Common use of Delayed Delivery Clause in Contracts

Delayed Delivery. In connection with the transfer under Section 2.01(a) by the Depositor, the Depositor shall effect delivery of the Mortgage Loan Schedule to the Trust and the Indenture Trustee by the Closing Date and delivery of the Mortgage Files to the Trust, and the Trust shall deliver them to the Indenture Trustee, (i) no later than the Closing Date, with respect to no less than 50% of the Mortgage Loans in each Loan Group, (ii) no later than the twentieth day after the Closing Date, with respect to no less than 40% of the Mortgage Loans in each Loan Group in addition to those delivered on the Closing Date, and (iii) within thirty days following the Closing Date, with respect to the remaining Mortgage Loans. In lieu of delivery of original documentation, the Depositor may deliver documents that have been imaged optically on delivery of an opinion of counsel to the Indenture Trustee and the Credit Enhancer that the imaged documents are enforceable to the same extent as the originals and do not impair the enforceability of the transfer to the Trust of the Mortgage Loans, if the retention of the imaged documents in the delivered format will not result in a reduction in the then current rating of the Notes without regard to the Policy.

Delayed Delivery. In connection with the transfer under Section 2.01(a) by the Depositor, the Depositor shall effect delivery of the Mortgage Loan Schedule to the Trust and the Indenture Trustee by the Closing Date and delivery of the Mortgage Files to the Trust, and the Trust shall deliver them to the Indenture Trustee, (i) no later than the Closing Date, with respect to no less than 50% [50]% of the Mortgage Loans in each Loan Group, (ii) no later than the twentieth [twentieth] day after the Closing Date, with respect to no less than 40% [40]% of the Mortgage Loans in each Loan Group in addition to those delivered on the Closing Date, and (iii) within thirty [thirty] days following the Closing Date, with respect to the remaining Mortgage Loans. In lieu of delivery of original documentation, the Depositor may deliver documents that have been imaged optically on delivery of an opinion of counsel to the Indenture Trustee and the Credit Enhancer that the imaged documents are enforceable to the same extent as the originals and do not impair the enforceability of the transfer to the Trust of the Mortgage Loans, if the retention of the imaged documents in the delivered format will not result in a reduction in the then current rating of the Notes without regard to the Policy.

Delayed Delivery. In connection with the transfer under Section 2.01(a) by the Depositor, the Depositor shall effect delivery of the Mortgage Loan Schedule to the Trust and the Indenture Trustee by the Closing Date and delivery of the Mortgage Files to the Trust, and the Trust shall deliver them to the Indenture Trustee, (i) no later than the Closing Date, with respect to no less than 50% of the Mortgage Loans in each Loan Group, (ii) no later than the twentieth day after the Closing Date, with respect to no less than 40% of the Mortgage Loans in each Loan Group in addition to those delivered on the Closing Date, and (iii) within thirty days following the Closing Date, with respect to the remaining Mortgage Loans. In lieu of delivery of original documentation, the Depositor may deliver documents that have been imaged optically on delivery of an opinion of counsel to the Indenture Trustee and the Credit Enhancer that the imaged documents are enforceable to the same extent as the originals and do not impair the enforceability of the transfer to the Trust of the Mortgage Loans, if the retention of the imaged documents in the delivered format will not result in a reduction in the then current rating of the Notes without regard to the Policy.

Delayed Delivery. In connection with the transfer under Section 2.01(a) by the Depositor, the Depositor shall effect delivery of the Mortgage Loan Schedule to the Trust and the Indenture Trustee by the Closing Date and delivery of the Mortgage Files to the Trust, and the Trust shall deliver them to the Indenture Trustee, (i1) no later than the Closing Date, with respect to no less than 50% of the Mortgage Loans in each Loan GroupLoans, (ii2) no later than the twentieth day after the Closing Date, with respect to no less than 40% of the Mortgage Loans in each Loan Group in addition to those delivered on the Closing Date, and (iii3) within thirty days following the Closing Date, with respect to the remaining Mortgage Loans. In lieu of delivery of original documentation, the Depositor may deliver documents that have been imaged optically on delivery of an opinion of counsel to the Indenture Trustee and the Credit Enhancer that the imaged documents are enforceable to the same extent as the originals and do not impair the enforceability of the transfer to the Trust of the Mortgage Loans, if the retention of the imaged documents in the delivered format will not result in a reduction in the then current rating of the Notes without regard to the PolicyNotes.

Delayed Delivery. In connection with the transfer under Section 2.01(a) by the Depositor, the Depositor shall effect delivery of the Mortgage Loan Schedule to the Trust and the Indenture Trustee by the Closing Date and delivery of the Mortgage Files to the Trust, and the Trust shall deliver them to the Indenture Trustee, (i) no later than the Closing Date, with respect to no less than 50% of the Mortgage Loans in each Loan GroupLoans, (ii) no later than the twentieth day after the Closing Date, with respect to no less than 40% of the Mortgage Loans in each Loan Group in addition to those delivered on the Closing Date, and (iii) within thirty days following the Closing Date, with respect to the remaining Mortgage Loans. In lieu of delivery of original documentation, the Depositor may deliver documents that have been imaged optically on delivery of an opinion of counsel to the Indenture Trustee and the Credit Enhancer that the imaged documents are enforceable to the same extent as the originals and do not impair the enforceability of the transfer to the Trust of the Mortgage Loans, if the retention of the imaged documents in the delivered format will not result in a reduction in the then current rating of the Notes without regard to the Policy.

Delayed Delivery. In connection with the transfer under Section 2.01(a) by the Depositor, the Depositor shall effect delivery of the Mortgage Loan Schedule to the Trust and the Indenture Trustee by the Closing Date and delivery of the Mortgage Files to the Trust, and the Trust shall deliver them to the Indenture Trustee, (i) no later than the Closing Date, with respect to no less than 50% of the Mortgage Loans in each Loan Group, (ii) no later than the twentieth day after the Closing Date, with respect to no less than 40% of the Mortgage Loans in each Loan Group in addition to those delivered on the Closing Date, and (iii) within thirty days following the Closing Date, with respect to the remaining Mortgage Loans. In lieu of delivery of original documentation, the Depositor may deliver documents that have been imaged optically on delivery of an opinion of counsel to the Indenture Trustee and the Credit Enhancer Note Insurer that the imaged documents are enforceable to the same extent as the originals and do not impair the enforceability of the transfer to the Trust of the Mortgage Loans, if the retention of the imaged documents in the delivered format will not result in a reduction in the then current rating of the Notes without regard to the Policy.