Common use of Delivery of Collateral Documents Relating to Mortgage-Backed Securities Clause in Contracts

Delivery of Collateral Documents Relating to Mortgage-Backed Securities. Upon the written request of Borrower, Lender may, at its option and in its sole but reasonable discretion, deliver to the certifying custodian the Collateral Documents relating to those Pledged Mortgage Loans that will be pooled to support a Mortgage-Backed Security. All such Pledged Mortgage Loans and the related Collateral Documents shall at all times by covered by a Bailee Agreement, and Lender or its designee will not release Collateral Documents to a certifying custodian unless Lender or its designee has received a signed tri-party custodial agreement from such custodian, in a form acceptable to Lender. Lender shall have no obligation to release any Collateral Documents to any certifying custodian that will not sign a custodial agreement acceptable to Lender. Notwithstanding the foregoing, Lender shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(d), and the security interest granted to Lender in the related Pledged Mortgage Loan shall continued unimpaired until the Collateral Documents are returned to, or proceeds thereof are received by, Lender. Borrower shall pay for all costs of the certifying custodian and use its best efforts to ensure that the issuer delivers the Mortgage-Backed Securities to the certifying custodian.

Delivery of Collateral Documents Relating to Mortgage-Backed Securities. Upon the written request of Borrower, Lender may, at its option and in its sole but reasonable discretion, deliver to the certifying custodian the Collateral Documents relating to those Pledged Mortgage Loans that will be pooled to support a Mortgage-Backed Security. All such Pledged Mortgage Loans and the related Collateral Documents shall at all times by be covered by a Bailee Agreement, and Lender or its designee will not release Collateral Documents to a certifying custodian unless Lender or its designee has received a signed tri-party custodial agreement from such custodian, in a form acceptable to Lender. Lender shall have no obligation to release any Collateral Documents to any certifying custodian that will not sign a custodial agreement acceptable to Lender. Notwithstanding the foregoing, Lender shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(d), and the security interest granted to Lender in the related Pledged Mortgage Loan shall continued unimpaired until the Collateral Documents are returned to, or proceeds thereof are received by, Lender. Borrower shall pay for all costs of the certifying custodian and use its best efforts to ensure that the issuer delivers the Mortgage-Backed Securities to the certifying custodian.

Delivery of Collateral Documents Relating to Mortgage-Backed Securities. Upon the written request of BorrowerSeller, Lender Buyer may, at its option and in its sole but reasonable discretion, deliver to the certifying custodian the Collateral Documents relating to those Pledged Purchased Mortgage Loans that will be pooled to support a Mortgagemortgage-Backed Securitybacked security. All such Pledged Purchased Mortgage Loans and the related Collateral Documents shall at all times by covered by a Bailee Agreementbailee agreement in a form acceptable to Buyer, and Lender or its designee Buyer will not instruct Custodian to release Collateral Documents to a certifying custodian unless Lender or its designee Buyer has received a signed tri-party custodial agreement from such custodian, in a form acceptable to LenderBuyer. Lender Buyer shall have no obligation to release any Collateral Documents to any certifying custodian that will not sign a custodial agreement acceptable to LenderBuyer. Notwithstanding the foregoing, Lender Buyer shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(d8.4(d), and the security interest granted to Lender Buyer in the related Pledged Purchased Mortgage Loan shall continued unimpaired until the Collateral Documents are returned to, or proceeds thereof are the Repurchase Price is received by, LenderBuyer. Borrower Seller shall pay for all costs of the certifying custodian and use its best efforts to ensure that the issuer delivers the Mortgagemortgage-Backed Securities backed securities to the certifying custodian.

Delivery of Collateral Documents Relating to Mortgage-Backed Securities. Upon the written request of Borrower, Lender may, at its option and in its sole but reasonable discretion, deliver to the certifying custodian the Collateral Documents relating to those Pledged Mortgage Loans that will be pooled to support a Mortgage-Backed Security. All such Pledged Mortgage Loans and the related Collateral Documents shall at all times by covered by a Bailee Agreement, and Lender or its designee will not release Collateral Documents to a certifying custodian unless Lender or its designee has received a signed tri-party custodial agreement from such custodian, in a form acceptable to Lender. Lender shall have no obligation to release any Collateral Documents to any certifying custodian that will not sign a custodial agreement acceptable to Lender. Notwithstanding the foregoing, Lender shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(dSECTION 6.4(D), and the security interest granted to Lender in the related Pledged Mortgage Loan shall continued unimpaired until the Collateral Documents are returned to, or proceeds thereof are received by, Lender. Borrower shall pay for all costs of the certifying custodian and use its best efforts to ensure that the issuer delivers the Mortgage-Backed Securities to the certifying custodian.