Common use of Intervening or Missing Assignments Clause in Contracts

Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member or a Failed Bank that is not contained in the Loan File or among the Underlying Collateral Documents. Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial Member, the FDIC or a Failed Bank, nor the existence of any Lien on the Loan or its Underlying Collateral, nor any defect in the Lien or priority of the Initial Member’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or a Failed Bank that might be missing from the Underlying Collateral Documents, but the costs thereof shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency Agreement.

Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member or a Failed Bank that is not contained in the Loan File or among the Underlying Collateral Documents. Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial Member, the FDIC or a Failed Bank, nor the existence of any Lien on the Loan or its Underlying Collateral, nor any defect in the Lien or priority of the Initial Member’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or a Failed Bank that might be missing from the Underlying Collateral Documents, but the costs thereof shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency AgreementCharges.

Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member Transferor shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member Transferor or a any Failed Bank that is not contained in the Loan File documents or among files delivered to the Underlying Collateral DocumentsCompany or the Custodian pursuant to Section 3.1(b). Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial MemberTransferor, the FDIC or a any Failed Bank, nor the existence of any Lien on the Loan Asset or its Underlying Collateral, nor any defect in the Lien or priority of the Initial MemberTransferor’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial MemberTransferor, the FDIC or a any Failed Bank that might may be missing from the Underlying Collateral Documentsdocuments or files delivered to the Custodian pursuant to Section 3.1(b), but the costs thereof incurred by the Company (or the Manager or the Servicer for the benefit of the Company) shall constitute Pre-Pre- Approved Charges for purposes of the Custodial and Paying Agency AgreementCharges.

Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member or a Failed Bank that is not contained in the Mortgage Loan File or among the Underlying Collateral Documents. Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial Member, the FDIC or a Failed Bank, nor the existence of any Lien on the Mortgage Loan or its Underlying Collateral, nor any defect in the Lien or priority of the Initial Member’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for re-purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or a Failed Bank that might be missing from the Underlying Collateral Documents, but the costs thereof shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency Agreement.

Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member or a the Failed Bank that is not contained in the Loan Asset File or among the Underlying Collateral Documents. Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial Member, the FDIC or a the Failed Bank, nor the existence of any Lien on the Loan Asset or its Underlying Collateral, nor any defect in the Lien or priority of the Initial Member’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or a the Failed Bank that might be missing from the Underlying Collateral Documents, but the costs thereof of the Company (or the Manager or the Servicer for the benefit of the Company) shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency AgreementCharges.

Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member or a the Failed Bank that is not contained in the Loan Asset File or among the Underlying Collateral Documents. Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial Member, the FDIC or a the Failed Bank, nor the existence of any Lien on the Loan Asset or its Underlying Collateral, nor any defect in the Lien or priority of the Initial Member’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or a the Failed Bank that might be missing from the Underlying Collateral Documents, but the costs thereof of the Company (or the Manager or the Servicer for the benefit of the Company) shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency Agreement.