Examples of Mortgage Receivable in a sentence
For the avoidance of doubt, such costs and expenses shall be obligations of the CBC to be reimbursed to the Servicer on the next CBC Payment Date following such foreclosure by deducting such costs and expenses from the gross foreclosure proceeds relating to the Mortgage Receivable.
The CBC authorises the Servicer to incur those reasonable costs and expenses to third parties which must reasonably be incurred in the foreclosure of any Mortgage Receivable and the related security rights, including the Mortgage and the Borrower Pledge of the CBC and/or the Security Trustee.
The Servicer shall procure that if at any time the relevant Originator and/or the Transferor receives moneys from a Borrower and it is unsure as to whether such moneys have been paid in respect of the relevant Mortgage Receivable or a mortgage loan secured by the lower-ranking mortgage, the relevant Originator and/or the Transferor shall promptly pay such amount into the CBC Account in satisfaction of the relevant Mortgage Receivable.