Examples of Freddie Mac Servicing Contract Rights in a sentence
Lender may not sell or assign any security interest in the Freddie Mac Servicing Contract Rights, in whole or in part, or any of its rights or obligations under this Agreement, except as may be expressly set forth in the Freddie Mac Acknowledgment Agreement and subject to Freddie Mac’s prior written consent.
The Freddie Mac Servicing Contract Rights and related Collateral may only be pledged, and the proceeds of the Loans may only be used, for the purposes set forth in the Freddie Mac Acknowledgment Agreement.
None of the Freddie Mac Servicing Contract, any Freddie Mac Servicing Contract Rights or any Collateral is a “security” within the meaning of the UCC.
The rights, interests, powers and prerogatives of Freddie Mac constitute an “adverse claim” relating to a “financial asset” (as defined in Article 8 of the UCC) with respect to any Freddie Mac Servicing Contract Rights, any Collateral or the Freddie Mac Servicing Contract, and any payments under any such agreement (including without limitation any Freddie Mac Minimum Servicing Compensation).
With respect to any Person other than Xxxxxxxx and Freddie Mac and, to the extent of the security interest set forth in Section 4.01, of Xxxxxx, no other Person has any interest in the Freddie Mac Servicing Contract Rights, the Collateral or the Freddie Mac Servicing Contract.
As soon as possible, but in any event within one (1) Business Day, of any Freddie Mac Servicing Contract Rights being included by Borrower on a (i) Prospective Mortgage Loan List or (ii) Transfer List (as such terms are defined in the related Freddie Mac VPC Agreement), in each case, delivered to Freddie Mac pursuant to a Freddie Mac VPC Agreement, Borrower shall furnish to Lender a schedule of such Freddie Mac Servicing Contract Rights and the proposed VPC Servicing Transfer Date.
For an overview of the operational process related to requesting and obtaining Freddie Mac’s consent to a Conveyance, Servicers should review the Financing Freddie Mac Servicing Contract Rights – Process Overview available at http://www.freddiemac.com/learn/service/index.html.