Underlying Repurchase Transaction Sample Clauses
Underlying Repurchase Transaction. If such Transaction is an Underlying Repurchase Transaction, (x) Buyer shall have received and approved the Underlying Repurchase Documents in its sole discretion and following such approval received duly executed copies thereof by the parties thereto and (y) PMC shall have satisfied all conditions precedent to the entry into such Underlying Repurchase Transaction under the Underlying Repurchase Agreement; and
Underlying Repurchase Transaction. If such Transaction involves Purchased Assets subject to an Underlying Repurchase Transaction, (x) Buyer shall have received and approved the Underlying Repurchase Documents in its good faith discretion and following such approval received duly executed copies thereof by the parties thereto and (y) PMC shall have satisfied all conditions precedent to the entry into such Underlying Repurchase Transaction under the applicable Underlying Repurchase Agreement and such Underlying Repurchase Assets have been sold by PMC to POP pursuant to the Underlying Repurchase Documents. Each Transaction Request delivered by Sellers hereunder will constitute a certification by Sellers that all the conditions set forth in this Section 3(b) have been satisfied (both as of the date of such notice or request and as of Purchase Date).