Zero Value Asset definition
Zero Value Asset. A Loan that (a) is no longer an Eligible Loan or (b) has an Assigned Value of zero.
Zero Value Asset means a Collateral Obligation at any time:
Examples of Zero Value Asset in a sentence
Except as otherwise permitted herein and in respect of any Discretionary Sale, Substitution or sale of a Warranty Loan or a Zero Value Asset, ▇▇▇▇▇ Borrower will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other than Permitted Liens) on any Collateral, whether now existing or hereafter transferred hereunder to thesuch Borrower, or any interest therein.