Common use of Protection of Indenture Trustee’s Security Interest in Trust Estate Clause in Contracts

Protection of Indenture Trustee’s Security Interest in Trust Estate. (a) Nationstar shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit the reader thereof to know at any time following reasonable prior notice delivered to it, the status of such Receivable, including payments and recoveries made and payments owing. The Schedule of Receivables has been delivered to the Indenture Trustee and shall remain in its possession or control. (b) Nationstar will maintain its computer records so that, from and after the Grant of the security interest under the Indenture, Nationstar's master computer records (including any back-up archives) that refer to any Receivables indicate that the Receivables are owned by the Issuer and pledged to the Indenture Trustee on behalf of the Noteholders. Indication of the Indenture Trustee's interest in a Receivable shall be deleted from or modified on Nationstar's records when, and only when, the Receivable has been paid in full or released from the lien of the Indenture pursuant to the Indenture.

Protection of Indenture Trustee’s Security Interest in Trust Estate. (a) Nationstar shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit the reader thereof to know at any time following reasonable prior notice delivered to it, the status of such Receivable, including payments and recoveries made and payments owing. The Schedule of Receivables has been delivered to the Indenture Trustee and shall remain in its possession or control. (b) Nationstar will maintain its computer records so that, from and after the Grant of the security interest under the Indenture, Nationstar's ’s master computer records (including any back-up archives) that refer to any Receivables indicate that the Receivables are owned by the Issuer and pledged to the Indenture Trustee on behalf of the Noteholders. Indication of the Indenture Trustee's ’s interest in a Receivable shall be deleted from or modified on Nationstar's ’s records when, and only when, the Receivable has been paid in full or released from the lien of the Indenture pursuant to the Indenture.