any Loan sold to Countrywide pursuant to this Agreement within twenty business days of receipt of written notice from Countrywide of any of the following circumstances (the “Repurchase Obligation”):
SELLER’S REPURCHASE OBLIGATIONS. Section 7.A (4) is amended and restated in its entirety as follows; “If the first payment due Countrywide is not received by Countrywide, whether from the borrower directly or forwarded by Seller if the Borrower has submitted the payment to Seller, within 90 days of the first payment due Countrywide. For this purpose a Borrower shall be considered to be 90 days delinquent with respect to the first monthly payment due Countrywide if the payment is not received by Countrywide within three months of the payment due date, regardless of the number of days in the month. For example, if the due date of the first payment due to Countrywide is January 15th and the Borrower has not made his/her January 15th payment by April 14th, the Borrower shall be considered 90 days delinquent with respect to the January 15th payment. Seller shall not have the right to advance funds for or on behalf of a Borrower for any delinquent payment or to otherwise make funds available to any Borrower to avoid or cure a default by the Borrower. A payment for which Countrywide deducted funds at the time it purchased the Loan from Seller shall not be considered the first payment due Countrywide,”
SELLER’S REPURCHASE OBLIGATIONS. In the event any Account is (a)(i) within six (6) months of the Closing Date, determined to be an Account that was an Excluded Account as of the Cut-Off Time or (ii) within eight (8) months of the Closing Date, determined to be an Account that was an Excluded Account as of the Cut-Off Time pursuant to clause (l) of the definition of Excluded Account, or (b) within 90 days of transfer to the Purchaser, an Account for which any representation or warranty under (i) Section 4.02(a)(iii) or (ii) Section 4.02(a)(iv) is not true and correct on the date of transfer of the related Receivable arising therein in any material respect for any related Receivable as a result of any action or failure to act by Seller to the extent such failure to be so true and correct results in such Receivable not being an Eligible Receivable (in each case, a “Covered Account”), Seller shall pay to Purchaser an amount equal to the Repurchase Price for all Receivables in such Covered Account, calculated in the manner set forth in Section 6.02. Upon payment of any such Repurchase Price with respect to any such Receivables, Purchaser shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to Seller, without recourse, representation or warranty, all the right, title and interest of Purchaser in and to such Receivables, all Collections related thereto, all monies and amounts due or to become due with respect thereto, all proceeds thereof, and all other Purchased Assets related thereto. Purchaser shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by Seller to effect the conveyance of such property pursuant to this Section.
SELLER’S REPURCHASE OBLIGATIONS. The following sentence is added to the end of subsection 8.2(a) of the Agreement: Notwithstanding the foregoing, if the Mortgage Loan has become an Aged Mortgage Loan, Seller shall have no obligation to repurchase the Mortgage Loan under this subsection 8.2(a) as long as it is classified as an Aged Mortgage Loan.
SELLER’S REPURCHASE OBLIGATIONS. If Buyer exercises or is deemed to have exercised the option referred to in subsection (a)(i) of this Section,
SELLER’S REPURCHASE OBLIGATIONS. Purchaser and CompuCredit shall be entitled to cause Seller to repurchase, on a one time basis as set forth in this Article 7, any Covered Account (as defined below); provided, however, that Purchaser and CompuCredit shall be entitled to cure any clerical error or omission or correct any ambiguities in connection with any submissions by Purchaser or CompuCredit with respect to such repurchase, within 15 days of such submission. Such right shall apply to any Account that is reasonably determined, at any time on or prior to the expiration of 150 days after the Conversion Date, by Purchaser or CompuCredit to be (i) an Account which should have been classified as an Excluded Account as of the Cut-Off Time, (ii) an Account that was not an Eligible Account as of the Cut-Off Time or (iii) an Account for which any of the related Credit Card Receivables was not an Eligible Receivable as of the Cut-Off Time (in each case, a "Covered Account"). In order to exercise such repurchase right, Purchaser or CompuCredit, or their designee, may demand in writing that Seller repurchase all such Covered Accounts (and all other Acquired Assets relating to such Covered Account) as have been so designated on or before the expiration of such 150 day period for an amount equal to the Repurchase Price, calculated in the manner set forth in Section 7.2. Upon payment of the aggregate Repurchase Price with respect to such Covered Accounts, Seller, in its sole discretion, may elect to either (i) require Purchaser to reconvey to Seller, at Seller's reasonable cost and expense, any such Covered Account (and all other Acquired Assets relating to such Covered Account) or, (ii) allow Purchaser to retain any such Covered Account (and all other Acquired Assets relating to such Covered Account). Neither Purchaser nor any other person shall be entitled to any contractual claim or damages hereunder in respect of the Purchase Price with respect to any Covered Account to the extent that Purchaser has been compensated through the payment by Seller to the Purchaser of the Repurchase Price for such Covered Account in accordance with the terms of this Section 7.1.
SELLER’S REPURCHASE OBLIGATIONS. A. Seller shall repurchase any Loan sold to PHM pursuant to this Agreement within twenty (20) business days of receipt of written notice from PHM of any of the following circumstances (the “Repurchase Obligation”):
SELLER’S REPURCHASE OBLIGATIONS. Upon Seller's Failure to Fulfill Acceptance Criteria. Notwithstanding any provision to the contrary set forth herein, Seller shall be obligated to repurchase the PPF Agreement and the Machines from Purchaser upon the occurrence of any of the following events ("Repurchase Events"):
