Examples of Underlying Collateral in a sentence
The Custodian shall ensure that all Underlying Collateral Documents that are removed from the Custodian’s possession are returned to the Custodian’s possession within the time provided by the applicable Uniform Commercial Code to maintain the Collateral Agent’s perfection.
This obligation to maintain a complete and accurate set of records shall encompass all files in the Custodian and Paying Agent’s custody, possession or control pertaining to the Loans and the Underlying Collateral, including all Custodial Documents.
This Agreement shall terminate upon (a) the first to occur of (i) the final payment or other liquidation of all of the Loans and (ii) disposition of all Underlying Collateral (including any Acquired Property), and (b) the release and delivery to the Company of all Custodial Documents held by or in the possession of the Custodian in accordance with the terms of this Agreement.
Except as is otherwise directed by the Manager, the Servicer or any Subservicer shall not acquire or otherwise cause the Company or any subsidiary or other entity in which the Company owns any interest to acquire all or any portion of any Underlying Collateral having any actual or threatened Environmental Hazard by foreclosure, deed in lieu of foreclosure, power of sale or sale pursuant to the Uniform Commercial Code or otherwise.
Except as otherwise directed by the Manager , the Servicer shall maintain a collection department that substantially complies with the Servicing Standard and protects the Company’s interests in the Loans and the Underlying Collateral in accordance with the Servicing Standard.