Common use of Custodial Arrangements Clause in Contracts

Custodial Arrangements. With respect to Purchased Mortgage Loans, Buyer may appoint any Person to act as the Custodian to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Buyer. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that Seller, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller hereby consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer. Seller further agrees that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documents; (iii) Seller shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian selected by Buyer with reasonable care.

Custodial Arrangements. With respect to Purchased Pledged Mortgage Loans, Buyer Lender may appoint any Person to act as the Custodian to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of BuyerLender. If any Person other than Buyer Lender is appointed as Custodian, it shall be a condition precedent to Buyer Lender entering into any Transactions the Advance hereunder that SellerBorrower, Buyer Lender and Custodian enter into a Custodial Agreement acceptable to BuyerLender. Seller Borrower hereby consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of BuyerLender. Seller Borrower further agrees that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of BuyerLender; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer Lender of such documents; (iii) Seller Borrower shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer Lender shall not be liable for any act or omission by the Custodian selected by Buyer Lender with reasonable care.

Custodial Arrangements. With respect to Purchased Mortgage Loans, and subject to the terms herein, Buyer may appoint any Person to act as the Custodian Custodian, with Seller’s consent (provided no consent shall be required if an Event of Default has occurred and is continuing) to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Seller or Buyer, as the case may be. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that Seller, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller hereby consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer; provided, however, that Seller shall not be required to make any such delivery until a Custodial Agreement has been entered into with such Custodian. Seller and Buyer further agrees that agree (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documents; and (iii) Seller shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not Custodian except as may be liable for any act or omission by otherwise provided in the Custodian selected by Buyer with reasonable careCustodial Agreement.

Custodial Arrangements. With respect to Purchased Mortgage Loans, Buyer may appoint any Person to act as the Custodian Custodian, with Seller’s consent (provided no consent shall be required if an Event of Default has occurred), to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Buyer. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that Seller, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller hereby consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer. Seller further agrees that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documents; (iii) Seller shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian selected by Buyer with reasonable care.

Custodial Arrangements. With respect to Purchased Mortgage LoansUnderlying Assets, and subject to the terms herein, Buyer may appoint any Person to act as the Custodian Custodian, with Seller Parties’ consent (provided no consent shall be required if an Event of Default has occurred and is continuing) to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Seller Parties or Buyer, as the case may be. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that SellerSeller Parties, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller Parties hereby consents consent to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer; provided, however, that Seller Parties shall not be required to make any such delivery until a Custodial Agreement has been entered into with such Custodian. Seller Parties and Buyer further agrees that agree (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documents; and (iii) Seller Parties shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not Custodian except as may be liable for any act or omission by otherwise provided in the Custodian selected by Buyer with reasonable careCustodial Agreement.

Custodial Arrangements. With respect The initial custodian for the Collateral Documents shall be Custodian. Thereafter, subject to Purchased Mortgage Loansthe approval of Seller which shall not be unreasonably withheld, Buyer may appoint any Person as a successor to Custodian and to act as the Custodian to hold possession of the Mortgage Loan Documents and the Agency Collateral Documents (or a portion thereof) and to take actions at the direction of Buyer. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that Seller, Buyer and Custodian enter into a Notwithstanding anything contained in the Custodial Agreement acceptable to Buyer. Seller hereby consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer. contrary, Seller further agrees that (i) the Custodian and any successor appointed thereto shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Collateral Documents by the Custodian and any successor thereto shall be constructive receipt by Buyer of such documentsand shall perfect Buyer’s security interest in the Collateral Documents; (iii) Seller shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document successor thereto or Agency any Collateral Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian or any successor thereto selected by Buyer with reasonable care.

Custodial Arrangements. With respect to Purchased Mortgage LoansThe initial Custodian shall be the Person set forth in the Transactions Terms Letter. Thereafter, if the initial Custodian is removed for any reason, Buyer may appoint appoint, subject to the prior written consent of Seller (which consent shall not be unreasonably withheld or delayed) so long as there then exists no Event of Default, any Person to act as the Custodian to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Buyer. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that Seller, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller hereby consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer. Seller further agrees that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documentsthe Mortgage Loan Documents; (iii) Seller shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian selected by Buyer with reasonable care.

Custodial Arrangements. With respect to Underlying Assets related to Purchased Mortgage LoansAssets, Buyer may appoint any Person to act as the Custodian to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Buyer. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that SellerGuild Parties, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller Guild Parties hereby consents consent to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer. Seller Guild Parties further agrees agree that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documentsthe Mortgage Loan Documents; (iii) Seller Guild Parties shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian selected by Buyer with reasonable care.

Custodial Arrangements. With respect to Purchased Mortgage LoansUnderlying Assets, Buyer may appoint (i) prior to the occurrence of a Potential Default or an Event of Default that is continuing, any Person mutually agreed upon between Buyer and Nationstar Parties, or (ii) following the occurrence and during the continuation of a Potential Default or an Event of Default, any Person in Buyer’s sole discretion, in each case, to act as the Custodian to hold possession of the Mortgage Loan Documents and the Agency Documents (or a portion thereof) and to take actions at the direction of Buyer. If any Person other than Buyer is appointed as Custodian, it shall be a condition precedent to Buyer entering into any Transactions hereunder that SellerNationstar Parties, Buyer and Custodian enter into a Custodial Agreement acceptable to Buyer. Seller Nationstar Parties hereby consents consent to any and all such appointments and agrees to deliver the Mortgage Loan Documents and certain of the Agency Documents to the Custodian upon the direction of Buyer. Seller Nationstar Parties further agrees agree that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of Buyer; (ii) receipt of the Mortgage Loan Documents or the Agency Documents by the Custodian shall be constructive receipt by Buyer of such documents; (iii) Seller Nationstar Parties shall not have and shall not attempt to exercise any degree of control over the Custodian or any Mortgage Loan Document or Agency Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian selected by Buyer with reasonable care. Buyer and Nationstar Parties hereby acknowledge and agree to enter into a Xxxxxx Xxx XXX Custodial Agreement as soon as possible following this date of this Agreement.