Examples of OLS Transferred Assets in a sentence
Such representations and warranties shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables and any other related OLS Transferred Assets to HLSS.
In addition, OLS shall take all actions as may be necessary to ensure that, if this Agreement were deemed to create, or does create, a security interest in the Receivables and the other OLS Transferred Assets, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such until the Receivables Sale Termination Date.
Prior to the related MSR Transfer Date, OLS shall, at its own expense, on or prior to the applicable Sale Date, in the case of OLS Additional Receivables, indicate in its books and records (including its computer records) that the Receivables arising under each Designated Servicing Agreement and the related OLS Transferred Assets have been sold to HLSS in accordance with this Agreement.
OLS will, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in such Receivables and the OLS Transferred Assets, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement.
Further, it is intended that the conveyances by OLS on and after the Effective Date of OLS’s right, title and interest in, to and under the OLS Additional Receivables and of the OLS Transferred Assets to HLSS pursuant to this Agreement shall constitute, and shall be construed as, sales and not as grants of security interests to secure one or more loans.
Further, it is intended that the conveyances by OLS on and after the Amended and Restated Closing Date of OLS’s right, title and interest in, to and under the OLS Additional Receivables and of the OLS Transferred Assets to HLSS pursuant to this Agreement shall constitute, and shall be construed as, sales and not as grants of security interests to secure one or more loans.
In addition, upon HLSS’ reasonable request and at HLSS’ expense, OLS shall take all actions as may be necessary to ensure that, if this Agreement were deemed to create, or does create, a security interest in the OLS Receivables and the other OLS Transferred Assets, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such until the Receivables Sale Termination Date.
OLS accounts for the transactions contemplated by this Agreement in accordance with GAAP and intends and acknowledges that the conveyance of the OLS Receivables and OLS Transferred Assets is a sale to HLSS.
OLS, hereby covenants and agrees not to amend the Purchase Agreement in any way that adversely affects the sale, assignment, transfer and conveyance of OLS Transferred Assets hereunder, without the prior written consent of the Administrative Agent.
Such representations and warranties shall survive the sale, assignment, transfer and conveyance of any OLS Receivables and any other related OLS Transferred Assets to HLSS.