Examples of Mortgage Receivable in a sentence
The CBC will have the right, but not the obligation, to enter into an Insurance Savings Participation Agreement with any other Insurance Company which offers a Savings Insurance Policy connected to an Insurance Savings Mortgage Receivable which has been transferred to the CBC.
This may lead to set-off by the Borrower under the Mortgage Receivable, provided that the legal requirements for set-off are met.
If any Mortgage Receivable does not materially comply with any of the Eligibility Criteria as at the Transfer Date of that Mortgage Receivable or is or becomes a Defaulted Receivable, then such Mortgage Receivables will be excluded from the Asset Cover Test and the Amortisation Test.
Therefore, the mortgage conditions used by the Originator provide that the principal sum of a Mortgage Receivable, including interest, will become immediately due and payable, inter alia, if the long lease terminates or if the leaseholder materially breaches the conditions of the long lease.
The CBC will not, and the Security Trustee will not, undertake any investigations, searches or other actions on any Mortgage Receivable and will rely instead on the Mortgage Receivables Warranties given in the Guarantee Support Agreement by the Originator in respect of the relevant Mortgage Receivables.