Originator Beneficiary definition
Examples of Originator Beneficiary in a sentence
The Mortgage Administrator acknowledges that the Title Deeds and Customer Files relating to the Mortgage Portfolio in its possession, custody or control will be held to the order of the Issuer and the Originator Beneficiary and that it has, in its capacity as Mortgage Administrator, no beneficial interest therein and the Mortgage Administrator irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
Subject to Clause 4.3, the Mortgage Administrator will not at any time, without the prior consent of the Issuer, set or maintain the Standard Variable Rate at a rate which is higher or lower than the Originator's then prevailing variable base rate which applies to loans beneficially owned by the Originator which are not included in the Mortgage Portfolio and the Issuer, the Originator and the Originator Beneficiary shall be bound by the Standard Variable Rate set in accordance with this Agreement.
The Issuer, the Mortgage Administrator, the Originator, the Originator Beneficiary, the Trustee, the Back-Up Mortgage Administrator and the Back-Up Mortgage Administrator Facilitator hereby agree, with effect from the Effective Date, that the terms of the Original Mortgage Administration Agreement shall be amended and restated as set out in Schedule 3 (Amended and Restated Mortgage Administration Agreement).