Repurchase Loan definition

Repurchase Loan means a Loan repurchased by the Company from a GNMA, ▇▇▇▇▇▇ Mae or other Approved Investor pool that meets the following conditions: (i) payments are more than ninety (90) days past due when repurchased by the Company; (ii) no notice or other indication has been given by FHA or VA challenging the obligation of FHA or VA to pay the full amount due on any insurance or guaranty certificate in connection with such Loans (and in the good-faith estimation of the Company, no such challenge is forthcoming); (iii) the Loan does not have any payments more than seven hundred twenty (720) days past due (unless the borrower of such Loan filed a voluntary bankruptcy petition or had an involuntary bankruptcy petition filed against it while the payments on such mortgage loan were past due, in which case such seven hundred twenty (720) day period shall be extended to one thousand eighty (1080) days); (iv) the related Repurchase Advance shall be due and payable no later than one hundred eighty (180) days after the date of such Advance, or earlier upon receipt of proceeds from the sale of the property, sale of the mortgage or settlement of the claim with the investor, insurer or guarantor; (v) not more than ninety (90) days have passed since reinstatement of the Loan; and (vi) the Loan shall not be a mortgage loan which in the good faith estimation of the Company is deemed to be a "no bid" candidate under the current VA practice, provided that such estimation by the Company may take into account the amount of any buy down of the principal balance of such Loan which has actually been made by the Company, or is anticipated to be made by the Company, provided that the amount of any such anticipated buy down shall be deducted from the Collateral Value of such Loan.

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Repurchase Loan means the non-interest bearing loan made by Purchaser to Eveready in the amount necessary to fund Eveready’s payment obligation in connection with the repurchase of Eveready Debentures in section 2.4(i);

Repurchase Loan means any Single Family Mortgage Loan or Qualified Rehabilitation Loan which is subject to repurchase pursuant to a Repurchase Agreement.

Examples of Repurchase Loan in a sentence

The Repurchase Loan Rate shall be adjusted at the end of each calendar month to the rate equal to the Repurchase Loan Rate determined by reference to the then-current LIBOR.
Interest shall accrue on the principal amount of Repurchase Advances outstanding hereon at an annual rate equal to LIBOR plus 162.5 basis points ("Repurchase Loan Rate").
In addition to the foregoing, for each of the thirty (30) days following the funding of (i) a Securities Repurchase Loan or (ii) an Acquisition Loan, Borrower shall maintain Availability of not less than $15,000,000; provided, however, that if the Target Asset Inclusion Conditions are satisfied, assets of the Target shall be included in the calculation of Availability for purposes of clause (ii) hereof.
The Stock Repurchase Loan was used only for the purpose of financing the repurchase of Borrower's shares of stock from its shareholders.
The proceeds of the Loans will only be (i) used in conjunction with the Citi Repurchase Loan Agreement to fund transitional bridge loans consistent with the Borrower’s business and approved by the Borrower’s Board of Trustees or (ii) held by the Borrower in order to satisfy the minimum Cash Liquidity (as such term is defined in the Guaranty) financial covenant required under the Guaranty.
The Company shall, or shall cause its applicable Subsidiary to, accept any such Tax Equity Repurchase Loan and use the proceeds of such Tax Equity Repurchase Loan, without the consent of any other Member, to effect such Tax Equity Repurchase.
No repayment or prepayment of the Stock Repurchase Loan by the Borrower shall be reason for any relending or additional lending of the Stock Repurchase Loan to the Borrower.
In the event that any Member (other than the Tax Equity Repurchasing Member) elects not to make a Tax Equity Repurchase Loan in the full amount of its Distribution Percentage of the aggregate amount of such Tax Equity Repurchase Loans (as set forth in the Tax Equity Repurchase Loan Notice), then the other Members shall have the right to fund their pro rata share of the shortfall through Tax Equity Repurchase Loans up to the full amount necessary to effect such Tax Equity Repurchase.
No repayment or prepayment of the Stock Repurchase Loan shall be reason for any relending or additional lending of proceeds of the Stock Repurchase Loan to the Borrower.
The unpaid balance of the Stock Repurchase Loan shall bear interest at a rate of 3.56% per annum.

More Definitions of Repurchase Loan

Repurchase Loan has the meaning ascribed thereto in clause 11.3 below;

Repurchase Loan shall have the meaning ascribed to it in Section 3.3.

Repurchase Loan means a Mortgage Loan which the Company is required by an Investor to repurchase under its respective Purchase Agreement."

Repurchase Loan means a Revolving Loan designated as such in the related Borrowing Request delivered pursuant to Section 2.03.