Purchase Commitment definition

Purchase Commitment has the meaning set forth in Section 1.02(a).
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Purchase Commitment means a written commitment, in form and substance satisfactory to Lender, issued in favor of Borrower by an Investor under which that Investor commits to purchase Mortgage Loans or Mortgage-backed Securities.
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Purchase Commitment. A trade ticket or other written commitment, in form and substance satisfactory to Buyer, issued in favor of Seller by an Approved Investor pursuant to which that Approved Investor commits to purchase one or more Purchased Mortgage Loans, along with the related correspondent or whole loan purchase agreement by and between Seller and the Approved Investor, in form and substance satisfactory to Buyer, governing the terms and conditions of any such purchases.
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Examples of Purchase Commitment in a sentence

  • All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.

  • Borrower agrees that any sale of Collateral under the terms of a Purchase Commitment, or any other disposition of Collateral arranged by Borrower, whether before or after the occurrence of an Event of Default, will be deemed to have been made in a commercially reasonable manner.

  • If the Approved Investor does not purchase a Purchased Mortgage Loan as contemplated by the related Purchase Commitment, Seller shall, upon the request of Buyer, assist Buyer in the recovery of any Mortgage Loan Documents not returned by the Approved Investor to Buyer.

  • Each Eligible Loan offered to Purchaser by Seller, in Seller’s sole discretion, up to the Purchase Requirement will be deemed to be subject to a Purchase Commitment upon offer.

  • All items delivered to Lender must be satisfactory to Lender in form and content, and Lender may reject any item that does not satisfy the requirements of this Agreement or of the related Purchase Commitment.


More Definitions of Purchase Commitment

Purchase Commitment means a Service Commitment or a Volume Commitment. A Service may be subject to both a Service Commitment and a Volume Commitment if specified in the USSA or Order.
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Purchase Commitment shall have the meaning set forth in Section 7.2 hereof.
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Purchase Commitment means a commitment from a secondary market lender, pursuant to an agreement with M/I Financial Corp., either with respect to a particular mortgage loan or with respect to mortgage loans meeting specified criteria, to purchase such mortgage loan or loans without recourse (except for Mortgage Loan Repurchase Obligations) for an amount not less than the difference of (a) the face amount of the note evidencing such mortgage loan(s), minus (b) the sum of (i) the points agreed upon between M/I Financial Corp. and such secondary market lender, and (ii) the amount of funds (for example, without limitation, escrow funds and origination fees), other than points, received by M/I Financial Corp. at the loan closing from the mortgagor.
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Purchase Commitment means a commitment by an investor to purchase CLO Securities that complies with the purchaser eligibility requirements and criteria specified in the terms of the CLO Securities and that is acceptable to DBSI in its sole discretion and “Purchase Commitments” means each Purchase Commitment together with each other Purchase Commitment.
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Purchase Commitment shall have the meaning set forth in Section 4.2(b).
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Purchase Commitment means a written commitment held by a Company from an Approved Investor to buy Collateral and that specifies (a) the type or item(s) of Collateral, (b) a purchase date or purchase deadline date and (c) a purchase price or the criteria by which the purchase price will be determined (provided that a Purchase Commitment covering Interest Only Loans is not required to state a purchase price or such price criteria.)
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Purchase Commitment means a current binding and enforceable written commitment (or contract for purchase) from an Investor to purchase from the Borrower Mortgage Loans or Mortgage-backed Securities of a particular type and yield owned by the Borrower at a committed price, which commitment shall at all times be subject to approval by the Agent as to terms and conditions.
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