Purchased Loans definition

Purchased Loans means, with respect to each Purchase Agreement, the Loans offered for sale and purchased or substituted pursuant to such Purchase Agreement.

Purchased Loans means (i) with respect to any Transaction, the Eligible Loans sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Loans sold by Seller to Buyer.

Purchased Loans with respect to any Transaction at any time shall also include Additional Purchased Loans delivered pursuant to Section 6.1.

Examples of Purchased Loans in a sentence

• All purchases and sales of Purchased Loans and Available Unfunded Commitments under this Agreement shall be made in the currency under which such Purchased Loans and Available Unfunded Commitments, as applicable, is denominated.

• Seller shall immediately repurchase Purchased Loans necessary to comply with all of the requirements of Section 4.1 and Section 4.2 of this Agreement.

• As between Agent and Buyer, Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Program Documents in accordance with a request of Buyer, and such request and any action taken or failure to act pursuant thereto shall be binding upon Buyer and all future holders of the Purchased Loans.

• All documents relating to Purchased Loans in the possession of the Seller or its designee (including its agent, or any Subservicer) shall be segregated from other documents and securities in its or its designee’s possession and shall be identified as being owned by the Buyers and held by the Agent on behalf of the Buyers (which shall be referenced in the relevant books and records as “JPMorgan Chase Bank, N.A., Agent”) and subject to this Agreement.

• For avoidance of doubt, subject to the terms and conditions of this Agreement, the Seller may repurchase Purchased Loans, on a servicing released basis, and resell such Purchased Loans; provided that upon the occurrence and during the continuance of an Event of Default, the Seller may repurchase Purchased Loans by payment of the Repurchase Price therefor only upon approval of the Agent in its discretion exercised in accordance with the provisions of Section 22.

More Definitions of Purchased Loans

Purchased Loans as defined in Annex X to the Pooling Agreement.

Purchased Loans means the Eligible Loans sold by the Seller to the Buyers in Transactions, and any Eligible Loans substituted therefor in accordance with Section 11. The term “Purchased Loans” with respect to any Transaction at any time shall also include Additional Purchased Loans delivered pursuant to Section 6.1.

Purchased Loans shall have the meaning specified in Section 2.1(a)(6).

Purchased Loans has the meaning ascribed thereto in Section 3.

Purchased Loans means the Loans sold by a Seller to the Buyer in a Transaction, any Additional Loans and any Substituted Loans, whether or not such Loans were in fact Eligible Loans at the time of purchase, or thereafter.

Purchased Loans means (i) with respect to any Transaction, the Eligible Loans sold by Seller to the Buyer in such Transaction until such Eligible Loans are repurchased pursuant to this Agreement and (ii) with respect to the Transactions in general, all Eligible Loans sold by Seller to the Buyers until such Eligible Loans are repurchased pursuant to this Agreement.

Purchased Loans shall not mean or include loans repurchased by Seller pursuant to Section 6.1 or otherwise.