Common use of Delivery of Loans Clause in Contracts

Delivery of Loans. (a) Upon the acquisition of any Collateral by the Borrower, the ownership of each transferred Underlying Instrument and the contents of each Loan File will be vested in the Borrower. Each Loan and Related Security transferred to the Borrower shall immediately and without further action automatically become part of the Collateral. (b) Pursuant to and in accordance with the terms of Section 3.2(c), the Borrower will deliver, or cause to be delivered, to the Trustee the Required Loan Documents accompanied by the related Loan Checklist relating to each Loan being transferred on such Funding Date.

Delivery of Loans. (a) Upon the acquisition of any Collateral by the BorrowerSeller, the ownership of each transferred Underlying Instrument and the contents of each Loan File will be vested in the BorrowerSeller. Each Loan and Related Security transferred to the Borrower Seller shall immediately and without further action automatically become part of the Collateral. (b) Pursuant to and in accordance with the terms of Section 3.2(c), the Borrower Seller will deliver, or cause to be delivered, to the Trustee the Required Loan Documents accompanied by the related Loan Checklist relating to each Loan being transferred on such Funding Date.

Delivery of Loans. (a) Upon the acquisition of any Collateral by the Borrower, the ownership of each transferred Underlying Instrument and the contents of each Loan File will be vested in the Borrower. Each Loan and Related Security transferred to the Borrower shall immediately and without further action automatically become part of the Collateral. (b) Pursuant to and in accordance with the terms of Section 3.2(c), the Borrower will deliver, or cause to be delivered, to the Trustee the Required Loan Documents accompanied by the related Loan Checklist relating to each Loan being transferred to the Borrower on such Funding Date.