Fidelity Insurance shall mean insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud.
Fiscal Quarter shall mean each period of three calendar months ending March 31, June 30, September 30 and December 31 of each year.
Fiscal Year shall mean each period of twelve (12) calendar months ending December 31 of each year.
Fannie Mae means the Federal National Mortgage Association or any successor thereto.
Freddie Mac means the Federal Home Loan Mortgage Corporation or any successor thereto.
GAAP means generally accepted accounting principles in the United States of America, consistently applied.
GNMA means the Government National Mortgage Association or any successor thereto.
Income shall mean, with respect to any Purchased Loan at any time, any principal, interest, dividends or other distributions payable thereon.
Index Rate shall have the meaning set forth on Schedule 4.
Investor Requirements means, with respect to any Mortgage Loan, the documentation and other requirements (including, without limitation, all those set forth in the applicable Sale Agreement and Takeout Commitment) for the purchase by the Approved Takeout Investor of such Mortgage Loan.
Leverage Ratio shall have the meaning set forth on Schedule 4.
Liabilities shall have the meaning set forth on Schedule 4.
Lien means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (whether statutory or otherwise), or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and the filing of any financing statement under the UCC or comparable law of any jurisdiction in respect of any of the foregoing).
Liquid Assets shall have the meaning set forth on Schedule 4.
Market Value at any time shall be determined by Buyer, in its sole and absolute discretion, based upon information then available to Buyer regarding quotes to dealers for the purchase of mortgage notes similar to the Mortgage Notes that have been delivered to Buyer pursuant to this Agreement.