OLS Additional Receivables definition

OLS Additional Receivables. As defined in Section 2(a)(ii).
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OLS Additional Receivables. Each Advance Receivable in existence on any Business Day on and after the initial Funding Date and until the opening of business on the related MSR Transfer Date and which arises under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement Schedule as a result of OLS or a predecessor servicer making Advances with respect to such Designated Servicing Agreement.
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OLS Additional Receivables. As defined in the Receivables Sale Agreement.
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Examples of OLS Additional Receivables in a sentence

  • OLS will not transfer any of the OLS Additional Receivables with an intent to hinder, delay or defraud any Person.

  • OLS shall maintain accurate, complete and correct documents, books, records and other information which is reasonably necessary for the collection of all OLS Additional Receivables (including, without limitation, records adequate to permit the prompt identification of each new Receivable and all collections of, and adjustments to, each existing Receivable).

  • OLS is selling the OLS Additional Receivables to HLSS in furtherance of its ordinary business purposes, with no intent to hinder, delay or defraud any of its creditors.

  • OLS shall perform all actions necessary to sell and/or contribute, assign, transfer and convey the OLS Additional Receivables to HLSS and its assigns, including, without limitation, any necessary notifications to the MBS Trustees or other parties.

  • OLS shall from time to time, prior to the MSR Transfer Date, at its own expense, execute and file such additional financing statements (including continuation statements) as may be necessary to ensure that at any time, the interest of HLSS in all of the OLS Additional Receivables is fully protected in accordance with the UCC.

  • The aggregate consideration received by OLS, as initial receivables seller, pursuant to this Agreement is fair consideration having reasonably equivalent value to the value of the OLS Additional Receivables and the performance of the obligations of OLS, as initial receivables seller, hereunder.

  • OLS hereby covenants that, except for the transfer hereunder and as of any date on which OLS Additional Receivables are transferred, it will not sell, pledge, assign or transfer to any other Person, or grant, create, incur or assume any Adverse Claim on any of the OLS Additional Receivables, or any interest therein.

  • Prior to the related MSR Transfer Date, OLS shall, at its own expense, on or prior to the applicable Sale Date, in the case of OLS Additional Receivables, indicate in its books and records (including its computer records) that the Receivables arising under each Designated Servicing Agreement and the related OLS Transferred Assets have been sold to HLSS in accordance with this Agreement.

  • OLS has not authorized the filing of and is not aware of any financing statement filed against it, or HLSS covering the OLS Additional Receivables and the related OLS Transferred Assets other than those filed in connection with this Agreement, the Purchase Agreement and the other Transaction Documents and those that have been terminated prior to the date hereof or for which the lien with respect to the Receivables has been released.

  • The OLS Additional Receivables constitute “general intangibles,” “accounts” or “payment intangibles” within the meaning of the applicable UCC.

Related to OLS Additional Receivables

  • Initial Receivables means the Receivables transferred to the Trust on the Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment.

  • Principal Receivables means all Receivables other than Finance Charge Receivables. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit balances in the Accounts on such day.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Eligible Receivables means and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its sole credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if: