Initial Owners definition

Initial Owners means, with respect to Borrower or any other entity, the persons or entities that (i) on the date of the Note, or (ii) on the date of a Transfer to which Lender has consented, own in the aggregate 100 percent of the ownership interests in Borrower or that entity.

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Initial Owners means, with respect to Borrower or any other entity, the Person(s) that (i) on the date of the Note, or (ii) on the date of a Transfer to which Lender has consented, own in the aggregate 100% of the ownership interests in Borrower or that entity. If Borrower is a nonprofit corporation or association, "Initial Owners" means the Person(s) that (i) on the date of the Note, or (ii) on the date of a Transfer to which Lender has consented, are the members, officers, trustees, or board members (or equivalent designation under the laws of the jurisdiction where Borrower's nonprofit corporation or association was formed) who have or share a Controlling Interest in Borrower.

Initial Owners means, with respect to Borrower or any other entity, the persons or entities that (i) on the date of the Note, or (ii) on the date of a Transfer to which Lender has consented or to which consent is not required, own in the aggregate 100 percent of the ownership interests in Borrower or that entity.

Examples of Initial Owners in a sentence

• Within thirty (30) days of the related Closing Date, the Company shall deliver to the Initial Owner or the Custodian as the Initial Owner's designee, for each Mortgage Loan in the related Mortgage Loan Package, the Collateral File, to the extent not already delivered.

• Pursuant with Article VIII of the Operating Agreement, it is the desire of the LLC that Additional Owners are granted the right to purchase an Economic Interest in the LLC at the same consideration granted to the Initial Owners and; E.

• The Initial Owners entered into an operating agreement governing the operations of the LLC on November 8, 2012, copy attached as Exhibit 1 (hereinafter "Original Operating Agreement") and; B.

• The relevant Initial Owner shall indemnify the Company and hold it harmless against any loss, liability or expense incurred in connection with any claim, demand, defense or assertion based on or grounded upon, or resulting from, a breach of such Initial Owner's representations, warranties and covenants contained in this Section 2.05.

• The Initial Owners have agreed to purchase from time to time from the Company and the Company has agreed to sell to the Initial Owners, on a servicing retained basis and without recourse, pools of adjustable rate Mortgage Loans.

More Definitions of Initial Owners

Initial Owners means, with respect to Borrower or any other entity, the persons or entities who on the date of the Note own the aggregate 100% of the ownership interests in Borrower or that entity.

Initial Owners. REPRESENTATIVE: Doug Schepker ------------------------------ DISBURSEMENT PRIORITY SCH▇▇▇▇▇: ------------------------------ Each fiscal month Manager, on behalf of Owner, shall disburse funds from the Bank Account(s) in the following order of priority and to the extent available:

Initial Owners means any or all of them;

Initial Owners. REPRESENTATIVE: ▇▇▇▇ ▇▇▇▇▇▇▇▇ ------------------------------- DISBURSEMENT PRIORITY SCHEDULE: ------------------------------- Each fiscal month Manager, on behalf of Owner, shall disburse funds from the Bank Account(s) in the following order of priority and to the extent available:

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

Initial Owners means the Owners excluding the Free Lady Owner;

Initial Owners shall have the meaning ascribed to it in the preamble hereto.