Pledge of Mortgage Loans. Except for Mortgage Loans pledged to the lenders described in Exhibit "B", pledge or grant a security interest in any existing or future Mortgage Loans acquired by the Company other than to the Lender except as otherwise expressly permitted in this Agreement; provided, however, that if no Default or Event of Default has occurred and is continuing, servicing on individual Mortgage Loans may be sold concurrently with and incidental to the sale of such Mortgage Loans (with servicing released) in the ordinary course of the Company's business.
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Samples: Warehousing Credit and Security Agreement (Mortgage Com Inc), Warehousing Credit and Security Agreement (Mortgage Com Inc)
Pledge of Mortgage Loans. Except for Mortgage Loans pledged to the lenders described in Exhibit EXHIBIT "B", pledge or grant a security interest in any existing or future Mortgage Loans acquired by the Company other than to the Lender except as otherwise expressly permitted in this Agreement; provided, however, that if no Default or Event of Default has occurred and is continuing, servicing on individual Mortgage Loans may be sold concurrently with and incidental to the sale of such Mortgage Loans (with servicing released) in the ordinary course of the Company's business.
Appears in 2 contracts
Samples: Warehousing Credit and Security Agreement (BNC Mortgage Inc), Warehousing Credit and Security Agreement (E Loan Inc)
Pledge of Mortgage Loans. Except for Mortgage Loans pledged to the lenders described in Exhibit "B"B (or replacements for such lenders), pledge or grant a security interest in any existing or future Mortgage Loans acquired by the Company other than to the Lender except as otherwise expressly permitted in this Agreement; provided, however, that if no Default or Event of Default has occurred and is continuing, servicing on individual Mortgage Loans may be sold concurrently with and incidental to the sale of such Mortgage Loans (with servicing released) in the ordinary course of the Company's business.
Appears in 1 contract
Samples: Credit and Security Agreement (First NLC Financial Services Inc)
Pledge of Mortgage Loans. Except for Mortgage Loans pledged to the ------------------------ lenders described in Exhibit "B", pledge or grant a security interest in any ----------- existing or future Mortgage Loans acquired by the Company other than to the Lender except as otherwise expressly permitted in this Agreement; provided, however, that if no Default or Event of Default has occurred and is continuing, servicing on individual Mortgage Loans may be sold concurrently with and incidental to the sale of such Mortgage Loans (with servicing released) in the ordinary course of the Company's business.
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