Servicing Portfolio. The Company shall not commit or suffer to be committed any act which would constitute a breach of any contract to which he Company now or hereafter becomes a party under which the Company is obligated to service Loans for a third party. The Company shall not pledge, assign, grant a security interest in, or otherwise encumber any servicing rights or any other interest in its Servicing Portfolio without the prior written consent of the Bank. The Company shall not permit the Servicing Portfolio to include any recourse servicing obligations other than those recourse servicing obligations which exist as of the date of this Agreement and which are identified in the form acceptable to Bank.
Appears in 2 contracts
Sources: Warehousing Credit Agreement (New York Mortgage Trust Inc), Warehousing Credit Agreement (New York Mortgage Trust Inc)