(d) the commencement by such Person of a voluntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, or such Persons consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment of or taking possession by a receiver,
liquidator, assignee, trustee, custodian, sequestrator, conservator or other similar official of such Person, or for any substantial part of its property, or any general assignment for the benefit of creditors; or
(e) that such Person shall become insolvent; or
(f) such Person shall take any corporate action in furtherance of, or the action of which would result in any of the actions
set forth in the preceding clauses (a), (b), (c), (d) or (e).
Intellectual Property shall mean all rights, title
and interests in or relating to intellectual property and industrial property arising under any Requirement of Law.
Interest
Only Adjustment Date shall mean, with respect to each Interest Only Mortgage Loan, the date, specified in the related Mortgage Note on which the Monthly Payment will be adjusted to include principal as well as interest.
Interest Only Mortgage Loan shall mean a Mortgage Loan which only requires payments of interest for a period of time
specified in the related Mortgage Note.
Interest Rate Adjustment Date shall mean the date on which an adjustment to
the Mortgage Interest Rate with respect to each Mortgage Loan becomes effective.
Interest Rate Protection Agreement
shall mean, with respect to any or all of the Purchased Mortgage Loans, any short sale of a US Treasury Security, or futures contract, or mortgage related security, or Eurodollar futures contract, or options related contract, or interest rate swap,
cap or collar agreement, or similar arrangement providing for protection against fluctuations in interest rates or the exchange of nominal interest obligations, either generally or under specific contingencies, entered into by Seller.
Investment Company Act shall mean the Investment Company Act of 1940, as amended from time to time.
Jumbo Mortgage Loan shall mean a Mortgage Loan (i) where the original outstanding principal amount of such Mortgage
Loan exceeds the eligibility limits for purchases by Freddie Mac or Fannie Mae, (ii) that is originated in accordance with Buyers published guidelines and (iii) that is approved by Buyer in its sole discretion.
Legal Fee Cap shall have the meaning set forth in the Pricing
Side Letter.
Lien shall mean any lien, claim, charge,
restriction, pledge, security interest, mortgage, deed of trust or other encumbrance.
Loan Program Authority shall
mean, with respect to Government Mortgage Loans, the applicable Government Agency, and with respect to Jumbo Mortgage Loans, the applicable Take-out Investor (and if there is not a Take-out Investor, the Acquisition Guidelines).
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