Repurchase and Substitution Limits definition

Repurchase and Substitution Limits has the meaning assigned to such term in Section 10.1(a)(vii).
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Repurchase and Substitution Limits. The Aggregate Principal Balance of all Credit Risk Obligations and Defaulted Obligations which are optionally repurchased or substituted by the Retention Provider pursuant to the Master Transfer Agreement and Section 12.5 of this Indenture may not exceed an amount equal to 15% of the Net Purchased Loan Balance as of such date of repurchase or substitution; provided that the calculation of the Repurchase and Substitution Limits shall not include the purchase price of any Credit Risk Obligations or Defaulted Obligations sold by the Issuer to the Retention Provider (other than for purposes of a repurchase or substitution) pursuant to Section 12.1.
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Examples of Repurchase and Substitution Limits in a sentence

  • The limitations set forth in subclauses (A) through (K) above are referred to herein as the "Repurchase and Substitution Limits".

Related to Repurchase and Substitution Limits

  • Repurchase Agreement means a simultaneous agreement to buy, hold for a specified time, and sell back at a future date obligations, described by Government Code 2256.009(a)(1) (obligations of gov- ernmental entities) or 2256.013 (commercial paper) or if applicable, 2256.0204 (corporate bonds), at a market value at the time the funds are disbursed of not less than the principal amount of the funds disbursed. The term includes a direct security repurchase agreement and a reverse security repurchase agreement. Gov’t Code 2256.011(b)

  • Form of Fundamental Change Repurchase Notice means the “Form of Fundamental Change Repurchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A.