Title, Management and Disposition of Foreclosed Property. (a) In the event that title to Collateral is acquired in foreclosure or by deed in lieu of foreclosure or by other legal process, the deed or certificate of sale, or the Repossessed Collateral, shall be taken in the name of the Issuer for the benefit of the Securityholders and the Hedge Counterparties.
Title, Management and Disposition of Foreclosed Property. (a) Except for Agented Loans, Co-Agented Loans and Third Party Agented Loans (in which case, the provisions of the Underlying Loan Agreement relating to taking title to collateral shall apply) in the event that title to Related Property is acquired by the Servicer hereunder in foreclosure or by deed in lieu of foreclosure or by other legal process, the deed, certificate of sale, or Repossessed Property may be taken in the name of the Issuer or in the name of a subsidiary of the Issuer, the equity securities of which will be pledged as Collateral by the Issuer to the Trustee pursuant to the Indenture. Any such Issuer subsidiary shall be serviced by the Servicer, which may perform such services through a nominee or agent as set forth in Section 5.02(b).
Title, Management and Disposition of Foreclosed Property. In the event that title to a Mortgaged Property or other Collateral is acquired in foreclosure, by deed in lieu of foreclosure or by other legal process(a "Foreclosed Property"), the deed or certificate of sale or the Repossessed Collateral may be taken in the name of the Trustee on behalf of the Trust for the benefit of the Certificateholders and the SBA, as their interests may appear under the Multi-Party Agreement dated the date of this Agreement. Unless the servicing of a Foreclosed Property or item of Repossessed Collateral relating to an SBA Section 7(a) Loan is assumed by the SBA pursuant to the SBA Rules and Regulations, the Servicer, subject to Sections 5.01 and 5.02 hereof, shall manage, conserve, protect and operate each Foreclosed Property or other Repossessed Collateral for the SBA and the Certificateholders solely for the purpose of its prudent and prompt disposition and sale. The Servicer shall, either itself or through an agent selected by the Servicer, manage, conserve, protect and operate the Foreclosed Property or other Repossessed Collateral in the same manner that it manages, conserves, protects and operates other foreclosed or repossessed property for its own account, and in the same manner that similar property in the same locality as the Foreclosed Property or other Repossessed Collateral is managed. The Servicer shall attempt to sell the same (and may temporarily rent the same) on such terms and conditions as the Servicer deems to be in the best interest of the SBA and the Certificateholders. The Servicer shall cause to be deposited in the Principal and Interest Account, no later than five Business Days after the receipt thereof, the Unguaranteed Percentage of all revenues received with respect to the conservation and disposition of the related Foreclosed Property or other Repossessed Collateral net of Servicing Advances. In the event any Mortgaged Property or other Repossessed Collateral is acquired as aforesaid or otherwise in connection with a default or imminent default on an SBA Loan, the Servicer shall dispose of such Mortgaged Property or other Repossessed Collateral within two years after its acquisition unless the Servicer and the Trustee shall have received an Opinion of Counsel also addressed to the SBA to the effect that such longer retention will not cause the Trust Fund to be subject to Federal income tax.
Title, Management and Disposition of Foreclosed Property. In the event that title to a Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure (a "Foreclosed Property"), the deed or certificate of sale may be taken in the name of the Trustee on behalf of the Trust for the benefit of the Certificates and the SBA, as their interests may appear.
Title, Management and Disposition of Foreclosed Property. In the event that title to a Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure (a "Foreclosed Property"), the deed or certificate of sale may be taken in the name of the Trustee for the benefit of the Certificateholders. The Servicer, subject to Sections 5.01 and 5.02 hereof, shall manage, conserve, protect and operate each Foreclosed Property for the Certificateholders solely for the purpose of its prudent and prompt disposition and sale. The Servicer shall, either itself or through an agent selected by the Servicer, manage, conserve, protect and operate the Foreclosed Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the Foreclosed Property is managed. The Servicer shall attempt to sell the same (and may temporarily rent the same) on such terms and conditions as the Servicer deems to be in the best interest of the Certificateholders. The Servicer shall cause to be deposited in the Principal and Interest Account, no later than five Business Days after the receipt thereof, all revenues received with respect to the conservation and disposition of the related Foreclosed Property net of Servicing Advances. The disposition of Foreclosed Property shall be carried out by the Servicer at such price, and upon such terms and conditions, as the Servicer, deems to be in the best interest of the Certificateholders. The proceeds of sale of the Foreclosed Property shall promptly, but in no event later than two Business Days after receipt, be deposited in the Principal and Interest Account as received from time to time and, as soon as practicable thereafter, the expenses of such sale shall be paid, the Servicer shall, subject to Section 5.04, reimburse itself for any related unreimbursed Servicing Advances, unpaid Servicing Fees and unreimbursed Monthly Advances, and the Servicer shall deposit in the Principal and Interest Account the net cash proceeds of such sale to be distributed to the Certificateholders in accordance with Section 6.07 hereof. In the event any Mortgaged Property is acquired as aforesaid or otherwise in connection with a default or imminent default on a Business Loan, the Servicer shall dispose of such Mortgaged Property within two years after its acquisition unless the Servicer and the Trustee shall have received an Opinion of Counsel with respect to such longer retention.
Title, Management and Disposition of Foreclosed Property. Except as otherwise required by SBA Rules and Regulations, in the event that title to a Mortgaged Property or other Collateral is acquired in foreclosure or by deed in lieu of foreclosure or by other legal process (a "Foreclosed Property"), the deed or certificate of sale, or the repossessed Collateral shall be taken in the name of the Indenture Trustee or such other Person as the SBA may designate in writing, in each case on behalf of the Trust for the benefit of the Noteholders, the Certificateholders, the SBA and the Hedge Counterparties, as their interests may appear under the Multi-Party Agreement dated the date of this Agreement (or such other name as the SBA may direct). Unless the servicing of a Foreclosed Property or item of Repossessed Collateral relating to an SBA Loan is assumed by the SBA pursuant to the SBA Rules and Regulations, the Servicer, subject to Sections 4.01 and 4.02 hereof, shall manage, conserve, protect and operate each Foreclosed Property or other Repossessed Collateral for the SBA, the Noteholders, the Certificateholders and any Hedge Counterparty solely for the purpose of its prudent and prompt disposition and sale. The Servicer shall, either itself or through an agent selected by the Servicer, manage, conserve, protect and operate the Foreclosed Property or other Repossessed Collateral in
