Transfer of Pipeline Loans Sample Clauses

Transfer of Pipeline Loans. Old Long Beach hereby sells, conveys, transfers, assigns and grants to LBFC all of Old Long Beach's legal, beneficial and other right, title and interest in the unfunded loans and loans in process at the Wholesale Lending Business at the Effective Time (the "Pipeline Loans"). The Company agrees to process the Pipeline Loans in compliance with the policies and procedures of the Wholesale Lending Business and further agrees to fund all such loans in accordance with its current practices and as required by applicable law. [Loans which were funded by the Wholesale Lending Business prior to the Effective Time, but which are unfunded after the Effective Time, shall be included within the definition of Pipeline Loans and Old Long Beach shall receive the proceeds of such unfunding]; and
Sample 1
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Transfer of Pipeline Loans. Seller shall take such actions, and execute and deliver such documents and instruments, as may be necessary to transfer all of its right, title and interest in and to the Pipeline Loans to Purchaser including, without limitation, delivering to Purchaser any and all originals (and not copies) of the Loan Files and other materials relating to each such Pipeline Loan. Concurrently with the satisfaction by Seller of the foregoing conditions, Purchaser shall assume any commitments to fund those Pipeline Loans included within the Purchased Assets, to deliver each Pipeline Loan to the Relevant Investor (if any) and otherwise take those commercially reasonable actions consistent with past practices of Seller through the Closing to comply with the requirements of each Investor. In connection with the sale and assignment by Seller of the Pipeline Loans hereunder, Purchaser and Seller agree that all fees and charges paid by a prospective mortgagor in respect of any Pipeline Loan shall belong to and be retained by Purchaser, regardless of when such amounts were paid by borrower, and Seller agrees, for itself and its Affiliates, successors and assigns as follows: (i) if Seller should possess, receive or collect any fees, charges or expenses in respect of any Pipeline Loan which, in accordance with this Section 10.4, would be deemed to belong to Purchaser (or Purchaser's Affiliates, successors or assigns), Seller shall immediately remit the amount owing to Purchaser; or (ii) if Seller should possess, receive or collect any fees, charges or expenses due to third parties as a result of services performed on behalf of the borrower prior to the Closing Date, then Seller shall assign all of its right, title and interest in and to such accounts (and all proceeds thereof) to Purchaser. In addition, if Purchaser fails to deliver a Pipeline Loan to a Relevant Investor, the BNC Parties shall pay and be responsible for any "pair-off" or non-delivery fees that result from such non-delivery.
Sample 1

Related to Transfer of Pipeline Loans

  • Transfer of Loans The Assignment of Mortgage is in recordable form and is acceptable for recording under the laws of the jurisdiction in which the Mortgaged Property is located.

  • Registration and Transfer of Limited Partner Interests (a) The General Partner shall keep or cause to be kept on behalf of the Partnership a register in which, subject to such reasonable regulations as it may prescribe and subject to the provisions of Section 4.5(b), the Partnership will provide for the registration and transfer of Limited Partner Interests.

  • Transfer of Membership Interests (a) The Member may transfer its Membership Interest, in whole but not in part, but the transferee shall not be admitted as a Member except in accordance with Section 6.07. Until the transferee is admitted as a Member, the Member shall continue to be the sole member of the Company (subject to Section 1.02) and to be entitled to exercise any rights or powers of a Member of the Company with respect to the Membership Interest transferred.

  • Transfer of Partnership Interests The foregoing power of attorney shall survive the delivery of an instrument of transfer by any Partner of the whole or any portion of or interest in its Partnership Interest, except that (i) where a Partner becomes a Former Partner, or (ii) where a Transferee of such Partnership Interest has been approved as a successor Partner and the Transferor shall thereupon cease being a Partner (all in accordance with this Agreement), then the power of attorney of the Former Partner or the Transferor Partner, as the case may be, shall survive the cessation of Partner status or the delivery of such instrument of transfer, as the case may be, for the sole purpose of enabling the attorneys-in-fact for such Former Partner or the Transferor Partner (or any of them) to execute, swear to, acknowledge and file any and all instruments necessary to effectuate or reflect such cessation, transfer and succession.

  • Transfer of Optioned Interests For each exercise of the Equity Interest Purchase Option:

  • Transfer of Interests The Member may sell, assign, pledge, encumber, dispose of or otherwise transfer all or any part of the economic or other rights that comprise its Interest. The transferee shall have the right to be substituted for the Member under this Agreement for the transferor if so determined by the Member. No Member may withdraw or resign as Member except as a result of a transfer pursuant to this Section 7 in which the transferee is substituted for the Member. None of the events described in Section 18-304 of the Act shall cause the Member to cease to be a Member of the Company.

  • Transfer of Acquired Assets At the Closing, Seller is transferring and shall transfer to Buyer, and the Transaction Agreements are effective to vest in Buyer, good, valid and indefeasible or marketable, fee simple or leasehold, as applicable, title to the Acquired Assets, free and clear of all Liens, other than Permitted Liens.

  • Transfer of the Mortgage Loans (a) Possession of Mortgage Files. The Seller does hereby sell, transfer, assign, set over and convey to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser and promptly transferred to the Trustee. Upon the sale of the Mortgage Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered promptly to the Purchaser or as otherwise directed by the Purchaser.

  • Restrictions on Transfer of Limited Partnership Interests (a) Subject to the provisions of 9.2(b), (c) and (d), no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of its Limited Partnership Interest, or any of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) without the consent of the General Partner, which consent may be granted or withheld in its sole and absolute discretion. Any such purported transfer undertaken without such consent shall be considered to be null and void ab initio and shall not be given effect. The General Partner may require, as a condition of any Transfer to which it consents, that the transferor assume all costs incurred by the Partnership in connection therewith.

  • Restriction on Transfer of Subject Securities Subject to Section 2.3, during the period from the date of this Agreement through the Voting Covenant Expiration Date, Stockholder shall not, directly or indirectly, cause or permit any Transfer of any of the Subject Securities to be effected.

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