Common use of Conveyance of Home Loans Clause in Contracts

Conveyance of Home Loans. (a) The Depositor, by the execution and delivery of this Grantor Trust Agreement, does hereby sell, assign, set over, and otherwise convey to the Grantor Trustee, without recourse, all of its right, title and interest in, to and under the following, and wherever located: (i) the Home Loans set forth on the Home Loan Schedule attached hereto as Exhibit B, all interest accruing thereon and all collections in respect thereof received on or after the Cut-off Date; (ii) property which secured a Home Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) the interest of the Depositor in any insurance policies in respect of the Home Loans; (iv) all rights and remedies of the Depositor under the Home Loan Purchase Agreement; and (v) all proceeds of the foregoing. Such conveyance shall be deemed to be made as of the Closing Date.

Conveyance of Home Loans. (a) The Depositor, by the execution and delivery of this Grantor Trust Agreement, does hereby sell, assign, set over, and otherwise convey to the Grantor TrusteeTrustee for the benefit of the Holder of the Grantor Trust Certificate, without recourse, all of its right, title and interest in, to and under the following, and wherever located: (i) the Home Loans set forth on the Home Loan Schedule attached hereto as Exhibit B, all interest accruing thereon and all collections in respect thereof received on or after the Cut-off Date; (ii) property which secured a Home Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) the interest of the Depositor in any insurance policies in respect of the Home Loans; (iv) all rights and remedies of the Depositor under the Home Loan Purchase Agreement; and (v) all proceeds of the foregoing. Such conveyance shall be deemed to be made as of the Closing Date.