Common use of Grant Clause Clause in Contracts

Grant Clause. It is intended that the conveyance of the Seller’s right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date and any Transfer Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2b) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3c) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2b) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3c) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2b) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3c) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall Dateshall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2b) the Seller hereby grants to the Depositor Purchaser a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3c) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property Assets conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any if, despite the express intent of the parties hereto, such conveyance is deemed to be in respect of a loan, it is intended that: (1i) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2ii) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the such Mortgage Loans and other propertyAssets; and (3iii) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s 's right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2b) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s 's right, title and interest in, to and under, whether now owned or hereafter acquired, the such Mortgage Loans and other property; and (3c) this Agreement shall constitute a security agreement under applicable law.

Grant Clause. It is intended that the conveyance of the Seller’s right, title and interest in and to the Mortgage Loans and other property conveyed pursuant to this Agreement on the Closing Date and any Transfer Date shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if any such conveyance is deemed to be in respect of a loan, it is intended that: (1a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2b) the Seller hereby grants to the Depositor a first priority security interest in all of the Seller’s right, title and interest in, to and under, whether now owned or hereafter acquired, the Mortgage Loans and other property; and (3c) this Agreement shall constitute a security agreement under applicable law.