Common use of Acceleration Events Clause in Contracts

Acceleration Events. The occurrence of any of the following events shall be an Acceleration Event with respect to an Advance: (a) the Pledged Mortgage Loan securing the Advance is deemed to be a Defective Mortgage Loan; (b) Thirty (30) calendar days elapse from the date the Collateral Documents relating to the Pledged Mortgage Loan with respect to which the Advance was made were delivered to an Investor and such Investor has not returned the Collateral Documents or purchased the Pledged Mortgage Loan, unless an extension is granted by Lender, in its sole discretion; (c) Ten (10) Business Days elapse from the date a Collateral Document relating to the Pledged Mortgage Loan with respect to which the Advance was made was delivered to Borrower for correction or completion, without being returned to Lender or its designee; (d) Borrower fails to deliver to Lender the related Collateral Documents within the Wet Mortgage Loans Maximum Dwell Time or any Collateral Document delivered to Lender, upon examination by Lender, is found not to be in compliance with the requirements of this Agreement or the related Purchase Commitment and is not corrected within the Wet Mortgage Loans Maximum Dwell Time; or (e) The sale of the Pledged Mortgage Loan with respect to which such Advance was made.

Acceleration Events. The occurrence of any of the following events shall be an Acceleration Event with respect to an Advance: (a) the Pledged Mortgage Loan securing the Advance is deemed to be a Defective Mortgage Loan; (b) Thirty With the exception of Mortgage Loans pledged to Countrywide's Correspondent Lending Division, in the event thirty (30) calendar days elapse from the date the Collateral Documents relating to the Pledged Mortgage Loan with respect to which the Advance was made were delivered to an Investor and such Investor has not returned the Collateral Documents or purchased the Pledged Mortgage Loan, unless an extension is granted by Lender, in its sole discretion; (c) Ten (10) Business Days elapse from the date a Collateral Document relating to the Pledged Mortgage Loan with respect to which the Advance was made was delivered to Borrower for correction or completion, without being returned to Lender or its designee; (d) Borrower fails to deliver to Lender the related Collateral Documents within the Wet Mortgage Loans Maximum Dwell Time or any Collateral Document delivered to Lender, upon examination by Lender, is found not to be in compliance with the requirements of this Agreement or the related Purchase Commitment and is not corrected within the Wet Mortgage Loans Maximum Dwell Time; or (e) The sale of the Pledged Mortgage Loan with respect to which such Advance was made.