Post-Event of Default. Notwithstanding the preceding provisions, if an Event of Default exists, Borrowers shall have no further rights to access any funds on deposit in Borrower Operating Account, and Lender shall have the right to withdraw all funds on deposit in Borrower Operating Account and Waterfall Account and apply such funds as determined by Lender in its sole discretion until all Secured Obligations are paid in full, and any remainder shall be paid to Borrower.
Appears in 3 contracts
Sources: Loan and Security Agreement (Front Yard Residential Corp), Loan and Security Agreement (Altisource Residential Corp), Loan and Security Agreement (Altisource Residential Corp)