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Common use of Second Lien Clause in Contracts

Second Lien. None of the Mortgage Loans are second lien Mortgage Loans.

Appears in 2 contracts

Sources: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

Related Clauses

  • Valid First Lien
  • First Lien Status
  • DIP Financing
  • Priority Debt
  • Lien Releases; Care of Collateral

Parent Clauses

  • Conditions Precedent
  • REPRESENTATION
  • Affirmative Covenants
  • Replacement of a Lender
  • Non-consenting Lenders

Sub-Clauses

  • Transfer
  • WAIVER AND AMENDMENT
  • ILLEGALITY
  • COMPLIANCE WITH SECURITIES LAWS
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