Common use of Limited Pledge of Xxxxxx Xxx Servicing Clause in Contracts

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:

Limited Pledge of Xxxxxx Xxx Servicing. The Administrative Agent Buyer acknowledges and each additional Lender acknowledge and agree agrees that (x) the Borrower Seller is entitled to servicing income with respect to a given mortgage pool and reimbursement for advance amounts only so long as Borrower Seller is a Xxxxxx Mae approved issuer; (y) upon the BorrowerSeller’s loss of such approved issuer status, the Administrative Agent and each additional LenderBuyer’s rights to any servicing income and reimbursement for advance amounts related to a given mortgage pool also terminate; and (z) the pledge of the BorrowerSeller’s rights to servicing income and reimbursement for advance amounts 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: hereof (defined terms used below shall have the meaning set forth in the applicable Acknowledgment Agreement): Notwithstanding anything to the contrary set forth herein:

Limited Pledge of Xxxxxx Xxx Servicing. The Administrative Agent Buyer acknowledges and each additional Lender acknowledge and agree agrees that (x) the Borrower Seller is entitled to servicing income with respect to a given mortgage pool and reimbursement for advance amounts only so long as Borrower Seller is a Xxxxxx Mae approved issuer; (y) upon the BorrowerSeller’s loss of such approved issuer status, the Administrative Agent and each additional LenderBuyer’s rights to any servicing income and reimbursement for advance amounts related to a given mortgage pool also terminate; and (z) the pledge of the BorrowerSeller’s rights to servicing income and reimbursement for advance amounts 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 hereof (defined terms used below shall have the contrary meaning set forth herein:in the applicable Acknowledgment Agreement):

Limited Pledge of Xxxxxx Xxx Servicing. The Administrative Agent Buyer acknowledges and each additional Lender acknowledge and agree agrees that (x) the Borrower Seller is entitled to servicing income with respect to a given mortgage pool only so long as Borrower Seller is a Xxxxxx Mae approved issuer; (y) upon the BorrowerSeller’s loss of such approved issuer status, the Administrative Agent and each additional LenderBuyer’s rights to any servicing income related to a given mortgage pool also terminate; and (z) the pledge of the BorrowerSeller’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 hereof (defined terms used below shall have the contrary meaning set forth herein:in the applicable Acknowledgment Agreement):

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 the Servicing Income with respect to a given mortgage pool only so long as Borrower is a Xxxxxx Mae Xxx 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 Servicing Income related to a given mortgage pool also terminate; and (z) the pledge of the Borrower’s rights to servicing income 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 Xxx amends the Xxxxxx Xxx Contract, the applicable Acknowledgment Agreement, if any, or published announcements and provided further that 39 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:

Limited Pledge of Xxxxxx Xxx Servicing. The Administrative Agent Buyer acknowledges and each additional Lender acknowledge and agree agrees that (x) the Borrower Seller is entitled to servicing income with respect to a given mortgage pool and reimbursement for advance amounts only so long as Borrower Seller is a Xxxxxx Mae Xxx approved issuer; (y) upon the BorrowerSeller’s loss of such approved issuer status, the Administrative Agent and each additional LenderBuyer’s rights to any servicing income and reimbursement for advance amounts related to a given mortgage pool also terminate; and (z) the pledge of the BorrowerSeller’s rights to servicing income and reimbursement for advance amounts 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 Xxx 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: hereof (defined terms used below shall have the meaning set forth in the applicable Acknowledgment Agreement): Notwithstanding anything to the contrary set forth herein:

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 Xxx 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 Xxx 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: