Common use of Conveyance of Initial Mortgage Clause in Contracts

Conveyance of Initial Mortgage. Loans (a) The Seller, concurrently with the execution and delivery of this Agreement, does hereby transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) (i) all of its right, title and interest in and to each Initial Mortgage Loan, including the Cut-Off Date Principal Balance and all collections in respect of interest and principal received after the Cut-Off Date (other than payments in respect of accrued interest due on or before September 1, 1997); (ii) property which secured such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) its interest in any insurance policies in respect of the Initial Mortgage Loans; (iv) such amounts as may be deposited into and held by the Trustee in the Funding Account and the Initial Interest Coverage Account, together with all investment earnings on such amounts; and (v) all proceeds of any of the foregoing. In connection with such transfer, assignment and conveyance the Seller shall deliver to, and deposit with, the Trustee, on or before the Closing Date, the following documents or instruments with respect to each Initial Mortgage Loan (the "Related Documents") and the related Mortgage Loan Schedule in computer readable format and the Seller, in connection with the Subsequent Transfer, shall deliver to, and deposit with, the Trustee, on or before the Closing Date, the Related Documents and the related Mortgage Loan Schedule in computer readable format with respect to each Subsequent Mortgage Loan:

Conveyance of Initial Mortgage. Loans (a) The Seller, concurrently with the execution and delivery of this Agreement, does hereby transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) (i) all of its right, title and interest in and to each Initial Mortgage Loan, including the Cut-Off Date Principal Balance and all collections in respect of interest and principal received after the Cut-Off Date (other than payments in respect of accrued interest due on or before September March 1, 19971998); (ii) property which secured such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) its interest in any insurance policies in respect of the Initial Mortgage Loans; (iv) such amounts as may be deposited into and held by the Trustee in the Pre-Funding Account and the Initial Interest Coverage Account, together with all investment earnings on such amounts; (v) the Initial Interest Deposit; and (vvi) all proceeds of any of the foregoing. In connection with such transfer, assignment and conveyance the Seller shall deliver to, and deposit with, the Trustee or the Custodian on behalf of the Trustee, on or before the Closing Date, the following documents or instruments with respect to each Initial Mortgage Loan (the "Related Documents") and the related Mortgage Loan Schedule in computer readable format and the Seller, in connection with the Subsequent Transfer, shall deliver to, and deposit with, the Trustee or the Custodian on behalf of the Trustee, on or before the Closing Date, the Related Documents and the related Mortgage Loan Schedule in computer readable format with respect to each Subsequent Mortgage Loan:

Conveyance of Initial Mortgage. Loans (a) The Seller, concurrently with the execution and delivery of this Agreement, does hereby transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) (i) all of its right, title and interest in and to each Initial Mortgage Loan, including the Cut-Off Date Principal Balance and all collections in respect of interest and principal received after the Cut-Off Date (other than payments in respect of accrued interest due on or before September June 1, 1997); (ii) property which secured such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) its interest in any insurance policies in respect of the Initial Mortgage Loans; (iv) such amounts as may be deposited into and held by the Trustee in the Funding Account and the Initial Interest Coverage Account, together with all investment earnings on such amounts; and (v) all proceeds of any of the foregoing. In connection with such transfer, assignment and conveyance the Seller shall deliver to, and deposit with, the Trustee, on or before the Closing Date, the following documents or instruments with respect to each Initial Mortgage Loan (the "Related Documents") and the related Mortgage Loan Schedule in computer readable format and the Seller, in connection with the Subsequent Transfer, shall deliver to, and deposit with, the Trustee, on or before the Closing Date, the Related Documents and the related Mortgage Loan Schedule in computer readable format with respect to each Subsequent Mortgage Loan:

Conveyance of Initial Mortgage. Loans (a) The Seller, concurrently with the execution and delivery of this Agreement, does hereby transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) (i) all of its right, title and interest in and to each Initial Mortgage Loan, including the Cut-Off Date Principal Balance and all collections in respect of interest and principal received after the Cut-Off Date (other than payments in respect of accrued interest due on or before September 1March 15, 1997); (ii) property which secured such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) its interest in any insurance policies in respect of the Initial Mortgage Loans; (iv) such amounts as may be deposited into and held by the Trustee in the Funding Account and the Initial Interest Coverage Account, together with all investment earnings on such amounts; and (v) all proceeds of any of the foregoing. In addition, on or prior to the Closing Date, the Seller shall cause the Certificate Insurer to deliver the Certificate Insurance Policy to the Trustee. In connection with such transfer, assignment and conveyance the Seller shall deliver to, and deposit with, the Trustee, on or before the Closing Date, the following documents or instruments with respect to each Initial Mortgage Loan (the "Related Documents") and the related Mortgage Loan Schedule in computer readable format and the Seller, in connection with the Subsequent Transfer, shall deliver to, and deposit with, the Trustee, on or before the Closing Date, the Related Documents and the related Mortgage Loan Schedule in computer readable format with respect to each Subsequent Mortgage Loan:

Conveyance of Initial Mortgage. Loans (a) The Seller, concurrently with the execution and delivery of this Agreement, does hereby transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) (i) all of its right, title and interest in and to each Initial Mortgage Loan, including the Cut-Off Date Principal Balance and all collections in respect of interest and principal received after the Cut-Off Date (other than payments in respect of accrued interest due on or before September 1, 19971998); (ii) property which secured such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) its interest in any insurance policies in respect of the Initial Mortgage Loans; (iv) such amounts as may be deposited into and held by the Trustee in the Pre-Funding Account and the Initial Interest Coverage Account, together with all investment earnings on such amounts; (v) the Initial Interest Deposit; and (vvi) all proceeds of any of the foregoing. In addition, on or prior to the Closing Date, the Seller shall cause the Certificate Insurer to deliver the Certificate Insurance Policy to the Trustee. In connection with such transfer, assignment and conveyance the Seller shall deliver to, and deposit with, the Trustee or the Custodian on behalf of the Trustee, on or before the Closing Date, the following documents or instruments with respect to each Initial Mortgage Loan (the "Related Documents") and the related Mortgage Loan Schedule in computer readable format and the Seller, in connection with the Subsequent Transfer, shall deliver to, and deposit with, the Trustee or the Custodian on behalf of the Trustee, on or before the Closing Date, the Related Documents and the related Mortgage Loan Schedule in computer readable format with respect to each Subsequent Mortgage Loan:

Conveyance of Initial Mortgage. Loans (aLoans(a) The Seller, concurrently with the execution and delivery of this Agreement, does hereby transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) (i) all of its right, title and interest in and to each Initial Mortgage Loan, including the Cut-Off Date Principal Balance and all collections in respect of interest and principal received after the Cut-Off Date (other than payments in respect of accrued interest due on or before September June 1, 19971998); (ii) property which secured such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) its interest in any insurance policies in respect of the Initial Mortgage Loans; (iv) such amounts as may be deposited into and held by the Trustee in the Pre-Funding Account and the Initial Interest Coverage Account, together with all investment earnings on such amounts; (v) the Initial Interest Deposit; and (vvi) all proceeds of any of the foregoing. In connection with such transfer, assignment and conveyance the Seller shall deliver to, and deposit with, the Trustee or the Custodian on behalf of the Trustee, on or before the Closing Date, the following documents or instruments with respect to each Initial Mortgage Loan (the "Related Documents") and the related Mortgage Loan Schedule in computer readable format and the Seller, in connection with the Subsequent Transfer, shall deliver to, and deposit with, the Trustee or the Custodian on behalf of the Trustee, on or before the Closing Date, the Related Documents and the related Mortgage Loan Schedule in computer readable format with respect to each Subsequent Mortgage Loan: