Examples of Additional Collateral Mortgage Loan in a sentence
If the Additional Collateral Servicer informs the Trustee that a Required Surety Payment is payable pursuant to the Surety Bond, with respect to any Additional Collateral Mortgage Loan, the Trustee shall promptly complete the notice in the form of Attachment 1 to the Surety Bond and shall return such notice to the Additional Collateral Servicer for submission to the Surety Bond Issuer.
In addition, if an Additional Collateral Mortgage Loan becomes a defaulted Mortgage Loan, Servicer shall make all reasonable efforts to realize upon the Additional Collateral pertaining to such Mortgage Loan, and any proceeds from the realization thereof (and not such Additional Collateral itself) shall be included in the related Liquidation Proceeds and deposited in the Custodial Account, net of any related Servicing Advances.
For good and valuable consideration, receipt of which is hereby acknowledged, Seller hereby sells, transfers, assigns, sets over and conveys to Purchaser without recourse all of Seller's right, title and interest in and to each pledge agreement and control agreement securing any Additional Collateral Mortgage Loan listed on such Final Mortgage Loan Schedule.
Immediately upon the default of any Additional Collateral Mortgage Loan, the Master Servicer shall cause the applicable Servicer to sell any related Additional Collateral for cash and cause such Liquidation Proceeds to be deposited into the Distribution Account.
Further, if such Mortgage Loan is an Additional Collateral Mortgage Loan, Servicer may release a portion of or all of the Additional Collateral related thereto provided that the release of such Additional Collateral is in accordance with the Additional Collateral Pledge Agreement.