Examples of Purchased Mortgage Loan in a sentence
Any rights of the Corporation set forth in (1)-(5) above may be exercised by, (i) to the extent permitted by law, a subsidiary of the Corporation established pursuant to Section 654-a of the Act and (ii) with respect to the 2006 Series A Purchased Mortgage Loan backing the 2006 Series A Mortgage Loan only, another entity in accordance with the provisions of the Special Servicing Agreement.
Such obligation to repurchase exists without regard to any prior or intervening liquidation or foreclosure with respect to any Purchased Mortgage Loan (but liquidation or foreclosure proceeds received by Buyer shall be applied to reduce the Repurchase Price for such Purchased Mortgage Loan on each Price Differential Payment Date except as otherwise provided herein).
They are also regularly placed on “Restriction” enhanced solitary confinement for 24 hours or more at the whim of staff.
The Corporation may at any time thereafter sell such Project, provided that the proceeds of such sale shall be treated as Pledged Receipts with respect to the 2006 Series A Purchased Mortgage Loan backing the 2006 Series A Mortgage Loan or as Recoveries of Principal with respect to a 2012 Mortgage Loan, as the case may be.
If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer.