RIGHTS OF NATIONSBANK Sample Clauses

RIGHTS OF NATIONSBANK. The parties hereto acknowledge that the Mortgage Loans will be originated or acquired by the Owner, or an Affiliate thereof, and simultaneously sold to NationsBank subject to the obligation of the Owner under the Master Repurchase Agreement, to repurchase the Mortgage Loans on a Repurchase Date (as defined in the Master Repurchase Agreement). In connection therewith and notwithstanding any provision to the contrary contained herein, the parties hereto agree that under the terms of the Master Repurchase Agreement, Capital Lease Funding, L.P. ("CLF") has irrevocably agreed that NationsBank shall have the exclusive right to exercise all rights and powers of the Owner hereunder. Until such time as NationsBank notifies the Servicer in writing that its right to exercise the rights and powers of the Owner hereunder has terminated or expired under the terms of the Master Repurchase Agreement, (1) the Servicer will only look to NationsBank to provide all directions, consents, powers of attorney and any other executed documents which the Owner is authorized or required to provide to the Servicer hereunder, and the Servicer may rely upon all such directions, consents and documents provided by NationsBank and shall have no obligation to follow or rely upon any directions of CLF or any other Person; (2) except as provided in this Section 8.02, CLF shall perform the obligations of the Owner hereunder, and the Servicer, the Custodian and the Fiscal Agent shall look only to CLF for the payment of any amounts due from the Owner hereunder (including, without limitation, amounts due under any indemnification granted by the Owner hereunder) with respect to actions arising on or before a Default Notice (defined below) shall have been delivered to the Servicer by NationsBank; PROVIDED, HOWEVER, that in the event (i) CLF as Owner is required under the terms of this Agreement to reimburse the Servicer, the Custodian or the Fiscal Agent for any unreimbursed Property Advances (with interest thereon at the Property Advance Rate), (ii) CLF fails to so reimburse the Servicer, the Custodian or the Fiscal Agent in a timely manner, and (iii) the Servicer uses its best efforts to enforce such requirement and CLF does not comply with such requirement within thirty days after receiving written notice from the Servicer of such noncompliance, NationsBank shall assume such requirement and reimburse the Servicer, the Custodian or the Fiscal Agent for such unreimbursed Property Advances (with in...
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Related to RIGHTS OF NATIONSBANK

  • Rights of the Company The Company shall not be required to (i) transfer on its books any Purchased Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Purchased Shares, or otherwise to accord voting, dividend or liquidation rights to, any transferee to whom Purchased Shares have been transferred in contravention of this Agreement.

  • Rights of the NIMS Insurer Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an Indenture and (ii) any series of notes issued pursuant to one or more Indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.01 in the case of clause (ii) below) during the period of time, if any, that (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.

  • RIGHTS OF THE CORPORATION AND COVENANTS Section 5.1 Optional Purchases by the Corporation 27 Section 5.2 General Covenants 27 Section 5.3 Warrant Agent’s Remuneration and Expenses 29 Section 5.4 Performance of Covenants by Warrant Agent 29 Section 5.5 Enforceability of Warrants 29 ARTICLE 6

  • Rights of the Holder The Holder shall not, by virtue hereof, be entitled to any rights of a stockholder in the Company, either at law or equity, and the rights of the Holder are limited to those expressed in this Warrant and are not enforceable against the Company except to the extent set forth herein.

  • Individual Rights of Trustee The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.

  • Rights of Trustee (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document.

  • Certain Rights of Trustee Subject to the provisions of Section 601:

  • Privileges of Stock Ownership Optionee shall have no rights as a shareholder with respect to the Bancorp’s stock subject to this option until the date of issuance of stock certificates to Optionee. Except as provided in the Plan, no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificates are issued.

  • Rights of Trustee as Holder of Senior Debt; Preservation of Trustee’s Rights The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XII with respect to any Senior Debt that may at any time be held by it, to the same extent as any other holder of Senior Debt, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder.

  • Limitation on Rights of Trustee as Creditor If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Notes), after qualification under the Trust Indenture Act, the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of the claims against the Company (or any such other obligor).

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