Examples of Contributed Mortgage Loan in a sentence
Each transfer of Contributed Mortgage Loans and Contributed REO Property to a Trust Subsidiary constitutes reasonably equivalent value and fair consideration for such Contributed Mortgage Loan.
From time to time, Seller may request and Buyer will fund Purchase Price Increases in connection with the acquisition or transfer of Mortgage Loans by or to the Pass-Through Trust Trustee for the Pass-Through Trust and the corresponding increase in value of the Purchased Certificate equal to the Purchase Price for such Contributed Mortgage Loan as of the related Purchase Date.
Such obligation to repurchase exists without regard to any prior or intervening liquidation or foreclosure with respect to any Purchased Asset or Contributed Mortgage Loan (but foreclosure proceeds received by Administrative Agent shall be applied to reduce the Repurchase Price for such Purchased Asset or Contributed Mortgage Loan on each Price Differential Payment Date except as otherwise provided herein).
Except in accordance with the Custodial Agreement, Seller will not allow any such papers, records or files that are an original or an only copy to leave Custodian’s possession, except for individual items removed in connection with servicing a specific Contributed Mortgage Loan, in which event Seller will obtain or cause to be obtained a receipt from a financially responsible person for any such paper, record or file.
To the extent not previously delivered and approved, Administrative Agent shall have, in its sole discretion, approved the Servicing Agreement pursuant to which any Contributed Mortgage Loan that is subject to the proposed Transaction is serviced.
No Seller Party has assigned, pledged, or otherwise conveyed or encumbered any Purchased Asset or Contributed Mortgage Loan to any other Person, other than as contemplated in the Program Agreements, and immediately prior to the sale of such Purchased Certificate to Buyer, Seller was the sole owner of such Purchased Certificate and had good and marketable title thereto, free and clear of all Liens, in each case except for Liens to be released simultaneously with the sale to Buyer hereunder.
Each Seller Party makes the following representations and warranties to Administrative Agent with respect to each Purchased Mortgage Loan and Contributed Mortgage Loan that is at all times subject to a Transaction hereunder and at all times while the Program Agreements and any Transaction hereunder is in full force and effect.
Except in accordance with the Custodial Agreement, no Seller will allow any such papers, records or files that are an original or an only copy to leave Custodian’s possession, except for individual items removed in connection with servicing a specific Contributed Mortgage Loan.
With respect to each Contributed Mortgage Loan and Contributed REO Property, the applicable Seller shall have delivered to Administrative Agent a BPO valuation and valuation date, and such other information as may be required by Administrative Agent pursuant to Section 3(b) for such Purchased Asset.
With respect to each Contributed Mortgage Loan, the Asset File has been delivered to the Custodian in accordance with the Custodial Agreement.