Hazardous Material means any substance, product, waste, pollutant, material, chemical, contaminant, constituent, or other material which is or becomes listed, regulated, or addressed under any Environmental Law, including, without limitation, asbestos, petroleum, and polychlorinated biphenyls.
HUD means the U.S. Department of Housing and Urban Development and any successor.
Indemnified Taxes means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under this Agreement and (b) to the extent not otherwise described in (a), Other Taxes.
Intellectual Property means all copyrights, copyright licenses, patents, patent licenses, trademarks, trademark licenses and other types of intellectual property, in whatever form, now owned or hereafter acquired.
Interest Credit has the meaning set forth in Section 2.3.
IRS means the Internal Revenue Service or any entity succeeding to all or any of its functions.
Laws means any law, statute, code, ordinance, order, rule, regulation, judgment, decree, injunction, franchise, permit, certificate, license, authorization or other determination, direction or requirement (including any of the foregoing which relate to environmental standards or controls, energy regulations and occupational safety and health standards or controls) of any (domestic or foreign) arbitrator, court or other Governmental Authority.
Lender means the Person identified as such in the introductory paragraph hereto, and includes its successors and assigns.
Leverage Ratio means the ratio as of the last day of any fiscal quarter of (i) Debt as of such day, to (ii) Tangible Net Worth.
Lien means any lien, mortgage, security interest, tax lien, pledge, charge, hypothecation, assignment, preference, priority, or other encumbrance of any kind or nature whatsoever (including, without limitation, any conditional sale or title retention agreement), whether arising by contract, operation of law, or otherwise, but not including any licenses to use any Intellectual Property granted by Borrower in the Ordinary Course of Business.
Liquidity means, for any period, the amount of unrestricted cash and cash equivalents of Borrower, which cash and cash equivalents cannot be subject to any Lien.
List of Eligible Agency Servicing Rights means a list in a form acceptable to the Lender, signed by a Responsible Officer and submitted to the Lender from time to time with the Borrowing Request Form listing all Mortgage Loans related to the Pledged Agency Servicing Rights (Mortgage Loans in pools shall be listed by pool number although the Lender shall have the right to require lists of Mortgage Loans in such pools) and stating the portion of the current Borrowing Base evidenced by such Pledged Agency Servicing Rights.
List of Eligible Servicing Receivables means a list in a form acceptable to the Lender, signed by a Responsible Officer and submitted to the Lender along with any Borrowing Request Form, listing Eligible Servicing Receivables and stating the portion of the current Borrowing Base evidenced by such Eligible Servicing Receivables.
| || || || |
| || ||9 || ||Credit and Security Agreement|