Xxxxxxx Asset definition

Xxxxxxx Asset means any asset the ownership of which by the Borrower, in the reasonable judgment of the Borrower or the Collateral Manager, would cause the Borrower to be unable to comply with the loan securitization exclusion from the definition of “covered fund” under the Xxxxxxx Rule; provided that, in making any such determination, the Borrower or the Collateral Manager may conclusively rely on the written advice of counsel of national reputation experienced in such matters which advice is reasonably acceptable to the Facility Agent.

Examples of Xxxxxxx Asset in a sentence

• None of Bear Xxxxxxx Asset Backed Securities I LLC, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.

• This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Bear Xxxxxxx Asset Backed Securities I LLC, the Master Servicer or the Trustee referred to below or any of their affiliates or any other person.

• Depositor: Bear Xxxxxxx Asset Backed Securities I LLC, a Delaware limited liability company, or its successor in interest.

• Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Bear Xxxxxxx Asset Backed Securities I LLC, the Master Servicer, the Trustee or the Securities Administrator or any of their affiliates or any other person.

• This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Bear Xxxxxxx Asset Backed Securities I LLC, the Master Servicer, the Trustee or the Securities Administrator referred to below or any of their affiliates or any other person.

• Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Bear Xxxxxxx Asset Backed Securities I LLC, the Master Servicer, the Trustee or any of their affiliates or any other person.

• This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate of the denominations of all Certificates of the same Class) in certain monthly distributions with respect to a Trust Fund consisting of the Trust Assets deposited by Bear Xxxxxxx Asset Backed Securities, Inc.

• Bear Xxxxxxx Asset Backed Securities I LLC, a Delaware limited liability company (the “Depositor”), from time to time proposes to issue and sell Asset-Backed Certificates (“Certificates”) in various series (each a “Series”), and, within each Series, in various classes, in one or more offerings on terms determined at the time of sale.

• Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Bear Xxxxxxx Asset Backed Securities I LLC, the Master Servicer or the Trustee or any of their affiliates or any other person.

• Terms not otherwise defined herein shall have the meanings given to such terms in the Pooling and Servicing Agreement dated as of _____________, _____, among Bear Xxxxxxx Asset Backed Securities I LLC, as depositor, _________________, as master servicer and securities administrator, EMC Mortgage Corporation, as sponsor and company and ______________, as trustee.