Warranty Loan definition

Warranty Loan. Any Loan that fails to satisfy any criteria of the definition of Eligible Loan as of the applicable Cut-Off Date of such Loan or any Loan with respect to which a Warranty Event has occurred.
Warranty Loan has the meaning specified in the Purchase and Contribution Agreement.
Warranty Loan. Any Loan (a) that fails to satisfy any criteria set forth in clause (iii) of the definition ofEligible Loan” as of any date (except with respect to any such criteria that is explicitly stated to apply with respect solely to the date of acquisition of such Loan in which case, the failure to satisfy such criteria as of such date of acquisition), other than the failure of such Loan to satisfy the criteria set forth in clause (iii)(g) of the definition of “Eligible Loan” as of any date other than the date of acquisition of such Loan, (b) with respect to which a Warranty Event has occurred or (c) with respect to which the Borrower has failed to deliver the Required Loan Documents described in Section 3.2(i) within the time periods set forth therein.

Examples of Warranty Loan in a sentence

  • Except as otherwise permitted herein and in respect of any Discretionary Sale, Substitution or sale of a Warranty Loan or a Zero Value Asset, the Borrower will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other than Permitted Liens) on any Collateral, whether now existing or hereafter transferred hereunder to the Borrower, or any interest therein.


More Definitions of Warranty Loan

Warranty Loan. Any Loan for which the Transferor becomes subject to an obligation under the Sale Agreement to repurchase or substitute such Loan.
Warranty Loan. Any Loan (a) that fails to satisfy any criteria set forth in clauses (ii)(f), (ii)(r), (ii)(s), (ii)(gg), or (ii)(nn) (but only for failure to satisfy clause (f) and (g) of the definition ofEligible Obligor”) of the definition of “Eligible Loan” as of any date (except with respect to any such criteria that is explicitly stated to apply with respect solely to the date of acquisition of such Loan) or (b) with respect to which the Borrower has failed to deliver the Required Loan Documents described in Section 3.2(i) within the time periods set forth therein.
Warranty Loan. Defined in Section 6.1.
Warranty Loan. Any Loan that fails to satisfy any criteria of the definition of Eligible Loan as of the Closing Date and the same continues unremedied for a period of thirty (30) days (or such shorter time as determined by the Servicer in its sole discretion) after the date on which the applicable Seller and/or the Servicer becomes aware or reasonably should have become aware thereof.
Warranty Loan means any Loan, as of the related Cut-Off Date, which did not satisfy the definition ofEligible Loan” or there otherwise existed a breach of any representation or warranty relating to such Loan.
Warranty Loan. A Loan which the Warranty Purchaser has become obligated to repurchase pursuant to Section 2.12 of the Purchase Agreement or Section 2.12 of the Pooling and Servicing Agreement.
Warranty Loan means any Loan with respect to which a Warranty Event has occurred, and including any Loan deemed a Warranty Loan pursuant to Clause 5.1.2.