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Common use of Elections and Variables Clause in Contracts

Elections and Variables. (a) Security Interest for “Obligations”. The term “Obligations” as used in this Annex includes no additional obligations of Secured Party and, for purposes of the definition of Obligations in Paragraph 12, includes no additional obligations of Pledgor.

Appears in 2 contracts

Samples: Credit Support Annex (Carrington Mortgage Loan Trust, Series 2006-Nc5), Credit Support Annex (Hyundai Abs Funding Corp)

Elections and Variables. (a) Security Interest for “Obligations”. The term “Obligations” as used in this Annex includes no additional obligations of Secured Party and, for purposes of the definition of Obligations in Paragraph 12, includes no additional obligations of Pledgor.

Appears in 2 contracts

Samples: Isda Master Agreement (Popular ABS Mortgage Pass-Through Trust 2006-D), Isda Master Agreement (Popular ABS Mortgage Pass-Through Trust 2006-D)