Loan Repurchase Notice definition
Examples of Loan Repurchase Notice in a sentence
In the form of the Land Registry Form TR4 with such amendments as the Seller may reasonably require to give effect to any Loan Repurchase Notice in accordance with the Mortgage Sale Agreement or in such other form as the Seller may reasonably require to take account of changes in law or practice.
The LLP may at its absolute discretion accept such offer by delivering a Loan Repurchase Notice to the Seller duly signed on behalf of the LLP within one London Business Day following the end of each Calculation Period in respect of each Loan and its Related Security offered to be repurchased by the Seller during such Calculation Period pursuant to this Clause 6.4(b).
In the form of the Land Registry Form TR4 with such amendments as the Seller may reasonably require to give effect to any Loan Repurchase Notice or Selected Loan Repurchase Notice in accordance with this Agreement or in such other form as the Seller may reasonably require to take account of changes in law or practice.
Completion of any repurchase under Clauses 6.3, 6.4 or 6.5 shall take place on the Calculation Date after receipt by the Seller of such Loan Repurchase Notice or such other date as the LLP may direct in the Loan Repurchase Notice (provided that the date so specified by the LLP shall not be later than 90 days after receipt by the Seller of such notice).
Upon receipt of such notice, the Mortgages Trustee agrees to serve upon the Seller a Loan Repurchase Notice requiring the Seller to repurchase each such Legacy Systems Loan and its Related Security on the date agreed with the Seller and set out in the Loan Repurchase Notice.
Completion of such repurchase pursuant to this Clause 9.10 shall take place (a) on the Monthly Pool Date immediately following the receipt of such Loan Repurchase Notice or (b) such other date as the Issuer may direct in the Loan Repurchase Notice (PROVIDED THAT the date so specified by the Issuer shall not be later than ninety (90) days after receipt by the Seller of such notice).
Notwithstanding the foregoing, in respect of Loans which are the subject of a Loan Repurchase Notice delivered pursuant to the provisions of Section 8.4 (Offer to Repurchase Loans and Related Security) above, the Seller will not be obliged to sign the copy of the Loan Repurchase Notice and the affected Loans will not be repurchased by the Seller hereunder, if the Seller has not agreed to do so pursuant to Section 8.4 (Offer to Repurchase Loans and Related Security) above.
The Guarantor may accept such offer at its sole discretion by delivering a Loan Repurchase Notice duly signed on behalf of the Guarantor if the Asset Coverage Test is satisfied on a pro forma basis after giving effect to such sale, and the provisions of Section 8.6 (Loan Repurchases) will apply.
The LLP may at its absolute discretion accept such offer by delivering a Loan Repurchase Notice duly signed on behalf of the LLP and the provisions of Clause 6.6 shall apply, provided that if an Abbey Event of Default has occurred and is continuing, any such repurchase shall be conditional upon the delivery by the Seller to the LLP and the Security Trustee of a solvency certificate (in such form as the LLP and the Security Trustee may reasonably require).
In accordance with Clause [9.4/9.5/9.6/9.7/9.8/9.9] of the Principal Agreement, upon rec eipt of this Loan Repurchase Notice by the Seller there shall exist between the Seller and the Issuer an agreement (the Agreement for Sale) for the sale by the Issuer to the Seller (or a person nominated by the Seller) of the Loans and their Related Security more particularly described in the Schedule hereto.