Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the receipt by the Depositor, or its designee, of the purchase price for the Initial Mortgage Loans set forth in Section 2.03 hereof and the issuance of the Notes pursuant to the Indenture, the ownership of each Mortgage Note, each Mortgage and the contents of the Mortgage File related to each Initial Mortgage Loan will be vested in the Trust, and will be pledged to the Indenture Trustee, for the benefit of the Noteholders and the Note Insurer.
(b) Pursuant to Section 2.05 hereof and Section 2.05 of the Unaffiliated Seller's Agreement, the Unaffiliated Seller has delivered or caused to be delivered the Indenture Trustee's Mortgage File related to each Initial Mortgage Loan to the Collateral Agent, on behalf of the Indenture Trustee.
(c) The Collateral Agent will be the custodian, on behalf of the Indenture Trustee, to hold the Indenture Trustee's Mortgage Files in trust for the benefit of all present and future Noteholders and the Note Insurer. In the event the Collateral Agent resigns or is removed, the Indenture Trustee shall either (x) hold the Indenture Trustee's Mortgage Files, or (y) appoint a successor Collateral Agent to hold the Indenture Trustee's Mortgage Files as set forth in Section 9.08 hereof.
(d) The Collateral Agent shall afford the Depositor, the Trust, the Note Insurer and the Servicer reasonable access to all records and documentation regarding the Mortgage Loans relating to this Agreement, such access being afforded at customary charges, upon reasonable prior written request and during normal business hours at the offices of the Collateral Agent.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File related to each Mortgage Loan is vested in the Trustee for the benefit of the Certificateholders.
(b) Pursuant to Section 2.05 of the Unaffiliated Seller's Agreement, the Depositor has delivered or caused to be delivered the Trustee's Mortgage File related to each Mortgage Loan to the Trustee.
(c) The Collateral Agent, on behalf of the Trustee, will be the custodian or may, with the consent of the Servicer, enter into a custodial agreement pursuant to which the Trustee will appoint a custodian to hold the Mortgage Files in trust for the benefit of all present and future Certificateholders; provided, however, that the custodian so appointed shall satisfy the eligibility requirements for the Collateral Agent as described in Section 10.06 hereof, shall in no event be the Depositor or the Servicer or any Person known to a Responsible Officer of the Trustee to be an Affiliate of the Depositor or the Servicer and shall be approved by the Servicer.
(d) The Collateral Agent shall afford the Depositor, the Servicer and the Back-up Servicer reasonable access to all records and documentation regarding the Mortgage Loans relating to this Agreement, such access being afforded upon reasonable request and during normal business hours at the offices of the Collateral Agent at customary charges.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates and any Additional Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File related to each Mortgage Loan is vested in the Trustee for the benefit of the Certificateholders and the Additional Certificateholders and the Certificate Insurer, as their respective interests may, from time to time, appear.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File related to each Mortgage Loan shall be vested in the Trustee for the benefit of the Certificateholders [and the Certificate Insurer, as their respective interests may appear].
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the Mortgage File related to each Initial Mortgage Loan is vested in the Trustee for the benefit of the Certificateholders and the Certificate Insurer.
(b) Pursuant to Section 2.04 of the Purchase Agreement, the Company has delivered or caused to be delivered the Mortgage File related to each Initial Mortgage Loan to the Trustee.
(c) The Trustee may enter into a custodial agreement pursuant to which the Trustee will appoint a custodian (a "Custodian") to hold the Mortgage Files in trust for the benefit of all present and future Certificateholders and the Certificate Insurer; provided, however, that the custodian so appointed shall in no event be the Company or the Master Servicer or any Person known to a Responsible Officer of the Trustee to be an Affiliate of the Company or the Master Servicer. The Trustee hereby appoints Norwest Bank Minnesota, N.A. as the initial Custodian.
(d) The Custodian shall afford the Company, the Certificate Insurer and the Master Servicer reasonable access to all records and documentation regarding the Mortgage Loans relating to this Agreement, such access being afforded at customary charges, upon reasonable request and during normal business hours at the offices of the Custodian.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File related to each Initial Mortgage Loan is vested, and on each Subsequent Transfer Date, if any, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File related to each Subsequent Mortgage Loan will be vested in the Trustee for the benefit of the Certificateholders and the Certificate Insurer.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File related to each Initial Mortgage Loan is, and upon delivery of each Subsequent Mortgage Loan, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File relating to such Subsequent Mortgage Loan will be, vested in the Trustee for the benefit of the Certificateholders and the Certificate Insurer.
Possession of Mortgage Files; Access to Mortgage Files. (a) (a) Upon the receipt by the Depositor, or its designee, of the Originator Purchase Price for the Initial Mortgage Loans set forth in Section 2.01 hereof and the issuance of the Note pursuant to the Indenture, the ownership of each Mortgage Note, including principal due and interest accrued thereon after the Initial Closing Date, each Mortgage and the contents of the Mortgage File related to each Initial Mortgage Loan and all the other Initial Originator Conveyed Assets will be vested in the Trust, and will be pledged to the Indenture Trustee, for the benefit of the Noteholder and the Note Insurer.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the Mortgage File related to each Mortgage Loan is vested in the Trustee for the benefit of the Certificateholders [and the Certificate Insurer].
(b) The Depositor has delivered or caused to be delivered the Mortgage File related to each Mortgage Loan to the Trustee or the Custodian on behalf of the Trustee.
(c) As provided in Section 9.11, the Trustee may [, with the prior written consent of the Certificate Insurer,] enter into a custodial agreement pursuant to which the Trustee will appoint a custodian (a "Custodian") to hold the Mortgage Files in trust for the benefit of all present and future Certificateholders [and the Certificate Insurer]; PROVIDED, HOWEVER, that the Custodian so appointed shall in no event be the Depositor or the Servicer or any Person known to a Responsible Officer of the Trustee to be an Affiliate of the Depositor or the Servicer.
(d) The Trustee shall cause the Custodian to afford the Depositor and the Servicer reasonable access to all records and documentation regarding the Mortgage Loans relating to this Agreement, such access being afforded at customary charges, upon reasonable prior notice and during normal business hours at the offices of the Custodian.
Possession of Mortgage Files; Access to Mortgage Files. (a) Upon the issuance of the Certificates, the ownership of each Mortgage Note, the Mortgage and the contents of the Mortgage File related to each Mortgage Loan is vested in the Trustee for the benefit of the Certificateholders and the Certificate Insurer.
(b) Pursuant to paragraph 2 of the Purchase Agreement, the Company has delivered or caused to be delivered the Mortgage File related to each Mortgage Loan to the Servicer.
(c) The Trustee hereby appoints the Servicer as custodian to hold the documents specified in Section 2.04(a) in trust for the benefit of all present and future Certificateholders and the Certificate Insurer.
