Liquidated Asset definition

Liquidated Asset means (i) a Purchased Mortgage Loan or Contributed Mortgage Loan that has been sold or refinanced or was subject to a short sale or with respect to which the Mortgaged Property has been sold or (ii) a Contributed REO Property that has been sold.

Liquidated Asset. A Defaulted Contract or defaulted Mortgage Loan as to which all amounts that the Servicer expects to recover through the date of disposition of the related Manufactured Home or Mortgaged Property have been received.

Liquidated Asset means any Asset included in the Collateral (i) that is owed by an Obligor which has suffered an Insolvency Event, (ii) that any Servicer has determined in good faith should be charged-off in accordance with its Operating Policies and Practices or (iii) that has been liquidated through its sale (such Asset shall become a Liquidated Asset as of the earliest date on which any of the foregoing has occurred).

Examples of Liquidated Asset in a sentence

• Provided that no Default shall have occurred and be continuing, Buyer agrees to permit the release of the Liquidated Asset from a Seller Party Subsidiary concurrently with receipt of confirmation that proceeds have been received by the applicable Servicer or Property Manager.

• With respect to a Liquidated Asset, each Seller agrees to (i) provide Administrative Agent with a copy of a report from the applicable Servicer or Property Manager, as applicable, indicating that such Contributed Asset has been liquidated, (ii) cause the applicable Servicer or Property Manager to remit the Optional Prepayment in accordancewith S ection 4(b) and (iii) provide Administrative Agent a notice specifying each Contributed Asset that has been liquidated.

• Provided that no Default shall have occurred and be continuing, Administrative Agent acting on behalf of Buyers agrees to permit the release of the Liquidated Asset from a Seller Party Subsidiary concurrently with receipt of confirmation that proceeds have been received by the applicable Servicer or Property Manager.

More Definitions of Liquidated Asset

Liquidated Asset means (i) a Contributed Mortgage Loan that has been sold or refinanced or was subject to a short sale or with respect to which the Mortgaged Property has been sold, (ii) a Contributed REO Property that has been sold or (iii) a Contributed Rental Property that has been sold.

Liquidated Asset means with respect to any Financed Asset, such Financed Asset has been sold or refinanced, was subject to a short sale or any other extinguishment of the Lien securing the Financed Asset.

Liquidated Asset means (i) a Trust Mortgage Loan that has been sold or refinanced or was subject to a short sale or with respect to which the Mortgaged Property has been sold or (ii) a REO Property that has been sold.

Liquidated Asset means an Asset for which all amounts expected to be recovered (exclusive of the possibility of recovery from deficiency judgments or default judgment) have been recovered by the servicer, whether by way of disposition of an REO Property, refinance, offer and compromise, charge-off or other means of liquidation.

Liquidated Asset. A Mortgage Loan that has been repurchased from a Mortgage Pool underlying Xxxxxx Mae MBS or was subject to a short sale or with respect to which the Mortgaged Property has been sold (including REO Property resulting from the foreclosure of the related Mortgaged Property).

Liquidated Asset. Any defaulted Asset as to which the Servicer has determined that all amounts which it expects to recover from or on account of such Asset have been recovered; provided that any defaulted Asset in respect of which the related Manufactured Home or Mortgaged Property, have been realized upon and disposed of and the proceeds of such disposition have been received shall be deemed to be a Liquidated Asset.

Liquidated Asset means (i) a REO Property subject to a REO Rental Transfer or otherwise sold by the Trust Subsidiary, but not Non-Rental REO Property subject to a Non-Rental REO Transfer, (ii) a REO Property sold by a TRS Facility Entity but not relating to a REO Rental Property and (iii) a Trust Mortgage Loan that has been prepaid, sold (including in connection with a Third-Party Sale), refinanced, liquidated, charged-off, or was subject to a short sale, or otherwise disposed of.