MSR Collateral definition

MSR Collateral shall have the meaning set forth in Section 2.17.
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MSR Collateral has the meaning assigned to such term in Section 5.07.
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MSR Collateral means (i) the Servicing Rights whether or not yet accrued, earned, due or payable as well as all other present and future rights and interests of RFC or GMAC Mortgage, as applicable, in such Servicing Rights, (ii) the Collection Accounts (as such term is defined in the MSR Loan Agreement), (iii) the Servicing Contracts and all rights and claims thereunder, (iv) all books and records, including computer disks and other records, related to the foregoing (but excluding computer programs), (v) any Additional Collateral pledged from time to time pursuant to Section 2.08(b) of the MSR Loan Agreement, and (vi) all monies due or to become due with respect to the foregoing and all Proceeds of the foregoing, but with respect to (i)-(v) above specifically excluding the Excluded Collateral.
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Examples of MSR Collateral in a sentence

  • Each of the Borrower and Guarantor has good title to, valid leasehold interests in, or valid licenses to use, all of its properties and assets necessary in the ordinary conduct of its business, including all of the Collateral, and (i) the MSR Collateral is free and clear of Liens other than Permitted MSR Collateral Liens, and (ii) all other Collateral is free and clear of Liens other than Permitted Collateral Liens.

  • The MSR Collateral Agent shall have no duty to preserve MSR Collateral for the benefit of the Noteholders and the MSR Collateral Agent’s rights to resign as MSR Collateral Agent for the Noteholders pursuant to this paragraph (c) will be sole and absolute.

  • The Administrative Agent, for the benefit of the Secured Parties, ceases to have a first priority perfected security interest in any portion of the MSR Collateral or a perfected security interest (of the applicable priority) in any other portion of the Collateral.

  • The MSR Collateral Agent shall not be required to take any action hereunder or under any other Second Priority Debt Document unless (i) it is instructed in writing by the Second Lien Collateral Agent to take such action and (ii) it has been provided by the Noteholders security or indemnity satisfactory to it against any potential loss, liability or expense.

  • Upon any resignation of the MSR Collateral Agent as MSR Collateral Agent for the Noteholders, unless the MSR Collateral Agent is replaced prior to such resignation with a new collateral agent who is party to the Acknowledgement Agreements, the Lien and security interest created pursuant to this Section 5.07 on the MSR Collateral for the benefit of the Noteholders shall automatically terminate.

  • Upon the Discharge of First Lien Credit Agreement Obligations (unless otherwise agreed in writing by the MSR Collateral Agent), the Company shall seek a replacement MSR Collateral Agent.

  • The Company shall provide a written notice to the Second Lien Collateral Agent of the Discharge of First Lien Credit Agreement Obligations together with a reference to this Section 5.07, provided that the MSR Collateral Agent’s resignation shall be automatic notwithstanding any failure by the Company to provide such notice.

  • The Lender Agent hereby appoints the Omnibus Agent to hold any Collateral (other than any MSR Collateral or Derivative Collateral) which constitutes Account Collateral, Bailment Collateral or Pledged Property, and the Omnibus Agent hereby accepts such appointment.

  • Each Grantor hereby acknowledges that, notwithstanding the release of the MSR Collateral contained in the Fourth Security Agreement as executed on the date thereof, the Servicing Rights Collateral has been pledged as Collateral hereunder pursuant to the Collateral Addition Designation Notice contained in that certain First Amendment to the Amended and Restated Loan Agreement (Line of Credit Agreement), dated as of the date hereof, among the parties to the Loan Agreement.

  • GMAC, in its capacity as Lender under the MSR Loan Agreement and as Secured Party, hereby releases its security interest in the MSR Collateral and the GSAP Interests under this Agreement and the MSR Loan Agreement, effective as of the time the Loan Agreement and this Agreement become effective.


More Definitions of MSR Collateral

MSR Collateral has the meaning specified in the Junior Priority Intercreditor Agreement.
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Related to MSR Collateral

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • UCC Collateral is defined in Section 3.03.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.