Release of Security Interest in Pledged Loans and Pledged Securities. 4.3 (a) Except as provided in Section 4.3(b), Lender will release its security interest in the Pledged Loans only against payment to Lender of the Release Amount in connection with those Pledged Loans. If Pledged Loans are transferred to a pool custodian or an Investor for inclusion in a Mortgage Pool and Lender’s security interest in the Pledged Loans included in the Mortgage Pool is not released before the issuance of the related Mortgage-backed Security, then that Mortgage-backed Security, when issued, is a Pledged Security, Lender’s security interest continues in the Pledged Loans backing that Pledged Security and Lender is entitled to possession of the Pledged Security in the manner provided in this Agreement.
Appears in 5 contracts
Samples: Credit and Security Agreement (Commercial Capital Bancorp Inc), Credit and Security Agreement (Commercial Capital Bancorp Inc), Warehousing Credit and Security Agreement (Mortgageit Holdings Inc)
Release of Security Interest in Pledged Loans and Pledged Securities. 4.3 (a) Except as provided in Section 4.3(b4.3 (b), Lender will release its security interest in the Pledged Loans only against payment to Lender of the Release Amount in connection with those Pledged Loans. If Pledged Loans are transferred to a pool custodian or an Investor for inclusion in a Mortgage Pool and Lender’s 's security interest in the Pledged Loans included in the Mortgage Pool is not released before the issuance of the related Mortgage-backed Security, then that Mortgage-backed Security, when issued, is a Pledged Security, Lender’s 's security interest continues in the Pledged Loans backing that Pledged Security and Lender is entitled to possession of the Pledged Security in the manner provided in this Agreement.
Appears in 4 contracts
Samples: Gmac Residential Funding (Oak Street Financial Services Inc), Warehousing Credit and Security Agreement (Matrix Bancorp Inc), Warehousing Credit and Security Agreement (Commercial Capital Bancorp Inc)
Release of Security Interest in Pledged Loans and Pledged Securities. 4.3 (a) Except as provided in Section 4.3(b), Lender Credit Agent will release its security interest in the Pledged Loans only against payment to Lender Credit Agent of the Release Amount in connection with those Pledged Loans. If Pledged Loans are transferred to a pool custodian or an Investor for inclusion in a Mortgage Pool and Lender’s Credit Agent's security interest in the Pledged Loans included in the Mortgage Pool is not released before the issuance of the related Mortgage-backed Security, then that Mortgage-backed Security, when issued, is a Pledged Security, Lender’s Credit Agent's security interest continues in the Pledged Loans backing that Pledged Security and Lender Credit Agent is entitled to possession of the Pledged Security in the manner provided in this Agreement.
Appears in 2 contracts
Samples: American Home Mortgage Investment Corp, American Home Mortgage Investment Corp
Release of Security Interest in Pledged Loans and Pledged Securities. 4.3 (a4.3(a) Except as provided in Section 4.3(b), Lender will release its security interest in the Pledged Loans only against payment to Lender of the Release Amount in connection with those Pledged Loans. If Pledged Loans are transferred to a pool custodian or an Investor for inclusion in a Mortgage Pool and Lender’s 's security interest in the Pledged Loans included in the Mortgage Pool is not released before the issuance of the related Mortgage-backed Security, then that Mortgage-backed Security, when issued, is a Pledged Security, Lender’s 's security interest continues in the Pledged Loans backing that Pledged Security and Lender is entitled to possession of the Pledged Security in the manner provided in this Agreement.
Appears in 2 contracts
Samples: Warehousing Credit and Security Agreement (MortgageIT Holdings, Inc.), Warehousing Credit and Security Agreement (First NLC Financial Services Inc)
Release of Security Interest in Pledged Loans and Pledged Securities. 4.3 (a) Except as provided in Section 4.3(b4.3 (b), Lender Pledged Loans will release its be released from Lender's security interest in the Pledged Loans only against payment to Lender of the Release Amount in connection with those Pledged Loans. If Pledged Loans are transferred to a pool custodian or an Investor investor for inclusion in a Mortgage Pool and Lender’s 's security interest in the Pledged Loans included in the Mortgage Pool is not released before the issuance of the related Mortgage-backed Security, then that Mortgage-backed Security, when issued, is a Pledged Security, Lender’s 's security interest continues in the Pledged Loans backing that Pledged Security and Lender is entitled to possession of the Pledged Security in the manner provided in this Agreement.
Appears in 1 contract
Samples: Credit and Security Agreement (American Home Mortgage Holdings Inc)
Release of Security Interest in Pledged Loans and Pledged Securities. 4.3 (a) Except as provided in Section 4.3(b), Lender will release its security interest in the Pledged Loans only against payment to Lender of the Release Amount in connection with those Pledged Loans. If Pledged Loans are transferred to a pool custodian or an Investor for inclusion in a Mortgage Pool and Lender’s 's security interest in the Pledged Loans included in the Mortgage Pool is not released before the issuance of the related Mortgage-backed Security, then that Mortgage-backed Security, when issued, is a Pledged Security, Lender’s 's security interest continues in the Pledged Loans backing that Pledged Security and Lender is entitled to possession of the Pledged Security in the manner provided in this Agreement.
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (MortgageIT Holdings, Inc.)