Alternative Collateral. The Borrower shall not cause any Eligible Mortgage Loan which is at any time used as collateral for an Advance hereunder to be subsequently used as collateral pursuant to any other financing, note purchase, loan warehouse, repurchase or similar facility maintained by the Borrower with any third party without the express written consent of the Lender, unless such Mortgage Loan is no longer an Eligible Mortgage Loan.
Appears in 2 contracts
Sources: Master Loan and Security Agreement (New York Mortgage Trust Inc), Master Loan and Security Agreement (New York Mortgage Trust Inc)
Alternative Collateral. The Borrower shall not cause or permit any Eligible Mortgage Loan which is at any time used as collateral for an Advance hereunder to be subsequently used as collateral pursuant to any other financing, note purchase, loan warehouse, repurchase or similar facility maintained by the Borrower with any third party without the express written consent of the Lender, unless such Mortgage Loan is no longer an Eligible Mortgage LoanLoan or has otherwise been released by Lender pursuant to Section 4.10 of this Loan Agreement.
Appears in 1 contract
Sources: Master Loan and Security Agreement (American Business Financial Services Inc /De/)