Agreement Defaults Sample Clauses

Agreement Defaults. In the event that there shall be an Agreement Default with respect to any Asset issued or guaranteed by ▇▇▇▇▇▇▇ Mac and directly or indirectly backing a REMIC Pool (including a Lower-Tier REMIC Pool), the Holders of the affected REMIC Certificates issued in respect of such REMIC Pool (including, for this purpose, the related Upper-Tier REMIC Pool) and any related MACR Certificates shall have the right to take such actions with respect to such Agreement Default as the applicable PC Agreement, Pass-Through Agreement or this Agreement (or any predecessor), as the case may be, affords the Administrator (or its agent) on behalf of the Trustee as the record holder of the affected Asset. For this purpose, each Holder of an affected Certificate issued in respect of a Series shall be deemed to be the holder of a percentage of each such affected Asset equal to the percentage obtained by dividing the then outstanding principal amount of such Holder’s Certificate (which shall be zero in the case of an Interest Only Class without a principal amount) by the then aggregate outstanding principal amount of all affected REMIC Certificates and MACR Certificates of the same Series. ▇▇▇▇▇▇▇ Mac hereby irrevocably authorizes the Holders to exercise all such rights in respect of an Agreement Default to the extent set forth in this Section.
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Agreement Defaults. In the event that there shall be an Agreement Default with respect to any Asset issued or guaranteed by ▇▇▇▇▇▇▇ Mac, the Holders of the Pass-Through Certificates issued in respect of an affected Pass-Through Pool shall have the right to take such actions with respect to such Agreement Default as the applicable PC Agreement, Multiclass Certificate Agreement, or this Agreement (or any predecessor), as the case may be, affords the Administrator (or its agent) on behalf of the Trustee, as the record holder of the affected Asset. For this purpose, each Holder of a Pass-Through Certificate created in respect of the affected Pass-Through Pool shall be deemed to be the holder of the percentage of such affected Asset equal to the percentage obtained by dividing the then outstanding principal amount of such Holder’s Pass-Through Certificate (which shall be zero in the case of a Class with a notional principal amount) by the then aggregate outstanding principal amount of all Pass-Through Certificates issued in respect of the same Pass-Through Pool. ▇▇▇▇▇▇▇ Mac hereby irrevocably authorizes the Holders to exercise all such rights in respect of any Agreement Default to the extent set forth in this Section.
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Agreement Defaults. In the event that there shall be an Agreement Default with respect to any Asset issued or guaranteed by ▇▇▇▇▇▇▇ Mac, the Holders of the Pass-Through Certificates issued in respect of an affected Pass-Through Pool shall have the right to take such actions with respect to such Agreement Default as the applicable PC Agreement or this Agreement, as the case may be, affords the Administrator (or its agent) on behalf of the Trustee, as the record holder of the affected Asset. For this purpose, each Holder of a Pass-Through Certificate created in respect of the affected Pass-Through Pool shall be deemed to be the holder of the percentage of such affected Asset equal to the percentage obtained by dividing the then outstanding principal amount of such Holder’s Pass-Through Certificate (which shall be zero in the case of a Class with a notional principal amount) by the then aggregate outstanding principal amount of all Pass-Through Certificates issued in respect of the same Pass-Through Pool. ▇▇▇▇▇▇▇ Mac hereby irrevocably authorizes the Holders to exercise all such rights in respect of any Agreement Default to the extent set forth in this Section.
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Agreement Defaults. In the event that there shall be an Agreement Default with respect to any Asset issued or guaranteed by ▇▇▇▇▇▇▇ ▇▇▇ or ▇▇▇▇▇▇ ▇▇▇ and directly or indirectly backing a REMIC Pool (including a Lower-Tier REMIC Pool), the Holders of the affected REMIC Certificates issued in respect of such REMIC Pool (including, for this purpose, the related Upper-Tier REMIC Pool) and any related MACR Certificates shall have the right to take such actions with respect to such Agreement Default as the applicable Underlying Trust Agreement or this Agreement (or any predecessor), as the case may be,
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Agreement Defaults. In the event that there shall be an Agreement Default with
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Agreement Defaults. In the event that there shall be an Agreement Default with respect to any Asset, the Holders of the Pass-Through Certificates issued in respect of an affected Pass-Through Pool shall have the right to take such actions with respect to such Agreement Default as the applicable PC Agreement or Multiclass REMIC Certificate Agreement, or this Agreement, as the case may be, affords ▇▇▇▇▇▇▇ Mac or its agent as the record holder of the affected Asset. For this purpose, each Holder of a Pass- Through Certificate created in respect of the affected Pass-Through Pool shall be deemed to be the holder of the percentage of such affected Asset equal to the percentage obtained by dividing the then outstanding principal amount of such Holder's Pass-Through Certificate (which shall be zero in the case of a Class with a notional principal amount) by the then aggregate outstanding principal amount of all Pass-Through
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Agreement Defaults. In the event that there shall be an Agreement Default with respect to any Asset, the Holders of the Pass-Through Certificates issued in respect of an affected Pass-Through Pool shall have the right to take such actions with respect to such Agreement Default as the applicable PC Agreement or Multiclass REMIC Certificate Agreement, or this Agreement, as the case may be, affords Freddie Mac or its agent as the record holder of the affected Asset. For this purpose, each Holder of a Pass- Through Certificate created in respect of the affected Pass-Through Pool shall be deemed to be the holder of the percentage of such affected Asset equal to the percentage obtained by dividing the then outstanding principal amount of such Holder's Pass-Through Certificate (which shall be zero in the case of a Class with a notional principal amount) by the then aggregate outstanding principal amount of all Pass-Through Certificates issued in respect of the same Pass-Through Pool. Freddie Mac hereby irrevocably authorizes the Holders to exercise all such rights in respect of any Agreement Default to the extent set forth in this Section.
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Agreement Defaults. In the event that there shall be an Agreement Default with Section 6.02. Amendments of UMBS and MBS Agreement, Mirror Certificates Agreement, Multiclass Certificate Agreement and/or this Agreement by Freddie Mac. In the event that Freddie Mac desires to amend any UMBS and MBS Agreement, any Mirror Certificates Agreement, any Multiclass Certificate Agreement or this Agreement with respect to any Asset issued or guaranteed by Freddie Mac and directly or indirectly backing a Pass-Through Pool, the Administrator (or its agent) on behalf of the Trustee may give any such consent thereto as may need to be given by the record holder of such Asset; provided, however, that if any such amendment would adversely and materially affect the interest of any Holder of a Pass-Through Certificate, the Administrator (or its agent) on behalf of the Trustee may consent to such amendment only with the written consent of the Holders of Pass-Through Certificates so affected representing not less than 50 percent of the then outstanding principal amount or notional principal amount of each affected Class of Pass-Through Certificates; provided further, however, that nothing in the immediately preceding proviso shall require, or be construed to require, the consent of Holders of Pass-Through Certificates to any amendment to any UMBS and MBS Agreement, Mirror Certificates Agreement or other agreement made in connection with the modification of Freddie Mac’s procedures for calculating payments or passing through full or partial prepayments, as
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Related to Agreement Defaults

  • Payment Defaults Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law.

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.

  • Covenant Defaults If Borrower defaults in the performance or observance of any covenant or agreement in this Agreement, and such default continues for a period of twenty (20) calendar days after the earlier of Borrower's knowledge thereof or receipt of written notice from Lender thereof, except for violations of SECTION 7.08(d), which shall become an Event of Default at the end of the sixty (60) day period stated therein and except for specific Defaults listed elsewhere in this SECTION 9.01, as to which no notice or cure period shall apply unless specified; or

  • Certain Covenant Defaults Borrower fails to perform any obligation under Section 6.5 or 6.6, or violates any of the covenants contained in Section 7.