Common use of Initial Receivables Clause in Contracts

Initial Receivables. The Receivables sold and/or contributed by Nationstar, as Receivables Seller, to the Depositor on the Closing Date pursuant to the Receivables Sale Agreement, and further sold and/or contributed by the Depositor to the Issuer on the Closing Date pursuant to the Receivables Pooling Agreement, and Granted by the Issuer to the Indenture Trustee for inclusion in the Trust Estate, and which consist of Receivables arising from (i) the making by the Receivables Seller of Advances with respect to the Designated Servicing Agreements listed on the Designated Servicing Agreement Schedule or (ii) accrued Deferred Servicing Fees with respect to the Designated Servicing Agreements listed on the Designated Servicing Agreement Schedule as of the Closing Date.