Acceptance of Mortgage Loans. The documents delivered pursuant to Section 4(b) hereof shall be reviewed by the Purchaser or any assignee, transferee or designee of the Purchaser at any time before or after the Closing Date (and with respect to each document permitted to be delivered after the Closing Date within seven days of its delivery) to ascertain that all required documents have been executed and received and that such documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule.
Acceptance of Mortgage Loans. (a) To evidence the transfer of the Mortgage Loans and related Mortgage Files to the Collateral Agent, on behalf of the Indenture Trustee, the Collateral Agent shall deliver the acknowledgement of receipt, the Initial Certification and the Final Certification required to be delivered pursuant to Section 2.06(b) of the Sale and Servicing Agreement.
(b) The Sale and Servicing Agreement provides that, if the Collateral Agent during the process of reviewing the Indenture Trustee's Mortgage Files, finds any document constituting a part of an Indenture Trustee's Mortgage File which is not executed, has not been received, is unrelated to the Mortgage Loan identified in the Mortgage Loan Schedule, or does not conform to the requirements of Section 2.05 of the Sale and Servicing Agreement or the description thereof as set forth in the Mortgage Loan Schedule, the Collateral Agent shall promptly so notify the Servicer, the Unaffiliated Seller, the Indenture Trustee, the related Originator and the Note Insurer. The Unaffiliated Seller and the Originators agree that in performing any such review, the Collateral Agent may conclusively rely on the Unaffiliated Seller and the Originators as to the purported genuineness of any such document and any signature thereon. Each of the Originators and the Unaffiliated Seller agrees to use reasonable efforts to remedy a material defect in a document constituting part of an Indenture Trustee's Mortgage File of which it is notified. If, however, within sixty (60) days after such notice neither the Unaffiliated Seller nor any Originator has remedied the defect and the defect materially and adversely affects the interest of the Noteholders in the related Mortgage Loan or the interests of the Note Insurer, then the Unaffiliated Seller and the Originators shall be obligated to either substitute in lieu of such Mortgage Loan a Qualified Substitute Mortgage Loan or purchase such Mortgage Loan in the manner and subject to the conditions set forth in Section 3.05 hereof.
(c) The failure of the Collateral Agent, the Indenture Trustee or the Note Insurer to give any notice contemplated herein within the time periods specified above shall not affect or relieve the Unaffiliated Seller's or the Originators obligation to repurchase for any Mortgage Loan pursuant to this Section 2.06 or Section 3.05 of this Agreement.
Acceptance of Mortgage Loans. (a) Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed to execute and deliver on or prior to the Closing Date an acknowledgment of receipt of, for each Mortgage Loan, the items listed in Section 2.04(a)-(e) above with respect to each Mortgage Loan (with any exceptions noted), in the form attached as Exhibit E-1 to the Pooling and Servicing Agreement, and declares that it will hold such documents and any amendments, replacements or supplements thereto, as well as any other assets included in the definition of Trust Fund in the Pooling and Servicing Agreement and delivered to the Trustee, as Trustee in trust upon and subject to the conditions set forth in the Pooling and Servicing Agreement for the benefit of the Certificateholders and the Certificate Insurer. Pursuant to the Pooling and Servicing Agreement, the Trustee has agreed, for the benefit of the Certificateholders and the Certificate Insurer, to review (or cause to be reviewed) each Trustee's Mortgage File within 15 days after the Closing Date (or, with respect to any Qualified Substitute Mortgage Loan, within 15 days after the receipt by the Trustee thereof) and to deliver to the initial Certificateholders, the Unaffiliated Seller, the Master Servicer and the Certificate Insurer a certification in the form attached to the Pooling and Servicing Agreement as Exhibit E-2 to the effect that, as to each Mortgage Loan listed in the related 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 pursuant to the Pooling and Servicing Agreement are in its possession (other than those described in Section 2.04(f) thereto), (ii) each such document has been reviewed by it and has not been mutilated, damaged, torn or otherwise physically altered (handwritten additions, changes or corrections shall not constitute physical alteration if initialed by the Mortgagor), appears regular on its face and relates to such Mortgage Loan, and (iii) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule (other than items (ii), (iii), (v), (vii), (ix) and (xii) of the definition of Mortgage Loan Schedule) accurately reflects the information set forth in the Trustee's Mortgage File delivered on such date. Pursuant to the Pooling and Servicing Agreement, the Trustee shall b...
Acceptance of Mortgage Loans. The documents delivered pursuant to Section 4(b) hereof shall be reviewed by the Purchaser or any assignee, transferee or designee of the Purchaser at any time before or after the Closing Date (and each document permitted to be delivered after the Closing Date within seven (7) days of its delivery) to ascertain that all required documents have been executed and received and that such documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. If the Purchaser or any assignee, transferee or designee of the Purchaser discovers that any material document is missing or is defective in any material respect, the Seller shall correct or cure any such omission or defect or shall repurchase or substitute for the affected Mortgage Loan in accordance with the terms of Section 7(a) hereof and Section 2.03 of the Pooling and Servicing Agreement. At the time of such repurchase, the Purchaser shall, in exchange for a written receipt therefor, release such documents relating to such Mortgage Loan as are then in its possession to the Seller.
Acceptance of Mortgage Loans. Section 2.6 Transfer of Mortgage Loans; Assignment of Agreement ............................................. 10 Section 2.7 Examination of Mortgage Files ......................... 10 Section 2.8
Acceptance of Mortgage Loans. The documents delivered ---------------------------- pursuant to Section 4(b) hereof shall be reviewed by the Purchaser or any assignee, transferee or designee of the Purchaser at any time before or after the Closing Date (and with respect to each document permitted to be delivered after the Closing Date within seven days of its delivery) to ascertain that all required documents have been executed and received and that such documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule.
Acceptance of Mortgage Loans. Pursuant to Section 2.02 and 2.03 of the Pooling and Servicing Agreement, if the Purchaser or an assignee thereof, which may include the Trustee or the Custodian on its behalf, discovers or receives notice of a Document Defect or a Breach (each as defined in the Pooling and Servicing Agreement), the Mortgage Loan Seller shall correct or cure any such Document Defect or Breach or repurchase or substitute such Defective Mortgage Loan in accordance with Section 3.3 of this Agreement.
Acceptance of Mortgage Loans. Within 90 days of the Closing Date, the Purchaser or an assignee thereof, which may include the Trustee or a Custodian on its behalf, shall complete a review of each of the Mortgage Loan Documents delivered or caused to be delivered by the Mortgage Loan Seller constituting the Mortgage Files and shall certify, as to each Mortgage Loan, that (i) all documents required to be delivered pursuant to Section 2.4 are in its possession, (ii) such documents appear regular on their face and relate to such Mortgage Loan, and (iii) based on the examinations referred to in this Section 2.5 and only as to the foregoing documents, the information set forth in the Mortgage Loan Schedule with respect to the items specified in clauses (i), (ii)(a), (iv), (v), (vii) and (x)(c) of the definition of "Mortgage Loan Schedule" set forth in the Pooling and Servicing Agreement is correct. If the Purchaser or such assignee discovers or receives notice that any such document described in the first or second preceding sentence is a Defective Document Mortgage Loan, the Mortgage Loan Seller shall correct or cure any such omission or defect or repurchase such Defective Document Mortgage Loan in accordance with Section 3.3 of this Agreement. [End of Article II]
Acceptance of Mortgage Loans. Prior to each sale of Mortgage Loans by Seller to Purchaser hereunder, Seller shall deliver to Purchaser a custodial trust receipt. If at any time Purchaser or the Custodian discovers or receives notice that any Mortgage Loan Document is missing or defective in any material respect with respect to any Mortgage Loan, Seller shall cause the Correspondent to correct or cure any such omission or defect or, if such omission or defect materially impairs the value of the Mortgage Loan, repurchase the defective Mortgage Loan, as set forth in the related Purchase Agreement. At the time of such repurchase, the Custodian shall release documents in its possession relating to such Mortgage Loan to Correspondent. The fact that Purchaser, the Custodian or a designee of any such entity has conducted or has failed to conduct any partial or complete examination of the Mortgage Loan Documents prior to the Closing Date shall not affect the rights of Purchaser (or any assignee or successor thereof) to demand repurchase or other relief a s provided herein.
Acceptance of Mortgage Loans. Section 2.06 Transfer of Mortgage Loans; Assignment of Agreement....
