Portfolio Asset definition
Examples of Portfolio Asset in a sentence
The Collateral Manager will use its reasonable best efforts to collect all payments with respect to amounts due for Taxes, assessments and insurance premiums relating to each Portfolio Asset to the extent required to be paid to the Borrower for such application under the Underlying Instrument and remit such amounts in accordance with Section 2.7 and Section 2.8 to the appropriate Governmental Authority or insurer as required by the Underlying Instruments.
The Seller has conducted the due diligence and other review it considered necessary with respect to each Portfolio Asset acquired by the Borrower from the Seller.
The information set forth with respect to each Portfolio Asset in Schedule III is correct and, with respect to each Funding Date, Schedule III lists all the Portfolio Assets as of such Funding Date.
Each Portfolio Asset acquired by the Borrower, (i) if originated by the Borrower or an Affiliate of the Borrower, was originated without any fraud or material misrepresentation and (ii) if originated by an unaffiliated third party, was, to the Borrower’s knowledge as of the date of the acquisition by the Borrower of such Portfolio Asset, originated without any fraud or material misrepresentation.
No Portfolio Asset has been amended, modified or waived, except for amendments, modifications or waivers, if any, to such Collateral otherwise permitted under Section 6.4(a) and in accordance with the Credit and Collection Policy.