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.
(a) Concurrently with the execution and delivery of this Agreement, the Depositor does hereby transfer, assign, set over, deposit with and otherwise convey to the Trustee, without recourse, subject to Sections 2.02, 2.04, 2.05 and 2.06, in trust, all the right, title and interest of the Depositor in and to the Mortgage Loans (including the Participations). Such conveyance includes, without limitation, the right to all distributions of principal and interest received on or with respect to the Mortgage Loans on and after the Cut-off Date (other than payments of principal and interest due on or before such date), and all such payments due after such date but received prior to such date and intended by the related Mortgagors to be applied after such date, together with all of the Depositor's right, title and interest in and to the Collection Account and all amounts from time to time credited to and the proceeds of the Collection Account, the Securities Administrator Account and all amounts from time to time credited to and the proceeds of the Securities Administrator Account, the Certificate Account and all amounts from time to time credited to and the proceeds of the Certificate Account, any Escrow Account established pursuant to Section 9.06 hereof and all amounts from time to time credited to and the proceeds of any such Escrow Account, any REO Property and the proceeds thereof, the Depositor's rights under any Insurance Policies related to the Mortgage Loans, and the Depositor's security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties and any Additional Collateral, and any proceeds of the foregoing, to have and to hold, in trust; and the Trustee declares that, subject to the 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, Certificates in the authorized denominations evidencing the entire ownership of the Trust Fund. Concurrently with the execution and delivery of this Agreement, the Depositor does hereby assign to the Trustee all of its rights and interest und...
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.
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. 57 Section 2.04 Discovery of Breach. Section 2.05 Repurchase, Purchase or Substitution of Mortgage Loans. Section 2.06 Grant Clause. 61 Section 3.01 The Certificates. 62 Section 3.02 Registration. 62 Section 3.03 Transfer and Exchange of Certificates. 63 Section 3.04 Cancellation of Certificates. 66 Section 3.05 Replacement of Certificates. 66 Section 3.06 Persons Deemed Owners. 66 Section 3.07 Temporary Certificates. 67 Section 3.08 Appointment of Paying Agent. 67 Section 3.09 Book-Entry Certificates.
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. 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. 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 Section 3.01. The Certificates. 73 Section 3.02. Registration. 74 Section 3.03. Transfer and Exchange of Certificates. 74 Section 3.04. Cancellation of Certificates. 81 Section 3.05. Replacement of Certificates. 81 Section 3.06. Persons Deemed Owners. 81 Section 3.07. Temporary Certificates. 81 Section 3.08. Appointment of Paying Agent. 82 Section 3.09. Book-Entry Certificates. 83 Section 4.01. Collection Account. 84 Section 4.02. Application of Funds in the Collection Account. 86 Section 4.03. Reports to Certificateholders. 89 Section 4.04. Certificate Account. 93 Section 4.05. [Reserved]. 94
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.................................... 33 Section 2.02. Acceptance of Trust Fund by Trustee; Review of Documentation for Trust Fund.......................
DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES. Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans 48 Section 2.02 Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund 54 Section 2.03 Representations and Warranties of the Depositor 56 Section 2.04 Discovery of Breach 58 Section 2.05 Repurchase, Purchase or Substitution of Mortgage Loans 58 Section 2.06 Grant Clause 60 Section 3.01 The Certificates 61 Section 3.02 Registration 61 Section 3.03 Transfer and Exchange of Certificates 62 Section 3.04 Cancellation of Certificates 65 Section 3.05 Replacement of Certificates 65 Section 3.06 Persons Deemed Owners 65 Section 3.07 Temporary Certificates 66 Section 3.08 Appointment of Paying Agent 66 Section 3.09 Book-Entry Certificates 66 Section 4.01 Collection Account 68 Section 4.02 Application of Funds in the Collection Account 70 Section 4.03 Reports to Certificateholders 72 Section 4.04 Certificate Account 76 Section 4.05 The Pre-Funding Accounts 77 Section 4.06 The Capitalized Interest Account 78 Section 4.07 Securities Administration Account 78 Section 5.01 Distributions Generally 80 Section 5.02 Distributions from the Certificate Account 80 Section 5.03 Allocation of Losses 90 Section 5.04 Advances by Master Servicer, Servicers and Securities Administrator 91 Section 5.05 Compensating Interest Payments 92 Section 5.06 Basis Risk Reserve Fund 92
