Examples of Upsize Date in a sentence
Immediately prior to such sale, the Seller hereby conveys and assigns to the Issuer all of the right, title and interest of the Seller in and to (i) the Mortgage Assets and (ii) all amounts received or receivable on such Mortgage Assets, whether now existing or hereafter acquired, after the Upsize Date (other than amounts accrued prior to the Upsize Date).
It is understood and agreed that the Initial Purchaser is not acquiring, and has no obligation to acquire, the Additional Issuance Subordinated Notes (which Additional Issuance Subordinated Notes will be acquired by the Depositor on the Upsize Date pursuant to a purchase agreement between the Issuer and the Depositor (the “Additional Issuance Subordinated Notes Purchase Agreement”)).
The Additional Issuance Subordinated Notes shall be delivered to the Depositor on the Upsize Date in fully registered, certificated form in the permitted denominations and the required proportions set forth in the Final Offering Circular.
The Collection Accounts (including any sub accounts thereof) are the only accounts to which Collections on the Collateral are sent; provided that Collections on Collateral owned by the Merged Entity prior to the Fourth Upsize Date may initially be deposited into the “General Collection Account” for the Merged Entity held at Xxxxx Fargo Bank, National Association.
Neither the Seller nor any affiliate thereof has any obligation to make any capital contribution to any Borrower under a Mortgage Loan, other than escrows, reserves, holdbacks, or Future Funding Amounts provided for in the related Asset Documents and contributions made on or prior to the Upsize Date.
It is understood and agreed that the structuring and placement fee payable by the Company on behalf of the Issuer to the Initial Purchaser on the Second Upsize Date with respect to the Second Additional Issuance Offered Notes is $450,000.
No request to exercise an Upsize Option shall be effective until Seller has paid to Buyer an amount equal to the Upsize Fee, which Upsize Fee shall be due and payable on the Upsize Date.
It is understood and agreed that the structuring and placement fee payable by the Company on behalf of the Issuer to the Initial Purchaser on the Upsize Date with respect to the Additional Notes is $829,343.75.
With respect to each Mortgage which is a deed of trust, as of the date of origination and, to the Seller’s knowledge, as of the Upsize Date, a trustee, duly qualified under applicable law to serve as such, currently so serves and is named in the deed of trust or has been substituted in accordance with the Mortgage and applicable law or may be substituted in accordance with the Mortgage and applicable law by the related mortgagee.
Any and all requirements under the Mortgage Loan as to completion of any material improvements and as to disbursements of any funds escrowed for such purpose, which requirements were to have been complied with on or before Upsize Date, have been complied with in all material respects or the funds so escrowed have not been released unless such release was consistent with the Seller’s practices with respect to escrow releases or such released funds were otherwise used for their intended purpose.