Common use of Delivery of Loans Clause in Contracts

Delivery of Loans. (a) Upon the acquisition of any Collateral by the Borrower, the ownership of each transferred Underlying Instrument and the contents of each Loan File will be vested in the Borrower. Each Loan and Related Security transferred to the Borrower shall immediately and without further action automatically become part of the Collateral.

Appears in 6 contracts

Samples: Loan and Servicing Agreement (NewStar Financial, Inc.), Loan and Servicing Agreement (NewStar Financial, Inc.), Loan and Servicing Agreement (NewStar Financial, Inc.)

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Delivery of Loans. (a) Upon the acquisition of any Collateral by the BorrowerSeller, the ownership of each transferred Underlying Instrument and the contents of each Loan File will be vested in the BorrowerSeller. Each Loan and Related Security transferred to the Borrower Seller shall immediately and without further action automatically become part of the Collateral.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (NewStar Financial, Inc.)

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