Eligible Mortgage Collateral definition

Eligible Mortgage Collateral means Eligible Mortgage Loans and the Collection Account.
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Eligible Mortgage Collateral means Mortgage Collateral which meets the requirements of Eligible Collateral described in Subsection 1.1.17 above.
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Eligible Mortgage Collateral means, at any time, all Eligible-Mortgage Loans and all Eligible-Mortgage Securities.
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Examples of Eligible Mortgage Collateral in a sentence

  • However, neither the Borrower nor the Servicer on its behalf shall request transfers if (A) total Principal Debt will exceed the total Collateral Value of Eligible Mortgage Collateral immediately after giving effect to a requested transfer, or (B) the Collateral Agent shall have received written notice from the Administrative Agent that a Default or Event of Default has occurred.

  • The Borrower shall, within one (1) Business Day, make a mandatory prepayment on the Principal Debt owed to the Lenders if, at any time, and to the extent that, (i) the Principal Debt owed to the Lenders exceeds the Maximum Facility Amount or (ii) the Principal Debt exceeds the total Collateral Value of all Eligible Mortgage Collateral.

  • The Borrower represents and warrants that each request for any release or transfer pursuant to Section 3.3(a) or Section 3.3(b) shall automatically constitute a representation and warranty to the effect that immediately before and after giving effect to such release or Transfer Request, the Collateral Value of Eligible Mortgage Collateral shall equal or exceed the Principal Debt.


More Definitions of Eligible Mortgage Collateral

Eligible Mortgage Collateral means, on any day, all Eligible Mortgage Loans and Eligible Mortgage-backed Securities.
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Related to Eligible Mortgage Collateral

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Hedge Collateral Defined in Section 5.3(b).

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Eligible mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Non-MERS Eligible Mortgage Loan Any Mortgage Loan other than a MERS Eligible Mortgage Loan.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • UCC Collateral is defined in Section 3.03.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Facility Mortgage As defined in Section 13.1.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.