Mandatory Delivery; Grant of Security Interest. The sale and delivery on the related Closing Date of the Mortgage Loans described on the related Mortgage Loan Schedule is mandatory from and after the date of the execution of the related Purchase Price and Terms Agreement, it being specifically understood and agreed that each Mortgage Loan is unique and identifiable on the date hereof and that an award of money damages would be insufficient to compensate the Purchaser for the losses and damages incurred by the Purchaser (including damages to prospective purchasers of the Mortgage Loans) in the event of the Seller's failure to deliver (i) each of the related Mortgage Loans or (ii) one or more Qualified Substitute Mortgage Loans or (iii) one or more Mortgage Loans otherwise acceptable to the Purchaser on or before the related Closing Date. The Seller hereby grants to the Purchaser a lien on and a continuing security interest in each Mortgage Loan and each document and instrument evidencing each such Mortgage Loan to secure the performance by the Seller of its obligations under the related Purchase Price and Terms Agreement, and the Seller agrees that it shall hold such Mortgage Loans in custody for the Purchaser subject to the Purchaser's (a) right to reject any Mortgage Loan (or Qualified Substitute Mortgage Loan) under the terms of this Agreement and to require another Mortgage Loan (or Qualified Substitute Mortgage Loan) to be substituted therefor, and (b) obligation to pay the Purchase Price for the Mortgage Loans. All rights and remedies of the Purchaser under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. The sale and delivery on the related Closing Date of the Mortgage Loans described on the related Mortgage Loan Schedule is mandatory from and after the date of the execution of the related Purchase Price and Terms Agreement, it being specifically understood and agreed that each Mortgage Loan is unique and identifiable on the date hereof and that an award of money damages would be insufficient to compensate the Purchaser for the losses and damages incurred by the Purchaser (including damages to prospective purchasers of the Mortgage Loans) in the event of the Seller's failure to deliver (i) each of the related Mortgage Loans or (ii) one or more Qualified Substitute Mortgage Loans or (iii) one or more Mortgage Loans otherwise acceptable to the Purchaser on or before the related Closing Date. All rights and remedies of the Purchaser under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. Notices......................................................
Mandatory Delivery; Grant of Security Interest. The transfer and delivery on the Closing Date by each Transferor of its Mortgage Loans is mandatory, it being specifically understood and agreed that each Mortgage Loan is unique and identifiable on the date hereof and that an award of money damages would be insufficient to compensate the applicable Transferee for the loss and damages incurred by such Transferee (including damages to prospective purchasers of the Certificates) in the event of such Transferor's failure to deliver the Mortgage Loans on or before the Closing Date. Each Transferor hereby grants to its applicable Transferee a lien on and continuing security interest in each Mortgage Loan and each document and instrument evidencing such Mortgage Loan to secure the performance by such Transferors of their obligations hereunder, and such Transferors agree that it holds each Mortgage Loan in custody for the Transferees subject to the Transferees' (i) right to reject any Mortgage Loan under the terms of this Agreement and (ii) obligation to deliver cash and other consideration as set forth in Section 2.01
Mandatory Delivery; Grant of Security Interest. The sale and delivery of each Loan on or before the related Closing Date is mandatory from and after the date of the execution of the related Confirmation, it being specifically understood and agreed that each Loan is unique and identifiable on the date of such Confirmation and that an award of money damages would be insufficient to compensate the Initial Purchaser for the losses and damages incurred by the Initial Purchaser (including damages to prospective purchasers of the Loans) in the event of the Seller’s failure to deliver each of the related Loans or one or more Loans otherwise acceptable to the Initial Purchaser on or before the related Closing Date. The Seller hereby grants to the Initial Purchaser a lien on and a continuing security interest in each Loan and each document and instrument evidencing each such Loan to secure the performance by the Seller and the Servicer of its obligations hereunder, and the Seller agrees that it holds such Loans in custody for the Initial Purchaser subject to the Initial Purchaser’s (i) right to reject any Loan under the terms of this Agreement and the related Confirmation, and (ii) obligation to pay the related Purchase Price for the Loans. All rights and remedies of the Purchaser under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. The sale and delivery of a pool of mortgage loans conforming to the characteristics set forth in the related Commitment Letter on or before the related Closing Date is mandatory from and after the date of the execution of the related Commitment Letter. All rights and remedies of the Purchaser under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. The sale and delivery on the Closing Date of the Mortgage Loans described in the Mortgage Loan Schedule is mandatory, it being specifically understood and agreed that each Mortgage Loan is unique and identifiable on the date hereof and that an award of money damages would be insufficient to compensate SAXON for the losses and damages incurred by SAXON in the event of SFM’s failure to deliver the Mortgage Loans on or before the Closing Date. SFM hereby grants to the Trustee for the benefit of the Certificateholders, a lien on and a continuing first priority security interest in each Mortgage Loan and each document and instrument evidencing each such Mortgage Loan to secure the performance by SFM of its obligation to deliver such Mortgage Loans hereunder. Subject to Section 7(c) hereof, all rights and remedies of SAXON under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. The sale and delivery on the Closing Date of the Mortgage Loans described in the Mortgage Loan Schedule are mandatory, it being specifically understood and agreed that each Mortgage Loan is unique and identifiable on the Closing Date and that an award of money damages would be insufficient to compensate the Depositor for the losses and damages that would be incurred by the Depositor in the event of the Seller's failure to deliver the Mortgage Loans on or before the Closing Date. The Seller hereby grants to the Depositor a first lien on and a continuing first priority security interest in each Mortgage Loan and each document and instrument evidencing each Mortgage Loan to secure the performance by the Seller of its obligation to deliver such Mortgage Loans hereunder. All rights and remedies of the Depositor under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity, and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. The sale and delivery on the Closing Date of the [Mortgage Loans][Assets] described in the [Mortgage Loan] [Asset] Schedule is mandatory, it being specifically understood and agreed that each [Mortgage Loan][Asset] is unique and identifiable on the date hereof and that an award of money damages would be insufficient to compensate the Purchaser for the losses and damages incurred by the Purchaser in the event of the Seller's failure to deliver the [Mortgage Loans][Assets] on or before the Closing Date. The Seller hereby grants to the Purchaser a lien on and a continuing security interest in each [Mortgage Loan][Asset] and each document and instrument evidencing each such [Mortgage Loan][Asset] to secure the performance by the Seller of its obligation to deliver such [Mortgage Loans][Assets] hereunder. Subject to Section 7(c) hereof, all rights and remedies of the Purchaser under this Sales Agreement are distinct from, and cumulative with, any other rights or remedies under this Sales Agreement or afforded by law or equity and all such rights and remedies may be exercised concurrently, independently or successively.
Mandatory Delivery; Grant of Security Interest. The Sales and delivery on the Closing Date of the Home Loans described in the Home Loan Schedule are mandatory, it being specifically understood and agreed that each Home Loan is unique and identifiable on the Closing Date and that an award of money damages would be insufficient to compensate City Capital and the Depositor for the losses and damages that would be incurred by them in the event of the Seller's failure to deliver the Home Loans on or before the Closing Date. The Seller hereby grants to City Capital, and City Capital hereby assigns such grants to the Depositor, a first lien on and a continuing first priority security interest in each Home Loan and each document and instrument evidencing each Home Loan to secure the performance by the Seller of its obligation to deliver such Home Loans hereunder. All rights and remedies of City Capital and the Depositor under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by law or equity, and all such rights and remedies may be exercised concurrently, independently, or successively.
