Common use of Loans in Bankruptcy Clause in Contracts

Loans in Bankruptcy. In accordance with Bankruptcy Rules 3001 and 3002, the Company shall take all actions necessary to file, prior to the respective Servicing Transfer Dates (i) proofs of claims in pending bankruptcy cases involving any Loans for which the Initial Member or the Failed Banks have not already filed a proof of claim, and (ii) all documents required by Rule 3001 of the Federal Rules of Bankruptcy Procedure and to take all such similar actions as might be required in any relevant jurisdiction in any pending bankruptcy or insolvency case or proceeding in such jurisdiction involving any Loan in order to evidence and assert the Company’s rights. The Company shall prepare and provide to the Initial Member, on or prior to the respective Servicing Transfer Date, an Affidavit and Assignment of Claim in the form attached to this Agreement as Attachment C or any similar forms as might be required in any relevant Foreign Jurisdiction and shall be acceptable to the Initial Member, for each Loan where a Borrower under such Loan is in bankruptcy as of the Closing Date. The Company hereby releases the Initial Member, the FDIC and the Failed Banks from any claim, demand, suit or cause of action the Company might have as a result of any action or inaction on the part of the Initial Member, the FDIC or the Failed Banks with respect to such Loan. In the event the Company fails, prior to the respective Servicing Transfer Date, to take the actions required by this Section 4.6, (a) the Initial Member may, but shall have no obligation to, file proofs of claim or other documents as the Initial Member determines to be necessary or appropriate to evidence and assert the Company’s rights and, (b) in the event the Initial Member does take any such actions, the Company shall be liable for and hereby agrees to pay all costs and expenses incurred by the Initial Member in connection therewith (which costs incurred by the Initial Member shall constitute Servicing Expenses for purposes of the Custodial and Paying Agency Agreement). The provisions of this Section are subject to the right of the Initial Member to retain claims pursuant to Section 2.6 of this Agreement, including any such claims as might have been asserted in litigation pending as of the Closing Date. At the Initial Member’s discretion, litigation involving any such claims shall be bifurcated, with the Initial Member remaining the real party-in-interest and retaining control over (and being responsible for pursuing and bearing the related costs to pursue) claims retained by it pursuant to Section 2.7 and the Company substituting itself as the real party-in-interest and taking control of (and being responsible for pursuing and bearing the cost of pursuing) the remaining claims in the litigation.

Loans in Bankruptcy. In accordance with Bankruptcy Rules 3001 and 3002Rule 3001(e), the Company shall agrees to take all actions necessary to file, prior to the respective Servicing Transfer Dates Date, (i) proofs of claims in pending bankruptcy cases involving any Loans for which the Initial Member or the Failed Banks have Bank has not already filed a proof of claim, and (ii) all documents required by Rule 3001 3001(e)(2) of the Federal Rules of Bankruptcy Procedure and to take all such similar actions as might may be required in any relevant jurisdiction in any pending bankruptcy or insolvency case or proceeding in such jurisdiction involving any Loan Loans in order to evidence and assert the Company’s rights. The Company shall prepare and provide to the Initial Member, on or prior to the respective Servicing Transfer Date, an Affidavit and Assignment of Claim in the form attached to this Agreement as Attachment C or any similar forms as might may be required in any relevant Foreign Jurisdiction and shall be acceptable to the Initial Member, for each Loan where a Borrower under such Loan is in bankruptcy as of the Closing Effective Date. The Company hereby releases the Initial Member, the FDIC Member and the Failed Banks Bank from any claim, demand, suit or cause of action the Company might may have as a result of any action or inaction on the part of the Initial Member, the FDIC Member or the Failed Banks Bank with respect to such Loan. In the event the Company fails, prior to the respective Servicing Transfer Date, to take the actions required by this Section 4.6Section, (a1) the Initial Member may, but shall have no obligation to, file proofs of claim or other documents as the Initial Member determines to may be necessary or appropriate to evidence and assert the Company’s rights and, (b2) in the event the Initial Member does take any such actions, the Company shall be liable for and hereby agrees to pay all costs and expenses incurred by the Initial Member in connection therewith (which regardless of whether such costs incurred by the Initial Member shall and expenses constitute Servicing Expenses for purposes of the Custodial and Paying Agency AgreementAdvances). The provisions of this Section are subject to the right of the Initial Member to retain claims pursuant to Section 2.6 of this Agreement, including any such claims as might may have been asserted in litigation pending as of the Closing Date. At the Initial Member’s discretion, litigation involving any such claims shall be bifurcated, with the Initial Member remaining the real party-in-party in interest and retaining control over (and being responsible for pursuing and bearing the related costs to pursue) claims retained by it pursuant to Section 2.7 2.6 and the Company substituting itself as the real party-in-party in interest and taking control of (and being responsible for pursuing and bearing the cost of pursuing) the remaining claims in remainder of the litigation.

Loans in Bankruptcy. In accordance with Bankruptcy Rules 3001 and 3002, the Company shall agrees to take all actions necessary to file, prior to the respective Servicing Transfer Dates Date, (i) proofs of claims in pending bankruptcy cases involving any Loans for which the Initial Member or the Failed Banks have Bank has not already filed a proof of claim, and (ii) all documents required by Bankruptcy Rule 3001 of the Federal Rules of Bankruptcy Procedure and to take all such similar actions as might may be required in any relevant jurisdiction in any pending bankruptcy or insolvency case or proceeding in such jurisdiction involving any Loan Loans in order to evidence and assert the Company’s rights. The Company shall prepare and provide to the Initial Member, on or prior to the respective Servicing Transfer Date, an Affidavit and Assignment of Claim in the form attached to this Agreement as Attachment C or any similar forms as might may be required in any relevant Foreign Jurisdiction and shall be acceptable to the Initial Member, for each Loan where a Borrower under such Loan is in bankruptcy as of the Closing Effective Date. The Company hereby releases the Initial Member, the FDIC Member and the Failed Banks Bank from any claim, demand, suit or cause of action the Company might may have as a result of any action or inaction on the part of the Initial Member, the FDIC Member or the Failed Banks Bank with respect to such Loan. In the event the Company fails, prior to the respective Servicing Transfer Date, to take the actions required by this Section 4.6Section, (a1) the Initial Member may, but shall have no obligation to, file proofs of claim or other documents as the Initial Member determines to may be necessary or appropriate to evidence and assert the Company’s rights and, (b2) in the event the Initial Member does take any such actions, the Company shall be liable for and hereby agrees to pay all costs and expenses incurred by the Initial Member in connection therewith (which regardless of whether such costs incurred by the Initial Member shall and expenses constitute Servicing Expenses for purposes of the Custodial and Paying Agency AgreementPost-Cut-Off Date Advances). The provisions of this Section are subject to the right of the Initial Member to retain claims pursuant to Section 2.6 of this Agreement, including any such claims as might may have been asserted in litigation pending as of the Closing Datedate of the Closing. At the Initial Member’s discretion, litigation involving any such claims shall be bifurcated, with the Initial Member remaining the real party-party- in-interest and retaining control over (and being responsible for pursuing and bearing the related costs to pursue) claims retained by it pursuant to Section 2.7 2.6 and the Company substituting itself as the real party-in-interest and taking control of (and being responsible for pursuing and bearing the cost of pursuing) the remaining claims in remainder of the litigation.

Loans in Bankruptcy. In accordance with Bankruptcy Rules 3001 and 3002, the Company shall take all actions necessary to file, prior to within thirty (30) Business Days after the respective Servicing Transfer Dates Closing Date, (i) proofs of claims in pending bankruptcy cases involving any Loans for which the Initial Member or the Failed Banks IndyMac Federal (or its predecessors-in-interest) have not already filed a proof of claim, and (ii) all documents required by Bankruptcy Rule 3001 of the Federal Rules of Bankruptcy Procedure and to take all such similar actions as might may be required in any relevant jurisdiction in any pending bankruptcy or insolvency case or proceeding in such jurisdiction involving any Loan Loans in order to evidence and assert the Company’s rights. The Company shall prepare and provide to the Initial Member, on or prior to Member within thirty (30) Business Days after the respective Servicing Transfer Closing Date, an Affidavit and Assignment of Claim in the form attached to this Agreement as Attachment C or any similar forms as might may be required in any relevant Foreign Jurisdiction and shall be acceptable to the Initial Member, for each Loan where a Borrower under such Loan is in bankruptcy as of the Closing Date. The Company hereby releases the Initial Member, Member and IndyMac Federal (and its predecessors-in-interest) and the FDIC and the Failed Banks from any claim, demand, suit or cause of action the Company might may have as a result of any action or inaction on the part of the Initial Member, Member or IndyMac Federal (or its predecessors-in-interest) or the FDIC or the Failed Banks with respect to such LoanLoan and the Company further agrees to reimburse the Initial Member for any cost or expense incurred by the Initial Member as a result of the Company’s failure to file an Affidavit and Assignment of Claim or similar forms as required herein. In the event the Company fails, prior fails to the respective Servicing Transfer Date, to take the actions required by comply with this Section 4.6, (a) the Initial Member may, but shall have no obligation to, file proofs of claim or other documents as the Initial Member determines to be necessary or appropriate to evidence and assert the Company’s rights and, (b) in the event the Initial Member does take any such actions, the Company shall be liable for and hereby agrees to pay all costs and expenses incurred by the Initial Member in connection therewith (which costs incurred by the Initial Member shall constitute Servicing Expenses for purposes of the Custodial and Paying Agency Agreement). The provisions of this Section are subject to the right of the Initial Member to retain claims pursuant to Section 2.6 of this Agreement, including any such claims as might have been asserted in litigation pending as of the Closing Date. At the Initial Member’s discretion, litigation involving any such claims shall be bifurcated, with the Initial Member remaining the real party-in-interest and retaining control over (and being responsible for pursuing and bearing the related costs to pursue) claims retained by it pursuant to Section 2.7 and the Company substituting itself as the real party-in-interest and taking control of (and being responsible for pursuing and bearing the cost of pursuing) the remaining claims in the litigation.Section

Loans in Bankruptcy. In accordance with Bankruptcy Rules 3001 and 3002, the Company shall take all actions necessary to file, prior to the respective Servicing Transfer Dates (i) proofs of claims in pending bankruptcy cases involving any Loans for which the Initial Member or the Failed Banks have not already filed a proof of claim, and (ii) all documents required by Rule 3001 of the Federal Rules of Bankruptcy Procedure and to take all such similar actions as might be required in any relevant jurisdiction in any pending bankruptcy or insolvency case or proceeding in such jurisdiction involving any Loan in order to evidence and assert the Company’s rights. The Company shall prepare and provide to the Initial Member, on or prior to the respective Servicing Transfer Date, an Affidavit and Assignment of Claim in the form attached to this Agreement as Attachment C or any similar forms as might be required in any relevant Foreign Jurisdiction and shall be acceptable to the Initial Member, for each Loan where a Borrower under such Loan is in bankruptcy as of the Closing Date. The Company hereby releases the Initial Member, the FDIC and the Failed Banks from any claim, demand, suit or cause of action the Company might have as a result of any action or inaction on the part of the Initial Member, the FDIC or the Failed Banks with respect to such Loan. In the event the Company fails, prior to the respective Servicing Transfer Date, to take the actions required by this Section 4.6, (a) the Initial Member may, but shall have no obligation to, file proofs of claim or other documents as the Initial Member determines to be necessary or appropriate to evidence and assert the Company’s rights and, (b) in the event the Initial Member does take any such actions, the Company shall be liable for and hereby agrees to pay all costs and expenses incurred by the Initial Member in connection therewith (which costs incurred by the Initial Member shall constitute Servicing Expenses for purposes of the Custodial and Paying Agency Agreement). The provisions of this Section are subject to the right of the Initial Member to retain claims pursuant to Section 2.6 2.7 of this Agreement, including any such claims as might have been asserted in litigation pending as of the Closing Date. At the Initial Member’s discretion, litigation involving any such claims shall be bifurcated, with the Initial Member remaining the real party-in-interest and retaining control over (and being responsible for pursuing and bearing the related costs to pursue) claims retained by it pursuant to Section 2.7 and the Company substituting itself as the real party-in-interest and taking control of (and being responsible for pursuing and bearing the cost of pursuing) the remaining claims in the litigation.