Retitling of Land Home Contracts Sample Clauses

Retitling of Land Home Contracts. If the Contract Seller or the Servicer receives actual notice or knowledge that GreenPoint Bank, the parent of the Contract Seller, is no longer assigned a long-term senior debt rating from Xxxxx'x of Baa3 or higher, of BBB- or higher from S&P, the Servicer shall promptly provide notice to the Trustee that GreenPoint Bank no longer has such rating. If at any time during the term of this Agreement the Trustee receives written notice from the Servicer or the Contract Seller that GreenPoint Bank does not have a long-term senior debt rating from Xxxxx'x of Baa3 or higher, of BBB- or higher from S&P, or if the Trustee otherwise becomes aware that the Contract Seller is no longer assigned such rating, the Trustee, at the Contract Seller's expense, shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust Fund of each Mortgage securing a Land Home Contract sold by the Contract Seller to the Trust Fund.
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Retitling of Land Home Contracts. (a) If the Contract Seller or the Servicer receives actual notice or knowledge that GreenPoint Bank, the parent of the Contract Seller, is no longer assigned a long-term senior debt rating from Xxxxx'x of Baa3 or higher, of BBB- or higher from S&P, the Servicer shall promptly provide notice to the Purchaser and the Indenture Trustee that GreenPoint Bank no longer has such rating. If at any time during the term of this Agreement the Indenture Trustee receives written notice from the Servicer or the Contract Seller that GreenPoint Bank does not have a long-term senior debt rating from Xxxxx'x of Baa3 or higher, of BBB- or higher from S&P, or if the Indenture Trustee otherwise becomes aware that the Contract Seller is no longer assigned such rating, the Indenture Trustee, at the Contract Seller's expense, shall file promptly in the appropriate recording offices the assignments to the Indenture Trustee of each Mortgage securing a Land Home Contract sold by the Contract Seller to the Purchaser and pledged to the Trust Fund.
Sample 1
Retitling of Land Home Contracts. (a) If the Servicer receives actual notice or knowledge that GreenPoint Bank, the parent of the Originator and the Servicer, is no longer assigned a long-term senior debt rating from Moody's of Baa3 or higher, of BBB- xx xxxher from S&P, the Servicer shall promptly provide notice to the Trustee, the Certificate Insurer and the Depositor that GreenPoint Bank no longer has such rating. If at any time during the term of this Agreement the Trustee receives written notice from the Servicer that GreenPoint Bank does not have a long-term senior debt rating from Moody's of Baa3 or higher, of BBB- xx xxxher from S&P, or if the Trustee otherwise becomes aware that the Servicer is no longer assigned such rating, the Trustee, at the Servicer's expense, shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust Fund of each Mortgage securing a Land Home Contract sold by the Depositor to the Trust Fund; provided, however, if the Servicer is unable or unwilling to bear such expense of recordation of assignments, then the Trustee shall be entitled to record such Assignments or engage a third-party vendor to record such Assignment and, in any event, any expense incurred by the Trustee hereunder shall be reimbursable as an Extraordinary Trust Fund Expense.
Sample 1
Retitling of Land Home Contracts. If the Servicer receives actual notice or knowledge that the Servicer is no longer assigned a long-term senior debt rating from Xxxxx'x of Baa3 or higher, or an equivalent rating from any nationally recognized statistical rating organization, the Servicer shall promptly provide notice to the Trustee that it no longer has such rating. If at any time during the term of this Agreement the Trustee receives written notice from the Servicer that the Company does not have a long-term senior debt rating from Xxxxx'x of Baa3 or higher, or an equivalent rating from any nationally recognized statistical rating organization, or if the Trustee otherwise becomes aware that the Servicer is no longer assigned such rating, the Trustee, at the Contract Seller's expense, shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust Fund of each Mortgage securing a Land Home Contract. ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS
Sample 1
Retitling of Land Home Contracts. If the Servicer receives actual notice or knowledge that the Servicer is no longer assigned a long-term senior debt rating from Xxxxx'x of Baa3 or higher, or an equivalent rating from any nationally recognized statistical rating organization, the Servicer shall promptly provide notice to the Trustee that it no longer has such rating. If at any time during the term of this Agreement the Trustee receives written notice from the Servicer that the Company does not have a long-term senior debt rating from Xxxxx'x of Baa3 or higher, or an equivalent rating from any nationally recognized statistical rating organization, or if the Trustee otherwise becomes aware that the Servicer is no longer assigned such rating, the Trustee, at the Contract Seller's expense, shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust Fund of each Mortgage securing a Land Home Contract.
Sample 1
Retitling of Land Home Contracts. (a) If the Contract Seller or the Servicer receives actual notice or knowledge that GreenPoint Bank, the parent of the Contract Seller, is no longer assigned a long-term senior debt rating from (i) Xxxxx'x of Baa3 or higher and from S&P of BBB or higher while the Group II Certificates are outstanding or (ii) S&P and Fitch of BBB (or, in the case of Fitch, investment grade by Duff and Xxxxxx) or higher while the Group I Certificates are outstanding, the Servicer shall promptly provide notice to the Trustee that GreenPoint Bank no longer has such rating. If at any time during the term of this Agreement the Trustee receives written notice from the Servicer or the Contract Seller that GreenPoint Bank does not have a long-term senior debt rating from (i) Xxxxx'x of Baa3 or higher and from S&P of BBB or higher while the Group II Certificates are outstanding or (ii) S&P and Fitch of BBB (or, in the case of Fitch, investment grade by Duff and Xxxxxx) or higher while the Group I Certificates are outstanding, or if the Trustee otherwise becomes aware that the Contract Seller is no longer assigned such rating, the Trustee, at the Contract Seller's expense, shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust Fund of each Mortgage securing a Land Home Contract with respect to Group I or Group II, as applicable.
Sample 1

Related to Retitling of Land Home Contracts

  • Equipment; Leasehold (a) All material items of equipment and other tangible assets owned by or leased to the Company are adequate for the uses to which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of the Company's business in the manner in which such business is currently being conducted.

  • Leases and Rent Roll To Borrower’s actual knowledge, Borrower has delivered to Lender a true, correct and complete rent roll for the Property (a “Rent Roll”) which includes all Leases affecting the Property (including schedules for all executed Leases for Tenants not yet in occupancy or under which the rent commencement date has not occurred). To Borrower’s actual knowledge, except as set forth in the Rent Roll (as same has been updated by written notice thereof to Lender) and estoppel certificates delivered to Lender on or prior to the Closing Date: (a) each Lease is in full force and effect; (b) the premises demised under the Leases have been completed and the Tenants under the Leases have accepted possession of and are in occupancy of all of their respective demised premises; (c) the Tenants under the Leases have commenced the payment of rent under the Leases and there are no offsets, claims or defenses to the enforcement thereof, and Borrower has no monetary obligations to any Tenant under any Lease; (d) all Rents due and payable under the Leases have been paid and no portion thereof has been paid for any period more than thirty (30) days in advance; (e) the rent payable under each Lease is the amount of fixed rent set forth in the Rent Roll and there is no claim or basis for a claim by the Tenant thereunder for an offset or adjustment to the rent; (f) no Tenant has made any written claim of a material default against the landlord under any Lease which remains outstanding nor has Borrower or Manager received, by in-person, or e-mail (with respect to Major Leases only) communication to an authorized representative of Borrower or Manager, any notice of a material default under any Lease; (g) there is no present material default by the Tenant under any Lease; (h) all security deposits under the Leases have been collected by Borrower; (i) Borrower is the sole owner of the entire landlord’s interest in each Lease; (j) each Lease is the valid, binding and enforceable obligation of Borrower and the applicable Tenant thereunder and there are no agreements with the Tenants under the Leases other than as expressly set forth in the Leases; (k) no Person has any possessory interest in, or right to occupy, the Property or any portion thereof except under the terms of a Lease; (l) none of the Leases contains any option or offer to purchase or right of first refusal to purchase the Property or any part thereof; (m) neither the Leases nor the Rents have been assigned, pledged or hypothecated except to Lender, and no other Person has any interest therein except the Tenants thereunder; and (n) no conditions exist which now give any Tenant or party the right to “go dark” pursuant to the provision of its Lease, if applicable.

  • Leases and Contracts Schedule 8(f) is a list of all Leases and Contracts relating to the Facility to which Seller is a party or by which Seller may be bound. Seller has made or will promptly make available to Buyer true, complete and accurate copies of all Leases and Contracts including, without limitation, any modifications thereto. All of the Leases and Contracts are in full force and effect without claim of material default there under, and, except as may be set forth on Schedule 8(f).

  • Real Property Interests Except for the ownership, leasehold or other interests set forth in the Information Certificate, no Credit Party has, as of the Closing Date, any ownership, leasehold or other interest in real property.

  • Tax Service Contract; Flood Certification Contract Each Mortgage Loan is covered by a paid in full, life of loan, tax service contract and a paid in full, life of loan, flood certification contract and each of these contracts is assignable to the Purchaser;

  • Mortgaged Property Undamaged The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended;

  • Equipment and Property A. The Grantee must ensure equipment with a per-unit cost of $5,000 or greater purchased with grant funds under this award is used solely for the purpose of this Grant or is properly pro-rated for use under this Grant. Grantee must have control systems to prevent loss, damage, or theft of property funded under this Grant. Grantee shall maintain equipment management and inventory procedures for equipment, whether acquired in part or whole with grant funds, until disposition occurs.

  • Personal Property Leases Schedule 5.10 contains, as of the date of this Agreement, a list of each lease or other agreement or right under which the Company or any of the Subsidiaries is lessee of, or holds or operates, any machinery, equipment, vehicle or other tangible personal property owned by a third Person, except those which are terminable by the Company or such Subsidiary without penalty on 90 days’ or less notice or which provide for annual rental payments of less than $250,000.

  • Real Property; Leasehold Neither the Company nor any of its Subsidiaries owns or has ever owned any real property. The Company has made available to Parent (a) an accurate and complete list of all real properties with respect to which the Company directly or indirectly holds a valid leasehold interest as well as any other real estate that is in the possession of or leased by the Company or any of its Subsidiaries, and (b) copies of all leases under which any such real property is possessed (the “Company Real Estate Leases”), each of which is in full force and effect, with no existing material default thereunder. The Company’s use and operation of each such leased property conforms to all applicable Laws in all material respects, and the Company has exclusive possession of each such leased property and has not granted any occupancy rights to tenants or licensees with respect to such leased property. In addition, each such leased property is free and clear of all Encumbrances other than Permitted Encumbrances. The Company has not received written notice from its landlords or any Governmental Body that: (i) relates to violations of building, zoning, safety or fire ordinances or regulations; (ii) claims any defect or deficiency with respect to any of such properties; or (iii) requests the performance of any repairs, alterations or other work to such properties.

  • PURCHASE OF EQUIPMENT AND PERSONAL PROPERTY For valuable consideration, the sum of $1.00, receipt of which is acknowledged, Xxxxxx agrees to quitclaim, transfer, sell, waive and release any interest it has or may have, including as the beneficiary of any trust interest created by the provisions of The Book of Discipline of The United Methodist Church, and Xxxxx agrees to accept all of Seller’s title and interest, if any, in and to all of the properties and assets held by Xxxxxx United Methodist Church and relating to the Conference’s claim for itself, or on behalf of The United Methodist Church, of any beneficial right of any kind, including all proprietary rights and privileges of any kind or nature, whether arising by operation of law, trust, contract, property or other means to all tangible personal property owned as of the date of this Bill of Sale in the name of Xxxxxx United Methodist Church (including, without limitation, cash, bank accounts, accounts and notes receivable, deposits, prepaid items, contents, furnishings, equipment, tools, furniture, leasehold improvements, computer software, permits, licenses, authorizations, books, records, papers, securities, funds, goodwill, contracts, and other intangibles (hereinafter collectively, the "Personal Property") on the terms and conditions set forth in this Bill of Sale.

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