Approved Takeout Investor definition

Approved Takeout Investor means any of (i) Xxxxxx Xxx, Freddie Mac and the other entities listed on Schedule I attached to the Side Letter, as such schedule is updated from time to time by Xxxxx, in its reasonable discretion, with written notice to Seller and Custodian, or (ii) an entity that is acceptable to Buyer in its reasonable discretion, as indicated by Buyer to Seller and Custodian in writing; provided that, notwithstanding the foregoing, any entity described in the foregoing clauses (i) and (ii) that fails to perform any of its obligations under its Takeout Agreement shall cease to be an Approved Takeout Investor automatically upon such failure unless Buyer waives such disqualification in writing.

Approved Takeout Investor means any of (i) Xxxxxx Mae, Xxxxxxx Mac and any of the other entities listed on Schedule I, as such schedule is updated from time to time by agreement of Seller and Buyer; (ii) CL or (iii) an entity which is reasonably acceptable to Buyer, as indicated by Buyer to Seller in writing; provided that, notwithstanding the foregoing, any entity described in the foregoing clauses (i) through (iii) that fails to perform any of its obligations under its Takeout Agreement shall cease to be an Approved Takeout Investor upon such failure.

Approved Takeout Investor means FNMA, FHLMC, GNMA and any other investor listed on Schedule 2.

Examples of Approved Takeout Investor in a sentence

• Seller has full right and authority and is not precluded by law or contract from furnishing to Buyer the applicable consumer report (as defined in the Fair Credit Reporting Act, Public Law 91-508) and all other credit information relating to each Purchased Mortgage Loan sold hereunder, and Buyer will not be precluded from furnishing such materials to the related Approved Takeout Investor by such laws.

• Any representations or warranties made by Seller to the Approved Takeout Investor upon final sale of the Mortgage Loan are hereby incorporated into this Agreement, and Seller is deemed to make the same representations and warranties to Buyer, as if such representations and warranties were fully set forth herein.

• Seller and each Approved Takeout Investor is a member of MERS in good standing.

• All Seller representations and warranties shall survive delivery of the Loan Eligibility Files, the Asset Files and the Confirmations, purchase by Buyer of Purchased Mortgage Loans, transfer of the servicing for the Purchased Mortgage Loans to a successor servicer, delivery of Purchased Mortgage Loans to an Approved Takeout Investor, repurchases of the Purchased Mortgage Loans by Seller and termination of this Agreement.

• The Seller shall deliver such a report to the Buyer every thirty (30) calendar days until the purchase by an Approved Takeout Investor of such Mortgage Loans pursuant to the related Takeout Commitment.

More Definitions of Approved Takeout Investor

Approved Takeout Investor means GNMA, Xxxxxx Xxx, Xxxxxxx Mac and any other investor listed on Schedule 2 as the same may be amended from time to time at the sole discretion of Buyer.

Approved Takeout Investor means (i) any Agency, (ii) any institution listed on Exhibit 12 which has made a Takeout Commitment and has been approved by Buyer or (iii) any other institution which has otherwise been approved in writing by Buyer.

Approved Takeout Investor means (i) Xxxxxx Xxx, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association and any other Government Sponsored Entity and (ii) any other Person that has a minimum stockholders’ equity of $10,000,000 (calculated in accordance with GAAP) and has been consented to by the Administrative Agent (such consent not to be unreasonably withheld or delayed) and such consent has not been withdrawn.

Approved Takeout Investor means any of (i) CL, Xxxxxx Xxx, Xxxxxxx Mac and the other entities listed on Schedule I, as such schedule is updated from time to time by Administrative Agent, in its sole discretion, with written notice to Seller; provided that Buyer will give Seller five (5) Business Days’ written notice of Buyer’s election to remove any Approved Takeout Investor from Schedule I and no such elective removal of any Approved Takeout Investor shall affect or impair the acceptability of any Takeout Commitment covering any Purchased Mortgage Loan purchased before the effective date of such removal, or (ii) an entity that is acceptable to Administrative Agent, as indicated by Administrative Agent to Seller in writing.

Approved Takeout Investor is substituted for the term “Approved Investor” where it appears in subsection 10(a)(xvii).

Approved Takeout Investor means any of (i) Fannie Mae, Freddie Mac and the other entities listed on Exhibit G, as such exhibit is updated from time to time by Buyer, in its sole discretion, with written notice to Seller, or (ii) an entity that is acceptable to Buyer, as indicated by Buyer to Seller in writing; provided that, notwithstanding the foregoing, any entity described in the foregoing clauses (i) or (ii) that fails to perform any of its obligations under its Purchase Commitment shall cease to be an Approved Takeout Investor automatically upon such failure.

Approved Takeout Investor means any of (i) Fxxxxx Mxx, Fxxxxxx Mac, Gxxxxx Mxx and the other entities listed on Schedule I, (ii) an investor added on an update of such schedule from time to time delivered to Buyer by Seller or (iii) CL, provided that Buyer, in its discretion, may disapprove any Approved Takeout Investor (other than an Agency or CL) in its good faith discretion by written notice to Seller, whereupon such investor shall cease to be an Approved Takeout Investor.