P., an excellent Delaware minimal partnership, while the same ended occasionally
Burden shall mean any lien, mortgage, deed of trust, right-of-way, right of setoff, assessment, security interest, pledge, lease, attachment, adverse claim, levy, charge, easement, restriction, license, encumbrance, or other similar restriction or any conditional sale Contract, title retention Contract, option to purchase or lease, right of first refusal or offer, restriction on transfer, preemptive right or other Contract giving rise to any of the foregoing.
Escrow Profile shall mean all escrow and impound accounts relating to the HELOCs including, without limitation, all accounts established for purposes of receiving funds for Escrow Payments, suspense, buydown funds, unapplied balances, replacement reserve balances, loss draft balances (including interest accrued thereon for the benefit of the Mortgagors under the HELOCs if required by applicable Law or the applicable Mortgage Files), completion escrow monies and any other miscellaneous cash balances held with respect to the HELOCs.
Escrow Payments shall mean, with respect to any HELOC, to the extent applicable, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, flood insurance premiums, condominium charges and other payments required to be escrowed by the Mortgagor with the
Mortgagee pursuant into terms of any HELOC, the new associated Financial or other file regarding associated Mortgage Document otherwise Equity Document.
Present Servicing Agreement shall mean the Third Amended and Restated Flow Servicing Agreement, dated , by and between Servicer and PennyMac Operating Partnership, L.
should mean, for go out, the speed per annum (game up, if necessary, towards the nearby 1/100th of 1%) equivalent to the average of pricing for the overnight federal fund deals which have people in brand new Government Set-aside Program put up by government loans brokers on such as for example day, given cash advance Rainbow City Alabama that written by this new Federal Set aside Lender of the latest York for the the company Big date second succeeding particularly time; provided in the event the particularly day isnt a business Time otherwise the fresh new isnt very authored for your time, the fresh getting for example go out is going to be such as for example rate toward particularly purchases for the next Working day since the very wrote on next succeeding Business day.
Government Fund Rates
FIRREA shall mean, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and any regulations promulgated thereunder, each as amended, and in effect as of the applicable date of determination.
Freddie Mac shall mean the entity formally known as the Federal Home Loan Mortgage Corporation (FHLMC) or any successor thereto.
Important Representations shall mean, with respect to Seller, the representations in Parts 4.step 1, 4.2(a), cuatro.2(b), 4.2(c)(i), cuatro.2(c)(iv), cuatro.3 and 4.8 and, with respect to Purchaser, the representations in Sections 5.step one, 5.2(a), 5.2(b), 4.2(c)(i) and 5.2(c)(iv).
should imply any applicable national, supranational, government, state, regional, provincial or any other political, regulating or management power, agency otherwise payment or any court, tribunal, otherwise judicial or arbitral body out of skilled jurisdiction.
HELOCs shall mean all adjustable-rate, first and second lien revolving home equity line of credit loans identified on the related Mortgage Loan Schedule including, to extent related thereto, all scheduled and unscheduled payments, liquidation proceeds, insurance proceeds, condemnation proceeds, real estate owned disposition proceeds, any escrow amounts related to the HELOC, all Additional Balances with respect thereto, the related Mortgage Files and all other rights, benefits, proceeds and obligations arising from or in connection with the HELOC.
HELOC Rate of interest shall mean the rate of interest borne on such HELOC in accordance with the applicable Credit Agreement.
Political Organization
Large Costs Mortgage shall mean a HELOC that is (a) a high cost mortgage loan under the Home Ownership and Equity Protection Act of 1994, as amended, (b) a high cost home, threshold, covered, high risk home, predatory, abusive, or similarly defined loan, including refinance loans, under any other applicable state, federal or local law or regulation (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees) or (c) categorized as High Cost pursuant to Appendix E of Standard & Poor’s LEVELS Glossary, as revised from time to time. For avoidance of doubt, the parties agree that this definition shall apply to any law regardless of whether such law is presently, or in the future becomes, the subject of judicial review or litigation.