Defective Solar Loan means a Solar Loan with respect to which it is determined by the Agent (acting at the written direction of the Majority Lenders) or the Manager, at any time, that the Seller (Solar Loans) breached as of the Transfer Date for such Solar Loan the representation in Section 6(b) of the Sale and Contribution Agreement (Solar Loans), unless such breach has been waived, in writing, by the Agent, acting at the direction of the Majority Lenders.
Defective Solar Loan means a Solar Loan with respect to which it is determined by the Indenture Trustee (acting at the written direction of the Majority Noteholders of the Controlling Class) or the Manager, at any time, that Sunnova Intermediate Holdings, Sunnova ABS Holdings VIII or the Depositor breached one or more of the applicable representations or warranties regarding eligibility of such Solar Loan contained in Exhibit A to the Contribution Agreement as of the related Cut-Off Date (or as of the Closing Date or related Transfer Date, as so provided in Exhibit A to the Contribution Agreement), which breach has a material adverse effect on the Noteholders and has not been cured within the applicable grace period or waived, in writing, by the Indenture Trustee, acting at the direction of the Majority Noteholders of the Controlling Class.
Defective Solar Loan means a Solar Loan with respect to which it is determined by the Agent (acting at the written direction of the Controlling Party) or the Manager, at any time, that Sunnova Intermediate Holdings, Sunnova Hestia Holdings or the Depositor breached one or more of the applicable representations or warranties regarding eligibility of such Solar Loan contained in Exhibit A to the Contribution Agreement as of the related Cut-Off Date (or as of the Closing Date or related Transfer Date, as so provided in Exhibit A to the Contribution Agreement), which breach has a material adverse effect on the Secured Parties and has not been cured within the applicable grace period or waived, in writing, by the Agent, acting at the direction of the Controlling Party. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.
Examples of Defective Solar Loan in a sentence
Each Noteholder, by its acceptance of the Notes, agrees that, subject to the obligations of the Originator to pay the Repurchase Price for any Defective Solar Loan and the indemnification obligations provided for herein, in the Sale and Contribution Agreement, the Servicing Agreement, the Management Agreement and the Note Purchase Agreement, it will have recourse solely against such Trust Estate and such payment and indemnification obligations.
More Definitions of Defective Solar Loan
Defective Solar Loan means a Solar Loan with respect to which it is determined by the Indenture Trustee (acting at the written direction of the Majority Noteholders of the Controlling Class) or the Manager, at any time, that Sunnova Intermediate Holdings, Sunnova ABS Holdings VI or the Depositor breached one or more of the applicable representations or warranties regarding eligibility of such Solar Loan contained in Exhibit A to the Contribution Agreement as of the related Cut-Off Date (or as of the Closing Date or related Transfer Date, as so provided in Exhibit A to the Contribution Agreement), which breach has a material adverse effect on the Noteholders and has not been cured within the applicable grace period or waived, in writing, by the Indenture Trustee, acting at the direction of the Majority Noteholders of the Controlling Class.
Defective Solar Loan means a Solar Loan with respect to which it is determined by the Administrative Agent or the Servicer, at any time, that the Originator or the Issuer breached one
Defective Solar Loan means a Solar Loan with respect to which it is determined by the Administrative Agent or the Servicer, at any time, that the Originator or the Issuer breached one