REO Collateral definition

REO Collateral which means the REO pledged or mortgaged to the Agent;
Sample 1
REO Collateral means, that certain Real Property Assets that meet the Eligibility Requirements and the requirements of this Agreement for inclusion in the Borrowing Base Collateral pursuant to Article 3 below.
Sample 1

Examples of REO Collateral in a sentence

  • Telephone services, electric power, storm sewers, sanitary sewer, potable water facilities and all other utilities and services necessary for the use, operation and maintenance of such REO Collateral included in the Borrowing Base Collateral are available and are adequate to serve such REO Collateral, and are not subject to any conditions limiting the use of such utilities, other than normal charges to the utility supplier.

  • Borrower shall have provided to Lender a first lien Deed of Trust for each County in which the REO Collateral is located, or an amendment to an existing Deed of Trust, securing the full Commitment Amount, subject only to Permitted Exceptions, duly executed by Borrower, acknowledged, delivered and recorded.

  • Borrower will keep and maintain in full force and effect all restrictive covenants, conditions and restrictions, easements and other agreements with Governmental Authorities and other Persons that are necessary for the development, use and sale of the REO Collateral.

  • Notwithstanding the foregoing, Lender or any person on behalf of Lender will not be permitted to have access to any portion of the REO Collateral that is occupied by a tenant without being accompanied by a representative of Borrower and then only in compliance with the terms and conditions of the applicable Qualified Lease and all Requirements.

  • Borrower will execute and deliver such further instruments and will do and perform all matters and things necessary or expedient to be done or performed for the purpose of effectively creating, maintaining and preserving the REO Collateral and the Liens and Encumbrances of Lender on such Collateral.

  • Each Title Policy or endorsement shall be in a form and substance reasonably satisfactory to Lender, and unless approved by Lender, the aggregate amount of all policies shall equal the Commitment Amount subject to appropriate tie-in endorsements with the other existing Title Policies for the REO Collateral.

  • Lender has received, reviewed and approved a current Phase 1 Environmental Report for the REO Collateral showing no further recommended action, and otherwise in a form acceptable to Lender.

  • Lender and its respective agents, employees, and representatives will have the right at any time and from time to time to enter upon the REO Collateral in order to inspect the REO Collateral and all aspects thereof, up to one time per year unless there is a continuing Event of Default, to confirm that there has been no Material Adverse Change with respect to the REO Collateral.

  • The REO Collateral is in good condition and repair with no deferred maintenance, structural damage or physical defects.

  • The Companies may request Borrowings and may use proceeds of Borrowings only (a) to fund or acquire Eligible Single-family Collateral concurrently Pledged to the Agent, (b) to fund Periodic Advances that produce Eligible Receivables Collateral, (c) to repurchase Repurchased Defaulted Mortgage Loans, (d) to finance Eligible REO Collateral and (e) to fund the Companies' working capital needs.

Related to REO Collateral

  • UCC Collateral is defined in Section 3.03.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • U.S. Collateral means any and all property owned, leased or operated by a Person covered by the U.S. Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations.

  • 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.

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • 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.

  • 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.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Primary Collateral With respect to any Cross-Collateralized Mortgage Loan, any Mortgaged Property (or portion thereof) designated as directly securing such Cross-Collateralized Mortgage Loan and excluding any Mortgaged Property (or portion thereof) as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Cross-Collateralized Mortgage Loan.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

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

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Personal Property Collateral means all Collateral other than Real Property.

  • Foreign Collateral means that portion of the Collateral securing the Foreign Obligations.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Guarantor Collateral all of the property (tangible or intangible) purported to be subject to the lien or security interest purported to be created by any mortgage, deed of trust, security agreement, pledge agreement, assignment or other security document heretofore or hereafter executed by any Guarantor as security for all or part of the Obligations or the Guarantees.

  • Second Lien Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Second Lien Obligations.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.