Limited Pledge of Xxxxxx Xxx Servicing Sample Clauses

Limited Pledge of Xxxxxx Xxx Servicing. Notwithstanding anything to the contrary contained herein or in any of the other Transaction Documents, the pledge of the Borrower’s right, title and interest in the Xxxxxx Mae MSRs under the Xxxxxx Xxx Lender Contract identified on each Schedule of Assets shall only secure the Borrower’s indebtedness and obligations to the Administrative Agent and each Lender incurred for (i) the purposes of securing (a) a warehouse line of credit and used for one of the purposes set forth in clauses (b) or (c), (b) a loan whose proceeds have been or will be used to acquire or retain through its origination activities rights in the Xxxxxx Mae Lender Contract in accordance with the provisions of the Xxxxxx Xxx Selling Guide and the Xxxxxx Mae Servicing Guide by the Borrower, (c) a loan whose proceeds have been or will be used to purchase from another mortgage banking company the contract right to service Mortgage Loans, or to purchase assets of, or stock issued by, such company, or (ii) any other purpose which Xxxxxx Xxx, in its sole and absolute discretion, considers to be consistent with the purposes of the Xxxxxx Mae Acknowledgment Agreement to be executed among the Borrower, the Administrative Agent and Xxxxxx Xxx; provided, that the foregoing provisions of this paragraph shall be deemed automatically supplemented or amended if and to the extent Xxxxxx Mae supplements or amends the corresponding requirement, whether in its rules, regulations, guides, Xxxxxx Xxx Lender Contract, Xxxxxx Mae Acknowledgment Agreement or published announcements or otherwise waives or grants exceptions from such requirement, and in each instance, with the same substantive force and effect; and provided further that the security interest created hereby is and shall be subject to the following condition and such provision below shall be included in each financing statement filed in respect hereof (defined terms used below shall have the meaning set forth in the Xxxxxx Xxx Acknowledgment Agreement): “The Security Interest described in this financing statement is subordinate to all rights of Xxxxxx Mae under (i) the terms of an Acknowledgment Agreement, with respect to the Security Interest among Xxxxxx Xxx, Home Point Financial Corporation (the “Debtor”) and Xxxxxxx Sachs Bank USA, as Administrative Agent for Lenders and (ii) the Mortgage Selling and Servicing Contract, the Xxxxxx Xxx Selling Guide, the Xxxxxx Mae Servicing Guide and all supplemental servicing instructions or directives provide...
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Limited Pledge of Xxxxxx Xxx Servicing. The Administrative Agent and each additional Lender acknowledge and agree that (x) the Borrower is entitled to servicing income with respect to a given mortgage pool only so long as Borrower is a Xxxxxx Mae approved issuer; (y) upon the Borrower’s loss of such approved issuer status, the Administrative Agent and each additional Lender’s rights to any servicing income related to a given mortgage pool also terminate; and (z) the pledge of the Borrower’s rights to servicing income conveys no rights (such as a right to become a substitute servicer or issuer) that are not otherwise specifically provided for in the Xxxxxx Xxx Contract, provided that this sentence shall automatically be deemed amended or modified if and to the extent Xxxxxx Mae amends the Xxxxxx Xxx Contract, the applicable Acknowledgment Agreement, if any, or published announcements and provided further that the security interest created hereby is subject to the following provision to be included in each financing statement filed in respect hereof: Notwithstanding anything to the contrary set forth herein:
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Limited Pledge of Xxxxxx Xxx Servicing. To the extent that the pledge of the Companies’ right, title and interest in mortgage servicing rights under Servicing Agreements with Xxxxxx Mae shall at any time be included within the security interest created hereby, the Agent acknowledges and agrees that (x) the Company is entitled to servicing income with respect to a given mortgage pool only so long as Company is an issuer in good standing pursuant to Xxxxxx Xxx rules, regulations, guides and similar announcements; (y) upon the Companies’ loss of such good-standing issuer status, the Agent’s rights to any servicing income related to a given mortgage pool also terminate; and (z) the pledge of Companies’ rights to servicing income conveys no rights (such as a right to become a substitute servicer or issuer) that are not otherwise specifically provided for in the rules, regulations, guides or similar announcements by Xxxxxx Mae, provided that this sentence shall automatically be deemed amended or modified if and to the extent Xxxxxx Xxx amended the corresponding requirement, whether in its rules, regulations, guides, Servicing Agreements, Acknowledgment Agreements or published announcements.
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Limited Pledge of Xxxxxx Xxx Servicing. Notwithstanding anything to the contrary in the Credit Agreement or any of the other Facilities Papers, the pledge of the Companies’ right, title and interest in mortgage servicing rights under servicing agreements with Xxxxxx Mae shall only secure the Companies’ debt to the Lenders incurred for the purposes of (a) purchasing Mortgage Loan servicing rights, (b) purchasing a mortgage banking company (including a management buyout of an existing mortgage banking company) or (c) securing a warehouse line; provided, that the foregoing proviso shall be deemed automatically supplemented or amended if and to the extent Xxxxxx Xxx supplements or amends the corresponding requirement, whether in its rules, regulations, guides, Servicing Agreements, Acknowledgment Agreements, or published announcements or otherwise waives or grants exceptions from such requirement, and in each instance, with the same substantive force and effect; provided further that the security interest created hereby is subject to the following provision to be included in each financing statement filed in respect hereof: The security interest created by this financing statement is subject and subordinate to all rights, powers and prerogatives of Xxxxxx Xxx under, and in connection with, the Mortgage Selling and Servicing Contract and all applicable Pool Purchase Contracts between Xxxxxx Mae and HomeBanc Mortgage Corporation and the Selling Guide, Servicing Guide, and other Guides, as each of such Guides is amended from time to time (collectively, the “Xxxxxx Xxx Contract“) which rights, powers, and prerogatives includes, without limitation, the right of Xxxxxx Xxx to terminate the Xxxxxx Mae Contract with or without cause and the right to sell, or have transferred, the Servicing Rights as therein provided.
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Limited Pledge of Xxxxxx Xxx Servicing. To the extent that the pledge of the Pledgor’s right, title and interest in the Purchased MSR Excess Spread shall at any time be included within the MSRs, the Pledgor and Buyer each acknowledges and agrees that prior to the occurrence of an Event of Default, (x) PLS is entitled to servicing income with respect to a given mortgage pool only so long as PLS is a Xxxxxx Mae approved issuer; (y) upon PLS’s loss of such approved issuer status, PLS’s rights to any servicing income related to a given mortgage pool also terminate; and (z) the pledge of the Pledgor’s rights to servicing income conveys no rights (such as a right to become a substitute servicer or issuer) that are not otherwise specifically provided for in the Xxxxxx Xxx Contract, provided, that this sentence shall automatically be deemed amended or modified if and to the extent Xxxxxx Mae amends the Xxxxxx Xxx Contract, the applicable Acknowledgment Agreement, if any, or published announcements and, provided, further, that the security interest created hereby is subject to the following provision to be included in each financing statement filed in respect hereof (defined terms used below shall have the meaning set forth in the applicable Acknowledgment Agreement):
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Limited Pledge of Xxxxxx Xxx Servicing. Notwithstanding anything to the contrary herein or any of the other Loan Documents, the pledge of the Borrowers’ right, title and interest in mortgage servicing rights under servicing contracts with Xxxxxx Mae shall only secure the Borrowers’ debt to the Lenders incurred for the purposes of (a) purchasing additional Mortgage Loan servicing rights, (b) purchasing a mortgage banking company (including a management buyout of an existing mortgage banking company) or (c) securing a warehouse line of credit; provided, that the foregoing provisions of this paragraph shall be deemed automatically supplemented or amended if and to the extent Xxxxxx Xxx supplements or amends the corresponding requirement, whether in its rules, regulations, guides, Servicing Contracts, Acknowledgment Agreements, or published announcements or otherwise waives or grants exceptions from such requirement, and in each instance, with the same substantive force and effect; provided further that the security interest created hereby is subject to the following provision to be included in each financing statement filed in respect hereof:
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Related to Limited Pledge of Xxxxxx Xxx Servicing

  • Pledge of Collateral by Owner Trustee is Binding The pledge of the Collateral to the Indenture Trustee by the Trust made under the Indenture and pursuant to the terms of this Agreement shall bind the Holder and shall be effective to transfer or convey the rights of the Trust and the Holder in and to such Collateral to the extent set forth in the Indenture. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such pledge or as to the application of any proceeds with respect thereto by the Owner Trustee.

  • Retention or Repurchase of Assets Essential to Receiver (a) The Receiver may refuse to sell to the Assuming Institution, or the Assuming Institution agrees, at the request of the Receiver set forth in a written notice to the Assuming Institution, to assign, transfer, convey, and deliver to the Receiver all of the Assuming Institution's right, title and interest in and to, any Asset or asset essential to the Receiver as determined by the Receiver in its discretion (together with all Credit Documents evidencing or pertaining thereto), which may include any Asset or asset that the Receiver determines to be:

  • Notification of Assignment of Receivables At any time following the occurrence of an Event of Default or a Default, Agent shall have the right to send notice of the assignment of, and Agent's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Agent's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

  • Amendments to Servicing Agreement The Issuer covenants with the Indenture Trustee that it will not enter into any amendment or supplement to the Servicing Agreement without the prior written consent of the Indenture Trustee.

  • Loan Servicing The servicing practices used with respect to each Mortgage Loan have been in all material respects legal, proper, and prudent.

  • Agreement as to Single Secured Party and Pledgor Party A and Party B agree that, notwithstanding anything to the contrary in the recital of this Annex, Paragraph 1(b) or Paragraph 2 of the definitions in Paragraph 12, (a) the term “Secured Party” as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgment in the final sentence of Paragraph 8(a) and the representations in Paragraph 9 and (d) only Party A will be required to post Eligible Credit Support hereunder. Party A also agrees that it shall pay all costs of transferring Eligible Credit Support required to be delivered by Party A hereunder.

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