Acceptance by Custodian. Subject to the provisions of the following paragraph, pursuant to the Custodial Agreement, the Custodian, on behalf of the Trustee, will declare that it holds and will hold the documents delivered to it pursuant to Section 2.01(a) above and the other documents constituting a part of the Owner Mortgage Loan Files or Retained Mortgage Loan Files (after the occurrence of a Document Transfer Event) delivered to it in trust, upon the trusts herein set forth, for the use and benefit of all present and future Certificateholders. Upon execution of this Agreement, the Custodian will deliver to the Depositor and the Trustee an initial certification in the form of Exhibit N hereto, to the effect that, except as may be specified in a list of exceptions attached thereto, it has received the original Mortgage Notes relating to each Mortgage Loan on the Mortgage Loan Schedule. The Custodian will review each Owner Mortgage Loan File within 45 days after execution of this Agreement. The Custodian will deliver no later than 30 days after completion of such review to the Depositor and the Trustee a final certification in the form of Exhibit O hereto to the effect that, except as may be specified in a list of exceptions attached thereto, all required documents set forth in Section 2.01(a) have been executed and received and appear regular on their face, and that such documents relate to the Mortgage Loans identified in the Mortgage Loan Schedule based on a comparison of the Mortgage Loan identifying number, Mortgagor name and street address, and in so doing the Custodian may rely on the purported due execution and genuineness of any such document and on the purported genuineness of any signature thereon. If there are exceptions attached to the final certification, the Depositor shall have a period of 60 days after the date of receipt of the final certification within which to correct or cure any such defects. The Depositor hereby covenants and agrees that, if any material defect is not so corrected or cured, the Depositor will, not later than 60 days after receipt of the final certification referred to above respecting such defects, either (i) repurchase the related Mortgage Loan or any property acquired in respect thereof from the Trust Estate at a price equal to the Repurchase Price or (ii) if within two years of the Startup Day, or such other period permitted by the REMIC Provisions, substitute for any Mortgage Loan to which such material defect relates, a new mortgage loa...
Acceptance by Custodian. Section 2.03 Representations and Warranties of the Master Servicer and the Seller....................................................... Section 2.04 Execution and Delivery of Certificates............................
Acceptance by Custodian. 68 Section 2.03 Repurchase or Substitution of Mortgage Loans by the Depositor.....................................................70 Section 2.04 Representations and Warranties of the Depositor with respect to the Mortgage Loans.................................72 Section 2.05 Representations, Warranties and Covenants of the Servicer...
Acceptance by Custodian. The Account shall be established upon the receipt and acceptance of the Application. The Custodian shall maintain the Account for the benefit of the Participant according to the terms and conditions of the Agreement.
Acceptance by Custodian. Section 2.03 Repurchase or Substitution of Mortgage Loans by the Depositor....
Acceptance by Custodian. The Custodian hereby acknowledges that, on the Closing Date (as defined in the Underwriting Agreement), the Custodian has received the Treasury Strips listed in Schedule 1 in accordance with the Purchase Contract Agreement, and in the manner described in, Section 2.01. The Custodian agrees to accept additional free deliveries of Treasury Strips in accordance with the terms of the Purchase Contract Agreement, including, without limitation, pursuant to Section 2.04 of the Purchase Contract Agreement and/or in connection with any exercise by the Underwriters (as defined in the Underwriting Agreement) of their option to purchase additional Purchase Contracts pursuant to Section 2(b) of the Underwriting Agreement. The Custodian shall accept all Treasury Strips delivered (or caused to be delivered) free hereunder as custodian for the Holders and the Custodian shall hold the Treasury Strips in a separate Custody Account as defined in and as provided in Section 2.04 for and on behalf of the Holders. The Custodian shall hold the Treasury Strips delivered to it pursuant to this Agreement solely as custodian and not as a fiduciary, identified separate and apart from the general assets of the Custodian for and on behalf of the Holders. The Custodian shall not have the authority or obligation to assign, transfer, pledge, set off or otherwise dispose of any of the Treasury Strips, or of any interests therein, except as provided hereunder or as required by law.
Acceptance by Custodian. In lieu of the custodian’s signature on the XXX application, acceptance and execution of this agreement by the Custodian is evidenced by the custodian’s establishment of a Custodial account for the Participant.
Acceptance by Custodian. Section 2.03 Representations and Warranties of the Master Servicer and the Depositor...................................................6 Section 2.04 Execution and Delivery of Certificates..........................15 Section 2.05 Designation of Certificates; Designation of Startup Day and Latest Possible Maturity Date..............................15
Acceptance by Custodian. With respect to all Pool Assets delivered to and deposited with the Custodian by the Seller hereunder, the Custodian agrees to act as the agent and bailee for and on behalf of the Seller and the Purchasers, and to perform the functions and services and exercise the authority conferred on it by the Seller and the Purchasers pursuant to this Agreement. Subject to the terms and conditions hereof, the Custodian hereby acknowledges its acceptance, as agent and bailee for and on behalf of the Seller and the Purchasers, of the delivery and deposit of all of the Seller's present and future right, title and interest in, to and under the Pool Assets.
Acceptance by Custodian. 40 Section 2.3 Representations and Warranties of the Depositor with respect to the Mortgage Loans..........................................43 Section 2.4 Authentication and Delivery of Certificates; Designation of Certificates as REMIC Regular and Residual Interests.........
