Common use of Instruments of Satisfaction or Release Clause in Contracts

Instruments of Satisfaction or Release. Without limiting the generality of subsection (c) of this Section 4.01, the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Grantor Trust Holder and the Grantor Trustee or any of them, and upon notice to the Grantor Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee and Grantor Trust Holder. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the generality of subsection (c) of this Section 4.014.1(c), the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, empowered when the Servicer believes it appropriate in its best judgment, judgment and subject to the requirements of this Agreement or Acceptable Servicing Procedures to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Issuer or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation cancellation, or of partial or full release or discharge, and all other comparable instruments instruments, with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in deed-in-lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Issuer and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors Mortgagors any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the generality of subsection (c) of this Section 4.01, the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Trust or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the generality of subsection (cd) of this Section 4.01, the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Trust or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments with respect to the Home Loans and the Mortgaged Properties Loan Collateral and to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors Borrowers any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure PropertyProperty as well as pursuant to Section 4.10(c) hereof, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the -------------------------------------- generality of subsection (c) of this Section 4.014.01(c), the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, empowered when the Servicer believes it appropriate in its best judgment, judgment to execute and deliver, on behalf of the Grantor Trust Holder Certificateholders and the Grantor Trustee Trust or any of them, and upon notice to the Grantor Trustee, any and all instruments of satisfaction or cancellation cancella- tion, or of partial or full release or discharge, and all other comparable instruments instruments, with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in deed-in-lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderCertificateholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative administra- tive duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the generality of subsection (c) of this Section 4.014.01(c), the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgmentjudgment and subject to the requirements of this Agreement or Acceptable Servicing Procedures, to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Trust, or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments instruments, with respect to the Home Mortgage Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in deed-in-lieu of foreclosure so as to convert the ownership of such properties, and to hold hold, or cause to be held held, title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderSecurityholders, or any of them. The Servicer shall service and administer the Home Mortgage Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the generality of subsection (cd) of this Section SECTION 4.01, the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Trust or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments with respect to the Home Loans and the Mortgaged Properties Loan Collateral and to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors Borrowers any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure PropertyProperty as well as pursuant to SECTION 4.10(c) hereof, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the -------------------------------------- generality of subsection (c) of this Section 4.01, the Servicer, in its own ------------ name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Trust or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the generality of subsection (c) of this Section 4.01, the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, when the Servicer believes it appropriate in its best judgment, to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Issuer or any of them, and upon notice to the Grantor Trustee, any and all instruments of satisfaction or cancellation or of partial or full release or discharge, and all other comparable instruments with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Issuer and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.

Instruments of Satisfaction or Release. Without limiting the -------------------------------------- generality of subsection (c) of this Section 4.014.01(c), the Servicer, in its own name or in the name of a Subservicer, is hereby authorized and empowered, empowered when the Servicer believes it appropriate in its best judgment, judgment to execute and deliver, on behalf of the Grantor Trust Holder Securityholders and the Grantor Trustee Trust or any of them, and upon notice to the Grantor Indenture Trustee, any and all instruments of satisfaction or cancellation cancellation, or of partial or full release or discharge, and all other comparable instruments instruments, with respect to the Home Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed in deed-in-lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Grantor Trustee Trust and Grantor Trust HolderSecurityholders. The Servicer shall service and administer the Home Loans in accordance with applicable state and federal law and shall provide to the Obligors any reports required to be provided to them thereby. The Grantor Indenture Trustee shall execute, at the written direction of the Servicer, any limited or special powers of attorney and other documents reasonably acceptable to the Grantor Indenture Trustee to enable the Servicer or any Subservicer to carry out their servicing and administrative duties hereunder, including, without limitation, limited or special powers of attorney with respect to any Foreclosure Property, and the Grantor Indenture Trustee shall not be accountable for the actions of the Servicer or any Subservicers under such powers of attorney and shall be indemnified by such parties with respect to such actions.