REO Properties definition

REO Properties means real properties owned by Residential but not active in Residential’s rental program.

REO Properties means all Subject REO Referrals that [***].

REO Properties means any Mortgaged Property with respect to which the Trustee has taken ownership as a result of Foreclosure or acceptance of a deed in lieu of Foreclosure pursuant to the related Subject Servicing Agreement.

Examples of REO Properties in a sentence

• The Trust consists primarily of the Mortgage Loans, such amounts as shall from time to time be held in the Certificate Account and Distribution Account, the Insurance Policies and any REO Properties.

• The exercise of such right will effect early retirement of the Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties remaining in the Trust Fund at the time of purchase being less than or equal to 10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

• If the Master Servicer elects to terminate the Trust Fund pursuant to clause (a) of Section 9.01, at least 20 days prior to the date notice is to be mailed to the affected Certificateholders, the Master Servicer shall notify the Depositor and the Trustee of the date the Master Servicer intends to terminate the Trust Fund and of the applicable repurchase price of the Mortgage Loans and REO Properties.

• The Trust consists primarily of the Mortgage Loans, such amounts as shall from time to time be held in the Collection Account and Distribution Account, the Insurance Policies and any REO Properties.

• On any Distribution Date following the date at which the remaining Stated Principal Balance of the Mortgage Loans and REO Properties is equal to or less than 10% of the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, the Holders of the majority of the Percentage Interest of the Class C Certificates, the Master Servicer or the NIMS Insurer, if any, may purchase, in whole, from the Trust the Mortgage Loans in the manner and at a purchase price determined as provided in the Agreement.

More Definitions of REO Properties

REO Properties means real estate assets, including, but not limited to apartments, houses, town homes, hotels, commercial buildings, parking lots, storage houses and land, or holding companies owning such assets, and which assets (i) stems from realized mortgages or security for a receivable owned by, or (ii) are acquired as an integral part of an acquisition of debt by any Group Company or a Joint Venture where any member of the Group has an equity interest of 50% or less.

REO Properties means all Subject REO Referrals that [***]. (t) “Existing REO Properties” means all Subject REO Referrals that were listed by or through RHSS prior to the Acquisition Date for the related Covered Portfolio. (u) “First Licensed Jurisdiction” has the meaning set forth in Section 6(d) hereto. (v) “[***] Jurisdiction License Failure” has the meaning set forth in Section 19(g)(i) hereto. (w) “Governmental Authority” shall mean any national or federal, state, regional, or local government or other political subdivision, including without limitation all agencies thereof, and any person with jurisdiction exercising executive, legislative, judicial, regulatory, or administrative functions of or pertaining to government. (x) “Guarantor” shall mean the guarantor under the Guaranty or any permitted successors or assigns to its obligations thereunder. (y) “Guaranty” shall mean the guaranty of Altisource Solutions S.à. x.

REO Properties shall have the meaning set forth in the Recitals.

REO Properties will consist of any and all Properties, legal title to which has been acquired by or on behalf of the Issuer after the related Cut-Off Date through foreclosure on the Texas Tax Liens or otherwise.

REO Properties in Section 9.01 and Section 9.02 shall mean, in the context of any [Separately Serviced Mortgage Loan] REO Property, solely the Trust's interest in the [Separately Serviced Mortgage Loan] REO Property.

REO Properties means properties owned by the Seller which were formal collateral to the Mortgage Loans that were foreclosed and which did not sell at auction or which were received as part of a deed in lieu of foreclosure.

REO Properties in Sections 9.01 and 9.02 shall be deemed to include the Trust's rights with respect to any One Lincoln Street REO Property and/or any World Apparel Center REO Property, and such rights shall be taken into account in calculating the purchase price payable under Section 9.01 for the purchase of assets out of the Trust Fund.