Common use of Conveyance of the Home Loans Clause in Contracts

Conveyance of the Home Loans. (a) As of the Closing Date, in consideration of the Issuer's delivery of the Notes and Certificates to the Depositor or its designee, upon the order of the Depositor, the Depositor, as of the Closing Date and concurrently with the execution and delivery hereof, does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to the Trust Estate. The foregoing sale, transfer, assignment, set over and conveyance does not and is not intended to result in a creation or an assumption by the Issuer of any obligation of the Depositor, the Seller or any other person in connection with the Trust Estate or under any agreement or instrument relating thereto except as specifically set forth herein.