Mortgage Assets. Seller shall not own, as of any applicable date, Mortgage Assets in excess of (i) on December 31, 2012, $650 billion, or (ii) on December 31 of each year thereafter, 85.0% of the aggregate amount of Mortgage Assets that Seller was permitted to own as of December 31 of the immediately preceding calendar year; provided, that in no event shall Seller be required under this Section 5.7 to own less than $250 billion in Mortgage Assets.
Mortgage Assets. The Borrowers shall promptly deliver or cause to be delivered to the Administrative Agent (i) any report or material notice received by the Borrowers from any Obligor or obligor under the Collateral promptly following receipt thereof and (ii) any other such document or information relating to the Collateral as the Administrative Agent may reasonably request in writing from time to time.
Mortgage Assets. The Borrowers shall (i) acquire the Mortgage Assets pursuant to and in accordance with the terms of the Purchase Agreements (if applicable), (ii) take all action necessary to perfect, protect and more fully evidence the Borrowers' ownership of such Mortgage Assets under the Purchase Agreements (if any) free and clear of any Lien other than Permitted Liens, including, without limitation, (A) filing and maintaining effective financing statements against the Transferors in all necessary or appropriate filing offices, and filing continuation statements, amendments or assignments with respect thereto in such filing offices, and (B) executing or causing to be executed such other instruments or notices as may be necessary or appropriate, and (iii) take all additional action that the Administrative Agent may reasonably request to perfect, protect and more fully evidence the respective interests of the parties to this Agreement in the Collateral.
Mortgage Assets. The Sellers have executed and delivered to the Administrative Agent:
(a) a Collection Account Control Agreement in favor of the Administrative Agent for the benefit of the Purchasers substantially in the form of Exhibit D-3 hereto;
(b) a Reserve Account Control Agreement in favor of the Administrative Agent for the benefit of the Purchasers substantially in the form of Exhibit K to the Repurchase Agreement;
(c) a Disbursement Account Control Agreement in favor of the Administrative Agent for the benefit of the Purchasers substantially in the form of Exhibit D-13 hereto; and
(d) the Assignments provided for in Section 3.2 hereof in the form of Exhibit D-4 hereto.
Mortgage Assets. A database of delinquent Mortgage Assets is updated daily. The database is viewed and analyzed through a collection screen inquiry system. Each delinquent Mortgage Asset is assigned to one of the two following categories:
Mortgage Assets. Seller shall not own, as of any applicable date, Mortgage Assets in excess of (i) on
Mortgage Assets. Seller shall not own, as of any applicable date, Mortgage Assets, in excess of (i) on December 31, 2020, $250 billion (ii) on December 31, 2021, $250 billion, or (iii) on December 31, 2022, and thereafter, $225 billion. For purposes of this section 5.7, interest-only securities shall be measured at 10 percent of their notional value, and other Mortgage Asset balances or amounts shall be measured at unpaid principal balance. The definition of Mortgage Assets in Section 1 of the Agreement is hereby amended by deleting the following: “Mortgage Asset balances or amounts shall be measured at unpaid principal balance for purposes of Section 5.7 only.”
VIII. Amendment to Section 5 (Adding New Sections 5.12, 5.13, 5.14, and 5.15)
Mortgage Assets. The Mortgage Loans to be included in the Trust are as described in a schedule to the Trust, Pooling and Servicing Agreement.
Mortgage Assets. Mortgage shall sell, assign, transfer and deliver to CHM, and CHM shall purchase and acquire from Mortgage, the following assets, free and clear of all Liens: (i) all rights and benefits of Mortgage under loan applications originated by its operations in the Jacksonville, Florida, metropolitan area ("Mortgage-Jacksonville"), including the loan applications listed on Schedule 1.01(b)(i) (the "Loan Applications"); (ii) all deposits, fee payments and prepayments held by Mortgage-Jacksonville; (iii) all rights and benefits of Mortgage under mandatory delivery commitments and forward commitments relating to the Loan Applications, including those listed on schedule 1.01(b)(iii) hereto (the "Takeout/Placement Commitments"); (iv) all rights and benefits of Mortgage under the agreements listed on Schedule 1.01(b)(iv) (the "Ancillary Agreements"); (v) all rights and benefits of Mortgage under the lease listed on Schedule 1.01(b)(v) (the "Mortgage Lease"); (vi) all equipment, furniture, furnishings, machinery, software, supplies, vehicles and other property normally held or used by Mortgage-Jacksonville; and (vii) all of the customer information and files, books, papers, computer files, and records of whatever nature that relate to the provisions of mortgage origination services by Mortgage-Jacksonville (collectively, exclusive of the Excluded Assets, the "Acquired Mortgage Assets").
