Common use of Issuer May Not Own Notes Clause in Contracts

Issuer May Not Own Notes. The Issuer may not become the owner or pledgee of one or more of the Notes (other than any Retained Note). Any Person Controlling, Controlled by or under common Control with the Issuer may, in its individual or any other capacity, become the owner or pledgee of one or more Notes with the same rights as it would have if it were not an Affiliate of the Issuer, except as 133 otherwise specifically provided in the definition of the term “Noteholder.” The Notes so owned by or pledged to such Controlling, Controlled or commonly Controlled Person shall have an equal and proportionate benefit under the provisions of this Base Indenture, without preference, priority or distinction as among any of the Notes, except as set forth herein with respect to, among other things, rights to vote, consent or give directions to the Indenture Trustee as a Noteholder.

Appears in 1 contract

Samples: Agreement (PennyMac Financial Services, Inc.)

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Issuer May Not Own Notes. The Issuer may not become the owner or pledgee of one or more of the Notes (other than any Retained Note). Any Person Controlling, Controlled by or under common Control with the Issuer may, in its individual or any other capacity, become the owner or pledgee of one or more Notes with the same rights as it would have if it were not an Affiliate of the Issuer, except as 133 otherwise specifically provided in the definition of the term “Noteholder.” The Notes so owned by or pledged to such Controlling, Controlled or commonly Controlled Person shall have an equal and proportionate benefit under the provisions of this Base Indenture, without preference, priority or distinction as among any of the Notes, except as set forth herein with respect to, among other things, rights to vote, consent or give directions to the Indenture Trustee as a Noteholder.

Appears in 1 contract

Samples: GMSR Participation Agreement (loanDepot, Inc.)

Issuer May Not Own Notes. 132 The Issuer may not become the owner or pledgee of one or more of the Notes (other than any Retained Note)Notes. Any Person Controlling, Controlled by or under common Control with the Issuer may, in its individual or any other capacity, become the owner or pledgee of one or more Notes with the same rights as it would have if it were not an Affiliate of the Issuer, except as 133 otherwise specifically provided in the definition of the term “Noteholder.” The Notes so owned by or pledged to such Controlling, Controlled or commonly Controlled Person shall have an equal and proportionate benefit under the provisions of this Base Indenture, without preference, priority or distinction as among any of the Notes, except as set forth herein with respect to, among other things, rights to vote, consent or give directions to the Indenture Trustee as a Noteholder.

Appears in 1 contract

Samples: Home Loan Servicing Solutions, Ltd.

Issuer May Not Own Notes. The Issuer may not become the owner or pledgee of one or more of the Notes (other than any Retained Note)Notes. Any Person Controllingcontrolling, Controlled controlled by or under common Control control with the Issuer may, in its individual or any other capacity, become the owner or pledgee of one or more Notes with the same rights as it would have if it were not an Affiliate affiliate of the Issuer, except as 133 otherwise specifically provided in the definition of the term "Noteholder." The Notes so owned by or pledged to such Controlling, Controlled controlling or commonly Controlled controlled Person shall have an equal and proportionate benefit under the provisions of this Base Indenture, without preference, priority or distinction as among any of the Notes, except as set forth herein with respect to, among other things, rights to vote, consent or give directions to the Indenture Trustee as a Noteholder.

Appears in 1 contract

Samples: Oakwood Homes Corp

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Issuer May Not Own Notes. The Issuer may not become the owner or pledgee of one or more of the Notes (other than any Retained Note)Notes. Any Person Controlling, Controlled by or under common Control with the Issuer may, in its individual or any other capacity, become the owner or pledgee of one or more Notes with the same rights as it would have if it were not an Affiliate of the Issuer, except as 133 otherwise specifically provided in the definition of the term “Noteholder.” The Notes so owned by or pledged to such Controlling, Controlled or commonly Controlled Person shall have an equal and proportionate benefit under the provisions of this Base Indenture, without preference, priority or distinction as among any of the Notes, except as set forth herein with respect to, among other things, rights to vote, consent or give directions to the Indenture Trustee as a Noteholder.. 128

Appears in 1 contract

Samples: Subservicing Agreement (New Residential Investment Corp.)

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