Common use of Delivery of Mortgage Loan Files Clause in Contracts

Delivery of Mortgage Loan Files. Not later than two Business Days prior to the Closing Date, the Seller shall deliver to the Custodian, on behalf of the Indenture Trustee, each of the Mortgage Loan Documents required to be included in the Mortgage File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E hereto. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Mortgage Note for each Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee and the Mortgage for each Mortgage Loan shall be assigned to the Indenture Trustee. Each endorsement of a Mortgage Note to the Indenture Trustee shall be in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan Trust 1998-3 dated as of December 1, 1998." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, endorsed and assigned in blank, and in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian as soon as possible after the Closing Date so the Custodian can send them out for recording as appropriate. Prior to the transfer and sale of the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, shall be held by the Custodian, on behalf of the Indenture Trustee, for the benefit of the Seller, and the possession by the Custodian, on behalf of the Indenture Trustee, of such Mortgage Loan Documents will be at the will of the Seller and will be in a custodial capacity only. Following the transfer and sale of the Mortgage Loans from the Seller to the Depositor in accordance with the terms and upon satisfaction of the conditions of this Agreement and until transfer of the Mortgage Loans to the Issuer, the Custodian, on behalf of the Indenture Trustee, will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the Depositor, as its agent and bailee. The Custodian will act on the Depositor 's behalf as a custodian for the receipt and custody of all Mortgage Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans to the Issuer, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer to the Indenture Trustee.

Appears in 1 contract

Samples: Mortgage Loan Sale Agreement (Residential Asset Funding Corp)

AutoNDA by SimpleDocs

Delivery of Mortgage Loan Files. Not later than two three Business Days prior to the Closing Date, the Seller shall deliver to _______________________, as custodian (the "Custodian, on behalf of the Indenture Trustee"), each of the Mortgage Loan Documents required to be included in the Trustee Mortgage Loan File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E heretoLoan. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the The Mortgage Note for each Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee (as the designee of the Company) or the Custodian (or in blank), and the Mortgage for each Mortgage Loan shall be assigned to the Indenture TrusteeTrustee or the Custodian (or in blank). Each endorsement of a Mortgage Note to the Indenture Trustee shall be in the following form: Sales Agreement 3 WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA------------------------------ AS TRUSTEE u/a DATED AS OF ________ 1, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE 19__ Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION____________________________, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan Trust 1998-3 u/a w/Deutsche Financial Capital Securitization LLC and Oakwood Acceptance Corporation dated as of December ________ 1, 1998." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, endorsed and assigned in blank, and in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian as soon as possible after the Closing Date so the Custodian can send them out for recording as appropriate19__. Prior to the transfer and sale of the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, Custodian shall be held by the Custodian, on behalf of the Indenture Trustee, Custodian for the benefit of the Seller, and the possession by the Custodian, on behalf of the Indenture Trustee, Custodian of such Mortgage Loan Documents will be at the will of the Seller and will be in a custodial capacity only. Following the transfer and sale of the Mortgage Loans from the Seller to the Depositor Company in accordance with the terms and upon satisfaction of the conditions of this Agreement and until transfer of the Mortgage Loans to the IssuerAgreement, the Custodian, on behalf of the Indenture Trustee, Custodian will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the DepositorCompany, as its agent and bailee. The Custodian will act on the Depositor Company's behalf as a custodian for the receipt and custody of all Trustee Mortgage Loan Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans from the Company to the IssuerTrust, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until Trustee in order to effect the transfer and sale of the Mortgage Loans are pledged by from the Issuer Company to the Indenture TrusteeTrust.

Appears in 1 contract

Samples: Sales Agreement (Deutsche Financial Capital Securitization LLC)

Delivery of Mortgage Loan Files. Not later than two Business Days prior to the Closing Date, the Seller shall deliver to the Custodian, on behalf of the Indenture Trustee, each of the Mortgage Loan Documents required to be included in the Mortgage File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E hereto. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Mortgage Note for each Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee and the Mortgage for each Mortgage Loan shall be assigned to the Indenture Trustee. Each endorsement of a Mortgage Note to the Indenture Trustee shall be in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan Trust 1998-3 1 dated as of December March 1, 1998." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, endorsed and assigned in blank, and in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian as soon as possible after the Closing Date so the Custodian can send them out for recording as appropriate. Prior to the transfer and sale of the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, shall be held by the Custodian, on behalf of the Indenture Trustee, for the benefit of the Seller, and the possession by the Custodian, on behalf of the Indenture Trustee, of such Mortgage Loan Documents will be at the will of the Seller and will be in a custodial capacity only. Following the transfer and sale of the Mortgage Loans from the Seller to the Depositor in accordance with the terms and upon satisfaction of the conditions of this Agreement and until transfer of the Mortgage Loans to the Issuer, the Custodian, on behalf of the Indenture Trustee, will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the Depositor, as its agent and bailee. The Custodian will act on the Depositor 's behalf as a custodian for the receipt and custody of all Mortgage Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans to the Issuer, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer to the Indenture Trustee.

Appears in 1 contract

Samples: Mortgage Loan Sale Agreement (Prudential Securities Secured Financing Corp)

Delivery of Mortgage Loan Files. Not later than two Business Days prior to the Subsequent Closing Date, the Seller SMF shall deliver to Deutsche Bank Trust Company Americas, as custodian (the "Custodian, on behalf of the Indenture Trustee"), each of the Mortgage Loan Documents required to be included in the Mortgage File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E heretoFile. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the The Mortgage Note for each such Subsequent Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee or Custodian or in blank, and the Mortgage Security Instrument for each such Subsequent Mortgage Loan shall either name the Custodian as mortgagee or beneficiary, as appropriate, or be assigned to the Indenture TrusteeTrustee or Custodian or in blank. Each such endorsement of a Mortgage Note to the Indenture Trustee and assignment shall be substantially in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan Trust 1998-3 dated as of December 1, 1998." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, endorsed and assigned in blank, and set forth in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian as soon as possible after the Closing Date so the Custodian can send them out for recording as appropriateCustody Agreement. Prior to the transfer and sale of any Subsequent Mortgage Loans, the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, Custodian shall be held by the Custodian, on behalf of the Indenture Trustee, Custodian for the benefit of the Seller, SMF and the possession by the Custodian, on behalf of the Indenture Trustee, Custodian of such Mortgage Loan Documents will be at the will of the Seller SMF and will be in a custodial capacity only. Following the transfer and sale of the any Subsequent Mortgage Loans from the Seller SMF to the Depositor SAXON in accordance with the terms and upon satisfaction of the conditions of this Agreement Agreement, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of SAXON, as its agent and until bailee. The Custodian, who will also act as the Trustee, will act as a custodian for the receipt and custody of all Mortgage Files, and, after the transfer of the any Subsequent Mortgage Loans from SAXON to the IssuerTrust, the Custodian, on behalf of the Indenture Trustee, Custodian will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the Depositor, as its agent and bailee. The Custodian will act Trustee on the Depositor 's behalf as a custodian for the receipt and custody of all Mortgage Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans to the Issuer, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer to the Indenture TrusteeCertificateholders.

Appears in 1 contract

Samples: Subsequent Sales Agreement (Saxon Asset Securities Co)

Delivery of Mortgage Loan Files. Not later than two three Business Days prior to the Closing Date, Date the Seller shall deliver to ____________________________, as trustee (the Custodian, on behalf of the Indenture "Trustee"), each of the Mortgage Loan Documents required to be included in the Trustee Mortgage Loan File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E heretoLoan. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the The Mortgage Note for each Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee (as the designee of OMI), and the Mortgage for each Mortgage Loan shall be assigned to the Indenture Trustee. Each endorsement of a Mortgage Note to the Indenture Trustee trustee shall be in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA[---------------------------------------] AS TRUSTEE u/a DATED AS OF _________ __, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE ___ Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION___________________________, AS INDENTURE TRUSTEE under an Indenture with u/a w/Oakwood Mortgage Lenders Network Home Equity Loan Trust 1998-3 Investors, Inc. and Oakwood Acceptance Corporation dated as of December 1____ __, 1998____." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, endorsed and assigned in blank, and in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian as soon as possible after the Closing Date so the Custodian can send them out for recording as appropriate. Prior to the transfer and sale of the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, Trustee shall be held by the Custodian, on behalf of the Indenture Trustee, Trustee for the benefit of the Seller, and the possession by the Custodian, on behalf of the Indenture Trustee, Trustee of such Mortgage Loan Documents will be at the will of the Seller and will be in a custodial capacity only. Following the transfer and sale of the Mortgage Loans from the Seller to the Depositor OMI in accordance with the terms and upon satisfaction of the conditions of this Agreement and until transfer of the Mortgage Loans to the IssuerAgreement, the Custodian, on behalf of the Indenture Trustee, Trustee will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the DepositorOMI, as its agent and bailee. The Custodian Trustee will act on the Depositor OMI's behalf as a custodian for the receipt and custody of all Trustee Mortgage Loan Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans from OMI to the IssuerTrust, the Custodian Trustee will hold all Mortgage Loan Documents delivered to it hereunder as custodian in order to effect the agent transfer and sale of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer from OMI to the Indenture TrusteeTrust.

Appears in 1 contract

Samples: Sales Agreement (Oakwood Mortgage Investors Inc)

AutoNDA by SimpleDocs

Delivery of Mortgage Loan Files. Not later than two Business Days prior to the Closing Date, the Seller shall deliver to the Custodian, on behalf of the Indenture Trustee, Trustee each of the Mortgage Loan Documents required to be included in the Mortgage File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E heretoLoan. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the The Mortgage Note for each Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee and the Mortgage for each Mortgage Loan shall be assigned to the Indenture Trustee. Each endorsement of a Mortgage Note to the Indenture Trustee shall be in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan w/Fund America Investors Trust 19981997-3 NMC1 dated as of December September 1, 19981997." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, Trustee endorsed and assigned in blank, and in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, Trustee shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian Seller as soon as possible after the Closing Date so the Custodian Seller can send them out for recording as appropriaterecording. Prior to the transfer and sale of the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, Trustee shall be held by the Custodian, on behalf of the Indenture Trustee, Trustee for the benefit of the Seller, and the possession by the Custodian, on behalf of the Indenture Trustee, Trustee of such Mortgage Loan Documents will be at the will of the Seller and will be in a custodial capacity only. Following the transfer and sale of the Mortgage Loans from the Seller to the Depositor FAIC II in accordance with the terms and upon satisfaction of the conditions of this Agreement and until transfer of the Mortgage Loans to the Issuer, the Custodian, on behalf of the Indenture Trustee, Trustee will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the DepositorFAIC II, as its agent and bailee. The Custodian Indenture Trustee will act on the Depositor FAIC II's behalf as a custodian for the receipt and custody of all Mortgage Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans from FAIC II to the Issuer, the Custodian Indenture Trustee will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer to the Indenture Trustee.

Appears in 1 contract

Samples: Mortgage Loan Sale Agreement (Fund America Investors Corp Ii)

Delivery of Mortgage Loan Files. Not later than two Business Days prior to the Closing Date, the Seller shall deliver to the Custodian, on behalf of the Indenture Trustee, Trustee each of the Mortgage Loan Documents required to be included in the Mortgage File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E heretoLoan. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the The Mortgage Note for each Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee and the Mortgage for each Mortgage Loan shall be assigned to the Indenture Trustee. Each endorsement of a Mortgage Note to the Indenture Trustee shall be in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION ASSOCIATION, AS INDENTURE TRUSTEE Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan w/Fund America Investors Trust 1998-3 NMC1 dated as of December June 1, 1998." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, Trustee endorsed and assigned in blank, and in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, Trustee shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian Seller as soon as possible after the Closing Date so the Custodian Seller can send them out for recording as appropriaterecording. Prior to the transfer and sale of the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, Trustee shall be held by the Custodian, on behalf of the Indenture Trustee, Trustee for the benefit of the Seller, and the possession by the Custodian, on behalf of the Indenture Trustee, Trustee of such Mortgage Loan Documents will be at the will of the Seller and will be in a custodial capacity only. Following the transfer and sale of the Mortgage Loans from the Seller to the Depositor FAIC II in accordance with the terms and upon satisfaction of the conditions of this Agreement and until transfer of the Mortgage Loans to the Issuer, the Custodian, on behalf of the Indenture Trustee, will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the Depositor, as its agent and bailee. The Custodian will act on the Depositor 's behalf as a custodian for the receipt and custody of all Mortgage Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans to the Issuer, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer to the Indenture Trustee.terms

Appears in 1 contract

Samples: Mortgage Loan Sale Agreement (Fund America Investors Corp Ii)

Delivery of Mortgage Loan Files. Not later than two Business Days prior to the Closing Date (or a Subsequent Sales Date, the Seller ) Aegis Mortgage shall deliver to _____________, as custodian (the "Custodian, on behalf of the Indenture Trustee"), each of the Mortgage Loan Documents required to be included in the Mortgage File for each Mortgage Loan and an assignment of Mortgage endorsed in blank substantially in the form of Exhibit E heretoFile. In the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the The Mortgage Note for each such Mortgage Loan shall be endorsed by the Custodian without recourse to the Indenture Trustee or Custodian or in blank, and the Mortgage Security Instrument for each such Mortgage Loan shall either name the Custodian as mortgagee or beneficiary, as appropriate, or be assigned to the Indenture TrusteeTrustee or Custodian or in blank. Each such endorsement of a Mortgage Note to the Indenture Trustee and assignment shall be substantially in the following form: WITHOUT RECOURSE, PAY TO THE ORDER OF NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION AS INDENTURE TRUSTEE Each assignment of a Mortgage relating to a Mortgage Loan shall be made to "NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION, AS INDENTURE TRUSTEE under an Indenture with Mortgage Lenders Network Home Equity Loan Trust 1998-3 dated as of December 1, 1998." The Seller shall deliver the Mortgage Notes and the assignments of Mortgage in recordable form to the Custodian, on behalf of the Indenture Trustee, endorsed and assigned in blank, and set forth in the event that the assignment of mortgage is recorded in accordance with Section 3(d) hereof, the Custodian, on behalf of the Indenture Trustee, shall fill in the endorsements and assignments as specified above by stamp. The Indenture Trustee shall return the completed assignments of Mortgage to the Custodian as soon as possible after the Closing Date so the Custodian can send them out for recording as appropriateCustody Agreement. Prior to the transfer and sale of any Mortgage Loans, the Mortgage Loans pursuant to this Agreement, all Mortgage Loan Documents delivered to the Custodian, on behalf of the Indenture Trustee, Custodian shall be held by the Custodian, on behalf of the Indenture Trustee, Custodian for the benefit of the Seller, Aegis Mortgage and the possession by the Custodian, on behalf of the Indenture Trustee, Custodian of such Mortgage Loan Documents will be at the will of the Seller Aegis Mortgage and will be in a custodial capacity only. Following the transfer and sale of the any Mortgage Loans from the Seller Aegis Mortgage to the Depositor Aegis in accordance with the terms and upon satisfaction of the conditions of this Agreement Agreement, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of Aegis, as its agent and until bailee. The Custodian, who will also act as the Trustee, will act as a custodian for the receipt and custody of all Mortgage Files, and, after the transfer of the any Mortgage Loans from Aegis to the IssuerTrust, the Custodian, on behalf of the Indenture Trustee, Custodian will hold all Mortgage Loan Documents delivered to it hereunder for the benefit of the Depositor, as its agent and bailee. The Custodian will act Trustee on the Depositor 's behalf as a custodian for the receipt and custody of all Mortgage Files during the period described in the preceding sentence and, after the transfer of the Mortgage Loans to the Issuer, the Custodian will hold all Mortgage Loan Documents delivered to it hereunder as the agent of and custodian for the Issuer until the Mortgage Loans are pledged by the Issuer to the Indenture TrusteeCertificateholders.

Appears in 1 contract

Samples: Sales Agreement (Aegis Asset Backed Securities Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!