Warranty Collateral Obligation definition

Warranty Collateral Obligation has the meaning set forth in Section 7.11.

Warranty Collateral Obligation has the meaning set forth in Section 6.1 of the Sale Agreement.

Warranty Collateral Obligation is defined in Section 6.1 of the Borrower Sale and Contribution Agreement.

Examples of Warranty Collateral Obligation in a sentence

• It is understood and agreed that the obligations of the Borrower to substitute any such Warranty Collateral Obligation is not intended to, and shall not, constitute a guaranty of the collectability or payment of any Collateral Obligation which is not collected, not paid, or uncollectible on account of the insolvency, bankruptcy or financial inability to pay of the related Obligor.

• On the Release Date of each Warranty Collateral Obligation, the Collateral Agent, for the benefit of the Secured Parties, shall automatically and without further action be deemed to release to the Borrower, without recourse, representation or warranty, all the right, title and interest and any Lien of the Collateral Agent, for the benefit of the Secured Parties in, to and under the Warranty Collateral Obligation and any Related Property and all future monies due or to become due with respect thereto.

• Upon payment of the Repurchase Amount pursuant to this Section 6.1, the Purchaser shall convey the related Warranty Collateral Obligation to the Seller, without warranty except for the absence of liens imposed by the Purchaser, the Facility Agent or their respective designees.

• It is understood and agreed that the obligation of the Seller to purchase such Warranty Collateral Obligation or substitute such Warranty Collateral Obligation is not intended to, and shall not, constitute a guaranty of the collectability or payment of any Transferred Asset which is not collected, not paid, or uncollectible on account of the insolvency, bankruptcy or financial inability to pay of the related obligor.

• The classification of a Collateral Obligation as a Warranty Collateral Obligation shall be based upon whether such Collateral Obligation was in breach or material breach, as applicable, of any representation, warranty, undertaking or covenant set forth above as of the related Purchase Date and not, for the avoidance of doubt, based on an Obligor’s financial inability to pay absent any such breach.

• The likely position of colonies has been mapped using satellite imagery using an algorithm that has relatively high errors of commission (Mathew Schwaller, NASA/Goddard Space Flight Center, pers.

• Upon payment of the Repurchase Amount pursuant to this Section 6.1, the Purchaser shall convey the related Warranty Collateral Obligation to the Seller, without warranty except for the absence of liens imposed by the Purchaser, the Collateral Agent or their respective designees.

• On the Release Date of each Warranty Collateral Obligation, the Collateral Agent, for the benefit of the Secured Parties, shall automatically and without further action be deemed to release to the Borrower, without recourse, representation or warranty, all the right, title and interest and any Lien of the Collateral Agent, for the benefit of the Secured Parties in, to and under the Warranty Collateral Obligation.

• Upon payment of the Repurchase Amount pursuant to this Section 9.35, the Borrower shall convey the related Warranty Collateral Obligation to the Equityholder, without warranty except for the absence of liens imposed by the Borrower, the Facility Agent or their respective designees.

• Upon confirmation of the deposit of the amounts set forth in Section 2.07(b)(i) into the Collection Account or the delivery by the Borrower of a Substitute Collateral Obligation for each Warranty Collateral Obligation (the date of such confirmation or delivery, the “Release Date”), such Warranty Collateral Obligation shall be removed from the Collateral Portfolio and, as applicable, the Substitute Collateral Obligation shall be included in the Collateral Portfolio.

More Definitions of Warranty Collateral Obligation

Warranty Collateral Obligation has the meaning set forth in Section 6.1.

Warranty Collateral Obligation is def ined in Section 6.1 of the Borrower Sale and Contribution Agreement. “WF Account Permitted Use” means maintenance of the accounts of the Borrower at Xxxxx Fargo Bank, National Association that were maintained in connection with, and pledged under and pursuant to, the Existing Xxxxx Facility (the “WF Accounts”) so long as the following xxxxxx ions are satisfied: (1) the WF Accounts are closed, and are no longer maintained, within 90 calendar days of the Closing Date, (2) use of the WF Accounts is limited solely to receiving funds and transferring funds to one or more of the Transaction Accounts, (3) Borrower instructs Xxxxx Fargo Bank, National Association to implement, and Xxxxx Fargo Bank, National Association implements, a daily sweep of funds credited to the WF Accounts to one or more of the Transaction Accounts and (4) Borrower shall provide the Administrative Agent such account statements, transaction histories, or other documentation for the WF Accounts as may be requested by the Administrative Agent to ensure the foregoing conditions are satisf ied.

Warranty Collateral Obligation means (a) any Collateral Obligation that fails to satisfy any criteria of the definition of Eligible Collateral Obligation as of the related Cut‑Off Date (other than any such criteria waived by the Administrative Agent prior to such Cut‑Off Date) or (b) a Collateral Obligation with respect to which a Warranty Event has occurred.