Example ContractsClausesCross-Collateralization
Cross-Collateralization
Cross-Collateralization contract clause examples
Previous results

The definition of „Cross-Default” is amended and restated as follows:

Within forty-five (45) Business Days following the Closing Date, the shall deliver to the [[Organization A:Organization]] a statement (the “Initial Reconciliation Statement”) prepared in good faith by the , in the same format as the statement of the Estimated Initial Premium and Estimated Over-Collateralization Amount, and in accordance with SAP setting forth the actual amount of the Initial Premium and the actual amount of the Over-Collateralization Amount.

Financial Covenant Cross Default” has the meaning specified in [Section 9.01(b)].

States of America, the District of Columbia or the Commonwealth of Puerto Rico. Except with respect to any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, no Mortgage Loan has a Mortgagor that is an affiliate of another Mortgagor under another Mortgage Loan.

49 Insert cross-reference to section of the Indenture relating to optional redemption.

Cross Default Threshold” means $20,000,000 (or its equivalent in the relevant currency of payment).

11 Include cross reference to the Indenture section relating to Common Stock Change Events.

29 Insert cross references to sections of the Indenture defining the share delivery obligation.

If the exercise of remedies by one party would materially impair the ability of the other party to exercise its remedies with respect to the Primary Collateral securing the Crossed Underlying Loans held by such party, then the Seller and the Purchaser shall forbear from exercising such remedies until the Mortgage Loan documents evidencing and securing the relevant Mortgage Loans can be modified in a manner that complies with this Agreement to remove the threat of material impairment as a result of the exercise of remedies or some other accommodation can be reached. Any reserve or other cash collateral or letters of credit securing the Crossed Underlying Loans shall be allocated between such Crossed Underlying Loans in accordance with the related Mortgage Loan documents, or otherwise on a pro rata basis based upon their outstanding Stated Principal Balances. Notwithstanding the foregoing, if a Crossed Underlying Loan included in the Trust Fund is modified to terminate the related cross-collateralization and/or cross-default provisions, as a condition to such modification, the Seller shall furnish to the Trustee and the Certificate Administrator an Opinion of Counsel that any modification shall not cause an Adverse REMIC Event. Any expenses incurred by the Purchaser in connection with such modification or accommodation (including but not limited to recoverable attorney fees) shall be paid by the Seller.

44 Include cross reference to sections of the Indenture describing the consequences of above market tender offers.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.