Examples of Transferor Letter in a sentence
Transferor Letter of Undertaking regarding not holding layers for two years (if all quota is be offered).
In the event that the Transferor delivers to the Trustee a substitute letter of credit meeting the requirements of Section 4.01B(c), the Trustee shall release to the initial Letter of Credit Bank any funds on deposit in the Transferor Escrow Account for application pursuant to the agreement pursuant to which the initial Transferor Letter of Credit was issued.
On the first Business Day after the earlier of the Payoff Date and the scheduled expiration date of the Transferor Letter of Credit, all funds in the Transferor Escrow Account shall be paid to the Letter of Credit Bank for application in accordance with the agreement pursuant to which the Transferor Letter of Credit was issued.
Exhibit A-1 Form of Class E-1 Certificate Exhibit A-2 Form of Class E-2 Certificate Exhibit A-R Form of Class R Certificate Exhibit B Class R Transferee Affidavit Exhibit C Class R Transferor Letter Exhibit D Class E-2 Transferee Affidavit This Trust Agreement ("Trust Agreement"), dated as of October 1, 1996, by and among XXXXXX STRUCTURED SECURITIES CORP., as Depositor and STATE STREET BANK AND TRUST COMPANY, as Trustee (the "Trustee").
The Depositor hereby accepts such assignment and delegation, and shall be entitled to exercise all the rights of the Seller under the Transfer Agreements, the Transferor Letter Agreements and the Servicing Agreement, other than any servicing rights thereunder, as if the Depositor had been a party to each such agreement.
Execution in Counterparts EXHIBITS Exhibit A-1 Form of Class E-1 Certificate Exhibit A-2 Form of Class E-2 Certificate Exhibit A-R Form of Class R Certificate Exhibit B Class R Transferee Affidavit Exhibit C Class R Transferor Letter Exhibit D Class E-2 Transferee Affidavit This Trust Agreement ("Trust Agreement"), dated as of October 1, 1996, by and among XXXXXX STRUCTURED SECURITIES CORP., as Depositor and STATE STREET BANK AND TRUST COMPANY, as Trustee (the "Trustee").
If proceeds from the Transferor Letter of Credit are not available to pay such adjustment obligation in full, then the amount of Receivables used to calculate the Transferor Amount, any Invested Percentage, the B/F Amount and the Transferor Percentage will be reduced by the amount of the adjustment.
Concurrently with the execution and delivery of this Agreement, the Seller hereby assigns to the Depositor all of its rights and interest under the Transfer Agreement (including the right to enforce the Transferor’s obligation pursuant to Section 8 of the Transferor Letter Agreement) and the Servicing Agreement, other than any servicing rights retained thereunder, and delegates to the Depositor all of its obligations thereunder, to the extent relating to the Mortgage Loans.
Any investment earnings on the Transferor Escrow Account shall be remitted monthly on each Distribution Date to the Letter of Credit Bank for application by the Letter of Credit Bank in accordance with the agreement pursuant to which the Transferor Letter of Credit was issued.
Any deposit into the Collection Account in connection with the adjustment of a Receivable (including the proceeds of any drawing under the Transferor Letter of Credit) shall be considered an "Adjustment Payment," ------------------ shall be treated as Finance Charge Collections or Principal Collections, as applicable, and shall be applied in accordance with Article IV.