DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans.
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. Concurrently with the execution and delivery of this Agreement, the Depositor does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Trustee, without recourse, subject to Sections 2.02 and 2.04, in trust, all right, title and interest of the Depositor in and to the Trust Fund consisting of: (i) the Mortgage Loans, including the Mortgage Notes, the Mortgages, and the right to all payments of principal and interest received on or with respect to the Mortgage Loans after the Cut-off Date (other than Scheduled Payments due on or before such date), and all such payments due after such date but received on or prior to such date and intended by the related Mortgagors to be applied after such date; (ii) all of the Depositor’s right, title and interest, if any, in and to all amounts from time to time credited to and the proceeds of the Distribution Account, the Master Servicer Collection Account, any Custodial Accounts or any Escrow Account established with respect to the Mortgage Loans; (iii) with respect to the Mortgage Loans, to the extent set forth in the Acknowledgements, the Depositor’s rights under the Purchase Agreements and the Servicing Agreements and all of the Depositor’s rights under the Mortgage Loan Purchase and Sale Agreement; (iv) all of the Depositor’s right, title and interest, if any, in REO Property and the proceeds thereof; (v) all of the Depositor’s rights under any Insurance Policies related to the Mortgage Loans; and (vi) the Depositor’s security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties (collectively, the “Trust Fund”); and the Trustee declares that, subject to the Custodian’s review provided for in Section 2.02, it has received and shall hold the Trust Fund, as trustee, in trust, for the benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, has caused to be executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Trust Fund, all of the Certificates in the authorized denominations specified by the Depositor pursuant to Section 3.01(b). The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is not intended to result in the creation or assumption by the Trustee of any obligation...
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01. Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans.......................35 Section 2.02. Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund................38 Section 2.03. Representations and Warranties of the Depositor............................................40 Section 2.04. Discovery of Breach........................................................................41 Section 2.05. Repurchase, Purchase or Substitution of Mortgage Loans.....................................42 Section 2.06. Grant Clause...............................................................................43 Section 2.07.
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. Section 2.02 Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund. Section 2.03 Representations and Warranties of the Depositor. Section 2.04 Discovery of Breach. Section 2.05 Repurchase, Purchase or Substitution of Mortgage Loans. Section 2.06 Grant Clause. 66
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. 62 Section 2.02 Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund. 66 Section 2.03 Representations and Warranties of the Depositor. 68 Section 2.04 Discovery of Breach. 69 Section 2.05 Repurchase, Purchase or Substitution of Mortgage Loans. 70 Section 2.06 Grant Clause. 71 ARTICLE III THE CERTIFICATES Section 3.01 The Certificates. 72 Section 3.02 Registration. 73 Section 3.03 Transfer and Exchange of Certificates. 74 Section 3.04 Cancellation of Certificates. 80 Section 3.05 Replacement of Certificates. 80 Section 3.06 Persons Deemed Owners. 81 Section 3.07 Temporary Certificates. 81 Section 3.08 Appointment of Paying Agent. 81 Section 3.09 Book-Entry Certificates. 82
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. Section 2.02 Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund. Section 2.03 Representations and Warranties of the Depositor. Section 2.04 Discovery of Breach. 55 Section 2.05 Repurchase, Purchase or Substitution of Mortgage Loans. 56 Section 2.06 Grant Clause. 57 ARTICLE III THE CERTIFICATES 58 Section 3.01 The Certificates. 58 Section 3.02 Registration. Section 3.03 Transfer and Exchange of Certificates. Section 3.04 Cancellation of Certificates. 62 Section 3.05 Replacement of Certificates. 62 Section 3.06 Persons Deemed Owners. 63 Section 3.07 Temporary Certificates. 63 Section 3.08 Appointment of Paying Agent. 63 Section 3.09 Book-Entry Certificates. 64 ARTICLE IV ADMINISTRATION OF THE TRUST FUND 65 Section 4.01 Collection Account. Section 4.02 Application of Funds in the Collection Account. 67 Section 4.03 Reports to Certificateholders. 69 Section 4.04 Certificate Account. 73 ARTICLE V DISTRIBUTIONS TO HOLDERS OF CERTIFICATES 74 Section 5.01 Distributions Generally. 74 Section 5.02 Distributions from the Certificate Account. Section 5.03 Allocation of Losses. 83 Section 5.04 Advances by Master Servicer, Servicers and Trustee. 84 Section 5.05 Compensating Interest Payments. 85 Section 5.06 The Certificate Insurance Policy. 85 Section 5.07 Reserve Fund. 87 ARTICLE VI CONCERNING THE TRUSTEE EVENTS OF DEFAULT Section 6.01 Duties of Trustee. Section 6.02 Certain Matters Affecting the Trustee. 90 Section 6.03 Trustee Not Liable for Certificates. 92 Section 6.04 Trustee May Own Certificates. 92 Section 6.05 Eligibility Requirements for Trustee. 92 Section 6.06 Resignation and Removal of Trustee. 93 Section 6.07 Successor Trustee. Section 6.08 Merger or Consolidation of Trustee.
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01. Creation and Declaration of Trust Fund;
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. 57 Section 2.02 Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund. 62 Section 2.03 Representations and Warranties of the Depositor. 63 Section 2.04 Discovery of Breach. 65 Section 2.05 Repurchase, Purchase or Substitution of Mortgage Loans. 66 Section 2.06 Grant Clause. 67 ARTICLE III THE CERTIFICATES Section 3.01 The Certificates. 68 Section 3.02 Registration. 69 Section 3.03 Transfer and Exchange of Certificates. 70 Section 3.04 Cancellation of Certificates. 76 Section 3.05 Replacement of Certificates. 76 Section 3.06 Persons Deemed Owners. 77 Section 3.07 Temporary Certificates. 77 Section 3.08 Appointment of Paying Agent. 77 Section 3.09 Book-Entry Certificates. 78 ARTICLE IV ADMINISTRATION OF THE TRUST FUND Section 4.01 Collection Account. 80 Section 4.02 Application of Funds in the Collection Account. 82 Section 4.03 Reports to Certificateholders. 84 Section 4.04 Certificate Account. 88 Section 4.05 [Reserved] 89 ARTICLE V DISTRIBUTIONS TO HOLDERS OF CERTIFICATES Section 5.01 Distributions Generally. 89 Section 5.02 Distributions from the Certificate Account. 90 Section 5.03 Allocation of Losses. 103 Section 5.04 Advances by Master Servicer, Servicer and Trustee. 103 Section 5.05 Compensating Interest Payments. 104 Section 5.06 Basis Risk Reserve Fund. 105 Section 5.07 Supplemental Interest Trust. 105 Section 5.08 Rights of Swap Counterparty. 107 Section 5.09 Termination Receipts. 107
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 1.3 Creation and Declaration of Trust; Purchase of the Senior Notes.
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Section 2.01. Creation and Declaration of Trust; Assignment of Underlying Notes...........................7 Section 2.02. Entry into Agency Agreement.................................................................8 Section 2.03.
