Underlying Repurchase Documents. The Underlying Repurchase Documents are “repurchase agreements” within the meaning of Section 559 of the Bankruptcy Code. SCHEDULE 1 PART III
Underlying Repurchase Documents. (i) The Underlying Repurchase Agreement contains broad repledge, assignment and rehypothecation provisions in favor of POP permitting POP to sell, transfer and assign to Buyer hereunder, without restriction or rights to consent by PMC or any other Person, all of POP’s right, title and interest in Underlying Repurchase Assets purchased by POP thereunder;
Underlying Repurchase Documents. (i) Any material provision of any Underlying Repurchase Document shall at any time for any reason cease to be valid and binding or in full force and effect; or (ii) PMC shall deny that it has any or further liability or obligation under any material provision of any Underlying Repurchase Document; or (iii) POP or PMC shall fail to perform or observe any material covenant, term, obligation or agreement contained in any Underlying Repurchase Document or defaults in the performance or observance of any of its obligations under any Underlying Repurchase Document and such default shall continue after the earlier of (x) the expiration of the grace period applicable thereto under such Underlying Repurchase Document and (y) two (2) Business Days; or (iv) the validity or enforceability of any material provision of any Underlying Repurchase Document shall be contested by any party thereto; or (v) any representation or warranty set forth on Schedule 1-D shall be untrue in any material respect; unless in each case of clauses (i) through (v), the related Mortgage Loans subject to the Underlying Repurchase Document are repurchased by POP within two (2) Business Days following notice or knowledge thereof; or
Underlying Repurchase Documents. Seller shall provide a Transaction Request (as defined in the Underlying Repurchase Documents), which shall reference the applicable Mortgage Loan Schedule which shall describe the Purchased Mortgage Loans. All Underlying Repurchase Documents applicable to each Purchased Mortgage Loan have been duly executed and delivered by Seller and the Underlying Repurchase Counterparty and are in form and substance satisfactory to Buyer in all material respects, in its sole discretion.
Underlying Repurchase Documents. Fully executed and delivered Underlying Repurchase Documents.
Underlying Repurchase Documents. Seller shall provide a Transaction Request (as defined in the Underlying Repurchase Documents) or other comparable document, which shall reference the applicable Mortgage Loan Schedule which shall describe the Purchased Mortgage Loans. All Underlying Repurchase Documents and any Custodial Repledgee Information Notice or ETA Repledgee Information Notice, applicable to each Purchased Mortgage Loan have been duly executed and delivered by Seller and the Underlying Repurchase Counterparty and any other applicable party and are in form and substance satisfactory to Buyer in all material respects, in its sole discretion.
Underlying Repurchase Documents. Form of Underlying Repurchase Documents.
Underlying Repurchase Documents. With respect to any Purchased Loan that was subject to an Underlying POP Repurchase Transaction, Sellers shall provide a Transaction Request (as defined in the Underlying Repurchase Documents), which shall reference the applicable Mortgage Loan Schedule which shall describe the Purchased Loan. All Underlying POP Repurchase Documents applicable to each Purchased Loan have been duly executed and delivered by Sellers and POP. and must be in form and substance satisfactory to Buyer in all material respects, in its sole discretion.
Underlying Repurchase Documents. Certified copies of the fully executed Underlying Repurchase Documents.
Underlying Repurchase Documents. With respect to any Purchased Loan that was subject to an Underlying POP Repurchase Transaction, Sellers shall provide a Transaction Request (as defined in the Underlying Repurchase Documents), which shall reference the applicable Mortgage Loan Schedule which shall describe the Purchased Loan. All Underlying POP Repurchase Documents applicable to each Purchased Loan have been duly executed and delivered by Sellers and POP and must be in form and substance satisfactory to the Buyer in all material respects, in its sole discretion. In addition, with respect to each Wet-Ink Mortgage Loan that was subject to an Underlying POP Repurchase Transaction, the Seller shall have delivered evidence satisfactory to the Buyer that an Escrow Instruction Letter has been delivered by PennyMac Corp. to the related Settlement Agent.
