Assignment of Mortgage Loans. The Initial Owner shall have the right to assign its interest under this Agreement with respect to the Mortgage Loans in whole but not in part and designate any person to exercise any rights of the Owner hereunder with respect to the Mortgage Loans, and the assignee or designee shall accede to the rights and obligations hereunder of the Owner with respect to the Mortgage Loans; provided, however, that (i) the Mortgage Loans shall at all times be subject to the terms of this Agreement; and (ii) the Initial Owner may assign its interest under this Agreement to no more than three Persons; and provided further, however, that the company shall be given thirty days’ prior written notice before any such assignment shall be effective. Prior to assigning its interests under this Agreement, the Owner shall deliver a copy of this Agreement to such assignee or designee. Each assignee or designee may assign its interest in the Mortgage Loans owned by it in whole, and not in part, to no more than three Persons; provided, however, that at no time may there be more than three Owners. No sale or transfer of the Mortgage Loans or assignment of this Agreement shall be binding upon the Company for any purpose under this Agreement unless the Owner proposing to make such sale, transfer or assignment and its prospective assignee have executed and delivered to the Company (with a copy to the Custodian) an assignment and assumption agreement in the form of Exhibit E annexed hereto and the Company has acknowledged such agreement. No sale of the Mortgage Loans shall be made to any employee benefit plan or other plan that is subject to ERISA or Section 4975 of the Code (each, a “Plan”) or to any person or entity that is investing on behalf of or with “plan assets” of any Plan or to any insurance company, other than an insurance company investing with funds held in its general account (if such funds do not include “plan assets” of any Plan), unless the Owner’s prospective assignee provides the Company with a certification or Opinion of Counsel or both, which establishes to the Company’s satisfaction that such disposition will not constitute or result in a non-exempt prohibited transaction under Section 406 of ERISA and Section 4975 of the Code. The Company shall not be required to pay any costs or expenses incurred in connection with obtaining such Opinion of Counsel. The Company may require that such prospective assignee certify to the Company in writing the facts establishing that s...
Assignment of Mortgage Loans. The Seller will take no action inconsistent with the Buyer's ownership of the Mortgage Loans. If a third party, including a potential buyer of the Mortgage Loans from the Buyer, should inquire, the Seller will promptly indicate that ownership of the Mortgage Loans has been absolutely assigned to the Buyer. If the Mortgage Loan is registered on the MERS(R) System, the Seller shall enter the name of the Buyer in the "interim funder" category of such system with respect to such Mortgage Loan.
Assignment of Mortgage Loans. 83 SECTION 2.04
Assignment of Mortgage Loans. (a) The Seller shall cause an Assignment of Mortgage with respect to each Mortgage Loan (other than a MERS Designated Mortgage Loan) to be completed in the form and substance acceptable for recording in the relevant jurisdiction, such assignment shall either be in blank or be endorsed to "[ - ], as Trustee of the Luminent Mortgage Trust 200_-_, Mortgage Pass-Through Certificates, Series 200_-_, without recourse," on or prior to the Closing Date; provided, however, that such Assignments of Mortgage Loans need not be recorded unless and until the Trustee is advised by a Rating Agency that such Assignment of Mortgage is required to be recorded to protect the Trustee's interest in the Mortgage Loans. Any such recordation of an Assignment of Mortgage shall be effected at the expense of the Seller.
Assignment of Mortgage Loans. 15 Section 2.04 Representations and Warranties of the Company............. 16 Section 2.05 Representations, Warranties and Covenants of the Initial Owner.......................................... 23 Section 2.06 Protection of Confidential Information and Consumer Information............................................ 24 Section 2.07 First Payment Default..................................... 25 Section 2.08 Delivery of Collateral Documents.......................... 25 ARTICLE III Administration and Servicing of Mortgage Loans
Assignment of Mortgage Loans. (a) The Seller shall cause an Assignment of Mortgage with respect to each Mortgage Loan (other than a MERS Designated Mortgage Loan) to be completed in the form and substance acceptable for recording in the relevant jurisdiction, such assignment shall either be in blank or be endorsed to "HSBC Bank USA, National Association, as Trustee of Luminent Mortgage Trust 2006-7, Mortgage Pass-Through Certificates, Series 2006-7," without recourse," on or prior to the Closing Date. Except upon request of the applicable Servicer, the Assignments of Mortgage need not be recorded.
Assignment of Mortgage Loans. (a) Each Seller shall cause an Assignment of Mortgage with respect to each Mortgage Loan (other than a MOM Loan) to be completed in the form and substance acceptable for recording in the relevant jurisdiction, such assignment shall either be in blank or be endorsed to “JPMorgan Chase Bank, National Association, as Trustee of the First NLC Trust 2005-2, Mortgage-Backed Certificates, Series 2005-2, without recourse,” within 30 days following the Closing Date. Any such recordation of an Assignment of Mortgage shall be effected at the expense of the applicable Seller.
Assignment of Mortgage Loans. (a) Each Seller shall cause an Assignment of Mortgage with respect to each Mortgage Loan (other than a MOM Loan) to be completed in the form and substance acceptable for recording in the relevant jurisdiction, such assignment being either (A) in blank, without recourse, or (B) or endorsed to “ , as Indenture Trustee of the First NLC Securitization Trust 200 - , Asset-Backed Notes, Series 200 - , without recourse,” within 30 days following the Closing Date; provided, however, that such Assignment of Mortgage need not be recorded unless and until the Indenture Trustee determines, in its good faith business judgment, that such Assignment of Mortgage is required to be recorded to protect the Indenture Trustee’s interest in the related Mortgage Loans. Any such recordation of an Assignment of Mortgage shall be effected at the expense of the applicable Seller.
Assignment of Mortgage Loans. (a) The Seller shall cause an Assignment of Mortgage with respect to each Mortgage Loan (other than a MERS Designated Mortgage Loan) to be completed in the form and substance acceptable for recording in the relevant jurisdiction, such assignment shall either be in blank or be endorsed to “[ - ], as Trustee of the First NLC Trust 200 - , Mortgage-Backed Certificates, Series 200 - , without recourse,” on or prior to the Closing Date; provided, however, that such Assignments of Mortgage Loans need not be recorded unless and until the Trustee is advised by a Rating Agency that such Assignment of Mortgage is required to be recorded to protect the Trustee’s interest in the Mortgage Loans. Any such recordation of an Assignment of Mortgage shall be effected at the expense of the Seller.
Assignment of Mortgage Loans. 15 Section 2.04. Representations and Warranties of the Company......... 16
