Common use of Option to Substitute Clause in Contracts

Option to Substitute. 33 ARTICLE IV THE CERTIFICATES..............................................................................34 Section 4.01. The Certificates.................................................................34 Section 4.02. Registration of Transfer and Exchange of Certificates............................35 Section 4.03. Mutilated, Destroyed, Lost or Stolen Certificates................................38 Section 4.04. Persons Deemed Owners............................................................39 Section 4.05. Appointment of Paying Agent and Certificate Registrar; Certificate Account.......39 Section 4.06. Authenticating Agents............................................................40 ARTICLE V ADMINISTRATION AND SERVICING OF MORTGAGE LOANS................................................41 Section 5.01. Servicer to Service Mortgage Loans...............................................41 Section 5.02. Sub-Servicing Agreements Between Servicer and Sub-Servicers; Enforcement of Sub-Servicer's Obligations....................................................42 Section 5.03. Successor Sub-Servicers..........................................................42 Section 5.04. Liability of the Servicer........................................................42 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................42 Section 5.06. Termination of Sub-Servicing Agreement...........................................43 Section 5.07. Collection of Mortgage Loan Payments.............................................43 Section 5.08. Establishment of Collection Account; Deposit in Collection Account...............43 Section 5.09. Permitted Withdrawals from the Collection Account................................44 Section 5.10. Establishment of Escrow Account; Deposits in Escrow Account......................45 Section 5.11. Permitted Withdrawals from Escrow Account........................................45 Section 5.12. Payment of Taxes, Insurance and Other Charges....................................46

Option to Substitute. 33 57 ARTICLE IV THE CERTIFICATES..............................................................................34 ........................................................................................58 Section 4.01. The Certificates.................................................................34 ......................................................................58 Section 4.02. Registration of Transfer and Exchange of Certificates............................35 .................................60 Section 4.03. Mutilated, Destroyed, Lost or Stolen Certificates................................38 .....................................64 Section 4.04. Persons Deemed Owners............................................................39 .................................................................64 Section 4.05. Appointment of Paying Agent and Certificate RegistrarAgent; Certificate Account.......39 ......................................64 Section 4.06. Authenticating Agents............................................................40 .................................................................65 ARTICLE V ADMINISTRATION AND SERVICING OF MORTGAGE LOANS................................................41 ..........................................................66 Section 5.01. Servicer Servicers to Service Mortgage Loans...............................................41 ...................................................66 Section 5.02. Sub-Servicing Agreements Between Servicer Servicers and Sub-Servicers; Enforcement of Sub-Servicer's Obligations....................................................42 .............................................67 Section 5.03. Successor Sub-Servicers..........................................................42 ...............................................................68 Section 5.04. Liability of the Servicer........................................................42 Servicers............................................................68 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................42 ....................................................................68 Section 5.06. Termination of Sub-Servicing Agreement...........................................43 ................................................68 Section 5.07. Collection of Mortgage Loan Payments.............................................43 ..................................................68 Section 5.08. Establishment of Collection AccountAccounts; Deposit in Collection Account...............43 Section 5.09. Permitted Withdrawals from the Collection Account................................44 Section 5.10. Establishment of Escrow Account; Deposits in Escrow Account......................45 Section 5.11. Permitted Withdrawals from Escrow Account........................................45 Section 5.12. Payment of Taxes, Insurance and Other Charges....................................46...................69

Option to Substitute. 33 41 ARTICLE IV THE CERTIFICATES..............................................................................34 .................................................................................................42 Section 4.01. The Certificates.................................................................34 ......................................................................42 Section 4.02. Registration of Transfer and Exchange of Certificates............................35 .................................44 Section 4.03. Mutilated, Destroyed, Lost or Stolen Certificates................................38 .....................................47 Section 4.04. Persons Deemed Owners............................................................39 .................................................................48 Section 4.05. Appointment of Paying Agent and Certificate RegistrarAgent; Certificate Account.......39 ......................................48 Section 4.06. Authenticating Agents............................................................40 .................................................................49 ARTICLE V ADMINISTRATION AND SERVICING OF MORTGAGE LOANS................................................41 ...................................................................50 Section 5.01. Servicer to Service Mortgage Loans...............................................41 ....................................................50 Section 5.02. Sub-Servicing Agreements Between Servicer and Sub-Servicers; Enforcement of Sub-Servicer's Obligations....................................................42 .........................................................51 Section 5.03. Successor Sub-Servicers..........................................................42 ...............................................................51 Section 5.04. Liability of the Servicer........................................................42 .............................................................51 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................42 ....................................................................51 Section 5.06. Termination of Sub-Servicing Agreement...........................................43 ................................................52 Section 5.07. Collection of Mortgage Loan Payments.............................................43 ..................................................52 Section 5.08. Establishment of Collection Account; Deposit in Collection Account...............43 ....................52 Section 5.09. Permitted Withdrawals from the Collection Account................................44 .....................................53 Section 5.10. Establishment of Escrow Account; Deposits in Escrow Account......................45 ...........................54 Section 5.11. Permitted Withdrawals from Escrow Account........................................45 Section 5.12. Payment of Taxes, Insurance and Other Charges....................................46.............................................55

Option to Substitute. 33 40 ARTICLE IV THE CERTIFICATES..............................................................................34 ........................................................................................41 Section 4.01. The Certificates.................................................................34 ......................................................................41 Section 4.02. Registration of Transfer and Exchange of Certificates............................35 .................................43 Section 4.03. Mutilated, Destroyed, Lost or Stolen Certificates................................38 .....................................46 Section 4.04. Persons Deemed Owners............................................................39 .................................................................46 Section 4.05. Appointment of Paying Agent and Certificate RegistrarAgent; Certificate Account.......39 ......................................46 Section 4.06. Authenticating Agents............................................................40 .................................................................47 ARTICLE V ADMINISTRATION AND SERVICING OF MORTGAGE LOANS................................................41 ..........................................................48 Section 5.01. Servicer to Service Mortgage Loans...............................................41 ....................................................48 Section 5.02. Sub-Servicing Agreements Between Servicer and Sub-Servicers; Enforcement of Sub-Servicer's Obligations....................................................42 .............................................49 Section 5.03. Successor Sub-Servicers..........................................................42 ...............................................................49 Section 5.04. Liability of the Servicer........................................................42 .............................................................49 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................42 ....................................................................49 Section 5.06. Termination of Sub-Servicing Agreement...........................................43 ................................................50 Section 5.07. Collection of Mortgage Loan Payments.............................................43 ..................................................50 Section 5.08. Establishment of Collection Account; Deposit in Collection Account...............43 ....................50 Section 5.09. Permitted Withdrawals from the Collection Account................................44 .....................................51 Section 5.10. Establishment of Escrow Account; Deposits in Escrow Account......................45 ...........................52 Section 5.11. Permitted Withdrawals from Escrow Account........................................45 Section 5.12. Payment of Taxes, Insurance and Other Charges....................................46.............................................52

Option to Substitute. 33 42 ARTICLE IV THE CERTIFICATES..............................................................................34 ........................................................................................43 Section 4.01. The Certificates.................................................................34 ......................................................................43 Section 4.02. Registration of Transfer and Exchange of Certificates............................35 .................................45 Section 4.03. Mutilated, Destroyed, Lost or Stolen Certificates................................38 .....................................48 Section 4.04. Persons Deemed Owners............................................................39 .................................................................48 Section 4.05. Appointment of Paying Agent and Certificate RegistrarAgent; Certificate Account.......39 ......................................48 Section 4.06. Authenticating Agents............................................................40 .................................................................49 ARTICLE V ADMINISTRATION AND SERVICING OF MORTGAGE LOANS................................................41 ..........................................................50 Section 5.01. Servicer to Service Mortgage Loans...............................................41 ....................................................50 Section 5.02. Sub-Servicing Agreements Between Servicer and Sub-Servicers; Enforcement of Sub-Servicer's Obligations....................................................42 ............................................................51 Section 5.03. Successor Sub-Servicers..........................................................42 ...............................................................52 Section 5.04. Liability of the Servicer........................................................42 .............................................................52 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................42 ....................................................................52 Section 5.06. Termination of Sub-Servicing Agreement...........................................43 Section 5.07. Collection of Mortgage Loan Payments.............................................43 Section 5.08. Establishment of Collection Account; Deposit in Collection Account...............43 Section 5.09. Permitted Withdrawals from the Collection Account................................44 Section 5.10. Establishment of Escrow Account; Deposits in Escrow Account......................45 Section 5.11. Permitted Withdrawals from Escrow Account........................................45 Section 5.12. Payment of Taxes, Insurance and Other Charges....................................46................................................52