Common use of Delivery of Collateral Documents to Investors Clause in Contracts

Delivery of Collateral Documents to Investors. Upon the written request of Borrower, Lender may, at its option and in its sole but reasonable discretion, deliver to the Investor set forth in the related Purchase Commitment, or its custodian, the Collateral Documents relating to a specified Pledged Mortgage Loan. All such Pledged Mortgage Loans and the related Collateral Documents shall at all times be covered by one or more Bailee Agreements, and Lender or its designee will not release Collateral Documents to an Investor unless Lender or its Custodian has received a signed Bailee Agreement from the Investor. Notwithstanding the foregoing, Lender shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(c), 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. If the Investor does not purchase a Pledged Mortgage Loan as contemplated by the related Purchase Commitment, Borrower, upon the request of Lender, shall assist Lender in the recovery of any Collateral Documents not returned by the Investor to Lender.

Delivery of Collateral Documents to Investors. Upon the written request of Borrower, Lender may, at its option shall subject to the Approved Investor List as provided in the Lender's handbook and in its sole but reasonable discretionas periodically revised, deliver to the Investor set forth in the related Purchase Commitment, or its custodian, the Collateral Documents relating to a specified Pledged Mortgage Loan. All such Pledged Mortgage Loans and the related Collateral Documents shall at all times be covered by one or more Bailee Agreements, and Lender or its designee will not release Collateral Documents to an Investor unless Lender or its Custodian has received a signed Bailee Agreement from the Investor. Notwithstanding the foregoing, Lender shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(c), 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. If the Investor does not purchase a Pledged Mortgage Loan as contemplated by the related Purchase Commitment, Borrower, upon the request of Lender, shall assist Lender in the recovery of any Collateral Documents not returned by the Investor to Lender.

Delivery of Collateral Documents to Investors. Upon the written request of Borrower, Lender may, at its option and in its sole but reasonable discretion, deliver to the Investor set forth in the related Purchase Commitment, or its custodian, the Collateral Documents relating to a specified Pledged Mortgage Loan. All such Pledged Mortgage Loans and the related Collateral Documents shall at all times be covered by one or more Bailee Agreements, and Lender or its designee will not release Collateral Documents to an Investor unless Lender or its Custodian has received a signed Bailee Agreement from the Investor. Notwithstanding the foregoing, Lender shall be deemed to be in possession of any Collateral Documents released pursuant to this Section 6.4(cSECTION 6.4(C), 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. If the Investor does not purchase a Pledged Mortgage Loan as contemplated by the related Purchase Commitment, Borrower, upon the request of Lender, shall assist Lender in the recovery of any Collateral Documents not returned by the Investor to Lender.