Upon Purchaser s receipt of the related Repurchase Price, Purchaser shall (i) promptly release its interest in the Deleted Mortgage Loan to the Seller, free and clear of any lien, charge or encumbrance suffered or incurred by the Purchaser, and (ii) promptly, but in no event later than twenty (20) days after payment of the Repurchase Price, deliver or cause to be delivered to the Seller any documents held by the Custodian, servicer or other designee relating to the Deleted Mortgage Loan. In the event of a repurchase or substitution, the Seller shall, simultaneously with such reassignment, give written notice to the Purchaser that such repurchase or substitution has taken place, and, in the case of substitution, identify a Qualified Substitute Mortgage Loan and amend the Mortgage Loan Schedule to reflect the addition of such Qualified Substitute Mortgage Loan to this Agreement. In connection with any such substitution, the Seller shall be deemed to have made as to such Qualified Substitute Mortgage Loan the representations and warranties set forth in this Agreement except that all such representations and warranties set forth in this Agreement shall be deemed made as of the date of such substitution. The Seller shall effect such substitution by delivering to the Custodian or to such other party as the Purchaser may designate in writing for such Qualified Substitute Mortgage Loan the documents required by Subsection 6.03, with the Mortgage Note endorsed as required by Subsection 6.03. No substitution will be made in any calendar month after the Determination Date for such month. The Seller shall cause the Interim Servicer to remit directly to the Purchaser, or its designee in accordance with the Purchaser's instructions the Monthly Payment less the Servicing Fee due, if any, on such Qualified Substitute Mortgage Loan or Loans in the month following the date of such substitution. Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall be retained by the Seller. For the month of substitution, distributions to the Purchaser shall include the Monthly Payment due on any Deleted Mortgage Loan in the month of substitution, and the Seller shall thereafter be entitled to retain all amounts subsequently received by the Seller in respect of such Deleted Mortgage Loan. For any month in which the Seller substitutes a Qualified Substitute Mortgage Loan for a Deleted Mortgage Loan, the Seller shall determine the amount (if any) by which...
Upon Purchaser s receipt of the Survey, Purchaser shall promptly deliver a copy of the Survey to Seller and the Title Insurer.
Upon Purchaser s request, Seller shall give Purchaser access to Seller's properties, documents and records and shall furnish copies of documents requested by Purchaser before Closing Date.
Examples of Upon Purchaser in a sentence
Upon Purchaser request in SOW/Work Order, Bidder must be responsible for removing old cabling while installing new.
Upon Purchaser notification of defective or unauthorized equipment or materials, and unacceptable installation/repair practices, the Bidder will immediately replace or modify affected practices or parts at no additional cost to the Purchaser.
Upon Purchaser or Enterprises Services request, Contractor must provide documentation supporting compliance with this requirement.
Upon Purchaser exercising the Option, Purchaser shall deliver to Seller, a purchase deposit paid pursuant to section 2.1(a) of this Agreement.
Upon Purchaser direction to Contractor to remove the Satellite from Storage, Contractor shall conduct the post-storage verification tests as set forth in Section 7 (Storage and Post-Storage Test) of Exhibit D, Satellite Test Plan, and ship the Satellite to the designated Launch Site (or to such other location as Purchaser may direct).
More Definitions of Upon Purchaser
Upon Purchaser s receipt of the Code Section 125 Transfer, each New Purchaser Employee will immediately begin participating in a Health Care Reimbursement Program and/or Dependent Care Reimbursement Program maintained by Purchaser ("Purchaser Code Section 125 Plan") for the remainder of the 1998 calendar year, subject to the following conditions: (a) new Purchaser Employees are not permitted to change the amount they previously elected to contribute to their health and/or dependent care reimbursement accounts for the 1998 calendar year solely because of the Code Section 125 Transfer. Employees may change elections to the extent permitted by Purchaser and Code section 125 and the regulations thereunder; (b) each New Purchaser Employee will be credited with an opening account balance equal to such employee's current account balance in the Seller's Health Care Reimbursement Program and/or the Seller's Dependent Care Reimbursement Program; (c) Purchaser will deduct from each such employee's pay on a pre-tax basis the amount which the employee previously elected to contribute to the Seller's Health Care Reimbursement Program and/or the Seller's Dependent Care Reimbursement Program; (d) Purchaser will reimburse each such employee for unreimbursed, eligible dependent care expenses incurred during the 1998 calendar year, up to the amount actually credited to the employee's dependent care reimbursement account; (e) Purchaser will reimburse each such employee for unreimbursed, eligible health care expenses up to the full
Upon Purchaser s receipt of the Terms Notice, the parties shall enter into good faith negotiations regarding the New Product. If the parties are unable to reach a mutually acceptable arrangement for Purchaser to distribute the new product within 60 days after Purchaser receives the Terms Notice, Seller may enter into an agreement with any third party to distribute the New Product, except that Seller shall not offer the New Product to a third party on terms that on balance are more favorable to that third party than the terms offered by Seller to Purchaser.
Upon Purchaser s disposition to persons unaffiliated with the Purchaser and with whom the Purchaser is not otherwise acting in concert of more than seventy five percent (75%) of the aggregate number of Closing Shares and Additional Shares issued, transferred or distributed to Purchaser, as the case may be, or such time as Purchaser's Beneficial Ownership of the then outstanding Voting Shares together with the Beneficial Ownership of Voting Securities by all members of the Purchaser Control Group, Affiliates of Purchaser and other 13D Group members, in the aggregate, is less than two percent (2%).
Upon Purchaser s receipt of all of the proceeds from the sale of a Mortgage Loan in accordance with the wiring instructions set forth in FNMA's Form 482 or 1068 all of Purchaser's legal or equitable interest in the Mortgage Loan shall terminate. The persons listed on the attached Schedule B are the authorized representatives ("Authorized Representatives") of Purchaser. Custodian shall not honor any communication relating to a Mortgage Loan, which is not confirmed by the written or telephonic consent, confirmed in writing at the request of Custodian, of an Authorized Representative of Purchaser. Please execute and return the enclosed copy of this Master Bailee Letter in the enclosed self-addressed envelope. Sincerely, XXXXX XXXXXX REAL ESTATE SECURITIES INC. (Purchaser) By:________________________________________ Name: Title: Agreed to: THE CHASE MANHATTAN BANK, N.A. (Custodian)
Upon Purchaser s default in the repayment of the Note, which default is not cured after written notice to Purchaser from Shareholder and the expiration of a reasonable period of time within which Purchaser has not cured or made a good faith attempt to cure such default (not less than 30 days), then the foregoing covenants of Shareholder shall be of no further force or effect. Provided however, in the event Purchaser later cures such default, then the foregoing covenants shall also be automatically reinstated as if no default under the Note had occurred. The Shareholder hereby acknowledges that the foregoing time and area restrictions are reasonable in scope and necessary for the protection of the goodwill of the Corporation and that a breach of this covenant would cause the Purchaser and the Corporation substantial damage impossible of precise determination. Accordingly, in addition to such other rights and remedies as may be available to the Purchaser and the Corporation in the event of any breach, actual or threatened, of the foregoing provisions of this Section 7, the Purchaser and the Corporation (or any successor or successors thereof), shall be entitled to enjoin such breach, actual or threatened. The Shareholder further agrees that should any portion of the foregoing covenant be unenforceable because of the scope thereof or the period covered thereby or otherwise, the covenant shall be deemed to be reduced and limited to enable it to be enforced to the extent permissible under anything to the contrary stated in this Section 7, the Purchaser hereby acknowledges that the Shareholder is and shall continue to be the sole shareholder of Lone Star Screw Company of Houston, Inc., a herms of this Agreement. Purchaser agrees that the Shareholder and Lone Star Screw shall be permitted to continue to conduct business with those certain specified customers of Lone Star Screw listed on Schedule 7 to the Shareholder's Disclosure Letter (the "Specified Customers") and that such activity shall not be considered a violation of the provisions of Section 7 above, but only on the condition that all products sold by Lone Star Screw and the Shareholder to the Specified Customers shall be purchased by Lone Star Screw from the Corporation on terms satisfactory to the Corporation.
Upon Purchaser s representations contained in the Agreement. Purchaser hereby represents and warrants as follows:
Upon Purchaser s reasonable request, Vendor agrees to execute such additional documents, including Exhibit "A" attached hereto and made a part hereof ("Short Form Assignment"), which are intended to further effectuate the intentions of this Agreement.