Creation and Perfection. This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Pool Receivables in favor of the Administrator (for the benefit of the Purchaser Agents and the Purchasers), which security interest is perfected and prior to all other Adverse Claims, and is enforceable as such as against creditors of and purchasers from the Seller.
Creation and Perfection. 16.1.1 The Security as contemplated in Clause 14.6 (Security),shall be created and perfected for the benefit of the Debenture Holders, in form and manner acceptable to the Debenture Trustee in the timelines as provided under Applicable Law and in any event prior to the Deemed Date of Allotment.
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan identified as Collateral and that is delivered to Secured Party, (b) each promissory note that evidences a Mortgage Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) each Mortgage Security in certificated form that is delivered to Secured Party, (d) each Mortgage Security in book-entry form when notice of the Security Interest is given to the financial institution in whose favor that security has been issued and that institution confirms that notice, (e) all Mortgage Collateral shipped to any Approved Investor under 3 EXHIBIT C-1 -----------
Creation and Perfection. The Security shall be created and perfected, in form and manner acceptable to the Security Trustee, no later than 60 (sixty) days from the Deemed Date of Allotment. It is clarified that all necessary Approvals for creation and perfection of Security, if applicable, will also be obtained within 60 (sixty) days from the Deemed Date of Allotment [•]. If the Security is not created and perfected within 60 (sixty) days from the Deemed Date of Allotment in accordance with Clause 6.2(a) above, the Issuer shall, at the option of the Debenture Holders, either refund the Debenture subscription amount at an agreed rate of Interest or pay Default Interest of [•] per annum, over the Interest Rate from the expiry of [•] days from the Deemed Date of Allotment till the Security is created and perfected to the satisfaction of the Debenture Trustee.
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan or Commercial Loan identified as Collateral and that is delivered to Secured Party, (b) each promissory note that evidences a Mortgage Loan or Commercial Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) each Lease delivered to Secured Party, (d) all Collateral shipped to any Approved Investor under Section 4.5 of the Credit Agreement (and the Security Interest continues to be perfected until Secured Party receives payment under that section), (e) all Collateral shipped to Debtor for correction under Section 4.6 of the Credit Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), (f) the Note Payment Account immediately upon establishment of that account with Secured Party, and (g) all other Collateral upon the filing of the financing statements provided for in the Credit Documents.
Creation and Perfection. (a) The Security shall be created and perfected, in form and manner acceptable to the Security Trustee, no later than 60 (sixty) days from the Deemed Date of Allotment. It is clarified that all necessary Approvals for creation and perfection of Security, if applicable, will also be obtained within 60 (sixty) days from the Deemed Date of Allotment [•].
(b) If the Security is not created and perfected within 60 (sixty) days from the Deemed Date of Allotment in accordance with Clause 6.2(a) above, the Issuer shall, at the option of the Debenture Holders, either refund the Debenture subscription amount at an agreed rate of Interest or pay Default Interest of [•] per annum, over the Interest Rate from the expiry of [•] days from the Deemed Date of Allotment till the Security is created and perfected to the satisfaction of the Debenture Trustee.
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences an Equity Loan or Improvement Loan identified as Collateral and that is delivered to Secured Party, (b) each promissory note that evidences an Equity Loan or Improvement Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) all Collateral shipped to an investor under SECTION 4.5 of the Credit Agreement (and the Security Interest continues to be perfected until Secured Party receives payment for such Collateral), (d) all Collateral shipped to Debtor for correction under SECTION 4.6 of the Credit Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), and (e) all other Collateral upon the filing of the financing statements contemplated by the Credit Agreement.
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan or Land Contract ever identified as Collateral and delivered to Secured Party, (b) each Mortgage Security in certificated form that is delivered to Secured Party, (c) each Mortgage Security in book entry form when notice of the Security Interest is given to the financial institution in whose favor that security has been issued and that institution confirms that notice, (d) all Collateral shipped to any investor under SECTION 3.1 of the Custody Agreement (and the Security Interest shall continue to be perfected until Secured Party receives either payment or Mortgage Securities under that section), (e) all Collateral shipped to a Debtor for correction or servicing under SECTION 3.2 of the Custody Agreement (and the Security Interest shall continue to be perfected for twenty-one (21) days after that shipment), and (f) all other Collateral upon possession or the filing of financing statements by Secured Party.
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan identified its Collateral and that is delivered to Secured Party, (b) each promissory note that evidences a Mortgage Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) each Mortgage Security in certificated form that is delivered to Secured Party, (d) each Mortgage Security in book-entry form when notice of the Security Interest is given to the financial institution in whose favor that security has been issued and that institution confirms that notice, (e) all Mortgage Collateral shipped to any Approved Investor under SECTION 4.5 of the Credit Agreement (and the Security Interest continues to be perfected until Secured Party receives either payment or Mortgage Securities under that section), (f) all Mortgage Collateral shipped to Debtor for correction under SECTION 4.6 of the Credit Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), and (g) all other COLLATERAL UPON THE FILING of the Financing Statements.
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a HELOC ever delivered to Secured Party, (b) each promissory note that evidences a HELOC identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) all Collateral, if any, shipped to any investor (and the Security Interest continues to be perfected until Secured Party receives payment), (d) all Collateral shipped to Debtor for correction under SECTION 4 of the Custodial Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), and (e) all other Collateral upon possession or the filing of financing statements by Secured Party.
