Common use of MERS Clause in Contracts

MERS. In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As soon as practicable after the Master Servicer's request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement Date), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Servicer shall maintain in good standing its membership in MERS. In addition, the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.

MERS. In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As shall, as soon as practicable after the Master ServicerPurchaser's request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Funding Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement DateFunding Date and subsequent to the Funding Date becomes a MERS Mortgage Loan), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner Purchaser to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Each of the Purchaser and the Servicer shall maintain in good standing its membership in MERS. In addition, each of the Purchaser and the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer Purchaser and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.

MERS. In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As shall, as soon as practicable after the Master Servicer's Purchaser’s request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Funding Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement DateFunding Date and subsequent to the Funding Date becomes a MERS Mortgage Loan), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner Purchaser to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Each of the Purchaser and the Servicer shall maintain in good standing its membership in MERS. In addition, each of the Purchaser and the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer Purchaser and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.

MERS. In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As shall, as soon as practicable after the Master ServicerPurchaser's request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Funding Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement DateFunding Date and subsequent to the Funding Date becomes a MERS Mortgage Loan), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner Purchaser to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Each of the Purchaser and the Servicer shall maintain in good standing its membership in MERS. In addition, Each of the Purchaser and the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer Purchaser and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.

MERS. In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As shall, as soon as practicable after the Master ServicerPurchaser's request from time to time (but in no event more later than 30 days thereafter the end of the month in which the related Funding Date occurs with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Funding Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement DateFunding Date and subsequent to the Funding Date becomes a MERS Mortgage Loan, by the end of the month in which the Mortgage Loan becomes a MERS Mortgage Loan), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner Purchaser to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Servicer shall maintain in good standing its membership in MERS. In addition, the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer Purchaser and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.

MERS. (a) In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As shall, as soon as practicable after the Master Servicer's Purchaser’s request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Funding Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement DateFunding Date and subsequent to the Funding Date becomes a MERS Mortgage Loan ), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner Purchaser to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Each of the Purchaser and the Servicer shall maintain in good standing its membership in MERS. In addition, Each of the Purchaser and the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer Purchaser and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system. (b) Notwithstanding the foregoing, the Servicer acknowledges that as of the date of this Agreement, the Purchaser is not a member of MERS. As such, until such time as the purchaser becomes a member of MERS in good standing, the Sellers and the Servicer shall make such notifications as necessary and insure that the Purchaser is treated as the beneficial rights holder of each MERS Mortgage Loan. Following the date that the Purchaser first becomes a member of MERS in good standing, the Servicer shall take all actions set forth in paragraph (a) of this Section 5.17.

MERS. In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As shall, as soon as practicable after the Master ServicerOwner's request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Effective Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement DateEffective Date and subsequent to the Effective Date becomes a MERS Mortgage Loan), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Each of the Owner and the Servicer shall maintain in good standing its membership in MERS. In addition, Each of the Owner and the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer Owner and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.