Special Negative Covenants Concerning Warehousing Collateral. As long as the Warehousing Commitment is outstanding or there remain any Obligations to be paid or performed, Borrower must not, either directly or indirectly, without the prior written consent of Lender:
(a) Amend or modify, or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Pledged Loans or Pledged Securities.
Special Negative Covenants Concerning Warehousing Collateral. 9-4 10. DEFAULTS; REMEDIES...................................................10-1 10.1. Events of Default....................................................10-1 10.2. Remedies.............................................................10-3 10.3. Application of Proceeds..............................................10-5 10.4. Lender Appointed Attorney-in-Fact....................................10-5 10.5. Right of Set-Off.....................................................10-6 11. MISCELLANEOUS........................................................11-1 11.1. Notices..............................................................11-1 11.2. Reimbursement of Expenses; Indemnity.................................11-1 11.3. Financial Information................................................11-2 11.4. Terms Binding Upon Successors; Survival of Representations...........11-2 11.5. Assignment...........................................................11-2 11.6. Amendments...........................................................11-2 11.7. Governing Law........................................................11-3 11.8. Participations.......................................................11-3 11.9. Relationship of the Parties..........................................11-3 11.10. Severability.........................................................11-3 11.11. Consent to Credit References.........................................11-3
Special Negative Covenants Concerning Warehousing Collateral. DEFAULTS; REMEDIES
Special Negative Covenants Concerning Warehousing Collateral. As long as the Commitments are outstanding or there remain any Obligations to be paid or performed, Borrower shall not, either directly or indirectly, without the prior written consent of the Administrative Agent:
(a) Consent or assent to, or suffer, any Significant Pledged Loan Modification.
(b) Except for the grant of security interests to Administrative Agent for the benefit of itself and the Lenders, sell, transfer or assign, or grant any option with respect to, or pledge any Pledged Loan, any of the Collateral or any interest in any of the Collateral.
(c) Make any compromise, adjustment or settlement in respect of any of the Collateral, or accept anything other than cash in payment or liquidation of the Collateral.
(d) Release any collateral securing any Pledged Loan or any obligor under any Pledged Loan other than as may be required in accordance with the provisions of the loan documents evidencing, securing, and governing such Pledged Loan without amendment, modification or waiver, or as may be permitted pursuant to this Agreement.
(e) Replace the Servicer (including with the Borrower) as servicer of any Pledged Loan, without at least seven (7) Business Days prior written notice to Administrative Agent. If the successor servicer is other than Borrower or an Affiliate of Borrower, (i) such servicer must be a reputable and experienced servicer of loans of the same type as the Pledged Loans and expressly approved in writing by Administrative Agent, and (ii) the servicing must be performed pursuant to a written agreement satisfactory to Administrative Agent.
(f) Agree to any material amendment, modification or waiver of any provision of the Loan Servicing Agreement.
Special Negative Covenants Concerning Warehousing Collateral. As long as the Warehousing Commitment is outstanding or there remain any Obligations to be paid or performed, Borrower must not, either directly or indirectly, without the prior written consent of Lender:
(a) Amend or modify, or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Pledged Loans or Pledged Securities.
(b) Sell, transfer or assign, or grant any option with respect to, or pledge (except under this Agreement and, with respect to each Pledged Loan or Pledged Security, the related Purchase Commitment) any of the Collateral or any interest in any of the Collateral.
(c) Make any compromise, adjustment or settlement in respect of any of the Collateral or accept other than cash in payment or liquidation of the Collateral.
Special Negative Covenants Concerning Warehousing Collateral. As long as the Commitments are outstanding or there remain any Obligations to be paid or performed, Borrowers must not, either directly or indirectly, without the prior written consent of Credit Agent:
(a) Amend or modify, or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Pledged Loans or Pledged Securities.
(b) Sell, transfer or assign, or grant any option with respect to, or pledge (except under this Agreement and, with respect to each Pledged Loan or Pledged Security, the related Purchase Commitment) any of the Collateral or any interest in any of the Collateral.
(c) Make any compromise, adjustment or settlement in respect of any of the Collateral or accept other than cash in payment or liquidation of the Collateral. End of Article 0
Special Negative Covenants Concerning Warehousing Collateral. As long as the Warehousing Commitment is outstanding or there remain any Obligations to be paid or performed, no Borrower must, either directly or indirectly, without the prior written consent of Credit Agent:
(a) Amend, modify or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Pledged Loans or Pledged Securities, except in a manner consistent with the terms of the related Purchase Commitment and any FHA insurance policy or VA guaranty.
(b) Sell, transfer or assign, or grant any option with respect to, or pledge (except under a Purchase Commitment or this Agreement) any of the Collateral or any interest in any of the Collateral.
(c) Make any compromise, adjustment or settlement in respect of any of the Collateral or accept other than cash in payment or liquidation of the Collateral.
(d) Cause UAMC Asset not to issue any stock or other securities in addition to or in substitution for the Pledged Shares, except to UAMC, and pledge hereunder, immediately upon its acquisition (directly or indirectly) thereof, any and all additional shares of stock or other securities of UAMC Asset.
Special Negative Covenants Concerning Warehousing Collateral. As long as the Commitments are outstanding or there remain any Obligations to be paid or performed, no Borrower will, either directly or indirectly, without the prior written consent of Credit Agent:
(a) Amend or modify, or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Pledged Asset, except in a manner consistent with the terms of the related Purchase Commitment, if applicable, and any FHA Insurance policy or VA guaranty.
Special Negative Covenants Concerning Warehousing Collateral. As long as the Warehousing Commitment is outstanding or there remain any Obligations to be paid or performed, Borrower must not, either directly or indirectly, without the prior written consent of Lender:
(a) Amend or modify, or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Pledged Loans or Pledged Securities.
(b) Sell, transfer or assign, or grant any option with respect to, or pledge (except under this Agreement and, with respect to each Pledged Loan or Pledged Security, the related Purchase Commitment) any of the Collateral or any interest in any of the Collateral.
(c) Make any compromise, adjustment or settlement in respect of any of the Collateral or accept other than cash in payment or liquidation of the Collateral. End of Article 9
Special Negative Covenants Concerning Warehousing Collateral. 42 10.4. Special Affirmative Covenants Concerning Builder Construction Mortgage Loans....................................42 10.5. Special Representations Concerning Construction/Perm Mortgage Loans and Third Party Builder Construction Mortgage Loans......42 10.6. Special Representations and Warranties Concerning Receivables..
