Substitute Eligible Collateral Loan definition

Substitute Eligible Collateral Loan means each Eligible Collateral Loan pledged by the Borrower to the Collateral Agent, on behalf of the Secured Parties, pursuant to Section 10.01(d).
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Substitute Eligible Collateral Loan has the meaning specified in Section 6.2(a).
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Examples of Substitute Eligible Collateral Loan in a sentence

  • It is understood and agreed that the obligation of the Seller to purchase the Collateral Loans or substitute a Substitute Eligible Collateral Loan for the Collateral Loans which are affected by or related to such Seller Purchase Event is not intended to, and shall not, constitute a guaranty of the collectability or payment of any Collateral Loan which is not collected, not paid or uncollectible on account of the insolvency, bankruptcy or financial inability to pay of the related Obligor.

  • It is understood and agreed that the obligation of the Seller to purchase the Loan Assets or substitute a Substitute Eligible Collateral Loan for the Loan Assets which are affected by or related to such Seller Purchase Event is not intended to, and shall not, constitute a guaranty of the collectability or payment of any Loan Asset which is not collected, not paid or uncollectible on account of the insolvency, bankruptcy or financial inability to pay of the related Obligor.

  • In the event that the Seller has notified the Purchaser that the Seller is incapable of paying the Repurchase Price or substituting the Loan Asset for a Substitute Eligible Collateral Loan, then such Loan Asset shall remain with the Purchaser (as a part of the Sale Portfolio) until the Seller deposits the Repurchase Price into the Collection Account or replaces such Loan Asset with a Substitute Eligible Collateral Loan.

Related to Substitute Eligible Collateral Loan

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Eligible Loan means a Loan offered for sale or substituted by Seller under a Sale Agreement which as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, is current or not more past due than permitted under such Sale Agreement in payment of principal or interest and which meets the following criteria as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the effective date of the related Xxxx of Sale, in the case of any Additional Loan or Substituted Loan: