Agency Audit shall mean any Applicable Agency, FHA and HUD audits, examinations, evaluations, monitoring reviews and reports of its origination and servicing operations.
Agency Eligible Mortgage Loan shall mean a Mortgage Loan that is in Strict Compliance with the applicable Agency Guide and the eligibility requirements specified for the applicable Agency Program, and is eligible for sale to or securitization by FHMLC, FNMA, or GNMA.
Agency Guide shall mean the FHLMC Guide, the FNMA Guide or the GNMA Guide, as applicable.
Agency Program shall mean the FHLMC Program, the FNMA Program or the GNMA Program, as applicable.
Anti-Money Laundering Laws shall have the meaning set forth in Paragraph 10(s).
Applicable Agency shall mean GNMA, FNMA or FHLMC, as applicable.
Approvals shall mean, with respect to Seller, the approvals obtained from the Applicable Agency or HUD in designation of Seller as a GNMA-approved issuer, a GNMA-approved servicer, a FHA-approved mortgagee, a VA-approved lender, a FNMA approved Seller/Servicer or a FHLMC approved Seller/Servicer, as applicable, in good standing.
Approved Title Insurance Company shall mean a title insurance company that has not been disapproved by Buyer in its reasonable discretion in a written notice delivered to the Seller by Buyer.
Applicable Margin shall have the meaning assigned thereto in the Pricing Side Letter.
Applicable Percentage shall have the meaning assigned thereto in the Pricing Side Letter.
Assignment of Mortgage shall mean, with respect to any Mortgage, an assignment of the Mortgage, notice of transfer or equivalent instrument in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the assignment of the Mortgage to Buyer.
Bankruptcy Code shall mean Title 11 of the United States Code, as amended from time to time.
Business Day or business day shall mean any day other than (i) a Saturday or Sunday, (ii) a day on which the New York Stock Exchange, the Federal Reserve Bank of New York, or banking and savings and loan institutions in the State of New York or the City of New York are closed, or (iii) a day on which trading in securities on the New York Stock Exchange or any other major securities exchange in the United States is not conducted.
Buyers Margin Percentage shall have the meaning assigned thereto in the Pricing Side Letter.
Cash Equivalents shall mean (a) securities with maturities of 90 days or less from the date of acquisition issued or fully guaranteed or insured by the United States Government or any agency thereof, (b) certificates of deposit and Eurodollar time deposits with maturities of 90 days or less from the date of acquisition and overnight bank deposits of any commercial bank having capital and surplus in excess of $[***], (c) repurchase obligations of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than seven days with respect to securities issued or fully guaranteed or insured by the United States Government, (d) commercial paper of a domestic issuer rated at least A-1 or the equivalent thereof by Standard and Poors Ratings Group (S&P) or P-1 or the equivalent thereof by Moodys Investors Service, Inc. (Moodys) and in either case maturing within 90 days after the day of acquisition, (e) securities with maturities of 90 days or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the