Trust Receipt. Section 4 is hereby deleted in its entirety and replaced in its entirety with the following:
Trust Receipt. For each Non—Table Funded Mortgage Asset, the Administrative Agent shall have received from the Custodian on or before each Borrowing Date a Trust Receipt (along with a completed Mortgage Asset File Checklist attached thereto) and an Asset Schedule and Exception Report with respect to the Basic Mortgage Asset Documents for each Eligible Asset, in each case dated the Borrowing Date, duly completed and, in the case of the Asset Schedule and Exception Report, with exceptions acceptable to the Administrative Agent in its discretion in respect of Eligible Assets to be pledged hereunder on such Business Day. In the case of a Table Funded Mortgage Asset, the Administrative Agent shall have received on the related Borrowing Date the Table Funded Trust Receipt and all other items described in the second (2nd) sentence of Subsection 2.1(b)(6), each in form and substance satisfactory to the Administrative Agent in its discretion, provided that the Administrative Agent subsequently receives the items described in Subsections 2.1(b)(4) and (6) and the other delivery requirements under the Custodial Agreement on or before the date and time specified herein and therein, which items shall be in form and substance satisfactory to the Administrative Agent in its discretion. In the case of Term Loans, the Custodian shall have possession of all Mortgage Loan Documents for the Term Loan Collateral and the Administrative Agent shall be in receipt of Trust Receipts for the Term Loan Collateral and all other conditions under the Custodial Agreement are satisfied with respect to such Term Loan Collateral.
Trust Receipt. Custodian shall have delivered to Repo Agent a Trust Receipt, inventory report and exception report relating to such Purchased Loans.
Trust Receipt. A Trust Receipt, substantially in the form of Annex 2 of the Custodial Agreement, dated the Effective Date, from the Custodian, duly completed.
Trust Receipt. To cause the Custodian to deliver to Buyer a Mortgage Loan Schedule and Exception Report, and a Trust Receipt, no later than the date set forth in the Custodial Agreement. If upon examination of the documents included in any Mortgage File, the Custodian determines that such documents do not satisfy the requirements set forth in the Custodial Agreement, the Custodian shall xxxx such Mortgage Loan as an exception on its Mortgage Loan Schedule and Exception Report.
Trust Receipt. On or prior to 5:00 p.m. New York City time on the Closing Date, the Custodian shall deliver to the Purchaser and the Trustee via electronic transmission mutually acceptable to the Purchaser, the Custodian and the Trustee (or via facsimile in the event of a delivery failure via such electronic transmission) a Trust Receipt attaching a Mortgage Loan Schedule and Exception Report and indicating that, as to each Mortgage Loan listed in the attached Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification): (i) all documents required to be delivered to it are in its possession; (ii) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan; (iii) each Custodial File has been reviewed in accordance with the review procedures set forth in Exhibit 1 hereto; (iv) each Mortgage Note (except with respect to MERS Designated Mortgage Loans) has been endorsed as provided in Section 2(a); (v) with respect to each MERS Designated Mortgage Loan, the MIN Number for that Mortgage Loan conforms to the one set forth on the schedule provided to the Custodian and; (vi) the Custodian is holding each Mortgage Loan identified on the related Mortgage Loan Schedule pursuant to this Custodial Agreement, as the bailee of and custodian for the Trustee. The Custodian makes no representations as to: (i) the validity, legality, sufficiency, enforceability or genuineness of any of the documents contained in each Mortgage File of any of the Mortgage Loans identified on the Mortgage Loan Schedule, or (ii) the collectability, insurability, perfection, priority, effectiveness or suitability of any such Mortgage Loan. Notwithstanding anything herein to the contrary, the Custodian has made no determination and makes no representations as to whether (i) any endorsement is sufficient to transfer all right, title and interest of the party so endorsing, as Noteholder or assignee thereof, in and to that Mortgage Note or (ii) any assignment is in recordable form or sufficient to effect the assignment of and transfer to the assignee thereof, under the Mortgage to which the assignment relates. A list of any Exceptions outstanding shall also be included as part of the Mortgage Loan Schedule and Exception Report. On the Cut-off Date the Custodian shall provide to the Purchaser a Preliminary Mortgage Loan Schedule and Exception Report, via electron...
Trust Receipt. The Custodian shall execute and deliver to the Trustee and the Issuer a trust receipt substantially in the form of Exhibit A to evidence its possession of the Loan Documents.
Trust Receipt. The Purchaser shall have received from the Custodian a trust receipt in form and substance acceptable to the Purchaser with respect to the Custodian’s receipt of the Collateral Files for the related HELOCs.
Trust Receipt. Each trust receipt issued by the Custodian pursuant to the Custody Agreement, evidencing the entire beneficial ownership interest in the related Mortgage Loans. Underlying Agreement: [to be provided or omitted, as applicable]. Underlying Payment Date: [to be provided or omitted, as applicable]. Underlying Payment Date Statement: [to be provided or omitted, as applicable]. Underlying Loans: [to be provided or omitted, as applicable]. Underlying Securities: [to be provided or omitted, as applicable]. Underlying Securities Balance: $[ ]. Underlying Servicing Fee Rate: [to be provided or omitted, as applicable]. Underlying Trust Fund: [to be provided or omitted, as applicable]. Underlying Trustee: [to be provided or omitted, as applicable]. Underwriter: [ ].
Trust Receipt. Each trust receipt issued by the Custodian pursuant to the Custody Agreement, evidencing the entire beneficial ownership interest in the related Mortgage Loans. Underlying Agreement: [to be provided or omitted, as applicable].
