Purchase Money Notes Guarantor definition
Examples of Purchase Money Notes Guarantor in a sentence
Copies of all fully executed Servicing Agreements and Subservicing Agreements, including all supplements and amendments thereto, shall be provided to the Initial Member and the Purchase Money Notes Guarantor.
The Manager may not assign, sell, transfer, participate, pledge, or hypothecate, in whole or in part, its interest in any Discretionary Funding Advances without the consent of the Initial Member, and until the Purchase Money Notes Defeasance Date, the Purchase Money Notes Guarantor.
Any other defined terms used herein but not defined herein shall have the meanings set forth in the Agreement of Common Definitions, dated as of July 2, 2010, between the Initial Member, the Company, the Private Owner, the Bank, the Collateral Agent and the Purchase Money Notes Guarantor.
The Company agrees to deliver to the Paying Agent each of the Debt Agreements that is executed and delivered by it, or executed by the Purchase Money Notes Guarantor or the Collateral Agent and delivered to it, subsequent to the date of this Agreement promptly upon execution and delivery and to deliver each instrument amending or modifying any agreement previously delivered to the Paying Agent.
Notwithstanding anything to the contrary herein, this Agreement may be terminated without cause upon at least thirty (30) days’ prior written notice to the Custodian and Paying Agent, by any of the Company, the Purchase Money Notes Guarantor and the Collateral Agent.
The Purchase Money Notes Guarantor hereby waives any right to revoke this Section 5 and acknowledges that this Section 5 is continuing in nature and applies to all Guaranteed Obligations, whether existing now or in the future.
In the event that the default or failure to perform is not cured within thirty (30) days after the date of delivery of the Termination Notice, the Servicer shall provide a second Termination Notice to the Manager with a copy to the Purchase Money Notes Guarantor and the Initial Member, which second Termination Notice shall be prominently labeled as the “Second Termination Notice”.
The Company, the Purchase Money Notes Guarantor, and the FDIC shall be and are hereby designated as third party beneficiaries under this Agreement with respect to those provisions of this Agreement which expressly grant rights to such Persons, and, as such, each is entitled to enforce such provisions of this Agreement as if such Person were a party hereto.
In the absence of a protective order or waiver, the Servicer may make such required disclosure if, in the written opinion of its outside counsel (which opinion shall be provided to the Manager, the Initial Member and the Purchase Money Notes Guarantor prior to disclosure pursuant to this Section 11.9), failure to make such disclosure would subject the Servicer to liability for contempt, censure or other legal penalty or liability.
Such Second Termination Notice shall confirm to the Manager that the Servicer shall continue to perform the Servicing Obligations under this Agreement until the earlier to occur of (i) ninety (90) days after the delivery of the Second Termination Notice to the Manager, the Purchase Money Notes Guarantor and the Initial Member, and (ii) the transfer of the Servicing Obligations to a successor Servicer.