Common use of HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS Clause in Contracts

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans shall pass to Buyer or its designee and Buyer or its designee shall have free and unrestricted use of all Purchased Mortgage Loans. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any Person, including without limitation, the Federal Home Loan Bank. No such transaction shall relieve Buyer of its obligations to transfer Purchased Mortgage Loans back to Seller pursuant to this Agreement, or of Buyer’s obligation to credit or pay Income to, or apply Income to the obligations of, Seller pursuant to this Agreement. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans Repurchase Assets shall pass to Buyer or its designee and Buyer or its designee shall have free and unrestricted use of all Purchased Mortgage Loans. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any Person, including without limitation, the Federal Home Loan Bank. No such Notwithstanding the foregoing, any transaction described in this Section 20 shall not relieve the Buyer of its obligations obligation to transfer deliver any such Purchased Mortgage Loans back to Seller pursuant to this Agreement, or following Seller’s repurchase of Buyer’s obligation to credit or pay Income to, or apply Income such Purchased Mortgage Loans in accordance with Section 3(d) hereof. Subject to the obligations offoregoing, Seller pursuant to this Agreement. Nothing nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans Repurchase Assets shall pass to Buyer or its designee and Buyer or its designee shall have free and unrestricted use of all Purchased Mortgage Loans, subject to the terms of this Agreement. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any Person, including without limitation, the Federal Home Loan Bank. No such transaction Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by Seller. Notwithstanding any of the foregoing to the contrary, unless an Event of Default shall have occurred and be continuing, none of the foregoing shall relieve Buyer of its obligations to transfer Purchased Mortgage Loans back to Seller pursuant to this Agreement, Agreement or of Buyer’s obligation to credit or pay Income to, or apply Income to the obligations of, Seller pursuant to this Agreement. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans Repurchase Assets shall pass to Buyer or its designee and Buyer or its designee shall have free and unrestricted use of all Purchased Mortgage Loans. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any Person, including without limitation, the Federal Home Loan Bank. No ; provided that Buyer provides Seller with prior written notice of any such transaction shall relieve Buyer of its obligations transactions and in all cases subject to transfer Purchased Mortgage Loans back to Seller pursuant to this Agreement, or of Buyer’s obligation to credit or pay Income toreconvey the Purchased Assets (and not substitutes therefor) on the Repurchase Date, all at no cost to Seller; provided that any such pledging, repledging, transferring, hypothecating, or apply Income rehypothecating the Purchased Mortgage Loans shall be subject to the obligations of, Seller pursuant to this AgreementSeller’s rights hereunder in such Purchased Mortgage Loans. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans Repurchase Assets shall pass to Buyer or its designee and Buyer or its designee shall have free and unrestricted use of all Purchased Mortgage Loans. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any Person, including including, without limitation, the Federal Home Loan Bank. No such transaction shall relieve Buyer of its obligations to transfer Purchased Mortgage Loans back to Seller pursuant to this Agreement, or of Buyer’s obligation to credit or pay Income to, or apply Income to the obligations of, Seller pursuant to this Agreement. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by a Seller. Nothing in this Section 20 shall relieve Buyer of any of its obligations under this Agreement to allow the relevant Seller to repurchase Purchased Mortgage Loans in accordance with the applicable provisions hereof.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans Repurchase Assets shall pass to Buyer or its designee the Administrative Agent as agent of Buyers, and Buyer or its designee the Administrative Agent for the benefit of Buyers shall have free and unrestricted use of all Purchased Mortgage Loans. Nothing in this Agreement shall preclude Buyer the Buyers from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any Person, including without limitation, the Federal Home Loan Bank. No ; provided that Buyer provides Seller with prior written notice of any such transaction shall relieve Buyer of its obligations transactions and in all cases subject to transfer Purchased Mortgage Loans back to Seller pursuant to this Agreement, or of Buyer’s obligation to credit or pay Income toreconvey the Purchased Assets (and not substitutes therefor) on the Repurchase Date, all at no cost to Seller; provided that any such pledging, repledging, transferring, hypothecating, or apply Income rehypothecating the Purchased Mortgage Loans shall be subject to the obligations of, Seller pursuant to this AgreementSeller’s rights hereunder in such Purchased Mortgage Loans. Nothing contained in this Agreement shall obligate Buyer the Administrative Agent to segregate any Purchased Mortgage Loans delivered to Buyer the Administrative Agent by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Related Purchased Mortgage Loans shall pass to Buyer or its designee and Buyer or its designee shall have free and unrestricted use of all Purchased Mortgage Loans. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans to any PersonLoans, including without limitation, the Federal Home Loan Bank. No but no such transaction shall relieve Buyer of its obligations to transfer Purchased Mortgage Loans back to Seller pursuant to this Agreement, or of Buyer’s obligation to credit or pay Income to, or apply Income to the obligations of, Seller pursuant to this AgreementSection 3. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans delivered to Buyer by Seller. Without limiting any of Buyer's rights pursuant to this section and pursuant to the Custodial Agreement, Buyer shall not pledge or rehypothecate the Mortgage Loans if such pledge or rehypothecation shall require the removal of the Mortgage File from the Custodian.