Common use of Conveyance of Transferred Mortgage Loans Clause in Contracts

Conveyance of Transferred Mortgage Loans. The Originator, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey to the Company, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the Mortgages, the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loan. If the Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by the Originator.

Appears in 6 contracts

Samples: Master Loan Transfer Agreement (Equivantage Acceptance Corp), Master Loan Transfer Agreement (Equivantage Acceptance Corp), Master Loan Transfer Agreement (Equivantage Acceptance Corp)

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Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey to the CompanySponsor and/or the Advanta Mortgage Loan Trust - , without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all accrued interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related mortgage insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loan(excluding any non-mortgage related or credit life insurance policies). If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Conduit Receivables Inc)

Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey to the CompanySponsor and/or the Advanta Mortgage Loan Trust, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all accrued interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanInsurance Policies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Conveyance Agreement (Advanta Mortgage Conduit Services Inc)

Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey from the Conduit Acquisition Trust to the CompanyAdvanta Mortgage Loan Trust________-________, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanpolicies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Mortgage Loan Trust 1998-1)

Conveyance of Transferred Mortgage Loans. The OriginatorEach Affiliated Originator and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey from the Conduit Acquisition Trust to the CompanyAdvanta Mortgage Loan Trust _______-___, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanpolicies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Mortgage Loan Trust 1996-3)

Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee: (i) to convey to the CompanySponsor, for assignment to the Advanta Mortgage Loan Trust 1999-1, without recourse (except as otherwise explicitly provided for herein) ), all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all accrued interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related mortgage insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loan(excluding any non-mortgage related or credit life insurance policies). If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans. 3 The Trustee and the Trust are intended beneficiaries of this Agreement and of the foregoing representations, warranties and agreements.

Appears in 1 contract

Samples: Conveyance Agreement (Advanta Mortgage Conduit Services Inc)

Conveyance of Transferred Mortgage Loans. The OriginatorEach Affiliated Originator and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey from the Conduit Acquisition Trust to the CompanyAdvanta Mortgage Loan Trust ____-__, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanpolicies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Loan Transfer Agreement (Advanta Mortgage Loan Trust 1996-4)

Conveyance of Transferred Mortgage Loans. The OriginatorEach Affiliated Originator and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey to the CompanySponsor and/or the Advanta Mortgage Loan Trust, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the Pooling and Servicing Agreement, dated as of August 1, 1999 (the "Pooling and Servicing Agreement") among the Sponsor, the Master Servicer and the Trustee), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest accrued and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanInsurance Policies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Conveyance Agreement (Advanta Mortgage Loan Trust 1999-3)

Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey to the CompanySponsor and/or the Advanta Mortgage Loan Trust - , without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all accrued interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related mortgage insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loan(excluding any non-mortgage related or credit life insurance policies). If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by the each Affiliated Originator.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Mortgage Conduit Services Inc)

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Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey from the Conduit Acquisition Trust to the CompanyAdvanta Mortgage Loan Trust -, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanpolicies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Mortgage Loan Trust 1998-2)

Conveyance of Transferred Mortgage Loans. The OriginatorEach Affiliated Originator and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey from the Conduit Acquisition Trust to the CompanyAdvanta Mortgage Loan Trust - , without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "related Advanta Pooling Agreement"), the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanpolicies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Mortgage Loan Trust 1997-1)

Conveyance of Transferred Mortgage Loans. The Originator, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey to the Company, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the Mortgages, the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loan. If the Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day, as defined in the related EquiVantage Pooling and Servicing Agreement. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by the Originator.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Equivantage Acceptance Corp)

Conveyance of Transferred Mortgage Loans. The Originator, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey to the Company, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the Mortgages, the Files and all other documents, materials and properties appurtenant thereto and the Notes, including all interest and principal received by the Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loan. If the Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day, as defined in the Related EquiVantage Pooling and Servicing Agreement. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by the Originator.

Appears in 1 contract

Samples: Conveyance Agreement (Equivantage Acceptance Corp)

Conveyance of Transferred Mortgage Loans. The Each Affiliated Originator, the Affiliate and the Sponsor, concurrently with the execution and delivery of this Conveyance Agreement, does hereby irrevocably transfer, sell, assign, set over and otherwise convey, and does direct the Trustee to convey to the CompanySponsor and/or the Advanta Mortgage Loan Trust, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to the Transferred Mortgage Loans being conveyed by it, including specifically, without limitation, the MortgagesMortgages (as such term is defined in the "Advanta Pooling Agreement"), the Mortgage Files and all other documents, materials and properties appurtenant thereto and the Notes, including all accrued interest and principal received by the such Affiliated Originator on or with respect to such Transferred Mortgage Loans on or after the related Cut-Off off Date, together with all of its right, title and interest in and to the proceeds received on or after the related Cut-Off off Date of any related insurance policies on behalf of the Company. It is the intention of the parties hereto that the conveyance by the Originator of the Transferred Mortgage Loans to the Company shall constitute a purchase and sale of such Transferred Mortgage Loans and not a loanInsurance Policies. If the an Affiliated Originator cannot deliver the original Mortgage or mortgage assignment with evidence of recording thereon concurrently with the execution and delivery of this Conveyance Agreement solely because of a delay caused by the public recording office where such original Mortgage or mortgage assignment has been delivered for recordation, the such Affiliated Originator shall promptly deliver to the Trustee on behalf of the Company such original Mortgage or mortgage assignment with evidence of recording indicated thereon upon receipt thereof from the public recording official, as soon as possible but in no event later than 12 months from the Startup Day. The costs relating to the delivery of the documents specified in this Conveyance Agreement shall be borne by each Affiliated Originator. The Affiliated Originators hereby make the OriginatorRepresentations and Warranties set forth in Section 5(b) of the Master Transfer Agreement with respect to the Transferred Mortgage Loans.

Appears in 1 contract

Samples: Master Loan Transfer Agreement (Advanta Mortgage Loan Trust 1999-2)

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