Pursuant to Section 3 definition

Pursuant to Section 3 above the Company has granted a security interest in and lien upon the Remittance Account and in any and all amounts at any time held therein as collateral security for the Secured Obligations. This Section 9(c) shall constitute notice to the Collateral Agent and Household Bank, N.A. of such security interest pursuant to Section 9302(l)(g) of the Illinois Uniform Commercial Code and any other law or regulation requiring such notice. This Section 9(c) shall further constitute irrevocable notice to the Collateral Agent and Household Bank, N.A. that Remittance Account is a "no access" account to the Company. The Lender shall hold such security interest in and lien upon the accounts referred to in Section 3 above and all funds at any time held therein for the benefit of the Secured Parties with all rights of a secured party under the Illinois Uniform Commercial Code. Unless an Event of Default or Default shall have occurred and be continuing, when final payment of items constituting proceeds of the sales of Pledged Loans or any MBS relating thereto has been received and are acceptable to the Collateral Agent as such, an amount equal to the Release Price therefor shall be transferred to the Lender and applied by the Lender as a prepayment on the Note as set forth in Section 2.5 of the Credit Agreement with the balance of such proceeds to be made available to the Company at the Agent's principal office in Prospect Heights, Illinois. Amounts received after the occurrence and during the continuance of any Event of Default or Default shall be handled in accordance with Sections 8 and 16 hereof.
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Examples of Pursuant to Section 3 in a sentence

  • Pursuant to Section 3 of the Wage and Fringe Benefits Act, MCL 408.480, the employee may designate someone to receive such payments.

  • Pursuant to Section 3 of the Advisory Agreement, the Adviser has retained the right to elect to waive or defer all or a portion of the fees that would otherwise be paid to it.

  • Pursuant to Section 3 of the Warrant, the undersigned hereby elects to convert _______ shares of Common Stock pursuant to the terms of the attached Warrant.

  • Pursuant to Section 3 of the Addendum N° 3 to the Host City Contract for the Games of the XXXII Olympiad in the year 2020 (the "HCC"), the Tokyo Organising Committee of the Olympic and Paralympic Games, the Japanese Olympic Committee, the City of T have agreed that the HCC - Operational Requirements, version December 2016 ( "HCC - Operational Requirements 2016" or "OR 2016") shall be subject to the exceptions listed in the table below (agreed modification appears in bold + underline).

  • Pursuant to Section 3 below, stock or other security dividends or stock splits issued with respect to Restricted Stock shall be treated as additional Restricted Stock that are subject to the same restrictions and other terms and conditions that apply to the Restricted Stock with respect to which such dividends or splits are issued.

  • Pursuant to Section 3 of the Supplemental Servicing Agreement, the Servicer has engaged each Subservicer to subservice and administer the Receivables arising in the Accounts owned by such Subservicer.

  • Pursuant to Section 3 of the Agreement, attached hereto are the schedules comprising the La R▇▇▇ Schedule of Exceptions that are deemed to be part of the entire agreement among the parties with respect to the subject matter of the Agreement.

  • Pursuant to Section 3 of Act 348 Public Acts of 1972, the Tenant’s security deposit is on deposit with the following regulated financial institution: First National Bank of Michigan, ▇.

  • Pursuant to Section 3, of Schedule A of the Agreement, additional discounts may also apply, depending on the cumulative level of annual b▇▇▇▇▇▇▇ achieved.

  • Pursuant to Section 3, above, the Fire District shall assist the Town in taking all actions necessary to include the property(ies) into the Fire District.