Securitization of Loans Sample Clauses

Securitization of Loans. If the Qualified Mortgages are securitized by CII (CII will give notice to [ NAME ] prior to the delivery of a block of loans), then [CONFIDENTIAL PORTION DELETED]
Sample 1
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Securitization of Loans. (a) The Borrower hereby acknowledges that the Lenders and their Affiliates may sell or securitize the Loans (a “Securitization”) through the pledge of the Loans as collateral security for loans to the Lenders or their Affiliates or through the sale of the Loans or the issuance of direct or indirect interests in the Loans. The Borrower shall cooperate with the Lenders and their Affiliates to effect the Securitization including, without limitation, by (i) amending this Agreement and the other Loan Documents, and executing such additional documents, as reasonably requested by the Lender in connection with the Securitization; provided that (A) any such amendment or additional documentation does not impose material additional costs on the Borrower and (B) any such amendment or additional documentation does not materially adversely affect the rights, or materially increase the obligations, of the Borrower under the Loan Documents or change or affect in a manner adverse to the Borrower the financial terms of the Loans; (ii) providing such information as may be reasonably requested by the Lenders in connection with the rating of the Loans or the Securitization; and (iii) providing in connection with any rating of the Loans a certificate (A) agreeing to indemnify each Lender and its Affiliates, any Rating Agencies rating the Loans, or any party providing credit support or otherwise participating in the Securitization (collectively, the “Securitization Parties”) for any losses, claims, damages or “liabilities” (the “Liabilities”) to which such Lender, its Affiliates or such Securitization Parties may become subject insofar as the Liabilities arise out of or are based upon any untrue statement or alleged untrue statement of any material fact by the Borrower or any Affiliate of the Borrower contained in any Loan Document or in any writing delivered by or on behalf of the Borrower or any Affiliate of the Borrower to the Lenders in connection with any Loan Document or arise out of or are based upon the omission or alleged omission by the Borrower or any Affiliate of the Borrower to state therein a material fact required to be stated therein, or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and such indemnity shall survive any transfer by any Lender or its successors or assigns of the Loans and (B) agreeing to reimburse each Lender and its Affiliates for any legal or other expenses reasonably ...
Sample 1
Securitization of Loans. The parties agree that, it is anticipated that upon the accumulation of up to an aggregate principal amount of Mortgage Loans as deemed sufficient, by mutual agreement of CRIIMI MAE and CRE, for a Securitization, CRIIMI MAE shall purchase the Mortgage Loans from CRE in an amount equal to the Purchase Price in conjunction with a Securitization. CRIIMI MAE shall separately engage CSI for the structuring and underwriting of the investment grade bonds in connection with any Securitization in accordance with the terms of a separate engagement letter. CRIIMI agrees to pay to CSI for services as underwriter/placement agent on Mortgage Loans originated by CRIIMI MAE, funded by CRE under the Program and included in a Securitization, a 75 basis point underwriting/placement fee on the aggregate outstanding principal balance of the Mortgage Loans included in such Securitization. CRIIMI MAE will have the right to name a co-underwriter to sell up to 25% of the investment grade bonds in any Securitization. The amount due to the co-underwriter shall not exceed 50 basis points on the 25% investment grade bond allocation. The foregoing amount shall be paid out of CSI's underwriting fee. CRIIMI MAE shall be responsible for all, or in the case of a joint transaction with another issuer its pro-rata share of, issuance expenses associated with a Securitization, which shall include legal counsel for both issuer and underwriter/placement agent, accounting firms, trustee legal expenses, printing expenses, and the up-front rating and surveillance monetary fees as well as legal expenses for at least two Rating Agencies or such greater or lesser number of Rating Agencies as future market conditions require. In connection with any Securitization, CRE shall obtain, for the benefit of CRE, an opinion reasonably acceptable in form and substance to CRE, from legal counsel reasonably acceptable to CRE, that the transfer of the related Mortgage Loans from CRE to CRIIMI MAE as provided in this Section 7.01 constitutes a "true sale" for bankruptcy purposes. CRIIMI MAE shall pay reasonable legal and counsel fees incurred by CSI and CRE in connection with a Securitization (including the "true sale" opinion described above), not to exceed the lesser of $100,000 and 1.75 basis points on the securitized pool balance and all other costs incurred by CRIIMI MAE, CSI or CRE in connection with any such Securitization (including the transfer or the Mortgage Loans from CRE to CRIIMI MAE in connection the...
Sample 1

Related to Securitization of Loans

  • Servicing of Loans The servicing, administering and collection of the Loans shall be conducted by the Servicer then authorized to act as such under the Sale and Servicing Agreement.

  • Sale and Transfer of Loans and Notes; Participations in Loans and Notes Each Lender may assign, or sell participations in, its Loans and Commitments to one or more other Persons in accordance with this Section 10.11.

  • Administration and Servicing of Loans Section 3.1 Servicer to Act as Servicer; Administration of the Loans..............................45 Section 3.2 Collection of Certain Loan Payments; Custodial Account for P&I........................48 Section 3.3 Permitted Withdrawals from the Custodial Account for P&I..............................50 Section 3.4 Taxes, Assessments and Similar Items; Escrow Accounts.................................51 Section 3.5 Maintenance of Insurance..............................................................52

  • Repayment and Amortization of Loans; Evidence of Debt (a) The Borrowers hereby unconditionally promise to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date, (ii) to the Administrative Agent the then unpaid amount of each Protective Advance on the earlier of the Maturity Date and demand by the Administrative Agent, and (iii) to the Administrative Agent the then unpaid principal amount of each Overadvance on the earlier of the Maturity Date and demand by the Administrative Agent.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • Notes; Repayment of Loans (a) All Revolving Credit Loans made by a Lender to the Borrowers shall be evidenced by a single Revolving Credit Note, duly executed on behalf of the Borrowers, dated the Closing Date, in substantially the form of EXHIBIT B annexed hereto, delivered and payable to such Lender in a principal amount equal to its Revolving Credit Commitment on such date. The outstanding balance of each Revolving Credit Loan, as evidenced by any such Revolving Credit Note, shall mature and be due and payable on the Revolving Credit Termination Date if such date occurs earlier than the Conversion Date or, subject to the terms and conditions of this Agreement, including, without limitation, that no Default or Event of Default shall then exist, shall be converted to a Term Loan on the Conversion Date. The Term Loan made by a Lender on the Conversion Date shall be evidenced by a single Term Note, duly executed on behalf of the Borrowers, dated the Conversion Date, in substantially the form of EXHIBIT A annexed hereto, delivered and payable to such Lender in a principal amount equal to its PRO RATA share (based on its Revolving Credit Commitment) of the Revolving Credit Loans being converted on such date; PROVIDED, HOWEVER, that the failure of the Borrowers to deliver Term Notes pursuant to the provisions of this Section shall not affect the liability of the Borrowers to repay the amount of Revolving Credit Loans being converted.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • Classification of Loans and Borrowings For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”).

  • Payment of Loans The Borrower shall punctually pay the principal and interest on the Loans, and all other sums falling due hereunder or under any other documents executed in connection with the Loans, in accordance with the terms hereof and thereof.

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