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 Repurchase Assets shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Mortgage Loans and Repurchase Assets, subject to the terms of this Agreement. Buyer may engage in repurchase transactions with the Purchased Mortgage Loans or Repurchase Assets or otherwise engage in pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans or Repurchase Assets; provided that the foregoing shall be in all cases subject to the Buyer’s obligation to reconvey the related Purchased Mortgage Loans and Repurchase Assets to the Seller on the related Repurchase Date and upon receipt of the related Repurchase Price by Xxxxx. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans or Repurchase Assets delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED MORTGAGE LOANS. Title to all Purchased Mortgage Loans and Repurchase Assets shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Mortgage Loans and Repurchase Assets, subject to the terms of this Agreement. Buyer may engage in repurchase transactions with the Purchased Mortgage Loans or Repurchase Assets or otherwise engage in pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans or Repurchase Assets, with the written consent of Seller; provided provided, however that if Buyer engages in repurchase transactions with the foregoing shall be in all cases subject to the Buyer’s obligation to reconvey the related Purchased Mortgage Loans and or Repurchase Assets to or otherwise engages in pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans or Repurchase Assets with an Affiliate of Buyer, no such consent of Seller on the related Repurchase Date and upon receipt of the related Repurchase Price by Xxxxxshall be required. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Mortgage Loans or Repurchase Assets delivered to Buyer by Seller.