Common use of DUE Clause in Contracts

DUE. On-Sale; Due-on-Encumbrance. (a) If any Home Loan contains a provision, in the nature of a "due-on- sale" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lender's option) become due and payable upon the sale or other transfer of an interest in the related Property; or (ii) provides that such Home Loan may not be assumed without the consent of the related lender in connection with any such sale or other transfer, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Trustee, shall exercise any right the Grantor Trustee may have as the lender of record with respect to such Home Loan (x) to accelerate the payments thereon or (y) to withhold its consent to any such sale or other transfer, in a manner consistent with Accepted Servicing Procedures. (b) If any Home Loan contains a provision in the nature of a "due-on- encumbrance" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lender's option) become due and payable upon the creation of any lien or other encumbrance on the related Property; or (ii) requires the consent of the related lender to the creation of any such lien or other encumbrance on the related Property, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Trustee, shall exercise any right the Grantor Trustee may have as the lender of record with respect to such Home Loan (x) to accelerate the payments thereon or (y) to withhold its consent to the creation of any such lien or other encumbrance, in a manner consistent with Accepted Servicing Standards. (c) Nothing in this Section 7.01 shall constitute a waiver of the Grantor Trustee's right to receive notice of any assumption of a Home Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other encumbrance with respect to such Mortgaged Property.

DUE. On-Sale; Due-on-Encumbrance.. ------------------------------- (a) If any Home Loan contains a provision, in the nature of a "due-on- sale" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lenderObligee's option) become due and payable upon the sale or other transfer of an interest in the related Property; or (ii) provides that such Home Loan may not be assumed without the consent of the related lender Obligee in connection with any such sale or other transfer, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Indenture Trustee, shall exercise any right the Grantor Trust or the Indenture Trustee may have as the lender Obligee of record with respect to such Home Loan (x) to accelerate the payments thereon thereon, or (y) to withhold its consent to any such sale or other transfer, in a manner consistent with Accepted Servicing Procedures. (b) If any Home Loan contains a provision provision, in the nature of a "due-on- encumbrance" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lenderObligee's option) become due and payable upon the creation of any lien or other encumbrance on the related Property; or (ii) requires the consent of the related lender Obligee to the creation of any such lien or other encumbrance on the related Property, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Trust or the Indenture Trustee, shall exercise any right the Grantor Indenture Trustee may have as the lender Obligee of record with respect to such Home Loan (x) to accelerate the payments thereon thereon, or (y) to withhold its consent to the creation of any such lien or other encumbrance, in a manner consistent with Accepted Servicing Standards. (c) Nothing in this Section 7.01 shall constitute a waiver of the Grantor ------------ Indenture Trustee's right to receive notice of any assumption of a Home Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other encumbrance with respect to such Mortgaged Property.

DUE. On-Sale; Due-on-Encumbrance. (a) If any Home Loan contains a provision, in the nature of a "due-on- sale" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lender's option) become due and payable upon the sale or other transfer of an interest in the related Property; or (ii) provides that such Home Loan may not be assumed without the consent of the related lender in connection with any such sale or other transfer, then, for so long as such Home Loan is included in the Grantor Owner Trust, the Servicer, on behalf of the Grantor Indenture Trustee, shall exercise any right the Grantor Owner Trust or the Indenture Trustee may have as the lender of record with respect to such Home Loan (x) to accelerate the payments thereon or (y) to withhold its consent to any such sale or other transfer, in a manner consistent with Accepted Servicing Procedures. (b) If any Home Loan contains a provision in the nature of a "due-on- encumbrance" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lender's option) become due and payable upon the creation of any lien or other encumbrance on the related Property; or (ii) requires the consent of the related lender to the creation of any such lien or other encumbrance on the related Property, then, for so long as such Home Loan is included in the Grantor Owner Trust, the Servicer, on behalf of the Grantor Owner Trust, or the Indenture Trustee, shall exercise any right the Grantor Indenture Trustee may have as the lender of record with respect to such Home Loan (x) to accelerate the payments thereon or (y) to withhold its consent to the creation of any such lien or other encumbrance, in a manner consistent with Accepted Servicing Standards. (c) Nothing in this Section 7.01 shall constitute a waiver of the Grantor Indenture Trustee's right to receive notice of any assumption of a Home Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other encumbrance with respect to such Mortgaged Property.

DUE. On-Sale; Due-on-Encumbrance.. ------------------------------- (a) If any Home Loan contains a provision, in the nature of a "due-on- sale" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lenderObligee's option) become due and payable upon the sale or other transfer of an interest in the related Property; or (ii) provides that such Home Loan may not be assumed without the consent of the related lender Obligee in connection with any such sale or other transfer, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Trustee, shall exercise any right the Grantor Trust or the Trustee may have as the lender Obligee of record with respect to such Home Loan (x) to accelerate the payments thereon thereon, or (y) to withhold its consent to any such sale or other transfer, in a manner consistent with Accepted Servicing Procedures. (b) If any Home Loan contains a provision provision, in the nature of a "due-on- encumbrance" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lenderObligee's option) become due and payable upon the creation of any lien or other encumbrance on the related Property; or (ii) requires the consent of the related lender Obligee to the creation of any such lien or other encumbrance on the related Property, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Trust or the Trustee, shall exercise any right the Grantor Trustee may have as the lender Obligee of record with respect to such Home Loan (x) to accelerate accelerae the payments thereon thereon, or (y) to withhold its consent to the creation of any such lien or other encumbrance, in a manner consistent with Accepted Servicing Standards. (c) Nothing in this Section 7.01 shall constitute a waiver of the Grantor ------------ Trustee's right to receive notice of any assumption of a Home Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other encumbrance with respect to such Mortgaged Property.

DUE. On-Sale; Due-on-Encumbrance. (a) If any Home Loan contains a provision, in the nature of a "due-on- sale" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lender's option) become due and payable upon the sale or other transfer of an interest in the related Property; or (ii) provides that such Home Loan may not be assumed without the consent of the related lender in connection with any such sale or other transfer, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor Indenture Trustee, shall exercise any right the Grantor Trust or the Indenture Trustee may have as the lender of record with respect to such Home Loan (x) to accelerate the payments thereon or (y) to withhold its consent to any such sale or other transfer, in a manner consistent with Accepted Servicing Procedures. (b) If any Home Loan contains a provision in the nature of a "due-on- encumbrance" clause, which by its terms: (i) provides that such Home Loan shall (or may at the related lender's option) become due and payable upon the creation of any lien or other encumbrance on the related Property; or (ii) requires the consent of the related lender to the creation of any such lien or other encumbrance on the related Property, then, for so long as such Home Loan is included in the Grantor Trust, the Servicer, on behalf of the Grantor TrusteeTrust, or the Indenture Trustee shall exercise any right the Grantor Indenture Trustee may have as the lender of record with respect to such Home Loan (x) to accelerate the payments thereon or (y) to withhold its consent to the creation of any such lien or other encumbrance, in a manner consistent with Accepted Servicing Standards. (c) Nothing in this Section 7.01 shall constitute a waiver of the Grantor Indenture Trustee's right to receive notice of any assumption of a Home Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other encumbrance with respect to such Mortgaged Property.