Pledged Mortgage Loan definition

Pledged Mortgage Loan. With respect to any Series, any Mortgage Loan Granted to the Indenture Trustee by the Issuer to secure such Series, as from time to time is held as a part of the related Trust Estate, including any such Mortgage Loan as may constitute Substitute Mortgage Collateral.

Pledged Mortgage Loan as defined in the Pledge and Security Agreement.

Pledged Mortgage Loan. Any one of the Mortgage Loans pledged to the Indenture Trustee by the Issuer pursuant to the granting clause of the Indenture, that from time to time are held as a part of the Trust Estate and as are more fully described on Schedule I of the Indenture.

Examples of Pledged Mortgage Loan in a sentence

• If a Pledged Mortgage Loan is not sold to an Investor on or prior to the applicable Dwell Limit, or Borrower is required to repay the related Advance in accordance with the terms of this Agreement, or a Default or Event of Default exists, or the Settlement Proceeds for any Pledged Mortgage Loan are equal to or less than the Release Amount for such Mortgage Loan, no servicing fee or any other compensation shall be due to Borrower for its servicing of such Pledged Mortgage Loan.

• Borrower is not currently involved in (i) any litigation or proceeding, including but not limited to knowledge of any investigation of Borrower by any Governmental Authority (including, without limitation, the CFPB), with respect to Borrower or any Pledged Mortgage Loan or (ii) any material litigation or proceeding, including but not limited to knowledge of any investigation of Parent by any Governmental Authority (including, without limitation, the CFPB), with respect to Parent.

• In addition, Borrower agrees to provide Lender, within three (3) Business Days of Borrower’s receipt thereof, copies of any documents, filings, memoranda or correspondence relating to any audit, enforcement action, restriction, suspension, termination or similar proceeding involving Borrower or any Pledged Mortgage Loan.

• The Mortgage Loan has been, or will be, closed less than thirty (30) calendar days prior to the date Lender funds the Advance Amount for such Pledged Mortgage Loan.

• If any such sale, assignment, transfer, disposition, pledge or encumbrance by Borrower of any Pledged Mortgage Loan or any interest therein occurs, except as permitted by Lender (other than any Pledged Mortgage Loans sold to an Investor in accordance with the terms and provisions herein), Borrower shall immediately repay the Advance related to such Pledged Mortgage Loan by remitting an amount equal to the Release Amount therefor to Lender.

More Definitions of Pledged Mortgage Loan

Pledged Mortgage Loan means any mortgage loan (a) which is identified in a Mortgage Schedule delivered by the Obligors to the Lender Agent, (b) the Carrying Value of which is included in the calculation of the Borrowing Base included in a Borrowing Base Report or a Monthly Collateral Report or (c) which is indicated in an Obligor’s books and records as having been pledged to the Lender Agent.

Pledged Mortgage Loan shall have the meaning set forth in Section 3.01(b) hereof.

Pledged Mortgage Loan means any Mortgage Loan (a) which is from time to time delivered or caused to be delivered to Agent (including delivery to a third party on behalf of Agent), or comes into the possession, custody or control of Agent, or is identified to Agent as collateral by any other means or method, whether or not Agent has possession of the related promissory note, for the purpose of assignment or pledge in connection with the making of any advance of the Indebtedness or otherwise, or (b) with respect to which Agent has made an advance of the Indebtedness, or (c) with respect to which Debtor has requested an advance of the Indebtedness, or (d) which is now or at any time pledged, hypothecated, assigned, transferred, or conveyed, or a security interest therein granted, to Agent.

Pledged Mortgage Loan. Any one of the Mortgage Loans transferred to the Indenture Trustee by the Issuer pursuant to the Granting Clause, as from time to time are held as a part of the Trust Estate and as are more fully described on Schedule I attached hereto.]

Pledged Mortgage Loan. A Mortgage Loan that has been pledged as Collateral for an Advance hereunder and not released to an Investor or Borrower pursuant to Section 6.5.

Pledged Mortgage Loan means a Mortgage Loan identified in a Collateral Pledge Certificate as a Mortgage Loan in which Borrower is granting Agent a security interest for the benefit of Lenders to secure the Obligations.

Pledged Mortgage Loan. A Mortgage Loan that has been pledged by Borrower to Lender in connection with the Advance.