Dry Mortgage Loans Sample Clauses

Dry Mortgage Loans. Prior to the funding of any Advance secured from the date of funding by a Dry Mortgage Loan, Borrower shall deliver to Lender or its Custodian, or authorize and direct the Closing Agent to deliver to Lender or its Custodian, with respect to each Dry Mortgage Loan, the Collateral Documents along with those additional documents set forth in Sections 7.1 and 7.2, as applicable.

Dry Mortgage Loans. Prior to any Transaction related to a Dry Mortgage Loan (including eMortgage Loans), Seller shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the related Mortgage Loan Documents in accordance with and pursuant to the terms of Section 7.2 hereof and the Custodial Agreement; provided that, with respect to any eMortgage Loan, Seller shall deliver to Custodian each of Buyer’s and Seller’s MERS Org IDs, and shall cause (i) the Authoritative Copy of the related eNote to be delivered to the eVault via a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Buyer, (iii) the Location status of the related eNote to be transferred to Custodian, and (iv) the Delegatee status of the related eNote to be transferred to Custodian, in each case using MERS eDelivery and the MERS eRegistry (collectively, the “eNote Delivery Requirements”).

Dry Mortgage Loans. Prior to any Transaction the subject of which is a Purchased Asset related to a Dry Mortgage Loan (including eMortgage Loans and any Dry Mortgage Loan that is a Certified Mortgage Loan), Nationstar Parties shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the related Mortgage Loan Documents in accordance with and pursuant to the terms of Section 7.2 hereof and the Custodial Agreement (if any); provided that, with respect to: (1) any eMortgage Loan that is not a Correspondent Mortgage Loan, Nationstar Parties shall deliver to Custodian each of Buyer’s and Guarantor’s MERS Org ID, and shall cause, in each case using MERS eDelivery and the MERS eRegistry (i) the Authoritative Copy of the related eNote to be delivered to the eVault via a secure electronic file, (ii) other than with respect to a ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ Pooled Loan, the Controller status of the related eNote to be transferred to Buyer, (iii) with respect to a ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ Pooled Loan, the Controller status of the related eNote to reflect the MERS Org ID of Guarantor from that of Buyer’s MERS Org ID and the eNote Secured Party status of the related eNote to reflect the MERS Org ID of ▇▇▇▇▇▇ ▇▇▇, (iv) the Location status of the related eNote to be transferred to Custodian, (v) the Master Servicer Field status of the related eNote shall reflect the MERS Org ID of the Guarantor, (vi) the Subservicer Field status of the related eNote to be (x) if there is a third-party subservicer, such subservicer’s MERS Org ID or (y) if there is not a subservicer, blank, (vii) the Delegatee status of the eNote

Dry Mortgage Loans. Section 3.3(a) of the Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:

Dry Mortgage Loans. Prior to any Transaction the subject of which is a Purchased Asset related to a Dry Mortgage Loan (including any Dry Mortgage Loan that is a Certified Mortgage Loan), Nationstar Parties shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the related Mortgage Loan Documents in accordance with and pursuant to the terms of Section 7.2 hereof and the Custodial Agreement.

Dry Mortgage Loans. Prior to any Transaction the subject of which is a Purchased Asset related to a Dry Mortgage Loan (including eMortgage Loans), LEGAL02/41056137v5 loanDepot Parties shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the related Mortgage Loan Documents; provided that, with respect to an eMortgage Loan, loanDepot Parties shall deliver to Custodian each of Buyer’s and Guarantor’s MERS Org IDs, and shall cause (i) the Authoritative Copy of the related eNote to be delivered to the eVault via a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Buyer, (iii) the Location status of the related eNote to be transferred to Custodian, (iv) the Delegatee status of the related eNote to be transferred to Custodian, in each case using MERS eDelivery and the MERS eRegistry, (v) the Master Servicer Field status of the related eNote shall reflect the MERS Org ID of the Seller and (vi) the Subservicer Field status of the related eNote to be (x) if there is a third-party subservicer, such subservicer’s MERS Org ID or (y) if there is not a subservicer, blank (collectively, the “eNote Delivery Requirements”).

Dry Mortgage Loans. Prior to any Transaction related to a Dry Mortgage Loan (including eMortgage Loans), Seller shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the related Mortgage Loan Documents; provided that, with respect to an eMortgage Loan, Seller shall deliver to Custodian each of Buyer’s and Seller’s MERS Org IDs, and shall cause (i) the Authoritative Copy of the related eNote to be delivered to the eVault via a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Buyer, (iii) the Location status of the related eNote to be transferred to Custodian, and (iv) the Delegatee status of the related eNote to be transferred to Custodian, in each case using MERS eDelivery and the MERS eRegistry (collectively, the “eNote Delivery Requirements”).

Dry Mortgage Loans. Prior to any Transaction related to a Dry Mortgage Loan (including eMortgage Loans), Seller shall deliver to Administrative Agent, on behalf of Buyers, or its Custodian, or authorize, direct and cause the Closing Agent to deliver to Administrative Agent, on behalf of Buyers, or its Custodian, any related Mortgage Loan Documents in accordance with and pursuant to the terms of Section 7.2 and the Custodial Agreement; including, with respect to any eMortgage Loan, the eRegistry transfer items and items required to be delivered by Seller to the Custodian using MERS eDelivery and the MERS eRegistry pursuant to and in accordance with Section 2(a) of the Custodial Agreement. ​

Dry Mortgage Loans. Prior to any Transaction related to a Dry Mortgage Loan, Guarantor shall deliver to Buyer or a Custodian, or authorize, direct and cause the Closing Agent to deliver to Buyer or a Custodian, any related Dry Mortgage Loan Documents in accordance with and pursuant to the terms of Section 7.2 and the applicable Custodial Agreement. In addition, with respect to a Transaction the subject of which is a Dry Mortgage Loan, upon the occurrence and during the continuance of a Potential Default or an Event of Default, Guarantor shall deliver to Buyer or a Custodian the related Mortgage Loan Documents and shall authorize, direct and cause the Closing Agent to deliver the related Mortgage Loan Documents directly to Buyer or a Custodian.