Assignments of Mortgage. (a) Each Seller shall, or shall cause the applicable Interim Servicer to, at such Seller’s expense, register with MERS an assignment to the Purchaser or its designee of each related MERS Mortgage Loan promptly following the Closing Date.
(b) Within 180 days of the Closing Date, the Purchaser or its designee, at the Purchaser's expense, shall prepare and deliver for recording in the appropriate recording office an Assignment of Mortgage, for each Mortgage Loan currently recorded in the name of a Seller that is not a MERS Mortgage Loan, which Assignment of Mortgage shall be in the name of the applicable Seller as assignor and the Purchaser or its designee as assignee; provided, that Purchaser shall not be required to record any such Assignment of Mortgage until after all intervening assignments related to such Mortgage Loan have been delivered, and the Purchaser shall have 90 days from the date of its receipt of such missing intervening assignments in which to deliver for recording in the appropriate recording office the related Assignment of Mortgage. The Purchaser shall execute the Assignment of Mortgage of behalf of the applicable Seller by and through the power of attorney that will be provided by the Seller Representative on behalf of the Sellers in the form of Exhibit H. Upon the request of the Seller Representative, the Purchaser shall provide or shall cause to be provided documentation evidencing any such executed and recorded Assignment of Mortgage. If within 180 days of the Closing Date (or within 90 days of receipt by Purchaser of any missing intervening assignments), the Purchaser or its designee has not delivered for recording in the appropriate recording office an Assignment of Mortgage for each Mortgage Loan that is not a MERS Mortgage Loan, as described above, the Purchaser agrees that the Seller Representative, on behalf of the Purchaser, may record any Assignment of Mortgage in the name of the Purchaser or its designee, at the Purchaser's sole expense; provided, that the Seller Representative shall not record any such Assignment of Mortgage if Purchaser is required to delay recording due to outstanding intervening assignments related to such Mortgage Loan remaining undelivered.
Assignments of Mortgage. As to any Mortgage Loan, the Assignment of Mortgage is in recordable form and is acceptable for recording under the laws of the jurisdiction in which the Mortgaged Property is located;
Assignments of Mortgage. Each Mortgage Loan has been duly and properly assigned to MERS, or to the current Investor or as otherwise permitted by Applicable Requirements, and the Legal Documents contain intervening Assignments of Mortgage Instruments evidencing a complete chain of assignment from the Originator to the applicable Persons, if required, all in compliance with Applicable Requirements, or will be so assigned as contemplated by Section 5.01(d) hereof.
Assignments of Mortgage. Each related Assignment of Mortgage and assignment of Assignment of Rents from Seller in blank constitutes the legal, valid and binding first priority assignment from Seller (assuming the insertion of the Buyer’s name), except as such enforcement may be limited by bankruptcy, insolvency, receivership, reorganization, moratorium, redemption, liquidation or other laws relating to or affecting the enforcement of creditors’ rights generally, or by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law). The related Mortgage and the related Assignment of Rents, if any, is freely assignable without the consent of any Person.
Assignments of Mortgage. As of the Sale Date and Servicing Transfer Date, each Mortgage Loan has been duly and properly assigned to the current Investor or Servicer, as applicable, in accordance with Applicable Requirements, and the Legal Documents contain intervening Assignments of Mortgage Instruments evidencing a complete chain of assignment from the Originator to the current Investor or Servicer, as applicable, all in compliance with Applicable Requirements, or will be so assigned as contemplated by Section 5.01(d) hereof.
Assignments of Mortgage. At the request of Buyer, Seller shall use commercially reasonable efforts to obtain a corrected Assignment of Mortgage for any Purchased Mortgage Loan if Buyer determines in its discretion that the related Assignment of Mortgage (i) is not in recordable form, (ii) may not be acceptable for recording under the laws of the jurisdiction in which the related Mortgaged Property is located, or (iii) may not be sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Purchased Mortgage Loan to Buyer.
Assignments of Mortgage. The Assignments of Mortgage executed and delivered by Borrower in connection with the Ineligible Note Portfolio and pursuant to the terms of Section 8(d) of this Second Amendment, in the form attached hereto as SCHEDULE G. AVAILABILITY. Pursuant to the Forbearance Agreement, Availability is zero (0). BOND HOLDER EXCHANGE TRANSACTION. The term "Bond Holder Exchange Transaction" shall mean that certain senior subordinate note holder exchange transaction on the terms and conditions outlined in that certain Term Sheet dated October 19, 2001 (the "Bond Holder Exchange Term Sheet"), a copy of which is attached hereto as EXHIBIT C, and which is to be consummated by the documents listed on SCHEDULE C hereto (the "Bond Holder Exchange Documents").
Assignments of Mortgage. On or before the Closing Date, Borrower shall have executed and delivered in escrow to Textron, or an agent designated by Lender and Additional Lenders under the Intercreditor Agreement, all of the appropriate Assignments of Mortgage requested by Lender and Additional Lenders in the form attached hereto as EXHIBIT O and as approved by Lender and Additional Lenders at their sole and absolute discretion.
Assignments of Mortgage. Each such Assignment of Mortgage (including any permitted modifications as requested and approved by Lender and Additional Lenders thereto) delivered to Textron or an agent or successor designated by Lender and Additional Lenders pursuant to Section 7(e) hereof shall be in full force and effect and has not be modified, amended or terminated (except as approved by Lender and Additional Lenders pursuant to the terms of Section 7(e) hereinabove), and Lender, Textron and Sovereign shall continue to have equal one-third (1/3) first priority continuing security interest and lien in and to the right, title, and interest of Borrower in the Ineligible Note Portfolio.
Assignments of Mortgage. The Assignments of Mortgage executed and delivered by Borrower in connection with the Ineligible Note Portfolio and pursuant to the terms of Section 7(e) of this Fourth Amendment, in the form attached hereto as EXHIBIT O. AVAILABILITY PERIOD. The availability period for the Inventory Loan commencing on the Closing Date and ending on March 31, 2004. BACKUP SERVICING AGREEMENT. Shall mean the agreement, in the form attached hereto as EXHIBIT K, pursuant to which the Standby Servicer shall provide servicing functions with respect to the pledged Notes Receivable upon the occurrence of an Event of Default hereunder in accordance with Section 17 hereof. BOND HOLDER EXCHANGE TRANSACTION. The term "Bond Holder Exchange Transaction" shall mean that certain senior subordinate note holder exchange transaction on the terms and conditions outlined in that certain Term Sheet dated October 19, 2001 (the "Bond Holder Exchange Term Sheet"), a copy of which is attached hereto as EXHIBIT I, and which is to be consummated by the documents listed on SCHEDULE I hereto (the "Bond Holder Exchange Documents").
