MLBUSA definition
Examples of MLBUSA in a sentence
For purposes of this AAR Agreement only, MLBUSA assigns its right, title and interest in, to and under the Warranty ▇▇▇▇ of Sale to Assignor.
MLBUSA hereby agrees to indemnify and hold harmless Custodian, its officers, directors, employees and agents, and any Investment Manager or Agent, against claims, liabilities and expenses arising out of Custodian’s compliance with instructions from MLBUSA with respect to the Account (including reasonable attorneys’ fees), except if such claims, liabilities or expenses are caused by Custodian’s gross negligence or willful misconduct.
MLCC agrees to assist and cooperate with PHH in entering into either of such agreements with MLBUSA.
Custodian will not be liable to Pledgor for complying with a Notice of Exclusive Control or any instructions from MLBUSA.
Custodian has no duty to investigate whether MLBUSA is authorized under the Security Agreement to give any instruction or Notice of Exclusive Control.
If there is an Investment Manager or Agent with respect to an Account, MLBUSA agrees that assets in the Account are subject to Pledgor’s agreement with the Investment Manager or Agent and that the periodic payment of normal advisory and service fees from assets in the Account pursuant to such an agreement is permitted without the consent of MLBUSA.
A successor to or assignee of MLBUSA’s rights and obligations under the security agreement between MLBUSA and Pledgor will succeed to MLBUSA’s rights and obligations under this Agreement.
If Pledgor has opted for the overdraft payment feature under the LMA Agreement, the Pledgor and Custodian agree that the terms of Pledgor’s account agreement and/or advisory agreement with Custodian are hereby amended such that an overdraft in the Account shall not be deemed to be a default under the Pledgor’s Account agreement with Custodian if the amount of the overdraft is fully paid by means of an Advance from the MLBUSA Loan Management Account secured by the Account.
Assignor hereby grants, transfers and assigns to Assignee all of the right, title, interest and obligations of Assignor in the Assigned Loans and, as they relate to the Assigned Loans, all of its right, title, interest and obligations in, to and under the MLBUSA AAR Agreement (except for those obligations that are retained by the Assignor as set forth in the MLBUSA AAR Agreement).
Upon notification by MLBUSA to Custodian that MLBUSA’s security interest in the Account has terminated, this Agreement will automatically terminate.