Netting Contract. It is understood that this Agreement constitutes a “netting contract” as defined in and subject to Title IV of FDICIA and each payment entitlement and payment obligation hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively, as defined in and subject to FDICIA (except insofar as the Borrower is not a “financial institution” as that term is defined in FDICIA).
Appears in 4 contracts
Samples: Master Margin Loan Agreement (Western Asset Diversified Income Fund (WDI)), Master Margin Loan Agreement (Western Asset Middle Market Income Fund Inc.), Master Margin Loan Agreement (Highland Funds Ii)
Netting Contract. (a) It is understood that this Agreement constitutes a “netting contract” as defined in and subject to Title IV of FDICIA the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment entitlement and payment obligation under any Transaction hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively, as defined in and subject to FDICIA (except insofar as one or both of the Borrower parties is not a “financial institution” as that term is defined in FDICIA).
Appears in 2 contracts
Samples: Master Repurchase Agreement (Home Point Capital Inc.), Master Repurchase Agreement (Home Point Capital Inc.)
Netting Contract. It is understood that this This Agreement constitutes a “netting contract” as defined in and subject to Title IV of FDICIA the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment entitlement and payment obligation under any Transaction hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, ,” respectively, as defined in and subject to the FDICIA (except insofar as one or more of the Borrower parties hereto is not a “financial institution” as that term is defined in the FDICIA)..
Appears in 1 contract
Samples: Master Repurchase Agreement (EXP World Holdings, Inc.)
