Grant Clause. It is intended that the conveyance of the Seller's right, title and interest in and to Mortgage Loans and other property conveyed pursuant to this Agreement 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 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, such Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.
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Samples: Assignment Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Ab1), Assignment Agreement (Merrill Lynch Mortgage Investors Inc), Assignment Agreement (Specialty Underwriting & Residential Finance Trust, Series 2005-Ab3)
Grant Clause. It is intended that the conveyance of the Seller's Bank’s right, title and interest in and to Mortgage Loans and other property conveyed pursuant to this Agreement 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 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 Bank hereby grants to the Depositor a first priority security interest in all of the Seller's Bank’s right, title and interest in, to and under, whether now owned or hereafter acquired, such Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.
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Samples: Loan Purchase Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-24), Mortgage Loan Sale and Assignment Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 03 4), Servicing Agreement (Structured Asset Securities Co Mor Pass-THR Cer Ser 2002-19)
Grant Clause. It is intended that the conveyance of the SellerBank's right, title and interest in and to Mortgage Assistance Loans and other property conveyed pursuant to this Agreement 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 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 Bank hereby grants to the Depositor a first priority security interest in all of the SellerBank's right, title and interest in, to and under, whether now owned or hereafter acquired, such Mortgage Assistance Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.
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Grant Clause. It is intended that the conveyance of the Seller's right, title and interest in and to Option One Mortgage Loans and other property conveyed pursuant to this Agreement 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 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, such Option One Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.
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Samples: Assignment Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He2)
Grant Clause. It is intended that the conveyance of the Seller's ’s right, title and interest in and to Mortgage Loans and other property conveyed pursuant to this Agreement 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 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, such Mortgage Loans and other property; and (3) this Agreement shall constitute a security agreement under applicable law.
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