Common use of Failure to Pay Purchase Price Differential Clause in Contracts

Failure to Pay Purchase Price Differential. Purchaser shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price Differential; provided, however, no more than two (2) times during any twelve (12) month period Seller may cure such failure within one (1) Business Day if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller to enable it to make such payment when due.

Appears in 6 contracts

Sources: Master Repurchase Agreement (Franklin BSP Real Estate Debt, Inc.), Master Repurchase Agreement (Franklin BSP Real Estate Debt BDC), Master Repurchase Agreement (Franklin BSP Real Estate Debt BDC)

Failure to Pay Purchase Price Differential. Purchaser shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price Differential; provided, however, no more than two (2) times during any twelve (12) month period Seller may cure such failure within one two (12) Business Day Days if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller to enable it to make such payment when due.

Appears in 5 contracts

Sources: Master Repurchase Agreement (Cim Real Estate Finance Trust, Inc.), Master Repurchase Agreement (Cim Real Estate Finance Trust, Inc.), Master Repurchase Agreement (Cim Real Estate Finance Trust, Inc.)

Failure to Pay Purchase Price Differential. Purchaser shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price Differential; providedprovided that if the failure to pay is due to an Account Bank or Servicer administrative error that is curable, however, no more than two Seller shall have three (23) times during any twelve (12) month period Seller may Business Days to cure or caused to be cured such failure within one (1) Business Day if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller to enable it to make such payment when duepay.

Appears in 2 contracts

Sources: Master Repurchase Agreement (Fortress Credit Realty Income Trust), Master Repurchase Agreement (Fortress Credit Realty Income Trust)

Failure to Pay Purchase Price Differential. Purchaser shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price Differential; provided, however, no more than two one (21) times time during any twelve three (123) month period Seller may cure such failure within one (1) Business Day of the applicable date when such payment was due if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller to enable it to make such payment when due.

Appears in 2 contracts

Sources: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.)

Failure to Pay Purchase Price Differential. Purchaser Purchasers shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price Differential; provided, however, no more than two (2) times during any twelve (12) month period Seller Sellers may 77 cure such failure within one (1) Business Day if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller Sellers to enable it to make such payment when due.

Appears in 1 contract

Sources: Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)

Failure to Pay Purchase Price Differential. Purchaser Purchasers shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price DifferentialDifferential for the related Pricing Rate Period ending immediately prior to that Remittance Date; provided, however, no more than two (2) times during any twelve (12) month period Seller Sellers may cure such failure within one (1) Business Day if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller Sellers to enable it to make such payment when due.

Appears in 1 contract

Sources: Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)

Failure to Pay Purchase Price Differential. Purchaser shall fail to receive on any Remittance Date the accrued and unpaid Purchase Price Differential; provided, however, no more than two (2) times during any twelve (12) month period Seller Sellers may cure such failure within one (1) Business Day if such failure arose solely by reason of an error or omission of an administrative or operational nature and funds were available to Seller Sellers to enable it to make such payment when due.

Appears in 1 contract

Sources: Master Repurchase Agreement (Blackstone Private Real Estate Credit & Income Fund)