Resolved Asset. Any Purchased Asset which is repaid in full, sold, repurchased, liquidated, charged-off, or otherwise disposed of.
Resolved Asset means a Mortgage Loan that (i) is subject to a Third-Party Sale, or (ii) has otherwise been sold, refinanced or prepaid in full or (iii) was subject to a short sale.
Resolved Asset. Any Purchased Asset which is repaid in full, sold, repurchased, liquidated, charged- off, or otherwise disposed of. “Revolving Rebuild BPL Loan”: Any Business Purpose Loan for which future advances are dispersed to or from the Seller to the related Mortgagor following the origination of such loan to rebuild the related Mortgaged Property in accordance with the Servicing Agreement and the Mortgage Loan Documents. “Servicer”: (i) FCI Lender Services, Inc. or (ii) such other entity responsible for servicing of the Purchased Mortgage Loans and that has been approved by Administrative Agent, on behalf of Buyers, in writing, or, in each case, any successor or permitted assigns thereof. “Servicer Notice”: The notice acknowledged by the Servicer that has approved by Administrative Agent in its sole discretion. “Servicer Termination Event”: The occurrence of any of the following conditions or events shall be a Servicer Termination Event: (n) a Servicer fails to service the Eligible Assets subject to Transactions in accordance with the related Servicing Agreement; (o) a Servicer fails to maintain all state and federal licenses necessary to do business in any jurisdiction where Mortgaged Property is located if such license is required, or to be in compliance with any licensing laws of any jurisdiction where Mortgaged Property is located with respect to the Purchased Assets; (p) (i) a Servicer or any of its Subsidiaries or Affiliates shall default under, or fail to perform as required under, or shall otherwise breach the terms of any instrument, agreement or contract between Servicer or such other entity on the one hand, and Administrative Agent, on behalf of Buyers, or any of Administrative Agent’s Affiliates on the other; or (ii) Servicer or any of its Subsidiaries or Affiliates shall default under, or fail to perform as required under, the terms of any repurchase agreement, loan and security agreement or similar credit facility, any agreement for borrowed funds or any other material agreement entered into by Servicer or such other entity and any third party; (q) an Insolvency Event shall have occurred with respect to Servicer or any of its Affiliates or Subsidiaries; or Servicer shall admit in writing its inability to, or intention not to, perform any of its obligations under this Agreement or any of the other Principal Agreements to which it is a party; or Administrative Agent, on behalf of Buyers, shall have determined in good faith that Servicer is unable to mee...
Examples of Resolved Asset in a sentence
Resolved: Asset Register as at 31 March 2016 was approved and noted.
Resolved Asset Operations The original design of the treatment pond has been altered by relocating the off-take pump on the same side as the inlet pump.