Warehouse Facility Agent definition
Examples of Warehouse Facility Agent in a sentence
To facilitate the carrying out of the Closed-End Collateral Agent’s duties under this Collateral Agency Agreement, each Warehouse Facility Lender and Warehouse Facility Agent hereby appoints the Deal Agent as its agent and representative to act on its behalf in relation to the Closed-End Collateral Agent and the Closed-End Administrative Agent under this Collateral Agency Agreement, each Collateral Document and the Titling Trust Agreement.
Each Warehouse Facility Agent, each Warehouse Facility Lender, the Closed-End Servicer, the Titling Trust and the Closed-End Collateral Agent each hereby waives the requirement set forth in Section 10.1 of this Closed-End Servicing Agreement that an opinion of counsel with respect to certain U.S. federal tax matters be delivered solely in connection with the execution and delivery of this amendment and restatement of this Closed-End Servicing Agreement.
In the event any Revolving Warehouse Facility Agent (or other Revolving Warehouse Facility Secured Party) provides information to the Closed-End Collateral Agent contrary to the information provided by any other Revolving Warehouse Facility Agent (or other Revolving Warehouse Facility Secured Party) or the Closed-End Servicer, the Closed-End Collateral Agent shall have the right to seek instructions from any court of competent jurisdiction concerning any distribution hereunder.
Each of the CP Facility Agent and CP Lenders hereby agrees that it shall not contest or challenge, or join any other Person in contesting or challenging, the validity, enforceability, priority or perfection of the security interest of the Warehouse Facility Agent and the Warehouse Lenders in the "Collateral" under and as defined in the Warehouse Agreement.
In the event of a Default or Event of Default under the CP Facility, or an Event of Default under the Warehouse Facility, the Servicer agrees, upon the written request of the Warehouse Facility Agent or the CP Facility Agent, as applicable, to notify all Take-Out Investors in writing to redirect their payments to a segregated account identified by the Warehouse Facility Agent (in the case of the Warehouse Facility) or the Collection Account (in the case of the CP Facility).
If the CP Termination Date shall occur prior to the Warehouse Termination Date, then the Collateral Agent shall, from the date of the CP Termination Date, hold the Cash and Collateral Account for the benefit of the Warehouse Facility Agent and the Warehouse Lenders.
PMC hereby pledges, assigns and transfers to the Collateral Agent for the benefit of the Warehouse Facility Agent and Warehouse Lenders, a security interest in PMC's interest in the Cash and Collateral Account.
PMC, an originator of mortgage loans, has entered into a Third Amended and Restated Revolving Credit Agreement, dated as of March 31, 2000, as amended from time to time (the "Warehouse Agreement") with the Warehouse Facility Agent and certain lenders named therein (the "Warehouse Lenders"), pursuant to which the Warehouse Lenders have agreed to make loans to PMC, secured by mortgage loans (the "Warehouse Facility").
Other than as described in the preceding sentence and notwithstanding any other provision of this Agreement, the Collateral Agent shall have no right to take any action in respect of the funds on deposit from time to time in the Cash and Collateral Account other than as authorized by the Warehouse Facility Agent or the CP Facility Agent pursuant to the terms of this Agreement.
As such, each of PMC, PMI, the Collateral Agent, the Warehouse Facility Agent, the CP Facility Agent and the Account Bank hereby agrees that the Account Bank will comply with instructions originated by the Collateral Agent directing the disposition of funds in the Cash and Collateral Account from time to time without further consent of PMC or PFI.