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.
Appears in 47 contracts
Samples: Mortgage Loan Sale and Assignment Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-8), Mortgage Loan Sale and Assignment Agreement (Lehman XS Trust Series 2007-2n), Mortgage Loan Sale and Assignment Agreement (Lehman XS Trust Series 2006-18n)
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.
Appears in 7 contracts
Samples: Purchase Agreement (Structured Adjustable Rate Mortgage Loan Trust), Loan Purchase Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1), Sale and Assignment Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-33h)
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.
Appears in 3 contracts
Samples: Sale and Assignment Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2001-Bc5), Assignment Agreement (Amortizing Resi Collateral Tr Mort Pas Thru Cer Ser 2001-Bc1), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Ce Se 2001-Bc3)
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.
Appears in 2 contracts
Samples: Sale and Assignment Agreement (Structured Asset Securities Corp Mor Pas THR Cer Sr 2001-Bc4), Warranties Agreement (Amortizing Resi Collateral Tr Mor Pas Thru Cert Ser 2000-Bc3)
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.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4)
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.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp)
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.
Appears in 1 contract
Samples: Assignment Agreement (Structured Asset Securities Corp Mo Pa Th Ce Se 2000-Bc2)
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.
Appears in 1 contract
Samples: Assignment Agreement (Amortizing Resi Collateral Tr Mort Pas Thru Cer Ser 2001-Bc1)
