Custody of Mortgage Files. In connection with the sale, transfer, conveyance and assignment of Purchased Mortgage Loans, on or prior to each Purchase Date, Seller shall deliver or cause to be delivered and released to Custodian, as custodian for Buyer, the Mortgage File or Wet File, as applicable for the related Purchased Mortgage Loans. Seller shall be solely responsible for providing each and every document required for each Mortgage File to Custodian in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and neither Custodian nor Buyer shall be responsible or liable for taking any such action, causing Seller or any other person or entity to do so or notifying any Person that any such action has or has not been taken.
Custody of Mortgage Files. To assure uniform quality in servicing the Mortgage Loans and to reduce administrative costs, First Union National Bank of North Carolina, Trust Department, hereby agrees to act as Document Custodian of the Related Documents for each Mortgage Loan, which are hereby constructively delivered to the Trustee. First Union National Bank of North Carolina, Trust Department agrees to perform its duties as Document Custodian without charge. Immediately upon the occurrence of any Assignment Event, the Master Servicer shall notify the Trustee of such occurrence and thereafter shall begin the transfer of all Mortgage Files and the Related Documents to the Trustee. The Document Custodian shall undertake such transfer in a manner that will result in the completion of the transfer of all Mortgage Files and Related Documents within the period specified in Section 2.1(b) following the occurrence of an Assignment Event. From and after the occurrence of an Assignment Event, or other earlier termination of the Custodial Agreement, and the delivery of the Mortgage Files and the Related Documents to the Trustee, the Trustee shall act as Document Custodian or it may engage the services of another Person (other than the Depositor or an Affiliate of the Depositor) with the consent of the Rating Agencies and the Certificate Insurer, to act as Document Custodian. From and following the occurrence of any Assignment Event, the Seller shall be required to pay the Trustee (or any other Person designated by the Trustee to act as document custodian) reasonable fees based on the reciprocal fees charged by the Trustee and the Seller for similar services. The Document Custodian hereby acknowledges that it is bailee for the Trustee and is holding all of Related Documents delivered to it in trust for the Trustee. The Trustee shall not be liable to any Person for actions or failures to take action of the Document Custodian, unless, and only to the extent, such actions or failures to act constitute willful misconduct or negligence. From time to time following delivery of the Mortgage Files and the Related Documents to the Trustee pursuant to this Section 3.16 hereof, the Trustee may appoint a Document Custodian who is acceptable to the Certificate Insurer, the Depositor and the Master Servicer (provided no Event of Default is then occurring or continuing) and shall notify the Rating Agencies of such appointment. Upon execution of a custodial agreement, such Document Custodian shall maintain poss...
Custody of Mortgage Files. In connection with the sale, transfer, conveyance and assignment of Purchased Mortgage Loans, on or prior to each Purchase Date in accordance with the terms of the Custodial Agreement and the TIAA Bank Warehouse Customer Guide, Seller shall deliver or cause to be delivered and released to Custodian, as custodian for Buyer, the Mortgage File or Wet File, as applicable for the related Purchased Mortgage Loans. With respect to any eMortgage Loan, Seller shall cause (A) the Authoritative Copy of the related eNote to be held in the eVault as a secure electronic file, (B) the Controller status of the related eNote to be transferred to Buyer by the Controller Status Transfer Deadline, (C) the Location status of the related eNote to be transferred to the Custodian by the Controller Status Transfer Deadline, (D) the Delegatee status of the related eNote to be transferred to Custodian by the Controller Status Transfer Deadline, and (E) the Servicing Agent status of the related eNote to remain blank, in the case of subsections (B) – (E) on the MERS eRegistry (collectively, the “eNote Delivery Requirements”). In addition, all Required Documents that are Electronic Records must be delivered to Custodian electronically, and all other Required Documents must be delivered physically, as required by the Custodial Agreement. Seller shall be solely responsible for providing each and every document required for each Mortgage File to Custodian in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and neither Custodian nor Buyer shall be responsible or liable for taking any such action, causing Seller or any other person or entity to do so or notifying any Person that any such action has or has not been taken.
Custody of Mortgage Files. In connection with the sale, transfer, conveyance and assignment of Purchased Mortgage Loans, on or prior to each Purchase Date, Seller shall deliver or cause to be delivered and released to Buyer or its designee the Mortgage File or Wet File, as applicable for the related Purchased Mortgage Loans. Seller shall be solely responsible for providing each and every document required for each Mortgage File to Buyer in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and Buyer shall not be responsible or liable for taking any such action, causing Seller or any other person or entity to do so or notifying any Person that any such action has or has not been taken.
Custody of Mortgage Files. The Depositor, concurrently with the execution and delivery of this Agreement, does hereby irrevocably transfer, assign, sell, 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 the unpaid principal balance of each Home Equity Loan and each Eligible Substitute Home Equity Loan, including all Interest Collections and Principal Collections in respect of any such Home Equity Loan received after the Cut-Off Date with respect to each Initial Home Equity Loan and after the Subsequent Cut-Off Date with respect to each Eligible Substitute Home Equity Loan pursuant to the Home Equity Loan Purchase Agreement; (ii) property which secured such Home Equity 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 Home Equity Loans (including any Insurance Proceeds); (iv) all other assets included or to be included in the Trust for the benefit of the Class A Noteholders[, the Insurer] and the Transferor;(v) all proceeds of any of the foregoing; and (vi) one share of the Depositor's Preferred Stock. [In addition, on or prior to the Closing Date, the Depositor shall cause the Insurer to deliver the Insurance Policy to the Indenture Trustee.]
Custody of Mortgage Files. The Trustee hereby agrees to act as Document Custodian of the Related Documents for each Mortgage Loan. From time to time following delivery of the Mortgage Files and the Related Documents to the Trustee pursuant to Section 2.01(a) hereof, the Trustee may engage the services of another Person (other than the Depositor or an Affiliate of the Depositor) who is acceptable to the Depositor, the Seller and the Servicer with the consent of the Rating Agencies, to act as Document Custodian. Upon execution of a custodial agreement consistent with the terms hereof, such Document Custodian shall maintain possession of the Mortgage Files, or such part of them as the Trustee shall direct, as agent of the Trustee pursuant to the terms of such
Custody of Mortgage Files. To assure uniform quality in servicing the Mortgage Loans and to reduce administrative costs, the Seller acknowledges the revocable appointment of the Servicer by the Indenture Trustee, and the acceptance of such appointment by the Servicer, as the agent of the Indenture Trustee as custodian of the Mortgage Files.
Custody of Mortgage Files. In connection with the sale, transfer, conveyance and assignment of Purchased Mortgage Loans, on or prior to each Purchase Date, Seller shall deliver or cause to be delivered and released to Buyer or its designee the Mortgage File or Wet File, as applicable for the related Purchased Mortgage Loans all as more particularly described in the Customer Guide. LEGAL02/33574838v9 ‑10‑ Seller shall be solely responsible for providing each and every document required for each Mortgage File to Buyer or its designee in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and Buyer shall not be responsible or liable for taking any such action, causing Seller or any other person or entity to do so or notifying any Person that any such action has or has not been taken.
Custody of Mortgage Files. In connection with the sale, transfer, conveyance and assignment of Purchased Mortgage Loans, on or prior to each Purchase Date in accordance with the terms of the Custodial Agreement and the EverBank Warehouse Customer Guide, Seller shall deliver or cause to be delivered and released to Custodian, as custodian for Buyer, the Mortgage File or Wet File, as applicable for the related Purchased Mortgage Loans. Seller shall be solely responsible for providing each and every document required for each Mortgage File to Custodian in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and neither Custodian nor Buyer shall be responsible or liable for taking any such action, causing Seller or any other person or entity to do so or notifying any Person that any such action has or has not been taken.
Custody of Mortgage Files. In connection with the sale, transfer, conveyance and assignment of Purchased Mortgage Loans, on or prior to each Purchase Date, Seller shall deliver or cause to be delivered and released to Buyer or its designee the Mortgage File or Wet File, as applicable for the related Purchased Mortgage Loans all as more particularly described in the Customer Guide. Seller shall be solely responsible for providing each and every document required for each Mortgage File to Buyer or its designee in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and Buyer shall not be responsible or liable for taking any such action, causing Seller or any other person or entity to do so or notifying any Person that any such action has or has not been taken.
