Examples of Transferor Warranties in a sentence
The CBC and the Security Trustee will rely solely on the Transferor Warranties.
If the Transferor Warranties are breached or the Transferor fails to repurchase the relevant Mortgage Receivable, the CBC may not be able to collect such Mortgage Receivable in whole or in part, which may result in the CBC not or not timely having sufficient funds to perform its payment obligations under the Guarantee and in losses under the Covered Bonds or the Coupons.
Should the Transferor transfer insufficient assets that comply with the Transferor Warranties or retransfer too many assets, and/or fail to take the appropriate action in case of a breach of such warranties, this may have an adverse effect on the ability of the CBC to make payments under the Covered Bonds.
Prior to the service of a Notice to Pay, the CBC relies on the Asset Cover Test and the Transferor Warranties for this purpose.
The CBC and the Security Trustee will instead rely on the Transferor Warranties given in the Guarantee Support Agreement by the Transferor, including the Mortgage Receivables Warranties in respect of the Mortgage Receivables.
As at the date of this Agreement, the Issuer represents and warrants to the Arranger and the Dealer that the Transferor Warranties are true and accurate in all material respects.
The Issuer shall be deemed to repeat the Transferor Warranties on each date on which the Transferor transfers any Eligible Receivables to the CBC to the Arranger and the relevant Dealers.
The LHCb detector layout showing the Vertex Locator (VELO), the dipole magnet, the tracking system with TT and the main tracking stations T1-T3, two Ring Imaging Cherenkov detectors (RICH) [6], the Scintillating Pad Detector (SPD), the Preshower (PS), the Electromagnetic (ECal) and Hadronic Calorimeter (HCal) [7] and the Muon Stations M1-M5 [8].
The CBC and the Security Trustee will rely instead on the Transferor Warranties and the Mortgage Receivables Warranties given in the Guarantee Support Agreement by the Transferor in respect of the relevant Mortgage Receivables.
This type of formal partnership with NGOs is new to Guyana, and is expected to become stronger and continue after the project is over, thus contributing to the GPAS sustainability.