Hedge Report means, a report prepared by the Servicer pursuant to Section 3.6 of the Repurchase Agreement, showing, as of the close of business on the last Business Day of each week, all Take-Out Commitments or Xxxxxx obtained by the Sellers to cover all closed loans owned by the Sellers, to the extent that such mortgage loans have been pledged hereunder or pursuant to another lending arrangement, and certain information with respect to such trades including information as the Administrative Agent may request, in the form of Exhibit J of the Repurchase Agreement. Each such Take-Out Commitment or Hedge shall have been pledged to the Administrative Agent; provided, however, that any Xxxxxx may have been pledged previously or may be pledged in the future by the Sellers on a pari passu basis.
Hedge Report means, with respect to any Conforming Loans included in the Eligible Mortgage Collateral that is to be sold to a Governmental Authority, a report prepared by the Servicer and pursuant to Section 3.6 of the Restated Loan Agreement, showing, as of the close of business on the previous Business Day, all trades that have been assigned to the Administrative Agent, for the benefit of holders of the Obligations, and the following information with respect to such trades: (i) trade counterparty, (ii) trade amount, (iii) coupon, (iv) price, (v) type of security, (vi) date of trade, and (vii) such other information as the Administrative Agent may reasonably request in the form of Exhibit K to the Restated Loan Agreement.
Hedge Report means either (a) an Alt-A Loan Hedge Report with respect to any Alt-A Loans included in the Eligible Mortgage Collateral with respect to which there are Xxxxxx, which report is prepared by the Servicer pursuant to Section 3.6 of the Loan Agreement and shows, as of the close of business on the previous Business Day, all Xxxxxx relating to Alt-A Loans, and certain information with respect to such Xxxxxx including information as the Administrative Agent or any of the Managing Agents may request, in the form of Exhibit K-1 to the Loan Agreement or (b) a Conforming Loan Hedge Report with respect to any Conforming Loans included in the Eligible Mortgage Collateral with respect to which there are Xxxxxx, which report is prepared by the Servicer pursuant to Section 3.6 of the Loan Agreement and shows, as of the close of business on the previous Business Day, all Xxxxxx relating to Conforming Loans, and certain information with respect to such Xxxxxx including information as the Administrative Agent or any of the Managing Agents may request, in the form of Exhibit K-2 to the Loan Agreement.
Examples of Hedge Report in a sentence
No later than 11:00 a.m. (eastern time), on the first Business Day of each week, and, if any changes would be reflected since the last Hedge Report, on each other Business Day, the Servicer shall furnish the Borrower and the Administrative Agent a Hedge Report, in the form of Exhibit K.
The Servicer shall prepare a duly completed Hedge Report in the form of Exhibit K to the Repurchase Agreement on the close of business on the last Business Day of each week and shall provide such Hedge Report to the Sellers and the Administrative Agent no later than 10:00 am (eastern time) on the following Business Day.
The Servicer shall prepare a duly completed Hedge Report in the form of Exhibit K to the Loan Agreement on the close of business on the last Business Day of each week and shall provide such Hedge Report to the Borrower and the Administrative Agent no later than 10:00 am (eastern time) on the following Business Day.
The Servicer shall prepare a duly completed Hedge Report in the form of Exhibit J on the close of business on the last Business Day of each week and shall provide such Hedge Report to the Sellers and the Administrative Agent no later than 10:00 a.m. (New York City time) on the following Business Day.
Unless otherwise agreed to by Buyer, with respect to each Purchased Asset, Seller has entered into a Hedge Instrument, which Hedge Instrument, if any, is identified on the Hedge Report, and such Hedge Instrument complies with the requirements of Section 38 hereof and is fully subject to a Securities Account Control Agreement or other assignment instrument acceptable to Buyer.
More Definitions of Hedge Report
Hedge Report means, with respect to any Conforming Loans included in the Eligible Mortgage Collateral that is to be sold to a Governmental Authority, a report prepared by the Servicer and pursuant to Section 3.6 hereof, showing, as of the close of business on the previous Business Day, all trades that have been assigned to the Administrative Agent, for the benefit of holders of the Obligations, and the following information with respect to such trades: (i) trade counterparty, (ii) trade amount, (iii) coupon, (iv) price, (v) type of security, (vi) date of trade, and (vii) such other information as the Administrative Agent may reasonably request in the form of Exhibit K hereto.
Hedge Report means, with respect to any Conforming Loans included in the Eligible Mortgage Collateral with respect to which there is no loan-specific Take-Out Commitment, a report prepared by the Servicer prepared pursuant to Section 3.6 hereof, showing, as of the close of business on the previous Business Day, all Take-Out Commitments obtained by the Originators to cover all closed loans owned by the Originators or the Borrower, to the extent that such mortgage loans have been pledged hereunder or pursuant to another lending arrangement, and certain information with respect to such trades including information as the Administrative Agent may request, in the form of Exhibit K hereto. Each such Take-Out Commitment shall have been pledged to the Administrative Agent; provided, however, that such Take-Out Commitments may have been pledged previously or may be pledged in the future by the Originators.
Hedge Report means, with respect to any Conforming Loans included in the Eligible Mortgage Collateral with respect to which there is no loan-specific Take-Out Commitment, a report prepared by the Servicer prepared pursuant to Section 3.6 hereof, showing, as of the close of business on the previous Business Day, all Take-Out Commitments (either in the form of loan-specific Take-Out Commitments or forward purchase commitments obtained to hedge Mortgage Loans) that have been assigned to the Administrative Agent, and certain information with respect to such trades including information as the Administrative Agent may request, in the form of Exhibit K hereto.
Hedge Report means, a report prepared by the Servicer prepared pursuant to Section 3.6 hereof, showing, as of the close of business on the last Business Day of each week, all Take-Out Commitments or Xxxxxx obtained by the Sellers to cover all closed loans owned by the Sellers, to the extent that such mortgage loans have been pledged hereunder or pursuant to another lending arrangement, and certain information with respect to such trades including such information as the Administrative Agent may request, in the form of Exhibit J hereto. Each such Take-Out Commitment or Hedge shall have been pledged to the Administrative Agent; provided, however, that any Xxxxxx may have been pledged previously or may be pledged in the future by the Sellers on a pari passu basis.
Hedge Report. A report substantially in the form of Exhibit H-0, X-0 xx X-0 hereto submitted pursuant to Section 5.01(h) hereof with respect to any Mortgage Loans included in Eligible Mortgage Loans that are subject to a Hedging Agreement which shows as of the close of business on the previous Business Day, all Hedging Agreements with respect to such Eligible Mortgage Loans and includes, in addition to the information with respect to such Hedging Agreements set out on Exhibit H-0, X-0 xx X-0, as applicable, such other information as the Agent may request. For purposes of determining the weighted average price (expressed as a percentage of par) that Approved Investors are obligated to pay, pursuant to Hedging Agreements, for all Eligible Mortgage Loans, as shown on the most recent applicable Hedge Report (and any adjustments made by the Agent, for purposes of calculating the related Collateral Value, with respect to Mortgage Loans that subsequently were covered by loan specific Take-Out Commitments) in determining the weighted average purchase price for making any adjustments as referenced above, the Agent shall, with respect to the Alt-A Portfolio Profile reported on Exhibit H-1, use the value that is the “Portfolio Total” with respect to the column “Market under “Alt-A Portfolio Profile in Exhibit H-1, with respect to Conforming Mortgage Loans, use the value that is the “Total” with respect to the column “Value” under “Portfolio Hedge Position — Market Value Analysis” in Exhibit H-3, and with respect to Mortgage Loans with investor code 8751, use the value that is the “Hedge Portfolio Total” with respect to the column “Market” under “Builder Hedge Portfolio” in the Builder Forward Portfolio Report, Exhibit H-2.
Hedge Report means, with respect to any Conforming Loans included in the Eligible Mortgage Collateral with respect to which there is no loan-specific Take-Out Commitment, a report prepared by the Servicer prepared pursuant to Section 3.6 hereof, showing, as of the close of business on the previous Business Day, all trades that have been assigned to the Administrative Agent, and certain information with respect to such trades including information as the Administrative Agent may request, in the form of Exhibit K hereto.
Hedge Report means the bi-weekly report, substantially in the form attached hereto as Exhibit I, delivered by Originator, or a designated third party, to Buyer and detailing each Hedge Instrument with respect to the Purchased Assets, including without limitation, the value of all such Hedge Instruments.