Eligibility Defect definition

Eligibility Defect means any failure of a mortgage loan to conform to all applicable underwriting requirements or the breach of a representation or warranty with respect to a mortgage loan that Xxxxxx Xxx determined to be significant enough to warrant issuing a repurchase request to the related loan seller or servicer (and for which the related loan seller or servicer was unable to provide Xxxxxx Mae with a sufficient rebuttal that warranted withdrawal of the repurchase request).
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Eligibility Defect means any failure of a mortgage loan to conform to all applicable underwriting requirements or the breach of a representation or warranty with respect to a mortgage loan that Xxxxxx Mae determined to be significant enough to warrant issuing a repurchase request to the related loan seller or servicer (and for which the related loan seller or servicer was unable to provide Xxxxxx Xxx with a sufficient rebuttal that warranted withdrawal of the repurchase request).
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Related to Eligibility Defect

  • Minor defect means a defect which is not a Major Defect.

  • Settlement Disruption Event means each of the following events, as determined by the Calculation Agent in its sole discretion acting in good faith and in a commercially reasonable manner:

  • Defects Notification Period means the period for notifying defects in the Works or a Section (as the case may be) under Sub-Clause 11.1 [Completion of Outstanding Work and Remedying Defects], which extends over 365 days except if otherwise stated in the SCC (with any extension under Sub-Clause 11.3 [Extension of Defects Notification Period]), calculated from the date on which the Works or Section is completed as certified under Sub-Clause 10.1[Taking Over of the Works and Sections].

  • Determination Period means the period from and including a Determination Date in any year to but excluding the next Determination Date; and

  • Nonconforming zoning condition means a physical improvement on a property that does not conform with current zoning standards.

  • Claim Determination Period means a calendar year. However, it does not include any part of a year during which a person has no coverage under This Plan, or any part of a year before the date this COB provision or a similar provision takes effect.