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

Limited Pledge of Xxxxxx Xxx Servicing. The Buyer acknowledges and agrees 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 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 (as defined therein) among Xxxxxx Xxx, PennyMac Loan Services, LLC (the “Servicer”), Private National Mortgage Acceptance Company, LLC, PFSI ISSUER TRUST – FMSR and Citibank, N.A., solely as Indenture Trustee under the Base Indenture, dated effective April 28, 2021, and not in its individual capacity, (ii) the terms of a Subordination of Interest Agreement, with respect to the Security Interest (as defined therein), among Xxxxxx Mae and the Servicer and (iii) the Mortgage Selling and Servicing Contract, the Xxxxxx Xxx Selling Guide, the Xxxxxx Mae Servicing Guide and all supplemental servicing instructions or directives provided by Xxxxxx Xxx, all applicable master agreements, recourse agreements, repurchase agreements, indemnification agreements, loss-sharing agreements, and any other agreements between Xxxxxx Mae and the Servicer, and all as amended, restated or supplemented from time to time (collectively, the “Xxxxxx Xxx Lender Contract”), which rights include the right of Xxxxxx Mae to terminate the Xxxxxx Xxx Lender Contract with or without cause and the right to sell, or have transferred, the Servicing Rights.”

Limited Pledge of Xxxxxx Xxx Servicing. The To the extent that the pledge of the Pledgor’s right, title and interest in the Sold MSR Excess Spread shall at any time be included within the MSRs, the Pledgor and Buyer each acknowledges and agrees 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): “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 (as defined therein) among Xxxxxx Xxx, PennyMac Loan Services, LLC Corp. (the “Servicer”), Private National Mortgage Acceptance CompanyPennyMac Holdings, LLC, PFSI ISSUER TRUST – FMSR PennyMac Mortgage Investment Trust and Citibank, N.A., solely as Indenture Trustee under the Base Indenture, dated effective April 28December 20, 20212017, and not in its individual capacity, (ii) the terms of a Subordination of Interest Agreement, with respect to the Security Interest (as defined therein), among Xxxxxx Mae and Mae, the Servicer and PennyMac Holdings, LLC, and (iii) the Mortgage Selling and Servicing Contract, the Xxxxxx Xxx Selling Guide, the Xxxxxx Mae Servicing Guide and all supplemental servicing instructions or directives provided by Xxxxxx Xxx, all applicable master agreements, recourse agreements, repurchase agreements, indemnification agreements, loss-sharing agreements, and any other agreements between Xxxxxx Mae and the Servicer, and all as amended, restated or supplemented from time to time (collectively, the “Xxxxxx Xxx Lender Contract”), which rights include the right of Xxxxxx Mae to terminate the Xxxxxx Xxx Lender Contract with or without cause and the right to sell, or have transferred, the Servicing Rights.”

Limited Pledge of Xxxxxx Xxx Servicing. The Buyer acknowledges and agrees 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 Acknowledgment Agreement): “The Security Interest described in this financing statement is subject and subordinate to all rights of Xxxxxx Mae under (i) the terms of an Acknowledgment Agreement, with respect to the Security Interest (as defined therein) among Xxxxxx Xxx, PennyMac Loan Services, LLC Corp. (the “Servicer”), Private National Mortgage Acceptance CompanyPennyMac Holdings, LLC, PFSI ISSUER TRUST – FMSR PennyMac Mortgage Investment Trust and Citibank, N.A., solely as Indenture Trustee under the Base Indenture, dated effective April 28December 20, 20212017, and not in its individual capacity, (ii) the terms of a Subordination of Interest Agreement, with respect to the Security Interest (as defined therein), among Xxxxxx Mae and Mae, the Servicer and PennyMac Holdings, LLC, and (iii) the Mortgage Selling and Servicing Contract, the Xxxxxx Xxx Selling Guide, the Xxxxxx Mae Servicing Guide and all supplemental servicing instructions or directives provided by Xxxxxx Xxx, all applicable master agreements, recourse agreements, repurchase agreements, indemnification agreements, loss-sharing agreements, and any other agreements between Xxxxxx Mae and the Servicer, and all as amended, restated or supplemented from time to time (collectively, the “Xxxxxx Xxx Lender Contract”), which rights include the right of Xxxxxx Mae to terminate the Xxxxxx Xxx Lender Contract with or without cause and the right to sell, or have transferred, the Servicing Rights.”

Limited Pledge of Xxxxxx Xxx Servicing. The Buyer Each of the Buyers acknowledges and agrees 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 Acknowledgment Agreement): “The Security Interest described in this financing statement is subordinate to all rights of Xxxxxx Mae Xxx under (i) the terms of an the Fifth Amended and Restated Acknowledgment Agreement, dated effective October 10, 2023, as amended, restated or supplemented from time to time, with respect to the Security Interest (as defined therein) among Xxxxxx Xxx, PennyMac Loan Services, LLC Corp. (the “Servicer”), Private National Mortgage Acceptance CompanyPennyMac Holdings, LLC, PFSI ISSUER TRUST – FMSR PennyMac Mortgage Investment Trust and Citibank, N.A., solely as Indenture Trustee under the Base Indenture, dated effective April 28, 2021, and not in its individual capacity, (ii) the terms of a the Fourth Amended and Restated Subordination of Interest Agreement, with respect to the Security Interest (as defined therein), among Xxxxxx Mae Xxx, PennyMac Corp., and the Servicer PennyMac Holdings, LLC, and (iii) the Mortgage Selling and Servicing Contract, the Xxxxxx Xxx Selling Guide, the Xxxxxx Mae Xxx Servicing Guide and all supplemental servicing instructions or directives provided by Xxxxxx Xxx, all applicable master agreements, recourse agreements, repurchase agreements, indemnification agreements, loss-sharing agreements, and any other agreements between Xxxxxx Mae Xxx and the Servicer, and all as amended, restated or supplemented from time to time (collectively, the “Xxxxxx Xxx Lender Contract”), which rights include the right of Xxxxxx Mae Xxx to terminate the Xxxxxx Xxx Lender Contract with or without cause and the right to sell, or have transferred, the Servicing Rights.”

Limited Pledge of Xxxxxx Xxx Servicing. The Buyer acknowledges and agrees 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 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 (as defined therein) among Xxxxxx Xxx, PennyMac Loan Services, LLC Corp. (the “Servicer”), Private National Mortgage Acceptance CompanyPennyMac Holdings, LLC, PFSI ISSUER TRUST – FMSR PennyMac Mortgage Investment Trust and Citibank, N.A., solely as Indenture Trustee under the Base Indenture, dated effective April 28December 20, 20212017, and not in its individual capacity, (ii) the terms of a Subordination of Interest Agreement, with respect to the Security Interest (as defined therein), among Xxxxxx Mae and Mae, the Servicer and PennyMac Holdings, LLC, and (iii) the Mortgage Selling and Servicing Contract, the Xxxxxx Xxx Selling Guide, the Xxxxxx Mae Servicing Guide and all supplemental servicing instructions or directives provided by Xxxxxx Xxx, all applicable master agreements, recourse agreements, repurchase agreements, indemnification agreements, loss-sharing agreements, and any other agreements between Xxxxxx Mae and the Servicer, and all as amended, restated or supplemented from time to time (collectively, the “Xxxxxx Xxx Lender Contract”), which rights include the right of Xxxxxx Mae to terminate the Xxxxxx Xxx Lender Contract with or without cause and the right to sell, or have transferred, the Servicing Rights.”