Shipment of Collateral Sample Clauses

Shipment of Collateral. Direct the Collateral Agent to deliver Mortgage Loans included in the Warehouse Borrowing Base only to Approved Investors or otherwise consistent with the provisions of the Loan Documents.
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Shipment of Collateral. If no Default, Potential Default, or Borrowing Excess exists and if shipment would not result in any Approved Investor (other than FNMA, FHLMC, and GNMA, or any other investor that Administrative Agent has approved in writing) or its servicers and custodians holding Collateral Documents for Mortgage Loans with more than a total $5,000,000 face amount, then Borrower may, by a Shipping Request delivered to Administrative Agent by 11:00 a.m. on the Business Day of shipment, request Administrative Agent to ship Collateral Documents to an Approved Investor or its servicer or custodian for purchase of the related Mortgage Loans. If Administrative Agent has no actual knowledge that any of the above conditions have not been satisfied, then Administrative Agent shall ship the Collateral Documents it holds for those Mortgage Loans to that Approved Investor or its servicer or custodian under the appropriate Bailee Letter.
Sample 1
Shipment of Collateral. Direct the Custodian to ship Mortgage Loans included in the Warehouse Borrowing Base only to Approved Investors.
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Shipment of Collateral. If no Event of Default, Potential Default, or Borrowing Excess exists, and if shipment would not result in any Investor (other than FNMA, FHLMC, and GNMA, or any other Investor that Administrative Agent has approved in writing), or its servicers and custodians, holding Collateral Documents for Mortgage Loans or Commercial Loans with more than a total $5,000,000 face amount (or $7,500,000 face amount for the first three and last five days of each Calendar Month), then Co-Borrowers may, by a Shipping Request delivered to Administrative Agent by 11:00 a.m. on the Business Day immediately preceding the requested shipping date, request Administrative Agent to ship Collateral Documents to an Investor, or its servicer or custodian, for purchase of the related Mortgage Loans or Commercial Loans; provided that such limitations shall not apply to shipment of Collateral Documents in connection with the securitization of the related Mortgage Loans or Commercial Loans. If Administrative Agent has no actual knowledge that any of the above conditions have not been satisfied, then Administrative Agent shall use its best efforts to ship the Collateral Documents it holds for those Mortgage Loans or Commercial Loans to that Investor, or its servicer or custodian, under an appropriate Bailee Letter by the end of the Business Day following the date of receipt of the applicable Shipping Request.
Sample 1
Shipment of Collateral. If no Event of Default, Potential Default, or Borrowing Excess exists, and if shipment would not result in any investor (other than FNMA, FHLMC, and GNMA, or any other investor that Administrative Agent has approved in writing), or its servicers and custodians, holding Collateral Documents for Mortgage Loans, Commercial Loans, or Leases with more than a total $1,000,000 face amount, then Co-Borrowers may, by a Shipping Request Credit Agreement delivered to Administrative Agent by 11:00 a.m. on the Business Day immediately preceding the requested shipping date, request Administrative Agent to ship Collateral Documents to an investor, or its servicer or custodian, for purchase of the related Mortgage Loans, Commercial Loans, or Leases. If Administrative Agent has no actual knowledge that any of the above conditions have not been satisfied, then Administrative Agent shall use its best efforts to ship the Collateral Documents it holds for those Mortgage Loans, Commercial Loans or Leases to that investor, or its servicer or custodian, under an appropriate Bailee Letter by the end of the Business Day following the date of receipt of the applicable Shipping Request.
Sample 1
Shipment of Collateral. If no Event of Default, Potential Default, or Borrowing Excess exists, and if shipment would not result in any Tier 2 Approved Investor (OTHER THAN FNMA, FHLMC, and GNMA, or any other investor that Administrative Agent has approved in WRITING), OR its servicers and custodians, holding Collateral Documents for Mortgage Loans with more than a total $2,500,000 face amount (other than, as approved in writing by Administrative agent on a case by case basis, FNMA, FHLMC, GNMA, and non-agency bulk sales), then Borrower may, by a Shipping Request delivered to Administrative Agent by 11:00 a.m. on the Business Day immediately preceding the requested shipping date, request Administrative Agent to ship Collateral Documents to an Approved Investor, or its servicer or custodian, for purchase of the related Mortgage Loans. If Administrative Agent has no actual knowledge that any of the above conditions have not been satisfied, then Administrative Agent shall use its best efforts to ship the Collateral Documents it holds for those Mortgage Loans to that Approved Investor, or its servicer or custodian, under an appropriate Bailee Letter by the end of the Business Day following the date of receipt of the applicable Shipping Request.
Sample 1
Shipment of Collateral. If no Default, Potential Default, or ---------------------- Borrowing Excess exists and if shipment would not result in any Approved Investor (other than FNMA, FHLMC, and GNMA, or any other investor that Agent has approved in writing) or its servicers and custodians holding Collateral Documents for Mortgage Loans with more than a total $2,500,000 face amount, then Borrower may (by a Shipping Request delivered to Agent by 11:00 a.m. on the Business Day immediately preceding the requested shipping date) request Agent to ship Collateral Documents to an Approved Investor or its servicer or custodian for purchase or pooling of the related Mortgage Loans. If Agent has no actual knowledge that any of the above conditions have not been satisfied, then Agent shall use its best efforts to ship the Collateral Documents it holds for those Mortgage Loans to that Approved Investor or its servicer or custodian under the appropriate Bailee Letter by the end of the Business Day following the date of receipt of the applicable Shipping Request.
Sample 1
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Shipment of Collateral. 10(p) Compliance with Lending Regulations...............................
Sample 1

Related to Shipment of Collateral

  • Management of Collateral Subject to the other terms and conditions of this Agreement, each Priority Secured Creditor shall have the exclusive right to manage, perform and enforce the terms of the applicable Obligation Documents with respect to its Priority Collateral, to exercise and enforce all privileges and rights thereunder according to its sole discretion and the exercise of its sole business judgment, including the exclusive right to take or retake control or possession of such Priority Collateral and to hold, prepare for sale, process, Dispose of, or liquidate such Priority Collateral and to incur expenses in connection with such Disposition and to exercise all the rights and remedies of a secured lender under the UCC of any applicable jurisdiction. In conducting any public or private sale under the UCC of its Priority Collateral, the Priority Secured Creditor shall give the Junior Secured Creditor such notice (a “UCC Notice”) of such sale as may be required by the applicable UCC; provided, however, that 10 days’ notice shall be deemed to be commercially reasonable notice. Except as specifically provided in this Section 3.2 or Section 3.4 below, notwithstanding any rights or remedies available to a Junior Secured Creditor under any of the applicable Obligation Documents, applicable law or otherwise, no Junior Secured Creditor shall, directly or indirectly, take any Enforcement Action with respect to Collateral that, as to such Junior Secured Creditor, is Non-Priority Collateral; provided that, subject at all times to the provisions of Section 2, upon the expiration of the applicable Standstill Period, a Junior Secured Creditor (other than any Existing Notes Creditor) may take any Enforcement Action as to such Collateral (provided that it gives the Priority Secured Creditor at least 10 Business Days written notice prior to taking such Enforcement Action); provided, further, that notwithstanding the expiration of the Standstill Period or anything herein to the contrary, in no event shall any Junior Secured Creditor take any Enforcement Action or exercise or continue to exercise any such rights or remedies, or commence or petition for any such action or proceeding (including any foreclosure action or proceeding or any Insolvency Proceeding) as to its Non-Priority Collateral if either (i) an Insolvency Proceeding occurs and is continuing or (ii) the Priority Secured Creditor shall have commenced the enforcement or exercise of any rights or remedies with respect to more than a de minimis portion of such Non-Priority Collateral, or with respect to any of such Non-Priority Collateral as to which the Junior Secured Creditor has commenced an Enforcement Action, as applicable, or commenced any such action or proceeding (including, without limitation, any of the following (if undertaken and pursued to consummate a Disposition of such Collateral within a commercially reasonable time): the solicitation of bids from third parties to conduct the liquidation of all or any material portion of such Collateral, the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, auctioneers or other third parties for the purpose of valuing, marketing, promoting or selling all or any material portion of such Collateral, the notification of account debtors to make payments to the Priority Secured Creditor or its agents, the initiation of any action to take possession of all or any material portion of such Collateral or the commencement of any legal proceedings or actions against or with respect to the foreclosure and sale of all or any material portion of such Collateral), or the diligent attempt in good faith to vacate any stay prohibiting an Enforcement Action with respect to all or any material portion of such Collateral or diligently attempting in good faith to vacate any stay prohibiting an Enforcement Action.

  • Maintenance of Collateral Borrower will maintain the Collateral in good working condition, and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon in writing of any material loss or damage to the Collateral.

  • Proceeds of Collateral Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.

  • Inspection of Collateral Lender and Lender's designated representatives and agents shall have the right at all reasonable times to examine and inspect the Collateral wherever located.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Impairment of Collateral Not use any material portion of the Collateral, or permit the same to be used, for any unlawful purpose, in any manner that is reasonably likely to materially adversely impair the value or usefulness of the Collateral, or in any manner inconsistent with the provisions or requirements of any policy of insurance thereon nor affix or install any accessories, equipment, or device on the Collateral or on any component thereof if such addition will materially impair the original intended function or use of the Collateral or such component.

  • Loss of Collateral There occurs any uninsured loss to any material portion of the Collateral; or

  • Assignment of Collateral There is no material collateral securing any Mortgage Loan that has not been assigned to the Purchaser.

  • Assembly of Collateral Assemble and make available to the Administrative Agent the Collateral and all records relating thereto at any place or places specified by the Administrative Agent.

  • Types of Collateral None of the Collateral consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or standing timber.

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