Initial Owner definition

Initial Owner. Xxxxxx Brothers Bank, FSB.

Initial Owner or "Owner" as used in the Sale and Servicing Agreement in connection with any rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified

Initial Owner. Xxxxxxx Xxxxx Mortgage Company.

Examples of Initial Owner in a sentence

• The interest of the Owner Participant (or the Initial Owner Participant, as the case may be) under the Trust Agreement.

• The Initial Owner may terminate, at its sole option, any rights the Servicer may have hereunder, without cause, as provided in this Section 11.02.

• The Owner and the Servicer shall comply with the termination procedures set forth in Section 12.01 hereof, provided that, in the event that the Initial Owner terminates this Agreement without cause in accordance with this Section, the Initial Owner shall pay to the Servicer a termination fee equal to two percent (2.0%) of the aggregate unpaid principal balance of the Mortgage Loans as of the termination date.

• The Person to whom on the Delivery Date the Initial Owner Participant shall transfer its Beneficial Interest pursuant to Section 3.02 of the Original Participation Agreement and any successors thereto, and any Person to which the Owner Participant transfers, in accordance with the Trust Agreement, its right, title and interest in and to the Operative Agreements and the Lessor's Estate.

• If the Mortgage is registered with MERS, the Company shall effect a transfer of such Mortgage to the name of the Owner (or other designee as directed by the Initial Owner) as soon as practicable in accordance with MERS requirements.

More Definitions of Initial Owner

Initial Owner. Lehman Brothers Bank, FSB.

Initial Owner or "Owner" as used in the Servicing Agreement in connection with any rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit A hereto. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default as provided in Article IX of the Servicing Agreement. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer assume any of the obligations of the Seller under the Servicing Agreement and in connection with the performance of the Master Servicer's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Trust Agreement.

Initial Owner is defined in the preamble.

Initial Owner means, in relation to each Initial Ship, the owner of that Initial Ship set out in Part 1 of Schedule 2 and “Initial Owners” means all of them;

Initial Owner. Banc of America Mortgage Capital Corporation, a North Carolina corporation.

Initial Owner means any or all of them;

Initial Owner. Fremont Investment & Loan.