Trailing Document definition

Trailing Document means any additional documentation related to a Timeshare Loan or supplemental to a Timeshare Loan File delivered to the Custodian following its initial receipt of the relevant Timeshare Loan File and immediately incorporated into such relevant Timeshare Loan File by the Custodian upon receipt.

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Trailing Document means those Loan Assignment Documents referenced in subclauses (a)(ii) and (iii) and (b)(ii) of the definition thereof.

Trailing Document means the original of any required recordable “in blank” assignment document that is not delivered to the Trustee at the time of the initial Whole Loan setup on the Trustee’s automated data system due to the fact that an underlying recordable assignment document into the Grantor has been dispatched for recording and has not been returned to the Grantor prior to the deposit of the related Whole Loans into the Trust Accounts.

Examples of Trailing Document in a sentence

• A Defective Mortgage Loan is a Mortgage Loan which Cendant discovers during the servicing of such Mortgage Loan is in violation of a representation, warranty or covenant made by the applicable Correspondent Lender, including but not limited to a Mortgage Loan as to which a Correspondent Lender has failed to deliver a Trailing Document within 270 days of the Closing Date.

• The Grantor covenants that, upon its receipt of a Trailing Document (as hereinafter defined), it shall promptly provide such Trailing Document to the Trustee.

• The Grantor covenants that, upon its receipt of a Trailing Document, it shall promptly provide such Trailing Document to the Trustee.

• Any Whole Loan deposited into the Trust Account for which an Exception (other than if the Exception is the absence of a Trailing Document) has been identified by the Trustee shall not be deemed an “Eligible Asset” for purposes of this Agreement.

More Definitions of Trailing Document

Trailing Document means stamped copy of any recorded Recordable Loan Assignment Document that is not delivered to the Trustee at the time of the initial deposit due to the fact that such document has been delivered for recording and has not been returned to the Grantor prior to the deposit of the related Mortgage Loan into the Trust Account.

Trailing Document means any additional original document acquired by THDA in respect of a Mortgage Loan (including original documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan) that is delivered or caused to be delivered by THDA to the Custodian after initial Mortgage File setup on the Custodian’s automated data system, to the extent delivery of such documents is required by the Credit Agreement.

Trailing Document means (i) the original of any recorded Security Instrument, Lease Assignment or Financing Statements for a Commercial Mortgage Loan that is not delivered to the Trustee at the time of the initial Commercial Mortgage Loan setup on the Trustee's automated data system due to the fact that such document has been dispatched for recording and has not been returned to Grantor prior to the deposit of the related Commercial Mortgage Loan into the Trust Account, and (ii) any final title insurance policy relating to such Commercial Mortgage Loan that is not delivered to the Trustee at the time of the initial Commercial Mortgage Loan set upon the Trustee’s automated data system due to the fact that the applicable title insurance company has not delivered the final title insurance policy to Grantor prior to the deposit of the related Commercial Mortgage Loan into the Trust Account.