REO Subsidiary Sample Clauses

The REO Subsidiary clause defines the establishment or use of a subsidiary entity specifically for holding and managing real estate owned (REO) properties, typically acquired through foreclosure or similar processes. In practice, this clause allows a lender or investor to transfer ownership of such properties into a separate legal entity, isolating the assets and liabilities associated with the REO properties from the parent company. This structure helps manage risk, streamline property management, and protect the parent company from potential legal or financial exposure related to the REO assets.
REO Subsidiary. The Membership Certificate represents 100% of the beneficial ownership of the REO Subsidiary, and the Seller or the REO Subsidiary, as applicable, continues to hold legal title to all REO Property related to foreclosures of HECM Buyout Loans that are subject to a Transaction. The representations and warranties set forth in this Agreement shall survive transfer of the Purchased Assets to the Purchaser and shall continue for so long as the Purchased Assets are subject to this Agreement.
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REO Subsidiary. The Borrower shall have established an REO Subsidiary and complied with the provisions set forth in Section 4.11 with respect to such REO Subsidiary.
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REO Subsidiary. The REO Asset represents 100% of the beneficial ownership of REO Subsidiary, and REO Subsidiary continues to hold legal title to all REO Property subject to a Transaction. The representations and warranties set forth in this Agreement shall survive transfer of the Purchased Assets to Purchasers and shall continue for so long as the Purchased Assets are subject to this Agreement.
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Related to REO Subsidiary

  • U.S. Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Material Subsidiary Prompt notice of any Person becoming a Material Subsidiary;

  • Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Subsidiary For purposes of this Agreement, the term “subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.

  • Real Property Holding Company The Company is not a real property holding company within the meaning of Section 897 of the Code.