Additional Interests. If any Seller shall, as a result of its interest in the REO Subsidiary Interests, become entitled to receive or shall receive any certificate evidencing any equity interest, any option rights, or any equity interest in the REO Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Interests, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Interests upon the liquidation or dissolution of the REO Subsidiary shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Interests shall be received by a Seller, such Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, as additional security for the Obligations.
Appears in 2 contracts
Sources: Master Repurchase Agreement, Master Repurchase Agreement (New Century Financial Corp)
Additional Interests. If any Seller PMC shall, as a result of its interest in ownership of the REO Subsidiary Interests, Interests become entitled to receive or shall receive any certificate evidencing any trust interest or other equity interest, any option rights, or any equity interest in the REO Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Interests, or otherwise in respect thereof, such Seller PMC shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller PMC to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Interests upon the liquidation or dissolution of the REO Subsidiary shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Interests shall be received by a SellerPMC, such Seller PMC shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, PMC as additional security for the Obligations.
Appears in 2 contracts
Sources: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Additional Interests. If any a Seller shall, as a result of its interest in ownership of the REO Subsidiary InterestsPurchased Assets, become entitled to receive or shall receive any certificate evidencing any Purchased Assets or other equity interest, any option rights, or any equity interest in the REO SubsidiaryPurchased Certificates, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary InterestsPurchased Assets, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, or if requested, deliver the Purchased Assets re-registered in the name of Buyer, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Interests Purchased Certificates upon the liquidation or dissolution of the REO a Seller Subsidiary Party, or otherwise shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default Default, any sums of money or property so paid or distributed in respect of the REO Subsidiary Interests Purchased Assets shall be received by a Seller, such Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, Seller as additional security for the Obligations.
Appears in 2 contracts
Sources: Master Repurchase Agreement (Altisource Residential Corp), Master Repurchase Agreement (Altisource Residential Corp)
Additional Interests. If any Seller PMC shall, as a result of its interest in ownership of the REO Subsidiary Interests, Interests become entitled to receive or shall receive any certificate evidencing any REO Subsidiary Interest or other equity interest, any option rights, or any equity interest in the REO Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Interests, or otherwise in respect thereof, such Seller PMC shall accept the same as the agent for Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller PMC to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Interests upon the liquidation or dissolution of the REO Subsidiary shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Interests shall be received by a SellerPMC, such Seller PMC shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, PMC as additional security for the Obligations.
Appears in 1 contract
Sources: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Additional Interests. If any Seller shall, as a result of its interest in ownership of the REO Subsidiary InterestsPurchased Certificate, become entitled to receive or shall receive any certificate evidencing any equity interest, any option rights, or any equity interest in the REO SubsidiaryPurchased Certificate, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary InterestsPurchased Certificate, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, or, if requested, deliver the Purchased Certificate re-registered in the name of Buyer, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Pass-Through Trust Interests upon the liquidation or dissolution of the REO Subsidiary Pass-Through Trust or otherwise shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default Default, any sums of money or property so paid or distributed in respect of the REO Subsidiary Pass-Through Trust Interests shall be received by a Seller, such Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, Seller as additional security for the Obligations.
Appears in 1 contract
Additional Interests. If any Seller PMC shall, as a result of its interest in ownership of the REO Subsidiary Interests, Interests become entitled to receive or shall receive any certificate evidencing any trust interest or other equity interest, any option rights, or any equity interest in the any REO Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Interests, or otherwise in respect thereof, such Seller PMC shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller PMC to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Interests upon the liquidation or dissolution of the any REO Subsidiary shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Interests shall be received by a SellerPMC, such Seller PMC shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, PMC as additional security for the Obligations.
Appears in 1 contract
Sources: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Additional Interests. If any Seller shall, as a result of its interest in ownership of the REO Subsidiary Trust Interests, become entitled to receive or shall receive any certificate evidencing any trust interest or other equity interest, any option rights, or any equity interest in the REO Trust Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Trust Interests, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s 's agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, or if requested, deliver the Trust Interests re-registered in the name of Buyer, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Trust Interests upon the liquidation or dissolution of the REO Trust Subsidiary or otherwise shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Trust Interests shall be received by a Seller, such then Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the SellersSeller, as additional security for the Obligations.
Appears in 1 contract
Sources: Master Repurchase Agreement (Altisource Residential Corp)
Additional Interests. If any a Seller shall, as a result of its interest in the REO Subsidiary InterestsStock, become entitled to receive or shall receive any certificate evidencing any equity interest, any option rights, rights or any other equity interest in the REO Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the such REO Subsidiary InterestsStock, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s 's agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, to be held by the Buyer subject to the terms hereof as additional security for and applied to the payment of the Obligations. Any sums paid upon or in respect of the REO Subsidiary Interests Stock upon the liquidation or dissolution of the REO Subsidiary shall be paid over to the Buyer as additional security for and applied to the payment of the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Interests Stock shall be received by a the related Seller, such Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellerssuch Seller, as additional security for the Obligations.
Appears in 1 contract
Sources: Master Repurchase Agreement (Novastar Financial Inc)
Additional Interests. If any Seller shall, as a result of its interest in ownership of the REO Subsidiary Trust Interests, become entitled to receive or shall receive any certificate evidencing any trust interest or other equity interest, any option rights, or any equity interest in the REO Trust Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Trust Interests, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, or if requested, deliver the Trust Interests re-registered in the name of Buyer, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Trust Interests upon the liquidation or dissolution of the REO Trust Subsidiary or otherwise shall be paid over to the Buyer as additional security for the Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary Trust Interests shall be received by a Seller, such then Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the SellersSeller, as additional security for the Obligations.
Appears in 1 contract
Sources: Master Repurchase Agreement (Altisource Residential Corp)
Additional Interests. If any Seller Sellers shall, as a result of its their interest in the REO Subsidiary LLC Interests, become entitled to receive or shall receive any certificate evidencing any limited liability company interest or other equity interest, any option rights, or any equity interest in the REO Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary LLC Interests, or otherwise in respect thereof, such Seller Sellers shall accept the same as the Buyer’s 's agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed endorsed by such Seller Sellers to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary LLC Interests upon the liquidation or dissolution of the REO Subsidiary shall be paid over to the Buyer as additional security for the any outstanding Obligations. If following the occurrence and during the continuation of an Event of Default any sums of money or property so paid or distributed in respect of the REO Subsidiary LLC Interests shall be received by a SellerSellers, such Seller Sellers shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the Sellers, as additional security for the Obligations.
Appears in 1 contract
Sources: Master Repurchase Agreement (American Home Mortgage Investment Corp)
Additional Interests. If any Seller shall, as a result of its interest in ownership of the REO Subsidiary Trust Interests, become becomes entitled to receive or shall receive any certificate evidencing any trust interest or other equity interest, any option rights, or any equity interest in the REO Trust Subsidiary, whether in addition to, in substitution for, as a conversion of, or in exchange for the REO Subsidiary Trust Interests, or otherwise in respect thereof, such Seller shall accept the same as the Buyer’s agent, hold the same in trust for the Buyer and deliver the same forthwith to the Buyer in the exact form received, duly indorsed by such Seller to the Buyer, if required, together with an undated transfer power, if required, covering such certificate duly executed in blank, or if requested, deliver the Trust Interests re-registered in the name of Buyer, to be held by the Buyer subject to the terms hereof as additional security for the Obligations. Any sums paid upon or in respect of the REO Subsidiary Trust Interests upon the liquidation or dissolution of the REO Trust Subsidiary or otherwise shall be paid over to the Buyer as additional security for the Obligations. If If, following the occurrence and during the continuation of an Event of Default Default, any sums of money or property so paid or distributed in respect of the REO Subsidiary Trust Interests shall be received by a Seller, such then Seller shall, until such money or property is paid or delivered to the Buyer, hold such money or property in trust for the Buyer segregated from other funds of the SellersSeller, as additional security for the Obligations.. 126103752\V-5
Appears in 1 contract
Sources: Master Repurchase Agreement (Angel Oak Mortgage REIT, Inc.)