Contributed REO Properties definition

Contributed REO Properties means the REO Properties converted from HECM Buyout together with the Repurchase Assets related to such REO Properties transferred by Seller to REO Subsidiary or acquired by REO Subsidiary directly in connection with a Transaction under this Agreement, listed on the related Asset Schedule, until the Buyer releases its interest in such Contributed REO Properties in accordance with the terms of this Agreement.
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Examples of Contributed REO Properties in a sentence

  • Without limiting the foregoing, each Seller will comply with all rules, regulations and other laws of any Governmental Authority and cause the Purchased Assets, Contributed Mortgage Loans, Contributed Rental Properties, Contributed REO Properties or the related Repurchase Assets to comply with all applicable rules, regulations and other laws.

  • All Contributed Rental Properties and Contributed REO Properties shall be managed by the Property Manager.

  • Each Seller has adequate financial standing and through the Servicing Agreement with the Servicer, access to servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Contributed Mortgage Loans and Contributed REO Properties and in accordance with Accepted Servicing Practices.

  • Each Seller Party shall not cause the Purchased Assets, Contributed Mortgage Loans, Contributed Rental Properties and Contributed REO Properties to be serviced or managed by any Servicer or Property Manager other than a Servicer or Property Manager expressly approved in writing by Buyer.

  • The amount of consideration being received by Seller upon the transfer of the Contributed REO Properties to REO Subsidiary constitutes reasonably equivalent value and fair consideration for such Contributed REO Properties.

  • Sellers have not selected the Purchased Assets, Contributed Mortgage Loans, Contributed Rental Properties or Contributed REO Properties in a manner so as to adversely affect Buyer’s interests.

  • No Seller Party has selected the Purchased Assets or Contributed REO Properties in a manner so as to adversely affect Buyers’ interests.

  • Sellers shall and shall cause the Servicers to deposit all collections received by the Servicers on the Contributed Mortgage Loans and Contributed REO Properties in the Collection Account.

  • The location where Seller Parties keep their books and records, including all computer tapes and records relating to the Purchased Assets or Contributed REO Properties and the related Repurchase Assets, as applicable, is their chief executive office.

  • Such Seller shall pay the Optional Prepayment and take (or cause its designee to take) physical possession of the Contributed REO Properties, Contributed Rental Properties or Contributed Mortgage Loans, as applicable, from a Seller Party Subsidiary or its designee (including the Custodian) at the related Seller’s expense on the related Optional Prepayment Date.

Related to Contributed REO Properties

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Contributed Property means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.5(d), such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Mortgaged Real Property means any parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Subject Assets is defined in Section 2.2(c).

  • Undepreciated Real Estate Assets as of any date means the cost (original cost plus capital improvements) of real estate assets of the Company and its Subsidiaries on such date, before depreciation and amortization determined on a consolidated basis in accordance with GAAP.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • REO Property A Mortgaged Property acquired by the Trust Fund through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Hotel Property means a Property on which there is located an operating hotel.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • After-Acquired Property means any property (other than Collateral or Excluded Property) that is acquired or otherwise owned by the Company or any Subsidiary after the Issue Date of a type that secures the Secured Obligations.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Project Assets means all physical and other assets relating to and forming part of the Site including:

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Other Properties shall have the meaning set forth in Section 9.1.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and the sale of homes and related real estate activities, including the provision of mortgage financing or title insurance.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.