Eligible Receivables Collateral definition
Eligible Receivables Collateral means Eligible P&I Advances Collateral and Eligible Servicing Receivable Advances Collateral, consisting of Eligible T&I Advances Collateral and Eligible Enforcement Advances Collateral.
Eligible Receivables Collateral. , which means an account or payment intangible (an "Interest Receivable") owned by a Company and produced by the Company's making a Periodic Advance: o that is due and payable to the Company, and for which the Company has no actual knowledge that the full amount will not be collectible; o that the debtor(s) under the related Mortgage(s) are already obligated to pay to (or to the order of) the holder of that Mortgage Loan (or its servicer) when the related (producing) Periodic Advance is made;
Eligible Receivables Collateral. Eligible REO Collateral", "Eligible Repurchased Collateral", "Eligible Single-family Collateral", "Eligible Subprime Single-family Collateral" and "Eligible Working Capital Collateral", are defined on Schedule EC.
Examples of Eligible Receivables Collateral in a sentence
The Companies may request Borrowings and may use proceeds of Borrowings only (a) to fund or acquire Eligible Single-family Collateral concurrently Pledged to the Agent, (b) to fund Periodic Advances that produce Eligible Receivables Collateral, (c) to repurchase Repurchased Defaulted Mortgage Loans, (d) to finance Eligible REO Collateral and (e) to fund the Companies' working capital needs.
More Definitions of Eligible Receivables Collateral
Eligible Receivables Collateral means all Collateral described in Section 1.1(b), together with all General Intangibles and Proceeds relating thereto.