Fxxxxx Mae Security Interest in Fxxxxx Mxx Collateral Sample Clauses

Fxxxxx Mae Security Interest in Fxxxxx Mxx Collateral. (i) Each Credit Party hereby grants to the Administrative Agent for the benefit of the Secured Parties, a security interest (the “Fxxxxx Mae Security Interest”) in the following (the “Fxxxxx Mxx Collateral”) to secure payment and performance of the Secured Obligations: all servicing Income (including, without limitation, Ancillary Income and Servicing Fees) actually received under the Fxxxxx Mae Servicing Contracts, respectively, by such Credit Party with respect to the Fxxxxx Mxx Loans (the “Fxxxxx Mae Designated Loans”) serviced at any time and from time to time under the respective Fxxxxx Mxx Servicing Contracts, together with any other Income received on account of payments made by a third party (other than Fxxxxx Mae) thereunder, but not the Fxxxxx Mxx Servicing Contracts or any other income (including, without limitation, principal and interest) related to the Fxxxxx Mae Designated Loans. The Administrative Agent’s security interest is subject and subordinate to all rights, remedies, powers and prerogatives of Fxxxxx Mxx under all applicable Fxxxxx Mae Agreements, including but not limited to Fxxxxx Mae’s right to terminate WDLLC’s and WD Capital’s selling and servicing rights with respect to the Fxxxxx Mxx Designated Loans as provided in the respective Fxxxxx Mae Agreements. Without limiting the generality of the foregoing provisions, the Administrative Agent acknowledges that (x) its security interest is subject to the rights of Fxxxxx Mxx, which must approve the Administrative Agent’s security interest (with such approval being given by Fxxxxx Mae in the Agency Consent provided by Fxxxxx Mxx to the Administrative Agent on or prior to the Closing Date) and (y) Fxxxxx Mae’s Agency Consent is not and shall not extend to, be deemed to be or be construed as, Fxxxxx Mae’s consent or approval of Administrative Agent’s exercise of any right, power, or remedy with respect to the Fxxxxx Mae Security Interest or the Fxxxxx Mxx Collateral from time to time (with such approval, to the extent required by the terms hereof, to be granted or withheld in Fxxxxx Mae’s sole and absolute discretion).
Sample 1
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Related to Fxxxxx Mae Security Interest in Fxxxxx Mxx Collateral

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Grant of General Security Interest in Collateral 3.1 As security for the Obligations of Debtor, Debtor hereby grants the Collateral Agent, for the benefit of the Lenders, a security interest in the Collateral.

  • Grant of Security Interest in Trademark Collateral Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor:

  • Security Interest in Financed Equipment Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.

  • Security Interest in the Collateral To secure the prompt payment and performance to Agent and each Lender of the Obligations, each Borrower hereby assigns, pledges and grants to Agent for its benefit and for the ratable benefit of each Lender a continuing security interest in and to and Lien on all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Borrower shall xxxx its books and records as may be necessary or appropriate to evidence, protect and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Each Borrower shall promptly provide Agent with written notice of all commercial tort claims, such notice to contain the case title together with the applicable court and a brief description of the claim(s). Upon delivery of each such notice, such Borrower shall be deemed to hereby grant to Agent a security interest and lien in and to such commercial tort claims and all proceeds thereof.

  • Grant of Security Interest in Patent Collateral Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor:

  • Security Interest in Financed Vehicle Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

  • Grant of Security Interest in Collateral As an inducement for the Secured Parties to extend the loans as evidenced by the Debentures and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, each Debtor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Secured Parties a security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security Interests”).

  • Grant of Security Interest in Copyright Collateral Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor:

  • Security Interest in Financed Vehicles Immediately prior to the transfer of the Receivables by the Depositor to the Trust, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Vehicle, or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in favor of the Seller in the Financed Vehicle, which security interest has been validly assigned by the Seller to the Depositor pursuant to the Receivables Purchase Agreement and by the Depositor to the Trust hereunder.

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