Common use of MERS Designated Loans Clause in Contracts

MERS Designated Loans. With respect to each MERS Designated Mortgage Loan, the Seller shall, no later than two Business Days after the related Closing Date, designate the Purchaser as the Investor and the Custodian as custodian, and no Person shall be listed as Interim Funder on the MERS System. In addition, no later than two Business Days after the related Closing Date, Seller shall provide the Custodian and the Purchaser with a MERS Report listing the Purchaser as the Investor, the Custodian as custodian and no Person as Interim Funder with respect to each MERS Designated Mortgage Loan.

MERS Designated Loans. With respect to each MERS Designated Mortgage Loan, the Seller shall, no later than two (2) Business Days after following the related Closing Date, designate the Purchaser as the Investor and the Custodian as custodian, and no Person shall be listed as Interim Funder on the MERS System. In addition, no later than two Business Days after on or prior to the related Closing Date, Seller shall provide the Custodian and the Purchaser with a MERS Report listing the Purchaser as the Investor, the Custodian as custodian and no Person as Interim Funder with respect to each MERS Designated Mortgage Loan.