Current Business Operations definition

Current Business Operations means the origination, servicing and sale of residential mortgages, home equity loans, consumer loans and other financial assets; the acquisition of newly originated residential mortgages and other financial assets; the acquisition of mortgage servicing rights and servicing rights for other financial assets; the acquisition of residential mortgage-backed securities; real estate services; title insurance; settlement services; appraisal management services; default-related services to servicers and asset managers; title services; insurance brokerage; issuing, sponsoring, providing placement services, pooling of or acquisition of publicly offered and privately issued mortgage-backed securities, mortgage participation certificates and pools of un-securitized mortgage loans and related ancillary activities. Placement services include, but are not limited to, providing structuring advice, writing marketing materials and soliciting investors.

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Current Business Operations means all operations related to: being a mortgage-related technology company; the origination, servicing and sale of residential mortgages, home equity loans, consumer loans and other financial assets; the acquisition of newly originated residential mortgages and other financial assets; the acquisition of mortgage servicing rights and servicing rights for other financial assets; the acquisition of residential mortgage-backed securities; title insurance; settlement services; appraisal management services; default-related services to servicers and asset managers; title services; insurance brokerage; real estate brokerage services; issuing, sponsoring, pooling of or acquisition of publicly offered and privately issued mortgage backed securities, mortgage participation certificates and pools of un-securitized mortgage loans, and reasonably related ancillary activities.

Current Business Operations. All operations related to: being a mortgage-related technology company; the origination, servicing and sale of residential mortgages, home equity loans, consumer loans and other financial assets; the acquisition of newly originated residential mortgages and other financial assets; the acquisition of mortgage servicing rights and servicing rights for other financial assets; the acquisition of residential mortgage-backed securities; title insurance; settlement services; appraisal management services; default-related services to servicers and asset managers; title services; insurance brokerage; real estate brokerage services; issuing, sponsoring, pooling of or acquisition of publicly offered and privately issued mortgage backed securities, mortgage participation certificates and pools of un-securitized mortgage loans, and reasonably related ancillary activities.

Examples of Current Business Operations in a sentence

• Seller shall not make any material change in the nature of its business from Current Business Operations..

• Seller shall not engage to any substantial extent in any line or lines of business activity other than Current Business Operations as of the Closing Date.

• None of the Administrator, the Servicer or any of their Subsidiaries shall make any material change in the nature of its business from Current Business Operations.

• Seller shall not engage in any business other than Current Business Operations and business reasonably related thereto.

• Seller shall not enter into any transaction of merger or consolidation, change its business beyond its Current Business Operations, liquidate or dissolve itself (or suffer any liquidation or dissolution) or discontinue its business unless Seller is the continuing entity following such merger or consolidation; provided, that after giving effect thereto, no Default would exist hereunder.

• The Assignee has had an opportunity to conduct a due diligence review of the Assignor and its Current Business Operations and ask questions of representatives and employees of the Assignor.

• The Company shall not enter into any transaction of merger or consolidation, change its business beyond Current Business Operations, liquidate or dissolve itself (or suffer any liquidation or dissolution) or discontinue its business unless the Company, is the continuing entity following such merger or consolidation.

• The Company shall not engage in any business other than Current Business Operations and business reasonably related thereto.

More Definitions of Current Business Operations

Current Business Operations means the origination, servicing and sale of residential mortgages and other financial assets; the acquisition of newly originated residential mortgages and other financial assets; the acquisition of mortgage servicing rights and servicing rights for other financial assets; the acquisition of residential mortgage-backed securities; title insurance; settlement services; appraisal management services; default-related services to servicers and asset managers; title services; insurance brokerage; issuing, sponsoring, providing placement services, pooling of or acquisition of publicly offered and privately issued mortgage-backed securities, mortgage participation certificates and pools of un-securitized mortgage loans and related ancillary activities. Placement services include, but are not limited to, providing structuring advice, writing marketing materials and soliciting investors.

Current Business Operations means all operations related to: being a mortgage-related technology company; the origination, servicing and sale of residential mortgages, home equity loans, consumer loans and other financial assets; the acquisition of newly originated residential mortgages and other financial assets; the acquisition of mortgage servicing rights and servicing rights for other financial assets; the acquisition of residential mortgage-backed securities; title insurance; settlement services; appraisal management services; default-related services to servicers and asset managers; title services; insurance brokerage; real estate brokerage services; issuing, sponsoring, pooling of or acquisition of publicly offered and privately issued mortgage backed securities, mortgage participation certificates and pools of un-securitized mortgage loans, and reasonably related ancillary activities. “Custodial and Disbursement Agreement” means that certain Custodial and Disbursement Agreement, dated as of August 25, 2020, among Seller, Purchaser, Agent, Disbursement Agent and Custodian, entered into in connection with this Agreement and the Mortgage Loan Participation Purchase and Sale Agreement, as the same may be amended, modified or supplemented from time to time. “Custodian” means Deutsche Bank National Trust Company, and its successors and permitted assigns, or such other entity as mutually agreed upon by Agent and Seller.15 “Daily Compounded SOFR” means, for any day, SOFR, with interest accruing on a compounded daily basis, with the methodology and conventions for this rate (which will include compounding in arrears with a lookback) being established by the Agent in accordance with a methodology and the conventions for this rate selected or recommended by the Relevant Governmental Body for determining "Daily Compounded SOFR" for syndicated or bilateral business loans; provided that, if the Agent decides that any such 15 The definition of “Daily Compounded SOFR” was amended by Amendment No. 1, dated as of September 24, 2021; and was deleted by Amendment No. 2, dated as of April 28, 2022.