Sale and Contribution Agreements definition
Examples of Sale and Contribution Agreements in a sentence
The Owner Trustee also acknowledges on behalf of the Trust the receipt in trust of the Mortgage Loans, the Bond Insurance Policy pursuant to Section 3.01, the rights with respect to the Derivative Contracts and the Special Certificate Cap Contract and the rights with respect to the representations and warranties made by the Seller under (i) the Mortgage Loan Sale and Contribution Agreement and (ii) the Subsequent Mortgage Loan Sale and Contribution Agreements which shall constitute the Owner Trust Estate.
In addition, the Depositor hereby assigns to the Trust all of its right, title, and interest in, to, and under (i) the Mortgage Loan Sale and Contribution Agreement to the extent of the Initial Mortgage Loans and (ii) the Subsequent Mortgage Loan Sale and Contribution Agreements to the extent of the Subsequent Mortgage Loans.
The Master Servicer, on behalf of and subject to the direction of the Indenture Trustee, as pledgee of the Mortgage Loans, or the Bond Insurer shall enforce the representations and warranties and related obligations for breaches thereof of the Seller pursuant to the Mortgage Loan Sale and Contribution Agreement and the Subsequent Mortgage Loan Sale and Contribution Agreements, as applicable.
If a Responsible Officer of the Indenture Trustee has actual knowledge of any breach of any representation or warranty made by the Seller in the Mortgage Loan Sale and Contribution Agreement or in the Subsequent Mortgage Loan Sale and Contribution Agreements, the Indenture Trustee shall promptly notify the Seller of such finding and the Seller's obligation to cure such defect or repurchase or substitute for the related Mortgage Loan.
Pursuant to the Prepetition Sale and Contribution Agreements, the Debtor Originators transfer certain trade receivables and related rights and interests (the “Receivables”) to the Non-Debtor Borrowers in exchange for cash and/or as a contribution of capital.
If a Responsible Officer of the Indenture Trustee has actual knowledge of any breach of any representation or warranty made by the Seller in the Mortgage Loan Sale and Contribution Agreement or in the Subsequent Mortgage Loan Sale and Contribution Agreements, the Indenture Trustee shall promptly notify the Seller and the Bond Insurer of such finding and the Seller's obligation to cure such defect or repurchase or substitute for the related Mortgage Loan.
The Master Servicer, on behalf of and subject to the direction of the Indenture Trustee, as pledgee of the Mortgage Loans, shall enforce the representations and warranties and related obligations for breaches thereof of the Seller pursuant to the Mortgage Loan Sale and Contribution Agreement and the Subsequent Mortgage Loan Sale and Contribution Agreements, as applicable.
If a Responsible Officer of the Indenture Trustee has actual knowledge of any breach of any representation or warranty made by the Seller in the Mortgage Loan Sale and Contribution Agreement or in the applicable Subsequent Mortgage Loan Sale and Contribution Agreements, the Indenture Trustee shall promptly notify the Seller and the Bond Insurer of such finding and the Seller's obligation to cure such defect or repurchase or substitute for the related Mortgage Loan.
The Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby or by the Sale and Contribution Agreements in any manner other than the sale of Assets by the Seller to a Purchaser or the sale or contribution of the Receivables and related Assets by the Originator to the Seller, as the case may be.
Each representation and warranty made by the Servicer under each other Transaction Document to which it is a party (including, without limitation, the Sale and Contribution Agreements) is true and correct in all material respects as of the date when made.