Specified Events of Default. An Event of Default pursuant to Section 8.01(l) or 8.01(m) that occurs solely with respect to Borrower’s Affiliates or Subsidiaries shall have no impact on the Freddie Mac Servicing Contract Rights or the Collateral, and while the Lender shall have the right to exercise its rights or remedies pursuant to this Agreement, it shall not exercise its rights under the UCC or the Freddie Mac Acknowledgment Agreement with respect to the Freddie Mac Servicing Contract Rights, the Freddie Mac Servicing Contract or the Collateral as a result of an Event of Default caused that occurs solely with respect to Borrower’s Affiliates or Subsidiaries pursuant to Section 8.01(l) or 8.01(m).
Appears in 3 contracts
Sources: Loan and Security Agreement (Mr. Cooper Group Inc.), Loan and Security Agreement (Mr. Cooper Group Inc.), Loan and Security Agreement (Mr. Cooper Group Inc.)