Maximum Dwell Time definition

Maximum Dwell Time. The maximum number of days a Purchased Mortgage Loan can be not repurchased by Seller before such Purchased Mortgage Loan may be deemed to be a Noncompliant Mortgage Loan and with respect to a Noncompliant Mortgage Loan, the maximum number of days that a Purchased Mortgage Loan can be deemed to be a Noncompliant Mortgage Loan before such Noncompliant Mortgage Loan may be deemed to be a Defective Mortgage Loan, all as set forth in the Transactions Terms Letter.

Maximum Dwell Time. For any Purchased Asset that is not a Defective Asset, the maximum number of days such Purchased Asset can be not repurchased by Seller before such Purchased Asset may be deemed to be a Defective Asset, as set forth in the Transactions Terms Letter.

Maximum Dwell Time. With respect to Tranches A through I, the maximum number of days a Pledged Mortgage Loan can be pledged as Collateral against an Advance before such Pledged Mortgage Loan may be deemed to be a Noncompliant Mortgage Loan and with respect to Tranche J, the maximum number of days that a Pledged Mortgage Loan can be deemed to be a Noncompliant Mortgage Loan, all as set forth in the Commitment Letter.

Examples of Maximum Dwell Time in a sentence

• With respect to a Transaction the subject of which is a Wet Mortgage Loan, Seller shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the related Mortgage Loan Documents within the Wet Mortgage Loans Maximum Dwell Time.

• As of any date of determination, a Purchased Asset that has been subject to a Transaction for less than the applicable Maximum Dwell Time and that is not a Noncompliant Asset or a Defective Asset.

• As of any date of determination, the Purchased Mortgage Loan has been subject to a Transaction for less than the Maximum Dwell Time and is not a Noncompliant Mortgage Loan or a Defective Mortgage Loan.

• With respect to Dry Mortgage Loans, on or before each Purchase Date and, with respect to Wet Mortgage Loans, within the related Maximum Dwell Time, Guarantor shall deliver to Custodian all related Mortgage Loan Documents and cause the related Trust Receipt to be delivered to Buyer, in each case as required under the Custodial and Disbursement Agreement.

• With respect to a Transaction the subject of which is a Wet Mortgage Loan, (i) Seller shall deliver to Buyer or its Custodian any Mortgage Loan Documents in Seller’s possession, and (ii) Seller shall authorize and direct the Closing Agent to deliver the related Mortgage Loan Documents to Seller, for delivery to Buyer or its Custodian, in each case, within the Maximum Dwell Time in accordance with the terms of Section 7.2 hereof, Exhibit B hereof and the Custodial Agreement.

More Definitions of Maximum Dwell Time

Maximum Dwell Time means, for any Wet-Ink Mortgage Loan (if applicable), seven (7) calendar days from the related Purchase Date.

Maximum Dwell Time. With respect to each Eligible Asset, the number of days set forth on Schedule 1 under the heading “Maximum Dwell Time.” Nationstar Mortgage LLC January 30, 2013 Page 6

Maximum Dwell Time means with respect to Tranches A through I, the maximum number of days a Purchased Mortgage Loan does not have to be repurchased by Seller until such Purchased Mortgage Loan is deemed to be a Noncompliant Mortgage Loan and with respect to Tranche J, the maximum number of days that a Purchased Mortgage Loan can be deemed to be a Noncompliant Mortgage Loan, all as set forth in the Commitment Letter.

Maximum Dwell Time. For any Purchased Asset that is not a Defective Asset, the maximum number of days such Purchased Asset is not repurchased by Seller before such Purchased Asset may be deemed to be a Defective Asset, as set forth in the Transactions Terms Letter. “Minimum Maintenance Amount”: With respect to the Purchased Assets as of the close of business on any date of determination, the aggregate Asset Value of all Purchased Assets as of such date of determination. “Moody’s”: Xxxxx’x Investors Service, Inc. or any successor thereto. “Mortgage”: A mortgage, deed of trust, security deed or similar instrument on improved real property (including for the avoidance of doubt any proprietary lease or cooperative shares in connection with cooperative loans).

Maximum Dwell Time. As defined in the Repurchase Agreement. “Mortgage”: A mortgage, deed of trust, security deed or similar instrument on improved real property (including for the avoidance of doubt any proprietary lease or cooperative shares in connection with cooperative loans). “Mortgage Loan”: Any mortgage loan of a Type identified on any schedule attached to the Transactions Terms Letter, which Mortgage Loan may be either a Dry Mortgage Loan or a Wet Mortgage Loan. “Mortgage Loan Documents”: As defined in the Repurchase Agreement. “Mortgage Loan File”: With respect to each Mortgage Loan, that file that contains the Mortgage Loan Documents and is delivered to Custodian pursuant to the Repurchase Agreement or to the Custodial Agreement, as applicable. “Mortgage Loan Sale Proceeds”: The proceeds of any sale, securitization or other disposition of any of the Purchased Assets. “Mortgage Note”: A promissory note secured by a Mortgage and evidencing a Mortgage Loan. “Mortgaged Property”: The real property (or other collateral relating to cooperative loans) securing repayment of the debt evidenced by a Mortgage Note. “Mortgagor”: The obligor of a Mortgage Loan. “Other Mortgage Loan Documents”: In addition to the Mortgage Loan Documents, with respect to any Mortgage Loan, and as applicable, the following: (a) the original recorded Mortgage, if not included in

Maximum Dwell Time. The maximum number of days an Underlying Asset can be not repurchased by Seller before such Underlying Asset may be deemed to be a Noncompliant Mortgage Loan and with respect to a Noncompliant Mortgage Loan, the maximum number of days that an Underlying Asset can be deemed to be a Noncompliant Mortgage Loan before such Noncompliant Mortgage Loan may be deemed to be a Defective Mortgage Loan, all as set forth in the Transactions Terms Letter.

Maximum Dwell Time. The maximum number of days an Underlying Asset can be not repurchased by Seller before such Underlying Asset may be deemed to be a Noncompliant Asset and with respect to a Noncompliant Asset, the maximum number of days that an Underlying Asset can be deemed to be a Noncompliant Asset before such Noncompliant Asset may be deemed to be a Defective Asset, all as set forth in the Transactions Terms Letter.