Foreclosure Purchase Right definition

Foreclosure Purchase Right. The right to buy (i) the Secured -------------------------- Obligation in accordance with this Section 12, (ii) the Real Estate in accordance with this Section 12, or (iii) both the Secured Obligation and the Real Estate in accordance with this Section 12. Foreclosure Sale: A foreclosure, execution, or other lien-enforcement ---------------- sale.
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Examples of Foreclosure Purchase Right in a sentence

  • If ----------------------------------------------------- Holder does not exercise the Foreclosure Purchase Right, Lender may proceed with the enforcement of the Lien and (i) sell the Encumbered Property to a third party at a Foreclosure Sale, (ii) buy the Encumbered Property by a credit bid at the Foreclosure Sale, or (iii) accept a deed conveying the Encumbered Property in lieu of foreclosure, in each case without the requirement of making a further offer of the Encumbered Property to Holder.

  • If Holder wishes -------------------------------------------- to exercise the Foreclosure Purchase Right, Holder must send a Foreclosure Exercise Notice to Owner and Lender within 25 days after Holder actually receives the Lien Enforcement Notice.

  • Before Lender begins enforcement of its --------------------- Lien, Holder will have the Foreclosure Purchase Right.

  • If Holder -------------------------------------------- wishes to exercise the Foreclosure Purchase Right, Holder must send a Foreclosure Exercise Notice to Owner and Lender within 25 days after Holder actually receives the Lien Enforcement Notice.

  • Before Lender begins enforcement --------------------- of its Lien, Holder will have the Foreclosure Purchase Right.

  • If Holder ----------------------------------------------------- does not exercise the Foreclosure Purchase Right, Lender may proceed with the enforcement of the Lien and (i) sell the Encumbered Property to a third party at a Foreclosure Sale, (ii) buy the Encumbered Property by a credit bid at the Foreclosure Sale, or (iii) accept a deed conveying the Encumbered Property in lieu of foreclosure, in each case without the requirement of making a further offer of the Encumbered Property to Holder.

Related to Foreclosure Purchase Right

  • Purchase Right means an option to purchase shares of Common Stock granted pursuant to the Plan.

  • Stock Purchase Right means a right to purchase Common Stock pursuant to Section 11 below.

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • Restricted Stock Purchase Right means a right to purchase Stock granted to a Participant pursuant to Section 8.

  • Stock Purchase Rights means any warrants, options or other rights to subscribe for, purchase or otherwise acquire any shares of Common Stock or any Convertible Securities.

  • Purchase Rights shall have the meaning set forth in Section 5(c).

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Failed Remarketing Condition—Purchased VRDP Shares means that the Liquidity Provider acquires and continues to be the beneficial owner for federal income tax purposes of any shares of a Series of VRDP Shares in connection with purchases made pursuant to the Purchase Obligation (whether as a result of an unsuccessful Remarketing or a Mandatory Purchase) on any Purchase Date, including shares of a Series of VRDP Shares that the Liquidity Provider continues to be the beneficial owner of for federal income tax purposes after the expiration or termination of the VRDP Shares Purchase Agreement.

  • Failed Remarketing Condition—Unpurchased VRDP Shares means that a Beneficial Owner (other than the Liquidity Provider or its affiliates) continues to hold VRDP Shares, that were subject to a valid Tender, after any Purchase Date as a result of the failure by the Liquidity Provider for any reason to purchase such VRDP Shares pursuant to the Purchase Obligation (whether as a result of an unsuccessful Remarketing or a Mandatory Purchase) ("Unpurchased VRDP Shares"), until such time as all Outstanding Unpurchased VRDP Shares are (i) successfully Remarketed, (ii) purchased by the Liquidity Provider pursuant to the Purchase Obligation, or (iii) if not successfully Remarketed or purchased by the Liquidity Provider pursuant to the Purchase Obligation, the subject of a validly tendered Notice of Revocation (or any combination of the foregoing); and any Unpurchased VRDP Shares shall be deemed tendered for Remarketing until the earliest to occur of the foregoing events (i), (ii) or (iii) with respect to such Unpurchased VRDP Shares.

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Put Right has the meaning set forth in Section 8.05(a).

  • Initial Optional Purchase Date The first Distribution Date following the date on which the Aggregate Loan Balance is less than 10.00% of the Cut-off Date Balance.

  • Option Closing Purchase Price shall have the meaning ascribed to such term in Section 2.2(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Public purchase means a purchase by means of competitive bids of goods, services, or materials by the State or any of its political subdivisions or public agencies on whose behalf the Attorney General may bring an action pursuant to subdivision (c) of Section 16750 of the Business and Professions Code.

  • Transfer Stock means shares of Capital Stock owned by a Key Holder, or issued to a Key Holder after the date hereof (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization, or the like), but does not include any shares of Preferred Stock or of Common Stock that are issued or issuable upon conversion of Preferred Stock.

  • Rights Offering Shares means the shares of New Common Stock (including all Unsubscribed Shares purchased by the Commitment Parties pursuant to this Agreement) distributed pursuant to and in accordance with the Rights Offering Procedures.

  • Failed Remarketing Condition—Purchased VRDP Shares Redemption means redemption by the Corporation, at a redemption price equal to $100,000 per share plus accumulated but unpaid dividends thereon (whether or not earned or declared) to, but excluding, the date fixed by the Board of Directors for redemption, of shares of a Series of VRDP Shares that the Liquidity Provider shall have acquired pursuant to the Purchase Obligation and continued to be the beneficial owner of for federal income tax purposes for a continuous period of six (6) months during which such VRDP Shares are tendered for Remarketing on each Business Day in accordance with the Related Documents but cannot be successfully remarketed (i.e., a Failed Remarketing Condition-Purchased VRDP Shares shall have occurred and be continuing for such period of time with respect to such VRDP Shares), determined by the Corporation on a first-in, first-out basis, in accordance with and subject to the provisions of the Fee Agreement and these Articles Supplementary.

  • Optional Purchase has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.

  • Offering Shares means the shares of Common Stock included in the Units issued pursuant to this Agreement and Investor Warrant Shares.

  • Micro-purchase means a purchase of supplies or services, the aggregate amount of which does not exceed the micro-purchase threshold. Micro-purchases comprise a subset of a district's small purchases as defined in 2 C.F.R. 200.320.

  • Option means a stock option granted pursuant to the Plan.

  • Share Purchase has the meaning set out in Section 2.1.

  • Sell or Offer to Sell means to: • sell, offer to sell, contract to sell or lend, • effect any short sale or establish or increase a Put Equivalent Position or liquidate or decrease any Call Equivalent Position • pledge, hypothecate or grant any security interest in, or • in any other way transfer or dispose of, in each case whether effected directly or indirectly.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Offered Shares has the meaning set forth in Section 3.02(a).