Eligible Mortgage Loans. Based upon the representation of the Seller in the Mortgage Loan Purchase and Servicing Agreement, each Mortgage Loan purchased by the Issuer is an Eligible Loan.
Eligible Mortgage Loans. As to each Mortgage Loan that is a Purchased Loan subject to any Transaction outstanding on a Purchase Date (and the related Mortgage, Mortgage Note, Assignment of Mortgage and Mortgaged Property), the Seller shall be deemed to make the following representations and warranties to the Buyer as of such date and at all times a Purchased Loan is subject to a Transaction. With respect to any representations and warranties made to the best of the Seller’s knowledge, in the event that it is discovered that the circumstances with respect to the related Mortgage Loan are not accurately reflected in such representation and warranty notwithstanding that such representation and warranty is made to the best of the Seller’s knowledge, such Mortgage Loan shall be assigned a Recognized Value of zero. Certain defined terms used herein and not otherwise defined in the Repurchase Agreement appear in Part II to this Schedule 1:
Eligible Mortgage Loans. As to each Mortgage Loan included in the Borrowing Base on a Funding Date (and the related Mortgage, Mortgage Note, Assignment of Mortgage, Collateral Assignment and Mortgaged Property), the Borrower shall be deemed to make the following representations and warranties to the Agent as of such date and as of each date Collateral Value is determined (certain defined terms used herein and not otherwise defined in the Loan Agreement appearing in Part II to this Annex Two):
Eligible Mortgage Loans. Each Mortgage Loan is an Eligible Mortgage Loan.
Eligible Mortgage Loans. Eligible Mortgage Loans are loans which satisfy all of the requirements contained in the Manual and the product profile for the particular Eligible Mortgage Loan shown on the Commitment.
Eligible Mortgage Loans. Each Mortgage Loan transferred hereunder and pursuant to the related Supplemental Conveyance is an Eligible Mortgage Loan as of the related Purchase Date.
Eligible Mortgage Loans. On any date of determination of the Borrowing Base or the Collateral Amount, any Mortgage Loan owned by a Borrower that satisfies the following criteria and is reflected in the most recent Borrowing Base and Collateral Amount Certificate delivered to Collateral Agent and Administrative Agent shall be an "Eligible Mortgage Loan" for the purposes of this Agreement. On any date of determination of the Borrowing Base or the Collateral Amount, an Eligible Mortgage Loan must satisfy the following criteria:
(i) it constitutes a Mortgage Loan on a one to four family residential property;
(ii) the representations and warranties set forth in this Agreement, including without limitation the representations and warranties set forth on Schedule 4.39, with respect to such Mortgage Loan are true and correct as of each date on which any Commitments are in effect or any Obligations are outstanding under this Agreement; and
(iii) such Mortgage Loan is, in the sole discretion of Collateral Agent, eligible for sale to a prudent third-party investor.
Eligible Mortgage Loans. Each Collateral Pledge Certificate shall ----------------------- include a schedule identifying the Mortgage Loans in which Agent is thereby granted a security interest for the benefit of Lenders as security for the Obligations. Each Collateral Pledge Certificate shall be accompanied by the following items (collectively, the "PRINCIPAL MORTGAGE DOCUMENTS") with respect to each Pledged Mortgage Loan (other than Pledged Mortgage Loans identified as New Wet Mortgage Loans) identified therein:
(A) the original Mortgage Note which evidences such Mortgage Loan, indorsed in blank;
(B) the original or a copy of the Mortgage which secures such Mortgage Loan (in either case bearing evidence of recordation or certification by Borrower that such Mortgage has been sent to the appropriate Governmental Authority for recordation);
(C) an original executed assignment in blank for such Mortgage Note and the Mortgage securing such Mortgage Note, in recordable form, and otherwise in form satisfactory to Agent; and
(D) if Borrower is not the named payee on the face of such Mortgage Note, copies (bearing evidence of recordation or certification by Borrower that such intervening assignment has been sent to the appropriate Governmental Authority for recordation) of all intervening assignments of such Mortgage Note and the related Mortgage. Borrower shall (x) hold in trust for Agent and Lenders, with respect to each Pledged Mortgage Loan identified on a Collateral Pledge Certificate (other than Pledged Mortgage Loans identified as New Wet Mortgage Loans), the original recorded Mortgage relating to such Mortgage Loan, a mortgagee policy of title insurance (or binding and unexpired commitment to issue such insurance if the policy has not yet been delivered to Borrower) insuring Borrower's perfected, first-priority Lien created by the Mortgage securing such Mortgage Loan (subject only to exceptions permitted by Part IV, Section 105.05 of the FNMA Guide [Selling] and Section 1704 of the FHLMC Guide), any Appraisals and any insurance policies which relate to such Mortgage Loan, and all other original documents, including any Take- Out Commitment, executed in connection with such Mortgage Loan and not delivered to Agent (all such undelivered documents are referred to collectively as the "OTHER MORTGAGE DOCUMENTS"), and (y) upon request of Agent or the Required Lenders, immediately deliver to Agent the Other Mortgage Documents together with an index specifically identifying each such ite...
Eligible Mortgage Loans. The following specified types of Single Family Mortgage Loans are Eligible Loans provided they conform in all respects with the terms of the Warehousing Agreement:
Eligible Mortgage Loans. For purposes of this Commitment Letter, ----------------------- "Eligible Mortgage Loans" shall be defined as: A. First-lien residential Mortgage Loans originated or acquired by Customer in its normal course of business within the preceding 30 days of the related Advance which are intended to be sold to DLJ and have the characteristics specified in Customer's underwriting guide, as such guide approved by DLJ ("Program Loans"); and B. First-lien residential Mortgage Loans originated or acquired by Customer in its normal course of business within the preceding 30 days of the related Advance that have been determined by DLJ in its sole discretion not to have the characteristics specified in Customer's underwriting guide and which do not meet the requirements of the Mortgage Loan Purchase Agreement ("Non-Program Loans").
