Examples of Deleted Home Loan in a sentence
The Indenture Trustee will be entitled to all payments received on the Deleted Home Loan on or before the date of substitution and the Transferor shall thereafter be entitled to retain all amounts subsequently received in respect of such Deleted Home Loan.
As to any Deleted Home Loan for which the Transferor substitutes a Qualified Substitute Home Loan(s), the Transferor shall effect such substitution by delivering to the Indenture Trustee, the Master Servicer and Owner Trustee (i) a certification executed by a Responsible Officer of the Transferor to the effect that the Substitution Adjustment has been credited to the Collection Account and (ii) the documents constituting the Indenture Trustee's Home Loan File for such Qualified Substitute Home Loan(s).
In connection with a repurchase or substitution of any Home Loan pursuant to this Section 3.05, the Master Servicer shall cause the Servicer shall amend the Home Loan Schedule to reflect (i) the removal of the applicable Deleted Home Loan from the terms of this Agreement, and (ii) if applicable, the substitution of the applicable Qualified Substitute Home Loan.
As to any Deleted Home Loan for which the Transferor substitutes a Qualified Substitute Home Loan(s), the Transferor shall effect such substitution by delivering to the Indenture Trustee, the Master Servicer and Grantor Trustee (i) a certification executed by a Responsible Officer of the Transferor to the effect that the Substitution Adjustment has been credited to the Collection Account and (ii) the documents constituting the Grantor Trustee's Home Loan File for such Qualified Substitute Home Loan(s).
In connection with a repurchase or substitution of any Home Loan pursuant to this Section 3.05, the Servicer shall amend the Home Loan Schedule to reflect (i) the removal of the applicable Deleted Home Loan from the terms of this Agreement, and (ii) if applicable, the substitution of the applicable Qualified Substitute Home Loan.
For the month of substitution, distributions to the Payment Account pursuant to the Servicing Agreement will include the Monthly Payment due on a Deleted Home Loan for such month and thereafter the Seller shall be entitled to retain all amounts received in respect of such Deleted Home Loan.
As to any Deleted Home Loan for which the Transferor substitutes a Qualified Substitute Home Loan(s), the Transferor shall effect such substitution by delivering to the Indenture Trustee, the Master Servicer and Owner Trustee (i) a certification executed by a Responsible Officer of the Transferor to the effect that the Substitution Adjustment has been credited to the Collection Account and (ii) the documents constituting the Indenture Trustee’s Home Loan File for such Qualified Substitute Home Loan(s).
In addition to the preceding repurchase obligations, each of the Transferors and the Servicer shall have the option, exercisable in its sole discretion at any time, to repurchase from the Grantor Trustee any Defaulted Home Loan (in which case such Defaulted Home Loan shall become a Deleted Home Loan); PROVIDED, HOWEVER, that any such repurchase of a Defaulted Home Loan pursuant to this Subsection shall be conducted in the same manner as the repurchase of a Defective Home Loan pursuant to this SECTION 3.05.
The Grantor Trustee will be entitled to all payments received on the Deleted Home Loan on or before the date of substitution and the applicable Transferor shall thereafter be entitled to retain all amounts subsequently received in respect of such Deleted Home Loan.
The Seller shall give written notice to the Issuer, the Servicer (if the Seller is not then acting as such), the Indenture Trustee and the Note Insurer that a repurchase or substitution has taken place and shall amend the Home Loan Schedule to reflect (i) the removal of the applicable Deleted Home Loan from the terms of this Agreement and (ii) if applicable, the substitution of the Qualified Substitute Home Loan.