Gestation Collateral Sample Clauses

The Gestation Collateral clause defines the treatment and use of assets, typically loans or receivables, that are in the process of being originated but have not yet been fully funded or closed. In practice, this clause outlines how such in-progress assets are identified, tracked, and included as collateral in a financing arrangement, often specifying conditions under which they become eligible or ineligible as security. Its core function is to ensure that both parties understand the status and value of these developing assets, thereby reducing uncertainty and managing risk associated with collateral that is not yet fully realized.
Gestation Collateral. The Company may, from time to time, deliver a request to the Collateral Agent (or an Affiliate of the Collateral Agent) acting in its capacity as pool custodian, for the initial certification of Pledged Mortgages for purposes of creating a pool of Mortgage Loans to support the issuance of a FHLMC, FNMA or GNMA Security. Such request shall be in writing in the form of Exhibit 3.A to this Security Agreement, and such Pledged Mortgages shall constitute Gestation Mortgage Loans on the Business Day immediately following the Business Day on which such Pledged Mortgages are certified by the Collateral Agent (or an Affiliate of the Collateral Agent) in accordance with the standards of the applicable Federal Agency.
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Gestation Collateral. By 10:30 a.m. on the day that Associates is converting any Dry Borrowing to a Gestation Borrowing, Associates shall execute and deliver to Administrative Agent a Collateral-Conversion Notice.
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Related to Gestation Collateral

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Security Interests in Collateral To secure their Obligations under this Agreement and the other Loan Documents, the Loan Parties shall grant to the Collateral Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in all of the Collateral pursuant to the Security Documents.

  • Rights in Collateral; Priority of Liens Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties. Upon the proper filing of UCC financing statements, and the taking of the other actions required by the Required Lenders, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected Liens on the Collateral in favor of Agent, for the ratable benefit of Agent and Lenders.

  • Collateral Each of the Banks represents to the Agent and each of the other Banks that it in good faith is not relying upon any "margin stock" (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this Agreement.

  • Possessory Collateral Immediately upon Borrower's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including, without limitation, any Tangible Chattel Paper and any Investment Property consisting of certificated securities, Borrower shall deliver the original thereof to Lender together with an appropriate endorsement or other specific evidence of assignment thereof to Lender (in form and substance acceptable to Lender). If an endorsement or assignment of any such items shall not be made for any reason, Lender is hereby irrevocably authorized, as Borrower's attorney and agent-in-fact, to endorse or assign the same on Borrower's behalf.