Collateral Receipt definition
Examples of Collateral Receipt in a sentence
If any Collateral Receipt discloses any deficiencies (a “Deficiency”) in any of the Required Loan Files, the Trustee shall promptly notify the Administrative Agent and the Servicer of such Deficiency and provide them with an exception report specifying the Loans which have a Deficiency and the Review Criteria that they fail to satisfy.
If any Collateral Receipt discloses any deficiencies (a “Deficiency”) in any of the Required Receivable Files, the Collateral Custodian shall promptly notify the Administrative Agent and the Servicer of such Deficiency and provide them with an exception report specifying the Receivables which have a Deficiency and the Review Criteria that they fail to satisfy.
In accordance with the terms of the Custodial Agreement, the Borrower has delivered, or caused to be delivered, to the Custodian, the related Receivable File and the Collateral Agent has received a Collateral Receipt and Exception Report from the Custodian, which Collateral Receipt and Exception Report is acceptable to the Collateral Agent in its sole discretion.
If a Collateral Receipt does not occur by the Scheduled Collateral Receipt Date Purchaser may elect a remedy pursuant to Section 7 including, without limitation, the application of an Incremental Pass-Through Rate.
The Agent shall have received a Collateral Receipt and Confirmation in respect of each Receivable identified on the Schedule of Receivables attached to the related Advance Request.