REO Subsidiary definition

REO Subsidiary means RESI REO Sub, LLC or its permitted successors or assigns.
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REO Subsidiary shall have the meaning assigned thereto in the Recitals hereof.
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REO Subsidiary means a Domestic Subsidiary that has been or will be formed for the sole purpose of holding title to one or more REO Properties, for so long as such entity holds title to any such REO Properties.
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Examples of REO Subsidiary in a sentence

  • The REO Subsidiary Corporation has the power to hold property whenever, in the sole discretion of the Corporation, it has become necessary to acquire a project in the case of sale under foreclosure or in lieu of foreclosure to effectuate the purposes of the Act.

  • The REO Subsidiary Corporation is treated as a blended component unit of HDC.

  • The REO Subsidiary Interests (a) constitute “securities” as defined in Section 8-102 of the Uniform Commercial Code (b) are not dealt in or traded on securities exchanges or in securities markets, (c) do not constitute investment company securities (within the meaning of Section 8-103(c) of the Uniform Commercial Code) and (d) are not held in a securities account (within the meaning of Section 8-103(c) of the Uniform Commercial Code).

  • Each REO Subsidiary Interest complies in all respects with, or is exempt from, all applicable requirements of federal, state or local law relating to such REO Subsidiary Interest.

  • The Lien granted hereunder is a first priority Lien on the REO Subsidiary Interests.


More Definitions of REO Subsidiary

REO Subsidiary means PMC REO Financing Trust, a wholly owned Subsidiary of PMC that is a Special Purpose Entity formed for the sole purpose of holding REO Property and Rental Property.
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REO Subsidiary means, as the context requires, the Existing REO Subsidiary or the Additional REO Subsidiary.
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REO Subsidiary shall have the meaning assigned to such term in Section 4.11 hereof.
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REO Subsidiary means RMS REO CS, LLC, a Delaware limited liability company.
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REO Subsidiary means RMS REO BRC, LLC, the special purpose Subsidiary of RMS formed to hold Eligible Mortgage Loans and REO Property related to foreclosures of HECM Buyout Loans.
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REO Subsidiary means PMC REO Trust 2015-1.
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REO Subsidiary shall have the meaning specified in Section 8.12(a).
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