Termination Events; Remedies. (a) The occurrence of any of the following events shall constitute a “PHH Termination Event”: (i) the occurrence of any Event of Default or Termination Event as set forth in an Early Funding Agreement, after the expiration of any applicable cure period; (ii) the occurrence of a “Material Adverse Change” with respect to PHH, which shall mean the occurrence of an event that would cause a material and adverse change in the financial condition, business, or operations of PHH and its parent or subsidiaries, taken as a whole, as a result of any event that disproportionately impacts PHH and its parent or subsidiaries relative to similarly-sized mortgage companies;
Appears in 4 contracts
Samples: Committed Purchase Facility for Early Funding (PHH Corp), Committed Purchase Facility for Early Funding (PHH Corp), Committed Purchase Facility for Early Funding (PHH Corp)
Termination Events; Remedies. (a) The occurrence of any of the following events shall constitute a “PHH Termination Event”:
(i) the occurrence of any Event of Default or Termination Event as set forth in an Early Funding Agreement, after the expiration of any applicable cure period;
(ii) the occurrence of a “Material Adverse Change” with respect to PHH, which shall mean the occurrence of an event that would cause a material and adverse change in the financial condition, business, or operations of PHH and its parent or subsidiaries, taken as a whole, as a result of any event that disproportionately impacts PHH and its parent or subsidiaries relative to similarly-sized mortgage companies;
Appears in 1 contract
Samples: Extension of Committed Purchase Facility for Early Funding (PHH Corp)
