Approved Takeout Investor definition

Approved Takeout Investor means any of (i) Xxxxxx Xxx, Xxxxxxx Mac and any of 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 any Seller; (ii) CL or (iii) an entity which is acceptable to Administrative Agent, as indicated by Administrative Agent to any Seller in writing; provided, however, 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 automatically upon such failure.

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

• All Seller’s representations and warranties shall survive delivery of the Mortgage Note and other Mortgage Loan Documents and the Loan Purchase Detail, the 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 Fannie Mae or Freddie Mac, delivery of MBS to an Approved Takeout Investor, repurchases of the Purchased Mortgage Loans by Seller and termination of this Agreement.

• If Seller desires that Buyer send a Mortgage Note and the related Mortgage to an Approved Takeout Investor, rather than to Seller directly, in connection with Seller’s repurchase of the related Purchased Mortgage Loan, then Seller shall prepare and send to Buyer Shipping Instructions to instruct Buyer when and how to send such Mortgage Note and related Mortgage to such Approved Takeout Investor.

• All such transfers to Fannie Mae, Freddie Mac, another Approved Takeout Investor or Seller are and shall be without recourse on Buyer and without any Buyer’s transfer warranties of UCC §3-417 or other warranty, express or implied.

• The sale of each Mortgage Loan to Buyer shall include Seller’s rights (but none of the obligations) under the applicable Purchase Commitment to deliver the Mortgage Loan to Fannie Mae, Freddie Mac or another Approved Takeout Investor, as applicable, and to receive the net sum therefor provided for in the relevant Purchase Commitment from Fannie Mae, Freddie Mac or the Approved Takeout Investor, as applicable.

• Seller is obligated to obtain from Buyer or its designee Purchased Mortgage Loans and MBS not shipped to an Approved Takeout Investor or an Agency Custodian, at Seller’s expense on the related Repurchase Date.

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 (i) Fannie Mae, Freddie Mac, and Ginnie Mae, and (ii) any other Person named on a list provided by Sellers and approved in writing by Buyer, as that list may be modified from time to time by Sellers with the written approval of Buyer, in each case such written approval not to be unreasonably withheld. Buyer shall respond to requests for approval of any investor within five (5) Business Days after Sellers provide all required information to Buyer;

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) Fannie Mae, 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 Buyer, 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) Fannie Mae, Freddie Mac and any of the other entities listed on Schedule I, as such schedule is updated from time to time by Buyer, in its sole discretion, with written notice to Seller; (ii) CL, or (iii) an entity which is acceptable to Buyer, as notified to Seller in writing by Buyer; provided, however, that, notwithstanding the foregoing, any entity described in the foregoing clauses (i) through (iii) that fails to perform any of its material obligations under its Takeout Agreement shall cease to be an Approved Takeout Investor upon such failure.