Common use of Intervening or Missing Assignments Clause in Contracts

Intervening or Missing Assignments. The Company acknowledges and agrees that the Transferor shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Transferor or the Failed Bank that is not contained in the documents or files delivered to the Company or the Custodian pursuant to Section 3.1(b). Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Transferor, the FDIC or the Failed Bank, nor the existence of any Lien on the Asset or its Collateral, nor any defect in the Lien or priority of the Transferor’s or the Failed Bank’s security interest in the Collateral shall give rise to any claim for purchase under Article

Intervening or Missing Assignments. The Company acknowledges and agrees that the Transferor shall will have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Transferor or the Failed Bank that is not contained in the documents or files delivered to the Company or the Custodian pursuant to Section 3.1(b). Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Transferor, the FDIC or the Failed Bank, nor the existence of any Lien on the Asset or its Collateral, nor any defect in the Lien or priority of the Transferor’s or the Failed Bank’s security interest in the Collateral shall will give rise to any claim for purchase under Article