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Repurchase Agreement

This is an actual contract by Arcadia Financial.

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Sectors: Banking
Governing Law: New York, View New York State Laws
Effective Date: August 04, 1997
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THIS FIRST AMENDMENT TO THE REPURCHASE AGREEMENT, dated as of August 4, 1997 (this "Amendment"), is by and between ARCADIA RECEIVABLES CONDUIT CORP., a Delaware corporation (the "Buyer") and ARCADIA RECEIVABLES FINANCE CORP. (formerly known as Olympic Receivables Finance Corp.) a Delaware corporation (the "Seller").

WHEREAS, the parties hereto wish to amend the Repurchase Agreement, dated as of December 3, 1996 (the "Repurchase Agreement"), by and between the Buyer and the Seller, as provided herein;

NOW, THEREFORE, in consideration of the premises and the agreements contained herein and in accordance with Section 15 of the Repurchase Agreement, the parties hereto agree as follows:

SECTION 1. AMENDMENT OF SECTION 2. Section 2 of the Repurchase Agreement shall be amended by deleting the current definition of "Commitment Amount" and substituting in its place the following:

"COMMITMENT AMOUNT" means $375,000,000.

SECTION 2. REPRESENTATIONS AND WARRANTIES OF THE SELLER. The Seller represents and warrants that as of the effective date of this Amendment no Event of Default has occurred under the Repurchase Agreement and no Servicer Termination Event has occurred under the Servicing Agreement and to the best of the Seller's knowledge there is no set of circumstances existing that with the passage of time, would constitute such an Event of Default or Servicer Termination Event.

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