Examples of Loan Asset in a sentence
The Servicer will use efforts consistent with the Servicing Standard to collect all payments with respect to amounts due for Taxes, assessments and insurance premiums relating to each Loan Asset to the extent required to be paid to the Borrower for such application under the applicable Underlying Instruments and remit such amounts to the appropriate Governmental Authority or insurer as required by the Underlying Instruments.
The Servicer will provide the Administrative Agent (with a copy to the Collateral Agent) with prompt written notice of the occurrence of any Value Adjustment Event (excluding any Value Adjustment Event pursuant to which the determination thereof is made by the Administrative Agent independently and without notice from any other party) with respect to any Eligible Loan Asset of which the Servicer has knowledge or has received notice.
Subject to Section 6.04(d), the Servicer shall direct, or shall cause the Transferor to direct, any agent or administrative agent for any Loan Asset to remit all payments and collections with respect to such Loan Asset, and, if applicable, to direct the Obligor (or any administrative or paying agent) with respect to such Loan Asset to remit all such payments and collections with respect to such Loan Asset directly to the Collection Account.
The foregoing Grant shall, for the purpose of determining the property subject to the Lien of this Agreement, be deemed to include any securities and any investments Granted to the Collateral Agent by or on behalf of the Borrower, whether or not such securities or investments satisfy the criteria set forth in the definitions of "Eligible Loan Asset" or "Permitted Investments," as the case may be.
Notwithstanding the foregoing, the Borrower shall be permitted to sell or transfer any Defaulted Loan (subject to the immediately preceding sentence), any Loan Asset that has an Assigned Value of zero, any Margin Stock or any Equity Security to any Person at any time; provided that, during the continuance of an Event of Default, the prior written consent of the Administrative Agent (acting at the direction of the Required Lenders, each in its sole discretion) shall be required for any such sale.