Mortgage Loan Assets definition

Mortgage Loan Assets the mortgage loan assets (including mortgage loan assets and mezzanine loans, and in each case, any agreement, note or instrument evidencing a direct or indirect interest therein, interests in respect of “new market tax credit” loans, any mortgage loan assets similar to any of the foregoing, participation interests in any of the foregoing, and any REO Property, but excluding Excluded Mortgage Loan Assets and mortgage servicing rights) of the Loan Parties and their respective Subsidiaries (other than any Specified Excluded Subsidiaries) to the extent relating to real property located in the United States or Canada.

Mortgage Loan Assets means, as of the applicable Purchase Date, all of Seller’s right, title and interest in, to and under each of the following items of property, then owned and existing and wherever located:

Mortgage Loan Assets means the Initial Mortgage Loan Assets and the Subsequent Mortgage Loan Assets.]

Examples of Mortgage Loan Assets in a sentence

• Procedures and Findings In connection with the Transaction, the Specified Parties have requested that the procedures be performed on 46 mortgage loans (the “Mortgage Loan Assets”) secured by 46 mortgaged properties (the “Mortgaged Properties”) which represents the entire population of Mortgage Loan Assets and Mortgaged Properties (collectively the “Collateral”) within the Transaction.

• However, many families start to prepare for Tet from the middle of January.

• Procedures and Findings In connection with the Transaction, the Specified Parties have requested that the procedures be performed on 51 mortgage loans (the “Mortgage Loan Assets”) secured by 51 mortgaged properties (the “Mortgaged Properties”) which represents the entire population of Mortgage Loan Assets and Mortgaged Properties (collectively the “Collateral”) within the Transaction.

• The Purchaser will pay the Purchase Price for the Initial Mortgage Loan Assets in full to the Seller on the Closing Date.The Purchase Price payable in respect of the Initial Mortgage Loan Assets will be equal to the aggregate principal amount outstanding of the Initial Mortgage Loan Assets as at the Initial Cut-off Date set out in the securitisation plan referred to in " Securitisation Plan" above.

• Use of Proceeds Part of the proceeds of the issue of the Investor Interest will be applied bythe Trustee in payment on the Closing Date of that part of the consideration for the transfer and entrustment of the Mortgage Loan Assets which is payable pursuant to the Trust Agreement in cash on the Closing Date.

• The ability of the Seller to originate sufficient Additional Mortgage Loan Assets or its desire to transfer Additional Mortgage Loan Assets to the Purchaser may be affected by a variety of social and economic factors including interest rates, unemployment levels, the rate of inflation, consumer perception of economic conditions generally and government regulation.

• Misrepresentation or breach of the Seller’s warranties regarding the Mortgage Loan Assets may result in losses to NoteholdersUnder the Transfer Agreement, the Seller will make certain representations and give certainwarranties as of the date of the Transfer Agreement, as of the Closing Date in respect of the Initial Mortgage Loan Assets and as of the Addition Date in respect of the relevant Additional Mortgage Loan Assets.

• Any of these representations and warranties proving to be untrue or incorrect could result in Collections shortfalls on the Mortgage Loan Assets, which may adversely affect the Purchaser’s ability to pay principal and/or interest under the Purchaser Senior Notes and, ultimately, the Issuer’s ability to make payments on the Notes promptly or at all.

• The remaining part of the Purchase Price in relation to the Initial Mortgage Loan Assets under the Transfer Agreement will be satisfied by the Purchaser by way of a set-off against the Interim Collection Amount payable by the Seller to the Purchaser on the Closing Date pursuant to the Transfer Agreement and the purchase price payable by the Seller to the Purchaser for the Purchaser Junior Note on the Closing Date.

• We believe underwriting and closing costs will be at approximately 5% of the value of real estate assets in the event market conditions are favorable for acquiring real estate assets and market conditions are not favorable for the Company to acquire Mortgage Loan Assets.

More Definitions of Mortgage Loan Assets

Mortgage Loan Assets means, collectively, (capitalized terms used in this definition but not otherwise defined in this Pledge Agreement shall have the meanings assigned thereto in the Loan Agreement), together with any other property and any other rights related thereto, all (a) Mortgage Loans, (b) the related Mortgage Loan Documents together with all promissory notes, and Servicing Records and any other collateral pledged or otherwise relating to such Mortgage Loans, all files, material documents, instruments, surveys, certificates, correspondence, appraisals, computer records, computer storage media, accounting records and books and records relating thereto, (c) the related Mortgaged Properties or any interest in real property collateralizing any Mortgage Loan, (d) the related Mortgage Files, (e) the related Servicing Files, (f) all mortgage guaranties and insurance (issued by governmental agencies or otherwise) and any mortgage insurance certificate or other document evidencing such mortgage guaranties or insurance relating to any Mortgage Loans and all claims and payments thereunder, (g) all other insurance policies and insurance proceeds relating to any Mortgage Loans or the related Mortgaged Property, (h) all Interest Rate Protection Agreements, (i) all rights under the Servicing Agreement, the Custodial Agreement or any other document related to Mortgage Loans or the related Mortgaged Properties, (j) all purchase or take-out commitments relating to or constituting any or all of the related Mortgage Loans or the Mortgaged Properties and (k) all products and proceeds relating to any of the items listed in the foregoing clauses (a) through (j).

Mortgage Loan Assets has the meaning ascribed to the term ‘Mortgage Assets’ under the Mortgage Loan Purchase Agreement. “Mortgage Loan Purchase Agreement” means that certain Loan Sale Agreement, dated as of the date hereof, by and between Buyer and Seller, as may be amended, supplemented or otherwise modified from time to time. “Mortgage Loan Sale” means the purchase and sale of Mortgage Loan Assets pursuant to the Mortgage Loan Purchase Agreement. “MSR Assets” has the meaning ascribed to the term ‘Purchased Assets’ under the MSR Purchase Agreement. “MSR Liabilities” has the meaning ascribed to the term ‘Assumed Liabilities’ under the MSR Purchase Agreement. “MSR Purchase Agreement” means that certain Servicing Rights Purchase and Sale Agreement, dated as of the date hereof, by and between Buyer and Seller, as may be amended, supplemented or otherwise modified from time to time. “MSR Sale” has the meaning ascribed to the term ‘Transaction’ under the MSR Purchase Agreement. “Multiemployer Plan” means a “multiemployer plan,” as defined in Section 4001(a)(3) of ERISA. “Owned Intellectual Property” means Intellectual Property owned or purported to be owned by Seller and its Subsidiaries, which for the avoidance of doubt, includes all Trademarks that include the term “American Advisors Group,” “AAG” trademark and any variations thereof. “Parties” means the parties to this Agreement. “Permitted Encumbrances” means (a) Encumbrances for Taxes and other charges and assessments by Governmental Authorities that are not yet due and payable or that are being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP, (b) Encumbrances of landlords and Encumbrances of carriers, warehousemen, mechanics and materialmen and other like Encumbrances arising in the ordinary course of business for sums not yet due and payable or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP and (c) other Encumbrances or imperfections on property that do not materially detract from the value of or materially impair the existing use of the property affected by such Encumbrance or imperfection.

Mortgage Loan Assets means, as of the Purchase Date, all of SCP’s right, title and interest in, to and under each of the following items of property, then owned and existing and wherever located:

Mortgage Loan Assets has the meaning set forth in Section 7.3.

Mortgage Loan Assets shall have the meaning set forth in Section 2.02(a).