Eligible Gestation Mortgage Loan means a Mortgage Loan with respect to which each of the following statements is true and correct:
Eligible Gestation Mortgage Loan means a Mortgage Loan with respect to which each of the following statements shall be accurate and complete (and the Company by including such Mortgage Loan in any computation of the Collateral Value of the Borrowing Base shall be deemed to so represent and warrant to the Agent, the Collateral Agent and the Lenders at and as of the date of such computation):
Eligible Gestation Mortgage Loan means a Mortgage Loan: (a) in which Agent has a perfected first-priority security interest for the benefit of Lenders to secure the Obligations; (b) which (i) has been allocated to an Agency Commitment; (ii) is part of a pool which the Agency Custodian has certified (or initially certified) to the Agency obligated under such Agency Commitment; and (iii) together with the other Mortgage Loans which have been allocated to such Agency Commitment, satisfies all requirements for delivery under such Agency Commitment; (c) with respect to which the Mortgage-Backed Security to be issued or guaranteed pursuant to such Agency Commitment will, upon the issuance thereof, constitute an Eligible Mortgage-Backed Security; and (d) to which Borrower has allocated Gestation Loan status in accordance with Section 3.4(b)
Examples of Eligible Gestation Mortgage Loan in a sentence
Collateral Agent's responsibility to review such Collateral to be included in the Borrowing Base as an Eligible' Gestation Mortgage Loan is limited to ensuring that each Gestation Certification has been completed and executed by a Certificating Custodian.
Upon the receipt of any Gestation Certification for any item of Collateral to be included in the Borrowing Base as an Eligible Gestation Mortgage Loan, Collateral Agent shall review such Gestation Certification to determine if it appears regular on its face.
Base shall be deemed delivered to the Collateral Agent upon the receipt by the Collateral Agent of any completed and executed Gestation Certification for such Mortgage Loans; provided that Debtor shall have elected to include such Mortgage Loans in the Borrowing Base as an Eligible Gestation Mortgage Loan pursuant to the shipping request and authorization in the form of Exhibit 6 hereto and the Collateral Agent is in possession of an applicable bailee letter in respect of such Mortgage Loans.
More Definitions of Eligible Gestation Mortgage Loan
Eligible Gestation Mortgage Loan. Eligible Mortgage-Backed Security,"
Eligible Gestation Mortgage Loan means a Mortgage Loan: (a) In which Agent has a perfected first-priority security interest for the benefit of Lenders to secure the Obligations; (b) which (i) has been Allocated to an Agency Commitment; (ii) is part of a pool which the Agency Custodian has certified (or initially certified) to the Agency obligated under such Agency Commitment; and (iii) together with the other Mortgage Loans which have been Allocated to such Agency Commitment, satisfies all requirements for delivery under such Agency Commitment; (c) with respect to which the Mortgage-Backed Security to be issued or guaranteed pursuant to such Agency Commitment will, upon the issuance thereof, constitute an Eligible Mortgage-Backed Security; and (d) with respect to which Borrower has elected pursuant to SECTION 3.4(B) to have the pool which includes such Mortgage Loan attributed Collateral Value as a pool of Eligible Gestation Mortgage Loans rather than as individual Eligible Mortgage Loans.
Eligible Gestation Mortgage Loan means a Mortgage Loan with -------------------------------- respect to which each of the following statements is true and correct:
Eligible Gestation Mortgage Loan. Eligible Mortgage-Backed Security," "Eligible Mortgage Loan," "Eligible Non-Conforming Mortgage Loan," "Eligible Wet Mortgage Loan,""Collateral Value of the Tranche A Borrowing Base," "Collateral Value of the Tranche B Borrowing Base," "Collateral Value of the Tranche C Borrowing Base," "Collateral Value of the Tranche D Borrowing Base," and (c) no amendment, waiver or consent shall, unless in writing and signed by Agent, affect the rights or duties of Agent under this Agreement or any other Loan Document. Borrowers agree to pay to each Lender an administration fee equal to $3,000.00 for each amendment, supplement or other modification of, or waiver in respect of, any Loan Document, which fee shall be payable as of the effective date of such amendment, supplement, modification or waiver.
Eligible Gestation Mortgage Loan. Mortgage Loan" or "Agency MBS"; (b) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; (c) no amendment, waiver or consent shall, unless in writing and signed by the Co-Agent, affect the rights or duties of the Co-Agent under this Agreement or any other Loan Document; and (d) no amendment, waiver or consent shall, unless in writing and signed by the Swing-Line Lender, amend, waive or modify Section 2.1(c), 2.3(b) or Section 2.5(d), (e) or (f) or otherwise affect the rights or obligations of the Swing-Line Lender with respect to Swing-Line Loans.
Eligible Gestation Mortgage Loan. Eligible Mortgage-Backed Security," "Eligible Mortgage Loan," "Eligible Non-Conforming Mortgage Loan," "Eligible REO Property" or "Eligible Servicing Receivable" (or any definitions contained in such definitions), or the number or identity of Lenders that is required for any or all of the Lenders to take any action hereunder,".