“Converted REO Property” means an REO Property that results from the foreclosure of any Mortgage Loan that was a Purchased Asset, or transfer of the related Mortgaged Property in lieu of foreclosure or other transfer of such real property, and (i) which is titled in the name of the REO Subsidiary and (ii) with respect to which such REO Property has satisfied the conditions of Section 3(j)(iv).
“Custodial Agreement” means that certain Amended and Restated Custodial Agreement, dated as of the Effective Date, among Seller, Agent, the REO Subsidiary and Custodian, entered into in connection with this Agreement, as the same may be amended, restated, modified or supplemented from time to time.
“Custodian” means Deutsche Bank National Trust Company, and its successors and permitted assigns.
“Default” means any event that, with the giving of notice or the passage of time or both, would constitute an Event of Default.
“Default Rate” has the meaning assigned thereto in the Pricing Side Letter.
“Direct Transfer REO Properties” has the meaning assigned thereto in Section 3(j)(ii)(A).
“Dollars” or “$” means, unless otherwise expressly stated, lawful money of the United States of America.
“Economic and Trade Sanctions and Anti-Terrorism Laws” means any laws relating to terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering, or bribery, all as amended, supplemented or replaced from time to time.
“Effective Date” has the meaning assigned thereto in the Omnibus Agreement.
“Electronic Tracking Agreement” means an Electronic Tracking Agreement among Administrative Agent, Seller, MERS and MERSCORP Holdings, Inc., to the extent applicable as the same may be amended from time to time.
“Electronic Transmission” means the delivery of information in an electronic format acceptable to the applicable recipient thereof. An Electronic Transmission shall be considered written notice for all purposes hereof (except when a request or notice by its terms requires execution).
“Eligible Asset” means any Eligible Mortgage Loan, any Eligible Ginnie Mae Tail HMBS or the Eligible REO Asset.