Acquisition of Rental Property. With respect to each such Rental Property, (i) such Rental Property was (x) acquired by Borrower under a Purchase Agreement or (y) has been approved as an Eligible Rental Property by Lender in its sole and absolute discretion, and (ii) with respect to each such Rental Property, prior to the related Advance Date, Custodian shall have received the complete, related Property File in accordance with the Custodial Agreement and such Property File shall not have been released from the possession of the Custodian for longer than the time periods permitted under the Custodial Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Altisource Residential Corp), Loan and Security Agreement (Altisource Residential Corp)
Acquisition of Rental Property. With respect to each such Rental Property, (i) such Rental Property was (x) acquired by Borrower the REO Subsidiary under a Purchase Property Contribution Agreement or (y) has been approved as an Eligible a Rental Property by Lender Administrative Agent in its sole and absolute discretion, and (ii) with respect to each such Rental Property, prior to the related Advance Purchase Date, Custodian shall have received the complete, related Property Asset File in accordance with the Custodial Agreement and such Property Asset File shall not have been released from the possession of the Custodian for longer than the time periods permitted under the Custodial Agreement.
Appears in 2 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Acquisition of Rental Property. With respect to each such Rental Property, (i) such Rental Property was (x) acquired by Borrower the REO Subsidiary under a Purchase Property Contribution Agreement or (y) has been approved as an Eligible a Rental Property by Lender Buyer in its sole and absolute discretion, and (ii) with respect to each such Rental Property, prior to the related Advance Purchase Date, Custodian shall have received the complete, related Property Asset File in accordance with the Custodial Agreement and such Property Asset File shall not have been released from the possession of the Custodian for longer than the time periods permitted under the Custodial Agreement.
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
