Repurchase Loan definition

Repurchase Loan means a Loan repurchased by the Company from a GNMA, Xxxxxx 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.
Sample 1
Repurchase Loan means a Mortgage Loan which the Company is required by an Investor to repurchase under its respective Purchase Agreement."
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Repurchase Loan shall have the meaning ascribed to it in Section 3.3.
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Examples of Repurchase Loan in a sentence

  • The Seller may, instead of purchasing a Repurchase Loan from the Issuer, require the Issuer to accept in consideration for the purchase, the transfer of a Replacement Loan such that the Replacement Loan Consideration of such Replacement Loans together with any cash consideration equals the cash consideration that would have been payable by the Seller to the Issuer.

  • In terms of the Indicative Capital Structure, based on an assumed level of re-investment of 23.78% of MTN Zakhele Shareholders (by aggregate shareholding), the number of Repurchase Loan Shares is presently calculated to be 11 024 255.

  • Further, MTN will not repurchase the Repurchase Loan Shares and consequently will pay R4 million less Securities Transfer Tax.

  • The MTN Shares will be repurchased for cash of R2,684.7 million (comprising 20,156,764 Repurchase Cash Shares) and a loan owing by MTN to MTN Zakhele (for 11,024,255 Repurchase Loan Shares), amounting to R1,468 million.

  • Given that the Repurchase Shares will be acquired by Lexshell 615 to be held in treasury, the Repurchase will not result in a reduction in share capital as the Repurchase Shares will not be cancelled but will increase the number of Liberty Shares held in treasury (see paragraph 15.2 for the effect of the Repurchase on Liberty’s share capital) The Repurchase Loan Claim will give rise to a debt owing by Lexshell 615 in favour of the Liberty Trust.

  • The change in Repurchase Loan Shares (arising from the MTN Zakhele Re-investment) does not have an impact on NAV, as the MTN Zakhele Re-investment is accounted for as an option premium within equity and offsets the change in share capital.

  • The Repurchase Loan Claim will not bear interest and shall be repayable on demand.

  • 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.

  • Developing a detailed population model for the Commander Islands would provide a critical framework for analyzing and tracking population changes.

  • Works include widening shoulders, adding passing lanes in steep areas, improving curves, and strengthening bridges.


More Definitions of Repurchase Loan

Repurchase Loan means any Single Family Mortgage Loan or Qualified Rehabilitation Loan which is subject to repurchase pursuant to a Repurchase Agreement.
Sample 1
Repurchase Loan means a Revolving Loan designated as such in the related Borrowing Request delivered pursuant to Section 2.03.
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Repurchase Loan has the meaning ascribed thereto in clause 11.3 below;
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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);
Sample 1

Related to Repurchase Loan

  • Repurchased Loan has the meaning set forth in Section 2.3(a).

  • Repurchase Value means the Fair Market Value in the event the award to be repurchased under Section 10.2 is comprised of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market Value) in the event the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.

  • Repurchase Amount shall have the meaning set forth in Section 4.2 hereof.

  • Repurchase As defined in Section 2.03(a) of this Agreement.

  • Repurchase Price means, with respect to any Loan the Book Value, adjusted to reflect changes to Book Value after Bank Closing, plus (i) any advances and interest on such Loan after Bank Closing, minus (ii) the total of amounts received by the Assuming Bank for such Loan, regardless of how applied, after Bank Closing, plus (iii) advances made by Assuming Bank, plus (iv) total disbursements of principal made by Receiver that are not included in the Book Value.

  • Repurchase Date has the meaning specified in Section 14.1.

  • Repurchase Event means the occurrence of a breach of any of the Seller’s representations and warranties in Section 3.1(a) or any other event which requires the repurchase of a Receivable by the Seller, under the Sale and Servicing Agreement.

  • Repurchase Assets has the meaning assigned thereto in Section 8 hereof.

  • Purchased Loan A motor vehicle retail installment loan relating to the sale of an automobile or light-duty truck originated by a Dealer, purchased by CAC or a subsidiary from such Dealer and evidenced by a motor vehicle retail installment sales contract.

  • Repurchase Upon Fundamental Change means the repurchase of any Note by the Company pursuant to Section 4.02.

  • Repurchase Obligation has the meaning set forth in Section 8.6.

  • Early Repurchase Date shall have the meaning specified in Section 3(d) of this Agreement.

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Repurchase Offer has the meaning set forth in Section 3.04.

  • Accelerated Repurchase Date shall have the meaning specified in Section 14(b)(i) of this Agreement.

  • Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.

  • Treasury Portfolio Purchase Price means the lowest aggregate price quoted by a primary U.S. government securities dealer in New York City to the Quotation Agent on the third Business Day immediately preceding the Tax Event Redemption Date for the purchase of the Treasury Portfolio for settlement on the Tax Event Redemption Date.

  • Repurchase Obligations shall have the meaning specified in Section 7(b).

  • Repurchase Request As defined in Section 2.03(g).

  • Delinquent Loan A Mortgage Loan that is delinquent at least sixty (60) days in respect of its Monthly Payments or Balloon Payment, if any, in either case such delinquency to be determined without giving effect to any Grace Period.

  • Optional Redemption Pricing Date means a Valuation Date on which a Redemption Order is determined to be valid and accepted by or on behalf of the Issuer in accordance with the terms of the LS Operating Procedures Agreement.

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • 60+ Day Delinquent Loan Each Mortgage Loan (including each Mortgage Loan in foreclosure and each Mortgage Loan for which the Mortgagor has filed for bankruptcy after the Closing Date) with respect to which any portion of a Monthly Payment is, as of the last day of the prior Collection Period, two months or more past due and each Mortgage Loan relating to an REO Property.

  • Eligible Repurchase Obligations Repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or trust company (acting as principal) described in clauses (c)(ii) and (c)(iv) of the definition of Permitted Investments.

  • Interest Transfer Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month's interest on the applicable Principal Transfer Amount at the weighted average Certificate Interest Rate of the applicable Undercollateralized Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.