Margin Deficit Notice definition
Examples of Margin Deficit Notice in a sentence
Seller shall perform the obligations under this Article 4(a) by the close of the next succeeding Business Day if the Margin Deficit Notice was received by Seller prior to 3:00 p.m. New York City time, or, the second (2nd) succeeding Business Day if the Margin Notice was received by Seller after 3:00 p.m. New York City time (the “Margin Deadline”).
In the event Buyer delivers a Margin Deficit Notice to Seller after 10 a.m., New York City time, on any Business Day, Seller shall be required to transfer such cash no later than 5 p.m., New York City time, on the subsequent Business Day.
If Buyer delivers a Margin Deficit Notice to Seller on or prior to 10 a.m., New York City time, on any Business Day, then Seller shall transfer such cash to Buyer no later than 5 p.m. New York City time, on such Business Day.
In the event Buyer delivers a Margin Deficit Notice to Seller after 10 a.m., New York City time, on any Business Day, Seller shall be required to transfer such cash no later than 4 p.m., New York City time, on the subsequent Business Day.
If Buyer delivers a Margin Deficit Notice to Seller on or prior to 10 a.m., New York City time, on any Business Day, then Seller shall transfer such cash to Buyer no later than 4 p.m. New York City time, on such Business Day.
If at any time there exists a Margin Deficit for which Buyer has delivered to Seller a Margin Deficit Notice, Seller shall cure same in accordance with Section 4.
Notwithstanding the foregoing, upon receipt of a Margin Deficit Notice with respect to a Purchased Loan, the applicable Seller may elect, rather than pay to Buyer the Margin Deficit Amount, to repurchase such Purchased Loan on or before the date for payment of such Margin Deficit Amount set forth in such Margin Deficit Notice, by payment of such Purchased Loan’s Repurchase Price in accordance with Section 3(d).
If Buyer delivers a Margin Deficit Notice to Seller on or prior to 6 p.m. (New York time) on any Business Day, then Seller shall transfer such cash to Buyer no later than 5 p.m. (New York time) the following Business Day.
Upon the termination of the Forbearance Period, Purchaser may elect to commence and/or resume the exercise of its rights and remedies under the Transaction Documents, at law or in equity, without any further obligation of Purchaser to provide any notice, demand or cure periods, including, without limitation, the right to issue any Margin Deficit Notice or to declare a Mandatory Early Repurchase Event with respect to any Purchased Asset.
Seller shall perform the obligations under this Article 4(a) by the close of the second (2nd) Business Day following receipt of the Margin Deficit Notice.