Examination of Mortgage Files. At least three (3) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 35 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2005-He1), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He2)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. ; provided, however, that the Purchaser and the Seller shall agree in writing on the final pool of Mortgage Loans to be purchased on a Closing Date pursuant to this Agreement The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 30 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He6), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He1), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He5)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan (except with respect to each MERS Designated Mortgage Loan), or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole good faith discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 30 contracts
Samples: Pooling and Servicing Agreement (MSAC Trust 2006-He3), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Abs Capital I Inc), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He8)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, Mortgage pertaining to each Mortgage Loan (except with respect to each MERS Designated Mortgage Loan), or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein; provided, however, that the Purchaser may not demand repurchase, substitution or other relief on the basis that a Mortgage Loan examined by the Purchaser or its designee prior to purchase does not comply with the Underwriting Guidelines provided by the Seller to the Purchaser prior to such examination and attached as an exhibit hereto.
Appears in 20 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He6), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2005-He1), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc Trust 2003-He2)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 9.03.
Appears in 18 contracts
Samples: And Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar), And Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Mortgage Loan may be rejected for purchase by the Purchaser for any reason, and such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 13 contracts
Samples: Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 13 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Home Equity Loan Trust 2005-4), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Home Equity Loan Trust 2005-2), Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-1)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related respective Closing Date, the Seller Seller, shall (a) deliver make available to the Purchaser or its designee in escrowPurchaser, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each related Mortgage LoanLoan at the offices of Seller, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as Seller and Purchaser shall otherwise be acceptable to the Purchasermutually designate. Such examination may be made by Purchaser of the related Mortgage Loan at any time before the related Closing Date and may be made by Purchaser or its designee any prospective Subsequent Purchaser of such Mortgagee Loan at any reasonable time before or after the related such Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable Loan that does not conform to the Purchaser for any reasonterms of the Purchase Price and Terms Letter, such Mortgage Loans Loan shall be deleted from the related Final Mortgage Loan Schedule, Schedule and may be replaced by a Qualified Substitute substitute Mortgage Loan (or Loans) that conforms to the terms of the Purchase Price and Terms Letter and that is reasonably acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans for a Transaction without conducting any partial or complete examination. The fact that the failure or omission by Purchaser or its designee has conducted or has failed any Subsequent Purchaser of the Mortgage Loans to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution repurchase or other relief as provided hereinunder any Program Document.
Appears in 12 contracts
Samples: Loan Purchase Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Loan Purchase Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Loan Purchase Agreement (Morgan Stanley Mortgage Loan Trust 2007-13)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 7.03.
Appears in 12 contracts
Samples: Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-2), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to MERS Designated Loans), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 9 contracts
Samples: Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-1), Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-2), Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-3)
Examination of Mortgage Files. At least Not later than three (3) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its to any assignee, transferee or designee of the Purchaser in escrow, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its any assignee, transferee or designee of the Purchaser at any reasonable time before or after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable which do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced replaced, prior to the Closing Date, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its any assignee, transferee or designee of the Purchaser has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 8 contracts
Samples: Mortgage Loan Purchase Agreement (Bayview Financial Mortage Pass-Through Trust 2005-D), Mortgage Loan Purchase Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-A), Mortgage Loan Purchase Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-C)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Initial Purchaser to underwrite the Mortgage Loans and review the Mortgage Files prior to the related Closing Date, prior to the Closing Date, the Seller shall (a) deliver to the Purchaser or its designee Custodian in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on the Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Initial Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserInitial Purchaser and the Seller. Such examination may be made by the Initial Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Initial Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser Seller's underwriting standards, such Mortgage Loans may, at the Initial Purchaser's option, be rejected for any reasonpurchase by the Initial Purchaser. If not purchased by the Initial Purchaser, such Mortgage Loans shall be deleted from the related Final Mortgage Loan Schedule, Schedule and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable pursuant to the PurchaserSection 7. The Initial Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Initial Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Initial Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 8 contracts
Samples: Mortgage Loan Purchase Agreement (First Franklin Mortgage Loan Trust, Series 2007-FFC), Mortgage Loan Purchase Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-5), Mortgage Loan Purchase Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date and each Subsequent Transfer Date, as applicable, the Unaffiliated Seller shall (a) deliver make the Mortgage Files available to the Purchaser Depositor or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Unaffiliated Seller's offices or at such other location place as the Unaffiliated Seller shall otherwise be acceptable to the Purchaserreasonably specify. Such examination may be made by the Purchaser Depositor or its designee at any reasonable time on or before the Closing Date or after Subsequent Transfer Date, as the related Closing Datecase may be. If the Purchaser Depositor or its designee makes such examination prior to the related Closing Date or Subsequent Transfer Date, as the case may be, and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser for any reasonrequirements of the Depositor as described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Schedule and may be replaced replaced, prior to the Closing Date or Subsequent Transfer Date, as the case may be, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the PurchaserDepositor. The Purchaser Depositor may, at its option and without notice to the Unaffiliated Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser Depositor, the Collateral Agent or its designee the Indenture Trustee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Depositor or any of its successor's) rights the Indenture Trustee to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement.
Appears in 7 contracts
Samples: Unaffiliated Seller's Agreement (Prudential Securities Secured Financing Corp), 'S Agreement (Prudential Securities Secured Financing Corp), Unaffiliated Seller's Agreement (Prudential Securities Secured Financing Corp)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 7.03.
Appears in 7 contracts
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Mortgage Loan Sale and Servicing Agreement (GSR Mortgage Loan Trust 2006-Oa1), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Mortgage Loan may be rejected for purchase by the Purchaser for any reason, and such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 6 contracts
Samples: Master Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Master Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Assignment and Conveyance Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)
Examination of Mortgage Files. At least five (5) Business Days prior to the related Closing Date (or, with respect to not more than 25% of the Mortgage Loans, at least three (3) Business Days prior to the related Closing Date), the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan. At least five (5) Business Days prior to the related Closing Date, or (b) with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole reasonable discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan after the related Closing Date, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (FFMLT Trust 2006-Ff4), Pooling and Servicing Agreement (FFMLT Trust 2006-Ff3), Pooling and Servicing Agreement (FFMLT Trust 2005-Ff11)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date and each Subsequent Transfer Date, as applicable, the Unaffiliated Seller shall (a) deliver make the Mortgage Files available to the Purchaser Depositor or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Unaffiliated Seller's offices or at such other location place as the Unaffiliated Seller shall otherwise be acceptable to the Purchaserreasonably specify. Such examination may be made by the Purchaser Depositor or its designee at any reasonable time on or before the Closing Date or after Subsequent Transfer Date, as the related Closing Datecase may be. If the Purchaser Depositor or its designee makes such examination prior to the related Closing Date or Subsequent Transfer Date, as the case may be, and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser for any reasonrequirements of the Depositor as described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Schedule and may be replaced replaced, prior to the Closing Date or Subsequent Transfer Date, as the case may be, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the PurchaserDepositor. The Purchaser Depositor may, at its option and without notice to the Unaffiliated Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser Depositor or its designee the Trustee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Depositor or any of its successor's) rights the Trustee to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement.
Appears in 6 contracts
Samples: Prudential Securities (Prudential Securities Secured Financing Corp), Prudential Securities (Prudential Securities Secured Financing Corp), S Agreement (American Business Financial Services Inc /De/)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Subsequent Transfer Date, the Seller shall either (ai) deliver in escrow to the Purchaser or its to any assignee, transferee or designee in escrow, of the Purchaser for examination with respect to each the Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Subsequent Mortgage Loan, or (bii) make the related such Mortgage File Files available to the Purchaser or to any assignee, transferee or designee of the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaserexamination. Such examination may be made by the Purchaser or its designee at any the Trustee, and their respective designees, upon reasonable time notice to the Seller during normal business hours before or the Subsequent Transfer Date and within 60 days after the related Closing Subsequent Transfer Date. If the Purchaser any such person makes such examination prior to the related Closing Subsequent Transfer Date and determines, in its sole discretion, that identifies any Subsequent Mortgage Loans are unacceptable that do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Subsequent Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Subsequent Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any person has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Salomon Brothers Mortgage Securities Vii Inc), Pooling and Servicing Agreement (New Century Asset Backed Float Rate Cert Series 1997-Nc4), Pooling and Servicing Agreement (New Century Asset Backed Floating Rate Cert Ser 1998-Nc1)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserSeller’s place of business in Plymouth Meeting, Pennsylvania. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and reasonably determines, in its sole discretiongood faith, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced replaced, at the Seller’s option, by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 5 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserSeller's place of business in Plymouth Meeting, Pennsylvania. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and reasonably determines, in its sole discretiongood faith, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced replaced, at the Seller's option, by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 5 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Assignment and Recognition Agreement (Morgan Stanley Ixis Real Estate Capital Trust 2006-2), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He3), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He2), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Abs Capital I Inc Series 2004-He1)
Examination of Mortgage Files. At least three (3) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 5 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Nc5), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc1)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Datetime. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 5 contracts
Samples: Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related respective Closing Date, the Seller shall Seller, (a) shall deliver to the Purchaser or its designee Custodian in escrow, for examination with respect examination, the Mortgage File pertaining to each Mortgage Loan to be purchased, or (b) shall make the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (b) make the related Mortgage File Loan available to the Purchaser for examination at the offices of the Seller, the Custodian or such other location as the Seller and the Purchaser shall otherwise be acceptable to the Purchasermutually designate. Such examination may be made by the Purchaser or its designee of the related Mortgage Loan at any reasonable time before or after the related Closing Date and may be made by the Purchaser or any prospective Subsequent Purchaser of such Mortgage Loan at any time after such Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable Loan that does not conform to the Purchaser for any reasonterms of the related Purchase Price and Terms Letter, such Mortgage Loans Loan shall be deleted from the related Final Mortgage Loan Schedule, Schedule and may be replaced by a Qualified Substitute substitute Mortgage Loan (or Loans) that conforms to the terms of the Purchase Price and Terms Letter and that is reasonably acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans for a Transaction without conducting any partial or complete examination. The fact that failure or omission by the Purchaser or its designee has conducted or has failed any Subsequent Purchaser of the Mortgage Loans to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution repurchase or other relief as provided hereinunder any Program Document.
Appears in 5 contracts
Samples: Master Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Inc), Master Mortgage Loan Purchase Agreement (Merrill Lynch Mort Inv Inc Mo Pass THR Ce Se MLCC 2003f), Master Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Inc)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage Credit File available to the Purchaser for examination at such other location as shall otherwise be acceptable to agreed upon by the Seller and the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the Purchase Price and Terms Agreement and Exhibit A thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 9.03.
Appears in 4 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan. At least ten (10) Business Days prior to the related Closing Date, or (b) with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan after the related Closing Date, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-H1), Pooling and Servicing Agreement (GSAMP Trust 2006-He4), Pooling and Servicing Agreement (GSAMP Trust 2006-He7)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller Company shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to examination, the Custodial Mortgage File for each Mortgage Loan to be purchased, the related Mortgage FileLoan, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File Files available to the Purchaser for examination at the Company's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Company. Such examination may be made by the Purchaser or its designee by any prospective purchaser of the Mortgage Loans from the Purchaser, at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination Date upon prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without reasonable notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examinationCompany. The fact that the Purchaser or its designee any prospective purchaser of the Mortgage Loans has conducted or has failed to conduct any partial or complete examination of the Custodial Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided hereinunder this Agreement. The Company shall make the Retained Mortgage Files available to the Purchaser for examination at the Company's offices or such other location as shall otherwise be agreed upon by the Purchaser and the Company. Such examination may be made by the Purchaser or by any prospective purchaser of the Mortgage Loans from the Purchaser, at any time before or after the related Closing Date upon prior reasonable notice to the Company. The fact that the Purchaser or any prospective purchaser of the Mortgage Loans has conducted or has failed to conduct any partial or complete examination of the Retained Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided under this Agreement.
Appears in 4 contracts
Samples: Flow Servicing Agreement (GSAA Home Equity 2005-12), Trust Agreement (GSAA Home Equity Trust 2005-3), Mortgage Loan Sale and Servicing Agreement (GSAA Home Equity Trust 2006-6)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to make the Purchaser or its designee in escrow, for examination Mortgage File with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other a location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 4 contracts
Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2006-Aa2), Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1), Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa1)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage Credit File available to the Purchaser for examination at such other location as shall otherwise be acceptable to agreed upon by the Seller and the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the Purchase Price and Terms Agreement and Exhibit A thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 9.03.
Appears in 4 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 9.03.
Appears in 3 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), And Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), And Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Datetime. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 3 contracts
Samples: Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Datetime. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 3 contracts
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Purchaser under the related Commitment Letter to underwrite the Mortgage Loans and review the Mortgage Files prior to the Closing Date, prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on such Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable which do not conform to the Purchaser terms of the related Commitment Letter, such Mortgage Loans may, at the Purchaser's option, be rejected for any reasonpurchase by the Purchaser. If not purchased by the Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the any Mortgage Loans Loan Package without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 3 contracts
Samples: Mortgage Loan Purchase and Servicing Agreement (Citicorp Mortgage Securities Inc), Mortgage Loan Purchase and Servicing Agreement (CMALT (CitiMortgage Alternative Loan Trust), Series 2007-A7), Mortgage Loan Purchase and Servicing Agreement (Citicorp Mortgage Securities Trust, Series 2007-6)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 3 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-13), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole reasonable discretion, that any Mortgage Loans are unacceptable do not conform to the requirements of this Agreement and/or the related Purchase Price and Terms Agreement, the Purchaser for any reasonshall provide notice to the Seller describing such defect. The Seller, such at its option, may cure the defect or the applicable Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein. Each of the Purchaser and the Seller agree that all mortgage loan application documents requiring the Mortgagor’s signature and other related documents and disclosures may be provided by the Seller and executed by the Mortgagor, as applicable, electronically in compliance with the federal Electronic Signatures in Global and National Commerce Act and the state Uniform Electronic Transactions Acts, as applicable.
Appears in 3 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related respective Closing Date, the Seller shall (a) deliver make available to the Purchaser or its designee in escrowPurchaser, for examination with respect to each Mortgage Loan to be purchasedat the offices of Seller or such other place as the parties shall mutually agree, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each related Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by Purchaser of the related Mortgage Loan at any time before the related Closing Date and may be made by Purchaser or its designee any prospective Subsequent Purchaser of such Mortgagee Loan at any reasonable time before or after the related such Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable Loan that does not conform to the Purchaser for any reasonterms of the Purchase Price and Terms Letter, such Mortgage Loans Loan shall be deleted from the related Mortgage Loan ScheduleSchedule and may, and may at the option of Seller, be replaced by a Qualified Substitute substitute Mortgage Loan (or Loans) that conforms to the terms of the Purchase Price and Terms Letter and that is reasonably acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans for a Transaction without conducting any partial or complete examination. The fact that the failure or omission by Purchaser or its designee has conducted or has failed any Subsequent Purchaser of the Mortgage Loan to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) ’s rights to demand repurchase, substitution repurchase or other relief as provided hereinunder any Program Document.
Appears in 3 contracts
Samples: Master Mortgage Loan Purchase Agreement (Thornburg Mortgage Sec Tr 2002-1 MRT Ln Ps THR CRT Sr 2002-1), Master Mortgage Loan Purchase Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4), Master Mortgage Loan Purchase Agreement (Greenwich Capital Acceptance Inc Thorn Mort Sec Tr 2003-1)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller shall either (ai) deliver in escrow to the Purchaser or its to any assignee, transferee or designee in escrowof the Purchaser, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (bii) make the related such Mortgage File Files available to the Purchaser or to any assignee, transferee or designee of the Purchaser for examination at examination; provided, however, that the Seller shall not be required to provide mortgagor names or addresses to any such other location as shall otherwise be acceptable to the Purchaserassignee, transferee or designee. Such examination may be made by the Purchaser or its designee at any the Trustee, and their respective designees, upon reasonable time notice to the Seller during normal business hours before or the Closing Date and within 60 days after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any person has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Salo Mort Ln Tr Ser 2001-Cpb1), Pooling and Servicing Agreement (Salomon Mortgage Loan Trust Ser 2002-Ust1 Mort Pass-THR Cert)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller Sellers shall either (ai) deliver in escrow to the Purchaser or its to any assignee, transferee or designee in escrowof the Purchaser, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (bii) make the related such Mortgage File Files available to the Purchaser or to any assignee, transferee or designee of the Purchaser for examination at examination; provided, however, that the Sellers shall not be required to provide mortgagor names or addresses to any such other location as shall otherwise be acceptable to the Purchaserassignee, transferee or designee. Such examination may be made by the Purchaser or its designee at any the Trustee, and their respective designees, upon reasonable time notice to each Seller during normal business hours before or the Closing Date and within 60 days after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the SellerSellers, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any person has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Distribution Instructions (Citigroup Mortgage Loan Trust Inc Series 2004-Ust1), Distribution Instructions (Citigroup Mortgage Loan Trust Series 2003 Ust-1)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (for Mortgage Loans that are not MERS Designated Mortgage Loans), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Letter, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided herein.in this
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-7)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to examination, the Custodial Mortgage File for each Mortgage Loan to be purchased, the related Mortgage FileLoan, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Custodial Mortgage File Files and the Retained Mortgage Files available to the Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If Date upon prior reasonable notice to the Seller or by any prospective purchaser of the Mortgage Loans from the Purchaser makes such examination prior to at any time after the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without upon prior reasonable notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any prospective purchaser of the Mortgage Loans has conducted or has failed to conduct any partial or complete examination of the Custodial Mortgage Files and the Retained Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief or remedy as provided hereinunder the related Seller's Warranties and Servicing Agreement.
Appears in 2 contracts
Samples: Warranties and Servicing Agreement (RBSGC 2007-A), Indemnification Agreement (RBSGC Mortgage Loan Trust 2007-B)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Purchaser under the related Commitment Letter to underwrite the Mortgage Loans and review the Mortgage Files prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on such Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Seller’s offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related applicable Closing Date. If the Purchaser makes such examination prior to the related applicable Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable which do not conform to the Purchaser terms of the related Commitment Letter, such Mortgage Loans may, at the Purchaser’s option, be rejected for any reasonpurchase by the Purchaser. If not purchased by the Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the any Mortgage Loans Loan Package without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor'ssuccessors’) rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 2 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6), Letter Agreement (Citigroup Mortgage Loan Trust 2006-Ar7)
Examination of Mortgage Files. At least Not later than three (3) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its to any assignee, transferee or designee of the Purchaser in escrow, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its any assignee, transferee or designee of the Purchaser at any reasonable time before or after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable which do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced replaced, prior to the Closing Date, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its any assignee, transferee or designee of the Purchaser has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the [Transfer] [Pooling] and Servicing Agreement.
Appears in 2 contracts
Samples: Mortgage Loan Purchase Agreement (HMB Acceptance Corp.), Loan Purchase Agreement (BLG Securities Company, LLC)
Examination of Mortgage Files. At least three seven (37) Business Days prior to the related Closing Date, the Seller shall (i) either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to each MERS Designated Mortgage Loan), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserPurchaser and (ii) deliver to the Purchaser in an electronic format copies of the credit and servicing files (collectively, the "Credit Files"). Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 2 contracts
Samples: Assignment and Recognition Agreement (Morgan Stanley ABS Capital I Inc. IXIS Real Estate Capital Trust 2007-He1), Assignment and Recognition Agreement (Natixis Real Estate Capital Trust 2007-He2)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination reasonably determines, prior to the related Closing Date and determines, in its sole discretionDate, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in this Agreement or the related Purchase Price and Terms Agreement, or as an Exhibit annexed hereto or thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 9.03.
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-15xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (for Mortgage Loans that are not MERS Designated Mortgage Loans), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Letter, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief remedy as provided herein.in this
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller Sellers shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan. At least five (5) Business Days prior to the related Closing Date, or (b) with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the Sellers shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the any Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Sellers fail to deliver the Credit Files with respect to any Mortgage Loan after the related Transfer Date, the Sellers shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 2 contracts
Samples: Representations and Warranties Agreement (GSAMP Trust 2006-He5), Pooling and Servicing Agreement (GSAMP Trust 2006-He4)
Examination of Mortgage Files. At least three seven (37) Business Days prior to the related Closing Date, the Seller shall (i) either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to each MERS Designated Mortgage Loan), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserPurchaser and (ii) deliver to the Purchaser copies of the credit and servicing files (collectively, the "Credit Files"). Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 2 contracts
Samples: Assignment and Recognition Agreement (Morgan Stanley ABS Capital I Inc. IXIS Real Estate Capital Trust 2007-He1), Assignment and Recognition Agreement (Natixis Real Estate Capital Trust 2007-He2)
Examination of Mortgage Files. At least five (5) Business Days prior to the related Closing Date (or, with respect to not more than 25% of the Mortgage Loans, at least three (3) Business Days prior to the related Closing Date), the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan. At least five (5) Business Days prior to the related Closing Date, or (b) with respect to each Mortgage Loan in the related Mortgage Loan Package to be purchased, the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole reasonable discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan after the related Closing Date, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 8.03.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff2), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff2)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchasedin the related Mortgage Loan Package, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (if applicable), pertaining to each Mortgage Loan. At least five (5) Business Days prior to the related Closing Date, or (b) with respect to each Mortgage Loan in the related Mortgage Loan Package, the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan after the related Closing Date, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2005-He4), Pooling and Servicing Agreement (GSAMP Trust 2005-He4)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole reasonable discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2005-He1), Indemnification and Contribution Agreement (Sabr Trust 2005-Fr2)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each substantially all of the Mortgage LoanLoans (with any remaining Mortgage Files delivered within four (4) Business Days prior to the related Closing Date), or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He3)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser; provided, however, that the Purchaser and the Seller shall agree in writing on the final pool of Mortgage Loans to be purchased pursuant to this Agreement. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Samples: Indemnification and Contribution Agreement (Sabr Trust 2005-Fr2)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to each MERS Designated Mortgage Loan ), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement; provided that Purchaser may not demand repurchase or other relief or remedy on the basis that a Mortgage Loan examined by Purchaser or its designee prior to purchase does not comply with the related Underwriting Guidelines. Notwithstanding the preceding qualification, it is understood and agreed that the Purchaser maintains its rights pursuant to Section 8.03 to demand repurchase of any loan in breach of the Seller's representations and warranties contained in Section 8.02, excluding Section 8.02(v).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2005-Ahl)
Examination of Mortgage Files. At least three Not later than five (35) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its to any assignee, transferee or designee of the Purchaser in escrow, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (b) make the related such Mortgage File Files available to the Purchaser or to any assignee, transferee or designee of the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserSeller's offices. Such examination may be made by the Purchaser or its any assignee, transferee or designee of the Purchaser at any reasonable time before or after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable which do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced replaced, prior to the Closing Date, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its any assignee, transferee or designee of the Purchaser has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Initial Purchaser under the related Confirmation to underwrite the Mortgage Loans and review the Mortgage Files prior to the Closing Date, prior to the related Closing Date, the Seller shall Seller, or Servicer, as applicable, shall, at the Purchaser's option (a) deliver to the Purchaser or its designee Custodian in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on such Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Initial Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserInitial Purchaser and the Seller. Such examination may be made by the Initial Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Initial Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser terms of the related Confirmation or the Underwriting Guidelines, such Mortgage Loans may, at the Initial Purchaser's option, be rejected for any reasonpurchase by the Initial Purchaser. If not purchased by the Initial Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Initial Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the any Mortgage Loans Loan Package without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.or
Appears in 1 contract
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Luminent Mortgage Trust 2006-7)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Initial Purchaser under the related Confirmation to underwrite the Mortgage Loans and review the Mortgage Files prior to the Closing Date, prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Initial Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserInitial Purchaser and the Seller. Such examination may be made by the Initial Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Initial Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser terms set forth in the related Confirmation, such Mortgage Loans may, at the Initial Purchaser's option, be rejected for any reasonpurchase by the Initial Purchaser. If not purchased by the Initial Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Initial Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the any Mortgage Loans Loan Package without conducting any partial or complete examination. The fact that the Initial Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (HarborView 2006-14)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. If the Seller fails to deliver, or make available for inspection, a Mortgage Loan file as specified in this Section, and Purchaser nevertheless purchases such Mortgage Loan, the Seller waives any claims under this Section.
Appears in 1 contract
Samples: Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (i) either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage [(except with respect to each MERS Designated Mortgage Loan )], pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserPurchaser and (ii) deliver to the Purchaser copies of the Servicing Files and Credit Files. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 9.03.
Appears in 1 contract
Samples: Flow Servicing Agreement (GSAA Home Equity 2005-12)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (i) either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to each MERS Designated Mortgage Loan), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserPurchaser and (ii) deliver to the Purchaser copies of the credit and servicing files (collectively, the "Credit Files"). Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
Appears in 1 contract
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan (except with respect to each MERS Designated Mortgage Loan), or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole good faith discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's ’s (or any of its successor's’s) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date and each Subsequent Transfer Date, as applicable, the Seller Originators shall (a) deliver make the Mortgage Files available to the Purchaser Depositor or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Originators' offices or at such other location place as the Originators shall otherwise be acceptable to the Purchaserreasonably specify. Such examination may be made by the Purchaser Depositor or its designee at any reasonable time on or before the Closing Date or after Subsequent Transfer Date, as the related Closing Datecase may be. If the Purchaser Depositor or its designee makes such examination prior to the related Closing Date or Subsequent Transfer Date, as the case may be, and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser for any reasonrequirements of the Depositor as described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Schedule and may be replaced replaced, prior to the Closing Date or Subsequent Transfer Date, as the case may be, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the PurchaserDepositor. The Purchaser Depositor may, at its option and without notice to the SellerOriginators, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser Depositor, the Collateral Agent or its designee the Indenture Trustee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Depositor or any of its successor's) rights the Indenture Trustee to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement.
Appears in 1 contract
Samples: Loan Sale Agreement (Prudential Securities Secured Financing Corp)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Purchaser under the related Confirmation to underwrite the Mortgage Loans and review the Mortgage Files prior to the Closing Date, prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee Custodian in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on such Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser terms of the related Confirmation or the Underwriting Guidelines, such Mortgage Loans may, at the Purchaser's option, be rejected for any reasonpurchase by the Purchaser. If not purchased by the Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the any Mortgage Loans Loan Package without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 1 contract
Samples: Contifinancial Corp
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Purchaser under the related Commitment Letter to underwrite the Mortgage Loans and review the Mortgage Files prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on such Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available as agreed to in the related Commitment Letter to the Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser terms of the related Commitment Letter or the Purchaser's underwriting standards, such Mortgage Loans may, at the Purchaser's option, be rejected for any reasonpurchase by the Purchaser. If not purchased by the Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the any Mortgage Loans Loan Package without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy due to a breach of a representation or warranty contained in Sections 7.01 and 7.02 to the extent provided hereinfor in Section 7.03 of this Agreement.
Appears in 1 contract
Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2006-15)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date or, with respect to Subsequent Mortgage Loans, the Subsequent Transfer Date, the Seller shall (a) deliver make the Mortgage Files available to the Purchaser Depositor or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Seller's offices or at such other location place as the Seller shall otherwise be acceptable to the Purchaserreasonably specify. Such examination may be made by the Purchaser Depositor or its designee at any reasonable time on or before the Closing Date or after the related Closing Subsequent Transfer Date, as applicable. If the Purchaser Depositor or its designee makes such examination prior to the related Closing Date or Subsequent Transfer Date, as applicable and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser for any reasonrequirements of the Depositor as described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Schedule and may be replaced replaced, prior to the Closing Date or Subsequent Transfer Date, as applicable, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the PurchaserDepositor. The Purchaser Depositor may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser Depositor or its designee the Trustee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Depositor or any of its successor's) rights the Trustee to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Prudential Securities Secured Financing Corp)
Examination of Mortgage Files. At least three (3) Business Days prior to the related Closing Date, the Seller Company shall (a) deliver to the Purchaser or its designee Custodian in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the SellerCompany, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2005-He1)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage to the extent available (other than with respect to MERS Designated Mortgage Loans), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in the related Purchase Price and Terms Agreement, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Mortgage File with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan as the price and in the manner specified in Subsection 7.03.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date and each Subsequent Transfer Date, as applicable, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File Files available to the Purchaser Depositor or its designee for examination at the Seller's offices or at such other location place as the Seller shall otherwise be acceptable to the Purchaserreasonably specify. Such examination may be made by the Purchaser Depositor or its designee at any reasonable time on or before the Closing Date or after Subsequent Transfer Date, as the related Closing Datecase may be. If the Purchaser Depositor or its designee makes such examination prior to the related Closing Date or Subsequent Transfer Date, as the case may be, and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser for any reasonrequirements of the Depositor as described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Schedule and may be replaced replaced, prior to the Closing Date or Subsequent Transfer Date, as the case may be, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the PurchaserDepositor. The Purchaser Depositor may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser Depositor or its designee the Trustee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Depositor or any of its successor's) rights the Trustee to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement.
Appears in 1 contract
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to examination, the Custodial Mortgage File for each Mortgage Loan to be purchased, the related Mortgage FileLoan, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Custodial Mortgage File Files and the Retained Mortgage Files available to the Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If Date and by any prospective purchaser of the Mortgage Loans from the Purchaser makes such examination prior to after the related Closing Date and determinesDate, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without upon prior reasonable notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any prospective purchaser of the Mortgage Loans has conducted or has failed to conduct any partial or complete examination of the Custodial Mortgage Files and the Retained Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief or remedy as provided hereinunder the related Seller's Warranties and Servicing Agreement.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to each MERS Designated Mortgage Loan ), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement; provided that Purchaser may not demand repurchase or other relief or remedy on the basis that a Mortgage Loan examined by Purchaser or its designee prior to purchase does not comply with the Underwriting Guidelines. Notwithstanding the preceding qualification, it is understood and agreed that the Purchaser maintains its rights pursuant to Section 8.03 to demand repurchase of any loan in breach of the Seller's representations and warranties contained in Section 8.02, excluding Section 8.02(v).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2003-He2)
Examination of Mortgage Files. At least three (3) Business Days On or prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan. With respect to each Mortgage Loan to be purchased, or (b) the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Examination of Mortgage Files. At least three The Seller shall either (3i) Business Days prior to the related Closing Date, the Seller shall (a) Date deliver in escrow to the Purchaser or its to any assignee, transferee or designee in escrowof the Purchaser, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, File pertaining to each Mortgage Loan, or (bii) make the related such Mortgage File Files available to the Purchaser or to any assignee, transferee or designee of the Purchaser for examination at such examination; provided, however, that the Seller shall not be required to provide mortgagor names or addresses or other location as shall otherwise be acceptable personally identifiable personal information with respect to the PurchaserMortgagors to any such assignee, transferee or designee. Such examination may be made by the Purchaser or its designee at any the Trustee, and their respective designees, upon reasonable time notice to the Seller during normal business hours before or the Closing Date and within 60 days after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Closing Schedule unless otherwise agreed by the Seller and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any person has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Purchaser or any permitted assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Sov Bk MRT Ln Tr Se 2002-1)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Initial Purchaser to underwrite the Mortgage Loans and review the Mortgage Files prior to the related Closing Date, prior to the Closing Date, the Seller shall (a) deliver to the Purchaser or its designee Custodian in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on the Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Initial Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserInitial Purchaser and the Seller. Such examination may be made by the Initial Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Initial Purchaser makes such examination prior to the related Closing Date closing date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser Seller's underwriting standards, such Mortgage Loans may, at the Initial Purchaser's option, be rejected for any reasonpurchase by the Initial Purchaser. If not purchased by the Initial Purchaser, such Mortgage Loans shall be deleted from the related Final Mortgage Loan Schedule, Schedule and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable pursuant to the PurchaserSection 7. The Initial Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Initial Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Initial Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 1 contract
Samples: Loan Purchase Agreement (Merrill Lynch Mortgage Investors Inc)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller shall either (ai) deliver in escrow to the Purchaser or its to any assignee, transferee or designee in escrowof the Purchaser, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, Note pertaining to each Mortgage Loan, or (bii) make the related such Mortgage File Notes available to the Purchaser or to any assignee, transferee or designee of the Purchaser for examination at examination; provided, however, that the Seller shall not be required to provide mortgagor names or addresses to any such other location as shall otherwise be acceptable to the Purchaserassignee, transferee or designee. Such examination may be made by the Purchaser or its designee at any the Trustee, and their respective designees, upon reasonable time notice to the Seller during normal business hours before or the Closing Date and within 60 days after the related Closing Date. If the Purchaser any such person makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the requirements of the Purchaser for any reasonas described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any person has conducted or has failed to conduct any partial or complete examination of the Mortgage Files Notes shall not affect the Purchaser's (rights of the Purchaser or any permitted assignee, transferee or designee of its successor's) rights the Purchaser to demand repurchase, substitution repurchase or other relief as provided hereinherein or under the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Mortgage Loan Trust Series 2003-Nbc1)
Examination of Mortgage Files. At least three (3) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan. At least five (5) Business Days prior to the Closing Date, or (b) with respect to each Mortgage Loan to be purchased, the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan after the Closing Date, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
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Examination of Mortgage Files. At least three (3) Business Days seven 14 days prior to the related Closing Date, the Seller shall (i) either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of MortgageMortgage (except with respect to each MERS Designated Mortgage Loan), pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserPurchaser and (ii) deliver to the Purchaser copies of the credit and servicing files (collectively, the "Credit Files"). Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect impair in any way the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief remedy as provided hereinin this Agreement. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
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Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller Sellers shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (EquiFirst Loan Securitization Trust 2007-1)
Examination of Mortgage Files. At least three (3) Business Days In addition to the rights granted to the Initial Purchaser under the related Confirmation to underwrite the Mortgage Loans and review the Mortgage Files prior to the Closing Date, prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchasedpurchased on such Closing Date, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Initial Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserInitial Purchaser and the Seller. Such examination may be made by the Initial Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Initial Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser terms of the related Confirmation, such Mortgage Loans may, at the Initial Purchaser's option, be rejected for any reasonpurchase by the Initial Purchaser. If not purchased by the Initial Purchaser, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Initial Purchaser or its designee has conducted or has failed determined not to conduct any partial or complete examination of the Mortgage Files shall not affect the Initial Purchaser's (or any of its successor'ssuccessors') rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 1 contract
Samples: Master Mortgage Loan Purchase Agreement (Westmark Group Holdings Inc)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller Sellers shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the PurchaserSellers' place of business in Plymouth Meeting, Pennsylvania. Such examination may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and reasonably determines, in its sole discretiongood faith, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced replaced, at the applicable Seller's option, by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the SellerSellers, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein.
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2007-2)
Examination of Mortgage Files. At least three ten (310) Business Days prior to the related Closing Date, the Seller shall either (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination may be made by the Purchaser or its designee designee, at its expense, at any reasonable time before or after the related Closing Date. Such underwriting by the Purchaser or its designee shall not impair or diminish the rights of the Purchaser or any of its successors under this Agreement with respect to a breach of the representations and warranties contained in this Agreement. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable do not conform to any of the requirements set forth in this Agreement or the applicable Term Sheet, or as an Exhibit annexed thereto, the Purchaser for any reason, may delete such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and such Deleted Mortgage Loan (or Deleted Mortgage Loans) may be replaced by a Qualified Substitute Mortgage Loan (or Substitute Mortgage Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) successors' rights to demand repurchase, substitution repurchase or other relief as or remedy provided hereinfor in this Agreement.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Sunset Financial Resources Inc)
Examination of Mortgage Files. At least three five (35) Business Days prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan. At least ten (10) Business Days prior to the Closing Date, or (b) with respect to each Mortgage Loan to be purchased, the Seller shall make the related Mortgage File Servicing Files and Credit Files available to the Purchaser for examination at such other location as shall otherwise be acceptable to the Purchaser. Such examination of the Mortgage Files may be made by the Purchaser or its designee at any reasonable time before or after the related Closing Date. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that any Mortgage Loans are unacceptable to the Purchaser for any reason, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, and may be replaced by a Qualified Substitute Mortgage Loan (or Loans) acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some or all of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files or the Credit Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided herein. In the event that the Seller fails to deliver the Credit Files with respect to any Mortgage Loan after the Closing Date, the Seller shall, upon the request of the Purchaser, repurchase such Mortgage Loan at the price and in the manner specified in Subsection 9.03.
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Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date, the Seller shall (a) deliver to the Purchaser or its designee in escrow, for examination with respect to each Mortgage Loan to be purchasedexamination, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to for each Mortgage Loan, or the Mortgage Loan Documents described on Exhibit B-1 to the Seller's Warranties and Servicing Agreement, and (b) make the related Mortgage File Files available to the Purchaser for examination at the Seller's offices or such other location as shall otherwise be acceptable to agreed upon by the PurchaserPurchaser and the Seller. Such examination may be made by the Purchaser Purchaser, or its designee by any prospective purchaser of the Mortgage Loans from the Purchaser, at any reasonable time before or after the related Closing DateDate upon prior reasonable notice to the Seller. If the Purchaser makes such examination prior to the related Closing Date and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable which do not conform to the Purchaser for any reasonits requirements, such Mortgage Loans shall be deleted from the related Mortgage Loan Closing Schedule, and and, pursuant to Section 3 of this Agreement, may be replaced by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the Purchaser. The Purchaser may, at its option and without notice to the Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser or its designee any prospective purchaser of the Mortgage Loans has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (or any of its successor's) rights to demand repurchase, substitution or other relief as provided hereinunder the related Seller's Warranties and Servicing Agreement.
Appears in 1 contract
Samples: Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 1999 1)
Examination of Mortgage Files. At least three (3) Business Days prior Prior to the related Closing Date and any Subsequent Transfer Date, as applicable, the Unaffiliated Seller shall (a) deliver make the Mortgage Files available to the Purchaser Depositor or its designee in escrow, for examination with respect to each Mortgage Loan to be purchased, the related Mortgage File, including a copy of the Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the related Mortgage File available to the Purchaser for examination at the Unaffiliated Seller's offices or at such other location place as the Unaffiliated Seller shall otherwise be acceptable to the Purchaserreasonably specify. Such examination may be made by the Purchaser Depositor or its designee at any reasonable time on or before the Closing Date or after any Subsequent Transfer Date, as the related Closing Datecase may be. If the Purchaser Depositor or its designee makes such examination prior to the related Closing Date or any Subsequent Transfer Date, as the case may be, and determines, in its sole discretion, that identifies any Mortgage Loans are unacceptable that do not conform to the Purchaser for any reasonrequirements of the Depositor as described in this Agreement, such Mortgage Loans shall be deleted from the related Mortgage Loan Schedule, Schedule and may be replaced replaced, prior to the Closing Date or any Subsequent Transfer Date, as the case may be, by a Qualified Substitute substitute Mortgage Loan (or Loans) Loans acceptable to the PurchaserDepositor. The Purchaser Depositor may, at its option and without notice to the Unaffiliated Seller, purchase some all or all part of the Mortgage Loans without conducting any partial or complete examination. The fact that the Purchaser Depositor, the Collateral Agent or its designee the Trustee has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser's (rights of the Depositor or any of its successor's) rights the Trustee to demand repurchase, substitution repurchase or other relief as provided hereinin this Agreement.
Appears in 1 contract
Samples: S Agreement (Bear Stearns Asset Backed Securities Inc)