Common use of Conveyance of Subsequent Mortgage Loans Clause in Contracts

Conveyance of Subsequent Mortgage Loans. (a) Upon receipt of the Purchase Price by the Seller, the Seller does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Depositor, without recourse, and the Depositor does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Issuer, without recourse, in trust, all of its right, title and interest in and to the Subsequent Mortgage Loans. (b) The Issuer hereby grants to the Trustee, as trustee for the benefit of the Certificateholders, all of the Issuer’s right, title and interest in and to the Subsequent Mortgage Loans and the proceeds thereof. (c) Additional terms of the sale are set forth on Attachment A hereto.

Conveyance of Subsequent Mortgage Loans. (a) Upon receipt of the Purchase Price by the Seller, the Seller does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Depositor, without recourse, and the Depositor does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the IssuerIssuing Entity, without recourse, in trust, all of its right, title and interest in and to the Subsequent Mortgage Loans. (b) The Issuer Issuing Entity hereby grants to the Trustee, as trustee for the benefit of the Certificateholders, all of the Issuer’s Issuing Entity's right, title and interest in and to the Subsequent Mortgage Loans and the proceeds thereof. (c) Additional terms of the sale are set forth on Attachment A hereto.