Document Custodian. The Company shall retain and enter into and, at all times, be a party to a Custodial Agreement with a document custodian (the “Document Custodian”) who is a Qualified Custodian, and such Document Custodian shall at all times have custody and possession of the Notes and other Custodial Documents. At no time shall the Company have more than one Document Custodian. The fees and expenses paid to the Document Custodian shall be no more than market rates and the Custodial Agreement shall be terminable by the Company or the Participant upon no more than thirty (30) days’ notice, without cause thereunder. In the event that the Company (or the Servicer) removes any original Notes or other Custodial Documents from the possession of the Document Custodian (which shall be done only in accordance with the Custodial Agreement), (i) any loss or destruction of or damage to such Notes or Custodial Documents shall be the liability of the Company (who, along with the Servicer, shall be responsible for safeguarding such Notes and Custodial Documents) and (ii) such Notes shall be returned to the Document Custodian within the time provided under the applicable Uniform Commercial Code to maintain the Participant’s perfection thereof by possession. If any Notes or other Custodial Documents are removed in connection with the modification or restructuring of a Loan, the modified or restructured Notes and other Custodial Documents removed in connection therewith shall be returned to the Document Custodian as soon as possible following the completion of the restructuring or modification (and, in any event, in accordance with clause (ii) of the immediately preceding sentence). The Company shall ensure that the Participant receives a copy of each demand, notice or other communication given under the Custodial Agreement at the time that such notice or other communication is given thereunder.
Document Custodian. The Document Custodian shall take and retain custody of the Loan Files delivered by the Borrower hereunder in accordance with the terms and conditions of this Agreement, all for the benefit of the Collateral Agent and the other Secured Parties, in order to perfect under the UCC the Collateral Agent’s security interest therein for the benefit of the Secured Parties. In taking and retaining custody of the Loan Files, the Document Custodian shall be deemed to be acting as the agent of Collateral Agent for the benefit of the Secured Parties; provided that the Document Custodian makes (a) no warranty or representation and shall have no responsibility for the enforceability, completeness, validity, sufficiency, value, genuineness, ownership or transferability of the Collateral Assets and (b) no representation as to the existence, perfection or priority of any lien on the Collateral Assets or the Required Loan Documents. It is expressly agreed and acknowledged that the Document Custodian is not guaranteeing performance of or assuming any liability for the obligations of the other parties hereto or any parties to the Collateral Assets.
Document Custodian. MSR Owner shall be responsible for all ongoing fees and costs charged by its Document Custodian after the related Agency Delivery Date.
Document Custodian. With respect to the Mortgage Loans subject to the PLS Servicing Agreements, the current Custodian will continue to act as the Custodian after each Servicing Transfer Date. With respect to the other Mortgage Loans, Bank of America, N.A., acting through its contractor and wholly owned subsidiary, ReconTrust Company, N.A., shall act as the initial Custodian for Purchaser as of each Servicing Transfer Date. The fees and expenses of any Custodian, and other costs of delivery of documents with respect to any Mortgage Loan to any Custodian, other than the Custodian used with respect to such Mortgage Loan as of the Sale Date shall be borne by the Purchaser.
Document Custodian. Each Seller shall pay for any and all costs and expenses relating to the transfer of servicing to Purchaser, including without limitation any transfer or delivery expenses for the shipment of the Mortgage Loan Documents to Purchaser and Custodian. Section 7.20
Document Custodian. The Document Custodian is hereby appointed as the custodian for each instrument of the type described in Section 9.05(a) hereof other than letters of credit (all such instruments, the “Custody Documents”), in each case except to the extent that the Collateral Agent directs that such items be provided to it. The Borrower shall deliver, or cause to be delivered, all Custody Documents to the Document Custodian in physical form at the address specified on Schedule 11.02(a) hereof. The Document Custodian shall hold all Custody Documents received by it in physical form (or, if applicable, electronic form) at one of its offices in the United States (for purposes hereof, the “Custodial Office”). The Document Custodian may change the Custodial Office at any time and from time to time upon notice to the Borrower, the Collateral Manager, the Collateral Agent and the Administrative Agent, provided that the replacement Custodial Office shall be an office of the Document Custodian located in the United States. All Custody Documents held by the Document Custodian shall be available for inspection by the Administrative Agent and the Lenders upon prior written request and during normal business hours of the Document Custodian. Any such inspection shall occur no earlier than five Business Days after such inspection is requested in writing and the costs of such inspection shall be borne by the requesting party. The Administrative Agent (including its representatives and designees) may not request more than two inspections per year or, if an Event of Default has occurred and is continuing no more than once a month. Notwithstanding anything to the contrary herein, the Document Custodian shall not be required to hold or accept custody of any other document hereunder to the extent such document is of a type not approved for deposit into the custodial vault of the Document Custodian. For the avoidance of doubt, the Document Custodian shall not be required to review or provide any certifications in respect of Custody Documents delivered and held by it. For the avoidance of doubt, other than in respect of Custody Documents, the Document Custodian shall not be required to hold custody of underlying agreements, related contracts or documents related to the Collateral. Any Custody Documents delivered to the Document Custodian shall be accompanied by a checklist identifying such documents and referencing this transaction. After the occurrence and during the continuance of an Event of D...
Document Custodian. The Seller will deliver the Mortgages for certification to the Document Custodian indicated on the Servicer’s Tri-Party Agreement. Name Telephone number ( ) ext. Address Document Custodian number City State ZIP Custodial agreement number Terms and Conditions: Chapters and sections cited in this Agreement refer to, and definitions of capitalized terms used but not defined herein are found in, Xxxxxxx Mac’s Single-Family Seller/Servicer Guide (the “Guide”). Subject to Xxxxxxx Mac’s prior approval and in accordance with Chapter 7101 and the terms and conditions of in the Purchase Documents, on the Settlement Date of the Mortgages that the Seller has identified in Loan Selling Advisor® as subject to this Agreement (the “Mortgages”), there will be a Concurrent Transfer of Servicing of the identified Mortgages from the Seller to the above- designated Servicer. The Seller and Servicer each hereby acknowledge, covenant represent and warrant to Xxxxxxx Mac and agree to be jointly responsible for all of the Seller’s covenants, representations and warranties concerning the Mortgages purchased by Xxxxxxx Mac. The Servicer hereby agrees to service the Mortgages in accordance with the Servicing Contract.
Document Custodian. Norwest Bank Minnesota, National Association or its ------------------ successor in interest under Section 3.8 of the Custodial Agreement, and any Person that is appointed as successor document custodian in accordance with the terms of the Custodial Agreement.
Document Custodian. Pursuant to the Document Custody Agreement, the Document Custodian (or its counsel approved in writing by the Lender pursuant to the Document Custody Agreement, subject to delivery of a Bailee Letter acceptable to the Lender) shall hold the Asset Files as exclusive bailee and agent for the Lender and shall deliver to the Lender a Trust Receipt with respect to each Asset to the effect that the Document Custodian has reviewed such Asset Files in the manner and to the extent required by the Document Custody Agreement and identifying any deficiencies in such Asset Files so reviewed.
Document Custodian. The Bank may act as Document Custodian from time to time, as requested by the Company to facilitate the Company's sale of Pledged Loans to the Approved Investors or other investors. The Bank represents that it currently (i) satisfies the criteria under the applicable GNMA, FNMA and FHLMC guidelines for acting as a document custodian for GNMA, FNMA and FHLMC, as the case may be, and (ii) has facilities and procedures in place to act as a document custodian in compliance with the requirements of GNMA, FHLMC and FNMA. The Bank will promptly notify the Company in the event that either of the foregoing shall no longer be correct. The Company shall pay to the Bank such fees for the performance of the Bank's duties hereunder as may from time to time be agreed upon by the Company and the Bank. The Company shall also reimburse the Bank for all reasonable out-of-pocket expenses incurred by the Bank in connection with the transmittal and delivery of any Pledged Loan or related documents to any third party.
