MERS Designated Loans definition

MERS Designated Loans. With respect to each MERS Designated Mortgage Loan, the Seller shall, on or prior to the related Closing Date, designate the Purchaser as the Investor and the Custodian as custodian, and no Person shall be listed as Interim Funder on the MERS System. In addition, on or prior to the related Closing Date, Seller shall provide the Custodian and the Purchaser with a MERS Report listing the Purchaser as the Investor, the Custodian as custodian and no Person listed as Interim Funder with respect to each MERS Designated Mortgage Loan.
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MERS Designated Loans. With respect to each MERS Designated Mortgage Loan, the Seller shall, on the related Closing Date or the next Business Day, designate the Purchaser as the Investor and the Custodian as custodian, and no Person shall be listed as Interim Funder on the MERS System, such listing to be effected within 2 Business Days of the related Closing Date. In addition, within two (2) Business Days of the related Closing Date, Seller shall provide the Custodian and the Purchaser with a MERS Report listing the Purchaser as the Investor, the Custodian as custodian and no Person listed as Interim Funder with respect to each MERS Designated Mortgage Loan.
Sample 1

Examples of MERS Designated Loans in a sentence

  • The Purchaser or the Purchaser’s designee shall be responsible for recording the Assignments of Mortgage (with respect to the Mortgage Loans other than the MERS Designated Loans) and shall be reimbursed by the Seller for the costs associated therewith pursuant to the preceding sentence.

  • Within 90 days after the Closing Date, the Trustee shall, for the benefit of the Holders of the Certificates, based solely on the list of MERS Designated Loans and screen printouts from the MERS System provided to the Trustee by the Responsible Party (such to be provided to the Trustee no later than 45 days from the Closing Date), the Trustee shall confirm, on behalf of the Trust, that the Trustee is shown as the Investor with respect to each MERS Designated Mortgage Loan on such screen printouts.

  • Within 90 days after the Closing Date, the Trustee shall, for the benefit of the Holders of the Certificates, based solely on the list of MERS Designated Loans and screen printouts from the MERS System provided to the Trustee by each Responsible Party (such to be provided to the Trustee no later than 45 days from the Closing Date), the Trustee shall confirm, on behalf of the Trust, that the Trustee is shown as the Investor with respect to each MERS Designated Mortgage Loan on such screen printouts.

Related to MERS Designated Loans

  • Designated loan means a loan se- cured by a building or mobile home that is located or to be located in a special flood hazard area in which flood insurance is available under the Act.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Related Loans has the meaning set forth in Section 3.1. “Restructuring Loss” means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • Offered Loans has the meaning specified in Section 2.05(d)(iii).

  • Affected Loans has the meaning assigned such term in Section 5.05.

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Subject Loans has the meaning assigned to such term in Section 2.11(b)(ii).

  • Revolving Loans as defined in Section 2.4(a).

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Allocated Loan Amount means, for an Individual Property, the amount set forth on Schedule II attached hereto.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Additional Loans means any Additional Revolving Loans and any Additional Term Loans.

  • Existing Revolving Loans has the meaning specified in Section 2.16(a).

  • Syndicated Loans means Base Rate Loans or Euro-Dollar Loans made pursuant to the terms and conditions set forth in Section 2.01.

  • U.S. Revolving Loans means the revolving loans made to the U.S. Borrowers pursuant to Section 2.1(a)(i), or any amendment to this Agreement entered into pursuant to Section 2.5, 2.6 or 2.7, each Agent Advance made to a U.S. Borrower and each U.S. Swingline Loan.

  • New Revolving Loans as defined in Section 2.25.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Purchased Loans means, with respect to each Purchase Agreement, the Loans offered for sale and purchased or substituted pursuant to such Purchase Agreement.

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Extended Loans shall have the meaning assigned to such term in Section 2.21(a).

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Permitted Loans means: