Common use of Acceptance by Indenture Trustee of the Home Loans Certain Substitutions Initial Certification by Custodian Clause in Contracts

Acceptance by Indenture Trustee of the Home Loans Certain Substitutions Initial Certification by Custodian.

Acceptance by Indenture Trustee of the Home Loans Certain Substitutions Initial Certification by Custodian. (a) The Indenture Trustee agrees to cause the Custodian to execute and deliver on the Closing Date an acknowledgment of receipt of the Indenture Trustee's Home Loan File for each Initial Home Loan, and the Indenture Trustee agrees to cause the Custodian to execute and deliver on any Subsequent Transfer Date an acknowledgment of receipt of the Indenture Trustee's Home Loan File for each Subsequent Home Loan. The Indenture Trustee declares that it will cause the Custodian to hold such documents and any amendments, replacements or supplements thereto, as well as any other assets included in the Trust Estate and delivered to the Custodian in trust, upon and subject to the conditions set forth herein for the benefit of the Securityholders and the Securities Insurer. The Indenture Trustee agrees, for the benefit of the Securityholders and the Securities Insurer, to cause the Custodian to review each Indenture Trustee's Home Loan File within 45 days after the Closing Date (or, with respect to any Qualified Substitute Home Loan or Subsequent Home Loan, within 45 days after the receipt by the Custodian thereof) and to cause the Custodian to deliver to the Transferor, the Seller, the Indenture Trustee, the Issuer, the Securities Insurer and the Servicer a certification to the effect that, as to each Home Loan listed in the Home Loan Schedule and as to each Subsequent Home Loan Listed in a Subsequent Home Loan Schedule (other than any Home Loan paid in full or any Home Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered to the Indenture Trustee pursuant to this Agreement are in its possession or in the possession of the Custodian on its behalf (other than as expressly permitted by Section 2.05(a)(ii) or 2.05(c)), (ii) all documents delivered by the Seller and the Transferor to the Custodian pursuant to Section 2.05 have been reviewed by the Custodian and have not been mutilated or damaged and appear regular on their face (handwritten additions, changes or corrections shall not constitute irregularities if initialed by the Obligor) and relate to such Home Loan, (iii) based on the examination of the Custodian on behalf of the Indenture Trustee, and