Common use of Possession of Mortgage Files Clause in Contracts

Possession of Mortgage Files. The Originator does hereby sell and contribute, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after the Cut-off Date. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contribute, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after Charges, the Cut-off DateSwap Agreement and the Cap Agreements, but excluding the Servicing Rights. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including Loans and the related Prepayment Charges collected after the Cut-off DateTrust Swap Agreement. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the PurchaserPurchaser and promptly transferred to the Trustee. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately promptly to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after and the Cut-off DateSeller's rights under the PMI Policy. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Subsequent Mortgage Loans, including the related Prepayment Charges collected after the Cut-off DateCharges. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Subsequent Transfer Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Subsequent Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Subsequent Transfer Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including Loans and the related Prepayment Charges collected after the Cut-off DateYield Maintenance Agreement. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the PurchaserPurchaser and promptly transferred to the Trustee. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately promptly to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contribute, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Subsequent Mortgage Loans, including the related Prepayment Charges collected after the Cut-off DateCharges. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Subsequent Transfer Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Subsequent Mortgage Loans the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Subsequent Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Subsequent Transfer Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contribute, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after on the Cut-off DateMortgage Loans. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date and not listed as a defect on Schedule A attached hereto are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser. 1 Please contact the Mortgage Loan Seller for this information.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including Loans [and the related Prepayment Charges collected after the Cut-off DateTrust Swap Agreement]. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the PurchaserPurchaser and promptly transferred to the Trustee. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately promptly to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under Subsequent the Mortgage Loans, including the related Prepayment Charges collected after the Cut-off DateCharges. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Subsequent Transfer Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Subsequent Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Subsequent Transfer Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contribute, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after Charges, the Cut-off DateSwap Agreements and the Interest Rate Floor Agreement, but excluding the Servicing Rights. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell sell, and contribute---------------------------- in connection therewith hereby assigns, transfer, assign, set over and convey to the Purchaser, effective as of the Closing Date, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after the Cut-off DateCharges. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including Loans and the related Prepayment Charges collected after the Cut-off DateYield Maintenance Agreements. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the PurchaserPurchaser and promptly transferred to the Trustee. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately promptly to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contribute, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Initial Mortgage Loans, including the related Prepayment Charges collected after the Cut-Cut- off Date. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Initial Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Initial Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell sell, and contribute, transfer, assign, set over and convey in connection therewith hereby assigns to the Purchaser, effective as of the Closing Date, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after and the Cut-off DateCap Contracts. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell and contributesell, transfer, assign, set over and convey to the Purchaser, without recourse recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after the Cut-off DateConveyed Assets. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the PurchaserPurchaser and promptly transferred to the Trustee. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately promptly to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell sell, and contribute, transfer, assign, set over and convey in connection therewith hereby assigns to the Purchaser, effective as of the Closing Date, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after and the Cut-off DateCap Contract. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

Possession of Mortgage Files. The Originator Seller does hereby sell sell, and contribute, transfer, assign, set over and convey in connection therewith hereby assigns to the Purchaser, effective as of the Closing Date, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans, including the related Prepayment Charges collected after the Cut-off DateCharges. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Originator Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale and contribution of the Mortgage Loans Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser Purch aser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Originator Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.