Examples of Class A Swap Agreement in a sentence
The Seller does hereby sell 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 and the Class A Swap Agreement, but excluding the Servicing Rights.
The Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans and the Class A Swap Agreement, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement and the Pooling and Servicing Agreement.
The closing of the purchase and sale of the Mortgage Loans and the Class A Swap Agreement shall be held at the New York City office of Xxxxxxx Xxxxxxxx & Xxxx LLP at 10:00 a.m. New York City time on the Closing Date.
As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (other than, for the avoidance of doubt, the Supplemental Interest Trust and the Class A Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC I”.
The Certificates are limited in right of payment to certain collections and recoveries in respect of the Mortgage Loans and payments received pursuant to the Class A Swap Agreement, all as more specifically set forth herein and in the Agreement.