Repurchase Penalty definition

Repurchase Penalty means, (i) if the Repurchase Date is within 12 months of the date of issuance of the applicable Bond or beneficial interest therein, then 10% of the initial principal amount of such Bond or beneficial interest being repurchased; and (ii) if the Repurchase Date is later than the date which is 12 months following the issuance date of the applicable Bond or beneficial interest therein, then 8% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Repurchase Penalty shall have the meaning set forth in Section 3.2(b).
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Repurchase Penalty means, if the Repurchase Date is within 12 months, 24 months or 36 months of the date of issuance of the applicable A Bond or beneficial interest therein, then 10%, 8%, and 6% respectively of the initial principal amount of such Bond or beneficial interest being repurchased and if the Repurchase Date is within 12 months of the date of issuance of the applicable R Bond or beneficial interest therein, then 4% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Examples of Repurchase Penalty in a sentence

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Securities at the request of Holders; provided that no such modification shall adversely affect the rights of Holders to the repurchase of Securities for which Repurchase Requests are then outstanding.

  • Any such requested repurchase shall be made only at the Company’s discretion and, if made, will be subject to an early Repurchase Penalty to be deducted from the payment of such Holder’s Repurchase Price on the Repurchase Date.

  • Any such requested repurchase shall be made only at the Company's discretion and, if made, will be subject to an early Repurchase Penalty to be deducted from the payment of such Holder's Repurchase Price on the Repurchase Date.

  • Any such requested repurchase shall be made only at the Company’s discretion and, if made, will be subject to an early Repurchase Penalty to be deducted from the payment of such Holder’s or Beneficial Holder’s Repurchase Price on the Repurchase Date.

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Securities at the request of Holders.

  • Subject to subsection (c) below, a Holder may request the Company to repurchase, in whole and not in part, the Security held by such Holder by delivering a Repurchase Request to the Company; provided that an early Repurchase Penalty will be deducted from the payment of such Holder's Repurchase Price on the Repurchase Date, unless the Repurchase Request is given pursuant to paragraph (a) above.

  • Submissions from several Parties support this view, emphasizing the need for SMART (specific, measurable, achievable, realistic, time-bound) targets.44 In this view, the Strategic Plan should be specific on how, by when and by whom, the targets/goals should be achieved -- the process and key steps to achieve the long- term vision/target and short-term targets/goals, including accountability, should be made explicit.

  • The Company may waive or reduce any early Repurchase Penalty in its sole discretion and may modify at any time its policy on the repurchase of Notes at the request of Holders; provided that no such modification shall adversely affect the rights of Holders to the repurchase of Notes for which Repurchase Requests are then outstanding.

  • Subject to subsections (c) and (d) below, a Holder may request the Company to repurchase, in whole and not in part, the Note held by such Holder by delivering a Repurchase Request to the Company; provided that an early Repurchase Penalty will be deducted from the payment of such Holder's Repurchase Price on the Repurchase Date, unless the Repurchase Request is given pursuant to paragraph (a) above.


More Definitions of Repurchase Penalty

Repurchase Penalty means, (i) if the Repurchase Request is for disability or bankruptcy, there is no penalty; (ii) if the Repurchase Request is for Death, then 10% of the initial principal amount of such Bond or beneficial interest being repurchased; and (iii) if the Repurchase Request is for any other reason, then 12% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Repurchase Penalty means 6% of the initial principal amount of such Bond or beneficial interest being repurchased.
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Related to Repurchase Penalty

  • Repurchase Period means a period of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability.

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

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

  • 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.

  • Optional Repurchase is defined in Section 5.1(b).

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

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

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

  • Repurchase Price means, with respect to any Loan, first taking the Book Value of the Asset at Bank Closing and either subtracting the Asset discount or adding the Asset premium, and subsequently adjusting that total by (i) adding any advances and interest on such Loan after Bank Closing, (ii) subtracting the total amount received by the Assuming Institution for such Loan after Bank Closing, regardless of how applied, and (iii) adding total disbursements of principal made by Receiver not otherwise included in the Book Value.

  • Repurchase Request shall have the meaning assigned to such term in Section 2.4(a) of the Sale and Servicing Agreement.

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

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

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

  • Termination Price As defined in Section 9.01.

  • Repurchase Date has the meaning specified in Section 14.1.

  • Optional Termination Price On any date after the Initial Optional Termination Date, an amount equal to the sum of (A) the aggregate Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan that has become an REO Property) as of the Distribution Date on which the proceeds of the Optional Termination are distributed to the Certificateholders, plus accrued interest thereon at the applicable Mortgage Rate as of the Due Date preceding the Distribution Date on which the proceeds of the Optional Termination are distributed to Certificateholders and the fair market value of any REO Property, plus accrued interest thereon as of the Distribution Date on which the proceeds of the Optional Termination are distributed to Certificateholders, (B) any unreimbursed out-of-pocket costs and expenses owed to the Master Servicer, the Trustee or the Securities Administrator (including any amounts incurred by the Securities Administrator in connection with conducting the Auction), a Servicer or the Master Servicer and any unpaid or unreimbursed Servicing Fees, Monthly Advances and Servicing Advances, (C) any unreimbursed costs, penalties and/or damages incurred by the Trust Fund in connection with any violation relating to any of the Mortgage Loans of any predatory or abusive lending law and (D) in the event an Auction has been conducted, all reasonable fees and expenses incurred by the Securities Administrator to conduct the Auction.

  • Redemption Price or Repurchase Price means the amount to be paid to the relevant Holder upon redemption of that Unit, such amount to be determined pursuant to this document.

  • Right of Repurchase means the Company’s right of repurchase described in Section 7.

  • Call Option Repayment Date means the settlement date for the Call Option determined by the Issuer pursuant to Clause 10.2 (Voluntary early redemption – Call Option), Clause 10.3(d) or a date agreed upon between the Bond Trustee and the Issuer in connection with such redemption of Bonds.

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

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

  • Change of Control Repurchase Event means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

  • 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.

  • Administrative Purchase Payment means, with respect to a Payment Date and to an Administrative Receivable purchased by the Seller or the Servicer as of the end of the related Collection Period, the sum of (a) the unpaid principal balance owed by the related Obligor in respect of such Receivable and (b) interest on such unpaid principal balance at a rate equal to the APR of the related Receivable from the date of last payment by such Obligor to the last day of such Collection Period.