Proposed Pool definition
Examples of Proposed Pool in a sentence
Notwithstanding anything to the contrary herein, each Proposed Pool of Loans sold or pledged pursuant to a Purchase Agreement must include either all or none of the Eligible Loans made to any related Borrower (i.e. “by account”) other than Restricted Loans as defined in clause (ii) of the definition thereof.
If the related Seller is required to perform the Threshold Tests on a Proposed Pool, the initial Proposed Pool selected may be larger than the intended Proposed Pool to take into account Loans that may be removed during the testing steps.
If the aggregate Principal Balance of the final Proposed Pool after testing and removal exceeds the intended size of the Proposed Pool, the Seller may remove Loans at random until the intended size is achieved.
Each Purchase Agreement shall further require that if a Proposed Pool contains an amount of Loans that is less than the Relevant Loan Portfolio of a particular Servicer then servicing the Loans in such Seller’s Relevant Loan Portfolio, the Seller shall select Loans for sale or pledge from the Relevant Loan Portfolio at random (selected in the manner specified by the related Seller to, and approved by, the Department prior to such selection) within each applicable academic year.
From and after the date on which one or more Lennar Parties, on the one hand, and one or more Owner Parties, on the other hand, enter into an Addendum with respect to a Proposed Pool Property, such Proposed Pool Property shall thereafter be deemed a Pool Property.
At the request of an Owner Party, the Lennar Parties shall cooperate to amend this Agreement to memorialize the transition of Proposed Pool Properties to Pool Properties concurrently with or following consummation of such transaction, but such Proposed Pool Property shall be deemed a Pool Property upon execution of an Addendum irrespective of whether Owner Party makes such request.