Relevant Mortgage definition
Examples of Relevant Mortgage in a sentence
Pursuant to the Guarantee Support Agreement, the Transferor or Transferors will assign to the CBC the Relevant Mortgage Receivables and the Beneficiary Rights relating thereto.
To the extent legally possible and required, the Transferor herewith assigns and, as the case may be, assigns in advance (bij voorbaat) to the CBC, and the CBC accepts and, as the case may be, accepts in advance (bij voorbaat) from the Transferor, the Beneficiary Rights relating to the Relevant Mortgage Receivables listed in Annex 1 hereto.
The Administrator will notify the Servicer after the deed of repurchase and reassignment has been signed by the relevant parties which Relevant Mortgage Receivables have been reassigned by the CBC to the relevant Transferor.
Subject to the conditions of Clause 5.1, 5.2 or 5.3 above, the Transferor shall provide the CBC with a Deed of Repurchase and Release substantially in the form set out in Schedule 3, duly executed and completed by or on behalf of the Transferor and detailing all Relevant Mortgage Receivables and the Beneficiary Rights relating thereto which are to be assigned therein in the Annex thereto.
The Servicer shall procure that if at any time 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 Transferor shall promptly pay such amount into the CBC Account in satisfaction of the Relevant Mortgage Receivable.
The Transferor, the CBC and the Security Trustee have entered into the Guarantee Support Agreement whereby the Transferor has undertaken to sell and assign to the CBC and the CBC has undertaken to purchase and accept the assignment of the Relevant Mortgage Receivables.
Pursuant to the Guarantee Support Agreement, the Transferor will sell and assign to the CBC the Relevant Mortgage Receivables and the Beneficiary Rights relating thereto.
The Transferor, the CBC and the Security Trustee have entered into the Guarantee Support Agreement pursuant to which the Transferor has sold and assigned to the CBC and the CBC has purchased and has accepted such assignment from the Transferor the Relevant Mortgage Receivables.
The Servicer shall, or shall procure that the Transferor shall, (i) keep the Loan Files for and on behalf of the CBC in a secure place and shall maintain in an adequate form such records as are necessary to administrate and enforce each Relevant Mortgage Loan, Mortgage, the Borrower Pledges and/or any other collateral security thereto and (ii) identify and be able to identify at any time in its computer system each Relevant Mortgage Receivable and any Beneficiary Rights relating thereto.
If no such payment instructions are available, any amounts received from the relevant Borrower, whether or not upon the enforcement of the relevant Mortgage and/or Borrower Pledge, will first be paid to the CBC up to the amounts due on the Relevant Mortgage Receivable and any remaining amount will be paid to the Transferor up to the amounts due on any other claim.