Pledged Servicing definition

Pledged Servicing is defined in Section 7.1(h).
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Pledged Servicing means, with respect to any Servicing Agreements with FNMA, GNMA or FHLMC, those loan pools subject to any such Servicing Agreement which (a) do not contain any (i) Mortgage Loans that are Collateral, (ii) commercial Mortgage Loans, or (iii) Mortgage Loans held for investment by the Borrower, the Parent or any of their respective Subsidiaries, and (b) have been specifically identified by the Borrower for inclusion in Collateral by executing and delivering to the Agent (i) an Acknowledgement Agreement covering such Pledged Servicing from FNMA, GNMA or FHLMC, as the case may be and (ii) an amendment, in form and substance satisfactory to the Agent, to the UCC-1 financing statements described in Section 4.1(viii).
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Pledged Servicing means, collectively, the Pledged Servicing Contract Rights and the Pledged Servicing Compensation.
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Examples of Pledged Servicing in a sentence

  • Prior to Borrower making any withdrawal from the custodial account or any other clearing account maintained under the related Servicing Agreement, Borrower, as applicable shall instruct any subservicer(s) and the related depository institution(s) to remit all collections, payments and proceeds in respect of any Pledged Servicing Receivables or Pledged Servicing Rights into the appropriate Pledged Deposit Account.

  • Additionally, the Agent may elect, but shall not be obligated, to treat Pledged Servicing with any investor other than Xxxxxx Mae or Xxxxxxx Mac as having zero Servicing Collateral Value until the date on which an Acknowledgment Agreement covering such Pledged Servicing has been executed and delivered by the Company, the Agent and the investor, as applicable.

  • Each Pledged Servicing Right is an Eligible Pledged Servicing Right.

  • A separate Request for Borrowing shall be made for each Borrowing, which, when appropriately completed and with (i) a current Total Pledged Servicing List (provided that no Total Pledged Servicing List shall be required until the Companies shall first pledge Servicing Rights to the Agent) and (ii) if new Single-family Collateral is being pledged, a Submission List attached, may include requests for Borrowings to finance any type or types of Eligible Collateral.

  • In the event that a Borrower sells or otherwise disposes of any of the Pledged Servicing Rights, it shall give the Lender ten (10) Business Days’ prior written notice of such sale or disposition (together with a list of the affected loans and other information helpful to the Lender in assessing the related Collateral Value), during which time the Lender shall recalculate the Collateral Value for the Collateral remaining after such sale or disposition.

  • Borrower shall not withdraw or direct the withdrawal or remittance of any amounts on account of any Pledged Servicing Receivables or Pledged Servicing Rights income related to any Servicing Agreement from any custodial account into which such amounts have been deposited other than to remit to the appropriate Pledged Deposit Account.

  • The Buyer covenants and agrees to take any and all actions that may be reasonably necessary or appropriate to cause the Pledged Servicing Fees to be pledged no later than January 15, 2018 as per Section 2.2(a) and the terms of the Security Agreement, attached hereto as Exhibit B.

  • For the avoidance of doubt, in no event shall any Servicing Rights be included in the Borrowing Base unless the Serviced Loans underlying such Eligible Pledged Servicing Rights are the subject of a then-current and effective Acknowledgement Agreement from the relevant Agency.

  • Notwithstanding the foregoing, in no event shall any use be an Approved Purpose if such use would violate the terms of the applicable Acknowledgment Agreement, the rules, regulations or guidelines of such Agency or any agreement between Borrower and such Agency, or otherwise result in Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae having a right to challenge or limit Bank’s security interest in the Pledged Servicing Rights or Pledged Servicing Receivables.

  • In the event the Credit Agent or the Required Lenders request that Acknowledgement Agreements with GNMA be obtained, the Company shall deliver to the Collateral Agent fully executed copies of Acknowledgement Agreements with GNMA covering all Pledged Servicing with GNMA.


More Definitions of Pledged Servicing

Pledged Servicing means, as of any date of determination thereof, all right, title and interest of the Company, of every kind and nature, whether now existing or hereafter arising, in and to all Servicing Agreements, together with all accounts receivable arising therefrom, now or hereafter existing, including without limitation all rights of the Company to sell or assign its interest therein and all amounts payable to the Company thereunder arising out of any termination thereof, and all files, surveys, certificates, correspondence, appraisals, computer programs, tapes, disks, cards, accounting records and other records and data of the Company related to the Mortgage Loans covered by such Servicing Agreements and all proceeds and products thereof.
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Pledged Servicing means every right of GMC to service Mortgage Loans, including, without limitation, the rights of GMC under its Servicing Agreement with FNMA and all rights to receive from any mortgagor on whose behalf GMC has advanced funds to the holder of any interest in such Mortgage Loan payment or reimbursement of the amount so advanced.
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Related to Pledged Servicing

  • Pledged Trust Interests means all interests in a Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 4.4(A) under the heading “Pledged Trust Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of such Grantor on the books and records of such trust or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such trust interests.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Pledged LLC Interests means all right, title and interest of any Grantor as a member of any LLC and all right, title and interest of any Grantor in, to and under any LLC Agreement to which it is a party.

  • Pledged Items means, as of any date, any and all securities and instruments delivered by the Pledgor to be held by the Collateral Agent under this Collateral Agreement as Collateral, whether Eligible Collateral or Ineligible Collateral.

  • Collateral Portfolio means all right, title, and interest (whether now owned or hereafter acquired or arising, and wherever located) of the Borrower in the property identified below in clauses (i) through (iv) and all accounts, cash and currency, chattel paper, tangible chattel paper, electronic chattel paper, copyrights, copyright licenses, equipment, fixtures, contract rights, general intangibles, instruments, certificates of deposit, certificated securities, uncertificated securities, financial assets, securities entitlements, commercial tort claims, deposit accounts, inventory, investment property, letter-of-credit rights, software, supporting obligations, accessions, or other property consisting of, arising out of, or related to any of the following (in each case excluding the Retained Interest and the Excluded Amounts):

  • Pledged Operating Agreements means all of each Grantor’s rights, powers, and remedies under the limited liability company operating agreements of each of the Pledged Companies that are limited liability companies.

  • Mortgage Loan Documents means, with respect to the Mortgage Loan, the Mortgage Loan Agreement, the Mortgage, the Notes and all other documents now or hereafter evidencing and securing the Mortgage Loan.

  • Non-Lead Servicing Agreements means the PSA with respect to each Non-Lead Note (other than the Non-Lead Note that is included in the Lead Securitization).

  • Interim Servicer The servicer under the Interim Servicing Agreement, or its successor in interest, or any successor to the Interim Servicer under the Interim Servicing Agreement, as therein provided.

  • Lockbox Agreements means collectively, the Lockbox Account Agreement and the Lockbox Processing Agreement.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • Pledged Funds means all of the Series Pledged Funds.

  • Pledged Assets With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Non-Lead Servicing Agreement means the pooling and servicing agreement, trust and servicing agreement or other similar agreement to be entered into in connection with a Non-Lead Securitization Note.

  • Lockbox Agreement means each agreement between a Borrower and a Clearing Bank concerning the establishment of a Lockbox for the collection of Receivables.