TRS Trust Estate definition
TRS Trust Estate means the corpus of the trust created as of the Closing Date and to be administered hereunder, consisting of (i) all the right, title and interest of the TRS Sub-Trust in and to the TRS Mortgage Loans and all distributions thereon after the Closing Date, (ii) all the right, title and interest of the TRS Sub-Trust in and to the TRS Servicing Agreement and any accounts created thereunder and under the Blocked Account Agreement, (iii) the rights of the TRS Sub-Trust to enforce remedies against the Administrator under the Administration Agreement with respect to the TRS Mortgage Loans (provided that the TRS Sub-Trust retains the right to give instructions and directions to the Administrator thereunder), against MortgageIT, as a Seller, under the Loan Sale Agreement and against MortgageIT, as a Depositor, under the Trust Agreement, (iv) all present and future claims, demands, causes and choses in action in respect of the foregoing, and (v) all proceeds of the foregoing of every kind and nature whatsoever, including, without limitation, all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property that at any time constitute all or part of or are included in the proceeds of the foregoing.
Examples of TRS Trust Estate in a sentence
The UBS Cash Account shall contain a sub-trust account with respect to the REIT Mortgage Loans (the “REIT UBS Cash Account”) and a sub-trust account with respect to the TRS Mortgage Loans (the “TRS UBS Cash Account”), that reflect the balances of the REIT Trust Estate and the TRS Trust Estate, respectively.