MERS Membership Clause Samples

The MERS Membership clause establishes that a party, typically a lender or servicer, is a member of the Mortgage Electronic Registration Systems, Inc. (MERS). This clause outlines the party's rights and obligations regarding the registration, transfer, and servicing of mortgage loans within the MERS system. For example, it may require that all mortgage assignments be recorded electronically through MERS rather than traditional county records. The core function of this clause is to streamline the process of tracking and transferring mortgage interests, reducing paperwork and administrative costs while ensuring accurate and efficient record-keeping.
MERS Membership. Seller is a member in good standing under the MERS system.
View SourceView Similar (98)
MERS Membership. Purchaser is a member in good standing of the MERS system.
View SourceView Similar (22)
MERS Membership. The Servicer is a member of MERS in good standing.
View SourceView Similar (20)
MERS Membership. If Servicer’s membership in MERS is terminated by MERS for any reason, Servicer shall, within thirty (30) days of the effective date of such termination and with the Owners’ consent, deliver to the recording office Assignments of Mortgage from MERS to the applicable Owner or its designee at Servicer’s cost and expense, without reimbursement therefor. In connection with the assignment of any Mortgage Loan for which MERS is designated as the mortgagee of record, the Servicer agrees that it will cause, at the Seller’s expense, the MERS mortgage electronic registry system (as more particularly described in the MERS Procedures Manual) (the “MERS System”) to indicate that such Mortgage Loans have been assigned to the related Owner by including in such computer files the information required by the MERS System to identify such Owner as “investor” under the MERS System.
View SourceView Similar (3)
MERS Membership. MorEquity is an approved member in good standing of the MERS System.
View SourceView Similar (2)
MERS Membership. As of the Effective Date, AHMH is a MERS Member, the Borrowers are authorized users of the MERS System pursuant to the membership of AHMH, and AHMH and the Borrowers are in compliance with all terms and conditions of membership in MERS.
View SourceView Similar (2)
MERS Membership. (i) Seller will remain a member of MERS in good standing. (ii) If for any reason Seller ceases to be a member of MERS, Seller will deliver to Administrative Agent or its designee an Assignment in Blank for each Purchased Mortgage Loan then subject to Transactions within five (5) Business Days following such termination of Seller’s MERS membership.
View SourceView Similar (2)
MERS Membership. Purchaser is a member in good standing of the MERS system. ARTICLE VII COVENANTS Purchaser and Seller covenant and agree as follows:
View Source

Related to MERS Membership

  • Membership The Committee shall include nine (9) members - five (5) representatives from CUPE/SCFP and four (4) representatives from the CTA. Up to two (2) advisors from the Ministry of Education shall act in a resource capacity to the committee. Other persons may attend meetings in order to provide support and resources as mutually agreed. Up to one (1) representative from each of the four (4) employee bargaining agencies at the other education workers tables will be invited to participate on the Committee.

  • APARTMENT OWNERSHIP ACT (OF THE RELEVANT STATE The Promoter has assured the Allottees that the project in its entirety is in accordance with the provisions of the [Please insert the name of the state Apartment Ownership] Act). The Promoter showing compliance of various laws/regulations as applicable in .

  • Committee Membership 1. Local representatives on committees specifically established by this Collective Agreement shall be appointed by the local. 2. In addition, if the employer wishes to establish a committee which includes bargaining unit members, it shall notify the local about the mandate of the committee, and the local shall appoint the representatives. The local will consider the mandate of the committee when appointing the representatives. If the employer wishes to discuss the appointment of a representative, the superintendent, or designate, and the president or designate of the local may meet and discuss the matter. 3. Release time with pay shall be provided by the employer to any employee who is a representative on a committee referred to in Article A.5.1 and A.5.2 above, in order to attend meetings that occur during normal instructional hours. Teacher teaching on call (TTOC) costs shall be borne by the employer. 4. When a TTOC is appointed to a committee referred to in Article A.5.1 and A.5.2 above, and the committee meets during normal instructional hours, the TTOC shall be paid pursuant to the provisions in each district respecting TTOC Pay and Benefits. A TTOC attending a “half day” meeting shall receive a half day’s pay. If the meeting extends past a “half day,” the TTOC shall receive a full day’s pay.

  • Management of the Partnership The Limited Partners shall not participate in the management or control of Partnership business nor shall they transact any business for the Partnership, nor shall they have the power to sign for or bind the Partnership, such powers being vested solely and exclusively in the General Partner.

  • Formation of the Partnership The Partnership was formed as a limited partnership pursuant to the provisions of the Act and the Original Agreement and continued upon the terms and subject to the conditions set forth in this Agreement. Except as expressly provided herein to the contrary, the rights and obligations of the Partners and administration and termination of the Partnership shall be governed by the Act. The Partnership Interest of each Partner shall be personal property for all purposes.