Purchased Loans definition

Purchased Loans means, with respect to each Purchase Agreement, the Loans offered for sale and purchased or substituted pursuant to such Purchase Agreement.

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Purchased Loans means (i) with respect to any Transaction, the Eligible Loan sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Loans sold by Seller to Buyer.

Purchased Loans with respect to any Transaction at any time shall also include Additional Purchased Loans delivered pursuant to Section 6.1.

Examples of Purchased Loans in a sentence

• The Seller also shall make available to the Agent and the Buyers a knowledgeable financial or accounting officer for the purpose of answering questions respecting the mortgage loan files and the Purchased Loans.

• For each of the Purchased Loans the representations set forth in Section 15.3 and 15.4 of the Current Repurchase Agreement are true and correct.

• The Seller agrees that, until all of Seller’s Obligations (other than (a) contingent reimbursement and indemnification obligations as to which no claim has been asserted and (b) Obligations related to any Products or any Hedge Agreements) have been paid or performed in full, all Purchased Loans have been repurchased and the Agent and the Buyers have no further Commitments or other obligations under this Agreement or the other Transaction Documents: 16.

• If the Agent delivers a Margin Call to the Seller at or before 10:00 a.m. (Houston, Texas time) on any Business Day, then the Seller shall transfer cash and/or Additional Purchased Loans as provided in Section 6.1 by 5:00 p.m. (Houston, Texas time) on the same Business Day.

• If the Seller should discover that, for any reason whatsoever, any entity responsible to the Seller by contract for managing or servicing any Purchased Loan has failed to perform in any material respects the Seller’s obligations under the Transaction Documents or any of the material obligations of such entities with respect to the Purchased Loans, the Seller shall promptly notify the Agent.

More Definitions of Purchased Loans

Purchased Loans as defined in Annex X to the Pooling Agreement.

Purchased Loans means the Eligible Loans sold by the Seller to the Buyers in Transactions, and any Eligible Loans substituted therefor in accordance with Section 11. The term “Purchased Loans” with respect to any Transaction at any time shall also include Additional Purchased Loans delivered pursuant to Section 6.1.

Purchased Loans shall have the meaning specified in Section 2.1(a)(6).

Purchased Loans means the Loans sold by a Seller to the Buyer in a Transaction, any Additional Loans and any Substituted Loans, whether or not such Loans were in fact Eligible Loans at the time of purchase, or thereafter.

Purchased Loans means (i) with respect to any Transaction, the Eligible Loans sold by Seller to the Buyer in such Transaction until such Eligible Loans are repurchased pursuant to this Agreement and (ii) with respect to the Transactions in general, all Eligible Loans sold by Seller to the Buyers until such Eligible Loans are repurchased pursuant to this Agreement.

Purchased Loans shall not mean or include loans repurchased by Seller pursuant to Section 6.1 or otherwise.

Purchased Loans means any of the following assets sold by Seller to Buyer in a Transaction and not on the date of determination repurchased; the related Mortgage Loans, together with the related Records, Servicing Rights, Seller’s or Guarantor’s rights under any related Hedge Instruments, or Seller’s or Guarantor’s rights under any takeout commitment related to the Mortgage Loans and other Collateral, such other property, rights, titles or interest as are specified on a related Transaction Notice, and all instruments, chattel paper, and general intangibles comprising or relating to all of the foregoing. The term “Purchased Loans” with respect to any Transaction at any time also shall include Additional Purchased Loans delivered pursuant to Section 6(a) hereof and Substitute Loans delivered pursuant to Section 17 hereof.