ACAS » Topics » Section 5.04 Disposition upon Termination of Loan

This excerpt taken from the ACAS 10-Q filed Aug 9, 2007.

Section 5.04 Disposition upon Termination of Loan

Except in respect of Third Party Agented Loan, upon the termination of a Loan included in the Loan Pool as a result of a default by the Obligor thereunder, and upon any such Loan becoming a Defaulted Loan, the Servicer will use commercially reasonable efforts to dispose of any related Collateral for a purchase price equal to the fair market value thereof as reasonably determined by the Servicer.

This excerpt taken from the ACAS 10-Q filed Nov 9, 2006.

Section 5.04 Disposition upon Termination of Loan

Upon the termination of a Loan included in the Loan Pool as a result of a default by the Obligor thereunder, and upon any such Loan becoming a Defaulted Loan, the Servicer will use commercially reasonable efforts to dispose of any related Collateral for a purchase price equal to the fair market value thereof as reasonably determined by the Servicer.

EXCERPTS ON THIS PAGE:

10-Q
Aug 9, 2007
10-Q
Nov 9, 2006

RELATED TOPICS for ACAS:

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