Common use of Due-on-Sale Clauses; Assumption Agreements Clause in Contracts

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement.

Appears in 41 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac2)

AutoNDA by SimpleDocs

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related applicable Purchase and Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer Servicers to enforce such clauses in accordance with this Agreement or the related applicable Purchase and Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related applicable Purchase and Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related applicable Purchase and Servicing Agreement.

Appears in 24 contracts

Samples: Pooling and Servicing Agreement (Mastr Seasoned Securitization Trust 2003-1), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-8), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc MRT Ps THR Certs Ser 2003-3)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause enforce the obligation of the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement, Custodial Agreement (SACO I Trust 2006-6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He4)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related MortgageIT Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related MortgageIT Servicing Agreement. If applicable law prohibits the enforcement of a due-due- on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related MortgageIT Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related MortgageIT Servicing Agreement.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-3, Mortgage-Backed Notes, Series 2005-3), Sale and Servicing Agreement (MortgageIT Trust 2005-5, Mortgage-Backed Notes, Series 2005-5), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-4, Mortgage-Backed Notes, Series 2005-4)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this the Purchase and Servicing Agreement or the related Servicing Agreement, and to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Purchase and Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Purchase and Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Purchase and Servicing Agreement.

Appears in 2 contracts

Samples: Execution (PHH Mortgage Trust, Series 2008-Cim2), Sale and Servicing Agreement (PHH Mortgage Trust, Series 2008-Cim1)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this the Mortgage Loan Purchase and Servicing Agreement or the related Servicing Agreement, and to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Mortgage Loan Purchase and Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Mortgage Loan Purchase and Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Mortgage Loan Purchase and Servicing Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2), Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause enforce any obligation of the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement.

Appears in 2 contracts

Samples: Distribution Instructions (Mortgage Pass-Through Certificates, Series 2005-5), Distribution Instructions (Saco I Trust 2005-5)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause enforce the Company and obligation of the related Servicer to enforce such clauses in accordance with this Agreement or the related Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement.

Appears in 2 contracts

Samples: Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Im1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Im1)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related MortgageIT Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related MortgageIT Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related MortgageIT Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related MortgageIT Servicing Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (MortgageIT Trust 2004-1)

AutoNDA by SimpleDocs

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause enforce the obligation of the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage-Backed Certificates, Series 2005-7)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related applicable Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause enforce the obligation of the Company and the related each Servicer to enforce such clauses in accordance with this Agreement or the related applicable Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related applicable Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related applicable Servicing Agreement.

Appears in 1 contract

Samples: Servicing Agreement (SACO I Trust 2007-1)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Company and the related Servicer to enforce such clauses in accordance with this Agreement or the related Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Luminent Mortgage Trust 2006-3)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related Servicing Agreement or this Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause enforce the Company and obligation of the related Servicer Servicers to enforce such clauses in accordance with this Agreement or the related Servicing Agreement or this Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related Servicing Agreement or this Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related Servicing Agreement or this Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bear Stearns Second Lien Trust 2007-1)

Due-on-Sale Clauses; Assumption Agreements. To the extent provided in this Agreement or the related applicable Servicing Agreement, to the extent for any Mortgage Loans that contain enforceable due-on-sale clauses, the Xxxxx Master Servicer shall cause the Company and the related Servicer (other than the EMC Master Servicer) to enforce such clauses in accordance with this Agreement or the related applicable Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with this Agreement or the related such applicable Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with this Agreement or the related applicable Servicing Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.