Radian Asset definition
Examples of Radian Asset in a sentence
Radian Securities will use the Preferred Stock Purchase Price as consideration for the Radian Asset Preferred Stock to be purchased from Radian Asset pursuant to the Radian Asset Put Agreement.
Upon receiving such written notice of resignation, the Trustee shall either take custody of the Mortgage Files itself and give prompt written notice thereof to the Depositor, the Master Servicer, Radian Asset Assurance Inc.
In addition, the breach of any covenant made in this Agreement by Radian Securities shall not terminate this Agreement or limit the rights of Radian Asset hereunder.
Except upon such a substitution, Radian Securities and Radian Asset shall not revoke any such authority or appointment and shall at all times maintain an agent for service of process in the State of New York.
The amount of the Delayed Put Option Premium will be calculated by the Trustee and delivered in writing (the “Delayed Put Option Premium Certificate”) to Radian Securities, who shall deliver a copy of it to Radian Asset prior to 5:00 p.m. on the Delayed Auction Date.
Radian Asset and Radian Securities desire to enter into a binding agreement pursuant to which Radian Asset will have the right to sell, at its option, the Radian Asset Preferred Stock to Radian Securities, and Radian Securities will have an obligation to purchase the Radian Asset Preferred Stock upon Radian Asset’s exercise of its option and upon the other terms and conditions agreed upon by the parties.
With respect to each Mortgage Note, Mortgage and other documents constituting each Mortgage File which are delivered to the Custodian, the Custodian is exclusively the bailee and custodial agent of the Trustee and has no instructions to hold any Mortgage Note or Mortgage for the benefit of any person other than the Trustee, Radian Asset Assurance Inc.
If for any reason such person shall cease to act as agent for the service of process, Radian Securities and Radian Asset shall promptly appoint another such agent, and shall forthwith notify each other of such appointment.
The Radian Asset Preferred Stock shall be delivered free and clear of any defect in title, together with all transfer and registration documents (or all notices, instructions or other communications) as are necessary to convey title to the Radian Asset Preferred Stock to Radian Securities (or its nominee).
Since the Trust’s formation, the Trust has not engaged in any business other than entering into credit default swaps to provide credit protection of synthetic CDOs, synthetic CDOs of commercial mortgage-backed securities or debt securities, including trust preferred securities, each such credit default swap being backed by a financial guaranty insurance policy issued by Radian Asset Assurance Inc.