Bona Fide Asset Sample Clauses

Bona Fide Asset. Each Servicer Advance being sold and/or pledged on a Purchase Date is an obligation arising out of the making of a Servicer Advance by the related Seller or a predecessor servicer, in its capacity as a servicer or subservicer of a portfolio of mortgage loans. The Seller has no knowledge of any fact that should have led it to expect at the time of the creation of each Servicer Advances that such Servicer Advances would not be paid in full when due. As of the Purchase Date, the Seller has not received any Collections or other payments in respect of the Servicer Advances, and each Servicer Advance is an Eligible Servicer Advance.
Sample 1
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Bona Fide Asset. Each Asset being pledged on an Advance Date is an obligation arising out of the making of a Servicer Advance by the related Borrower or a predecessor servicer, in its capacity as a servicer or subservicer of a portfolio of mortgage loans, pursuant to a Servicing Contract. The Borrower has no knowledge of any fact that should have led it to expect at the time of the creation of each Asset that such Asset would not be paid in full when due. As of the Advance Date, the Borrower has not received any Collections or other payments in respect of the Assets, and each Asset is an Eligible Asset.
Sample 1
Bona Fide Asset. Each Purchased Asset being sold and/or pledged on an Purchase Date is an obligation arising out of the making of a Servicer Advance by the related Seller or a predecessor servicer, in its capacity as a servicer or subservicer of a portfolio of mortgage loans, pursuant to a Servicing Contract. The Seller has no knowledge of any fact that should have led it to expect at the time of the creation of each Purchased Asset that such Purchased Asset would not be paid in full when due. As of the Purchase Date, the Seller has not received any Collections or other payments in respect of the Purchased Assets, and each Purchased Asset is an Eligible Asset.
Sample 1

Related to Bona Fide Asset

  • Company Vehicle Silverleaf shall furnish Employee a company owned vehicle for use by Employee in performing his or her duties, and Silverleaf shall pay all expenses associated therewith.

  • Qualified Transferee Any Transfer of a Partnership Interest shall be made only to a single Qualified Transferee; provided, however, that, for such purposes, all Qualified Transferees that are Affiliates, or that comprise investment accounts or funds managed by a single Qualified Transferee and its Affiliates, shall be considered together to be a single Qualified Transferee; and provided, further, that each Transfer meeting the minimum Transfer restriction of Section 11.3.A(4) hereof may be to a separate Qualified Transferee.

  • Qualified Purchaser Subscriber will generally qualify as a “qualified purchaser” if Subscriber falls within one or more of the following categories:

  • Purchase and Sale of the Mortgage Loans and Related Rights (a) Upon satisfaction of the conditions set forth in Section 10 hereof, the Mortgage Loan Seller agrees to sell, and the Purchaser agrees to purchase Mortgage Loans having an aggregate outstanding principal balance as of the Cut-off Date equal to the Cut-off Date Balance.

  • Single Asset Entity 15.1. Except as may be provided to the contrary in the Cross-Collateralization Agreements, the Company shall at all timed conduct its business and operations in accordance with the following provisions so as to maintain itself as a single purpose entity:

  • Mortgage Loan repurchased (The Master Servicer hereby certifies that the Purchase Price has been credited to the Collection Account or the Certificate Account (whichever is applicable) pursuant to the Trust Agreement.)

  • Purchaser Purchaser was formed solely for the purpose of engaging in the Transactions and activities incidental thereto and has not engaged in any business activities or conducted any operations other than in connection with the Transactions and those incident to its formation. Either Parent or a wholly owned subsidiary of Parent owns beneficially and of record all of the outstanding capital stock of Purchaser.

  • Mortgage Loan Transfer (a) The Purchaser will be entitled to all scheduled payments of principal and interest on the Mortgage Loans due after the Cut-off Date (regardless of when actually collected) and all payments thereon, other than scheduled principal and interest due on or before the Cut-off Date but received after the Cut-off Date. The Mortgage Loan Seller will be entitled to all scheduled payments of principal and interest on the Mortgage Loans due on or before the Cut-off Date (including payments collected after the Cut-off Date) and all payments thereon, other than scheduled principal and interest due after the Cut-off Date but received on or before the Cut-off Date. Such principal amounts and any interest thereon belonging to the Mortgage Loan Seller as described above will not be included in the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date as set forth on the Final Mortgage Loan Schedule.

  • Portfolio Transactions The Manager is authorized to select the brokers or dealers that will execute the purchases and sales of portfolio securities for the Portfolio and is directed to use its best efforts to obtain the best available prices and most favorable executions, except as prescribed herein. It is understood that the Manager will not be deemed to have acted unlawfully, or to have breached a fiduciary duty to the Fund or to the Portfolio, or be in breach of any obligation owing to the Fund or to the Portfolio under this Agreement, or otherwise, solely by reason of its having caused the Portfolio to pay a member of a securities exchange, a broker, or a dealer a commission for effecting a securities transaction for the Portfolio in excess of the amount of commission another member of an exchange, broker, or dealer would have charged if the Manager determines in good faith that the commission paid was reasonable in relation to the brokerage or research services provided by such member, broker, or dealer, viewed in terms of that particular transaction or the Manager’s overall responsibilities with respect to its accounts, including the Fund, as to which it exercises investment discretion. The Manager will promptly communicate to the officers and directors of the Fund such information relating to transactions for the Portfolio as they may reasonably request.

  • Membership Interest The Member shall own one hundred percent (100%) of the membership interests in the LLC, and all profits and losses shall be allocated to the Member.

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