Common use of Possession of Mortgage Loan Documents Clause in Contracts

Possession of Mortgage Loan Documents. On and after the Closing Date, the Primary Servicer shall hold such Mortgage Loan Documents as are in the possession of the Primary Servicer in trust, on behalf of the Master Servicer for the benefit of the Trustee and the Certificateholders. The Primary Servicer's possession of any portion of the Mortgage Loan Documents shall be at the will of the Master Servicer and the Trustee for the sole purpose of facilitating the servicing or the supervision of servicing of the Mortgage Loan pursuant to this Agreement, and such retention and possession by the Primary Servicer shall be in a custodial capacity only. Upon request, the Primary Servicer shall reasonably promptly forward to the Master Servicer copies of such documents then in the possession of the Primary Servicer if not part of the Mortgage File forwarded to the Trustee. Notwithstanding the foregoing, the Primary Servicer shall be entitled to retain in its possession at all times a photocopy of each of the Mortgage Loan Documents with respect to the Mortgage Loans. Any portion of the Mortgage Loan Documents retained by the Primary Servicer shall be identified to reflect clearly the ownership of the Mortgage Loan by the Trustee, on behalf of the Certificateholders. The Primary Servicer shall release from its custody any Mortgage Loan Documents retained by it only in accordance with this Agreement and the Pooling and Servicing Agreement. For the avoidance of doubt, none of the foregoing provisions of this Section 2.02 shall limit any obligation the Primary Servicer may have, in its capacity as Pooled Mortgage Loan Seller, to deliver the Mortgage Loan Documents related to any Mortgage Loan to the Trustee as required by the Nationwide Pooled Mortgage Loan Purchase Agreement.

Possession of Mortgage Loan Documents. On and after the Closing Date, the Primary Sub-Servicer shall hold such any portion of the Mortgage File as is in the possession of the Sub-Servicer and any portion of the documents (other than documents required to be part of the related Mortgage File) that relate to the origination and servicing of any Mortgage Loan Documents and reasonably necessary for the ongoing administration and/or servicing of the Mortgage Loans (such documents, the "Servicer Mortgage File") as are in the possession of the Primary Sub-Servicer in trust, on behalf of the Master Servicer for the benefit of the Trustee and the Certificateholders. The Primary Sub-Servicer's possession of any portion of the Mortgage Loan Documents File or Servicer Mortgage File shall be at the will of the Master Servicer and the Trustee for the sole purpose of facilitating the servicing or the supervision of servicing of the Mortgage Loan Loans pursuant to this Agreement, and such retention and possession by the Primary Sub-Servicer shall be in a custodial capacity only. Upon written request, the Primary Sub-Servicer shall reasonably promptly forward to the Master Servicer copies of such documents then in the possession of the Primary Servicer if not part of the Mortgage File forwarded to the TrusteeSub-Servicer. Notwithstanding the foregoing, the Primary Sub-Servicer shall be entitled to retain in its possession at all times a photocopy of each of the Mortgage Loan Documents File documents with respect to the Mortgage Loans. Any portion of the Mortgage Loan Documents File or Servicer Mortgage File retained by the Primary Sub-Servicer shall be segregated from all assets of the Sub-Servicer and shall be identified to reflect clearly the ownership of the Mortgage Loan Loans by the Trustee, on behalf of the Certificateholders, and by the Companion Holders. The Primary Sub-Servicer shall release from its custody any portion of the Mortgage Loan Documents retained by it File or Servicer Mortgage File only in accordance with this Agreement and the Pooling and Servicing Agreement. For the avoidance of doubt, none of the foregoing provisions of this Section 2.02 shall limit any obligation the Primary Servicer may have, in its capacity as Pooled Mortgage Loan Seller, to deliver the Mortgage Loan Documents related to any Mortgage Loan to the Trustee as required by the Nationwide Pooled Mortgage Loan Purchase AgreementPSA.

Possession of Mortgage Loan Documents. On From and after the Closing Datedate of this Assignment, the Primary Servicer Bank shall no longer hold such Mortgage Loan Documents as are in the possession of the Primary Servicer in trust, on behalf of the Master Servicer for the benefit of the Trustee and the Certificateholders. The Primary Servicer's possession of any portion duly executed originals of the Mortgage Loan Documents on its own behalf or as custodian for Assignor, but shall be hold the same as custodian for Assignee, pursuant to the terms of (i) the custodial agreement dated as of June 12, 2001 by and between the Bank and Assignee and (ii) the Amended and Restated Servicing Agreement dated as of June 28, 2001 by and between the Bank and Assignee. Further Assurances. ------------------ Assignor agrees that at any time and from time to time, at the expense of Assignor, Assignor will of the Master Servicer promptly execute and the Trustee for the sole purpose of facilitating the servicing or the supervision of servicing of the Mortgage Loan pursuant to this Agreementdeliver all further instruments and documents, and such retention and possession by the Primary Servicer shall take all further action, that may be in a custodial capacity only. Upon necessary or desirable, or that Assignee may reasonably request, to effectuate the Primary Servicer shall reasonably promptly forward to the Master Servicer copies of such documents then in the possession of the Primary Servicer if not part of the Mortgage File forwarded to the Trustee. Notwithstanding the foregoing, the Primary Servicer shall be entitled to retain in its possession at all times a photocopy of each of the Mortgage Loan Documents with respect to the Mortgage Loans. Any portion of the Mortgage Loan Documents retained by the Primary Servicer shall be identified to reflect clearly the ownership of the Mortgage Loan by the Trustee, on behalf of the Certificateholders. The Primary Servicer shall release from its custody any Mortgage Loan Documents retained by it only in accordance with this Agreement and the Pooling and Servicing Agreement. For the avoidance of doubt, none of the foregoing purpose or provisions of this Section 2.02 shall limit Assignment or to confirm or perfect any obligation the Primary Servicer may have, in transaction described or contemplated herein or to enable Assignee or its capacity as Pooled Mortgage Loan Seller, agents to deliver the Mortgage Loan Documents related exercise and enforce its rights and remedies hereunder with respect to any Mortgage Loan Document. Assignor and Assignee agree that Assignor shall reasonably cooperate (i) in preparing, executing, delivering or having prepared, delivered and executed by December 1, 2001 such documents or instruments which are necessary or desirable to register legal title to each Mortgage Loan in the Trustee name of Assignee in the appropriate land registry or other office of public record, and (ii) in registering legal title to each Mortgage Loan in the name of Assignee in the event the credit rating of the Bank (or such other agent as required may hold the Mortgage Loans on behalf of Assignee) will fall below either "BBB-" by Standard & Poor's Rating Services or "Baa" by Moody's Investor Service, Inc. Assignor hereby authorizes Assigxxx xx its agents to file and record one or more financing or continuation statements and amendments thereto, relative to all or any part of the Loan Documents without the signature of Assignor where permitted by the Nationwide Pooled Mortgage Loan Purchase Agreementlaw.

Possession of Mortgage Loan Documents. On and after the Closing Date, the Primary Servicer shall hold such Mortgage Loan Documents as are in the possession of the Primary Servicer in trust, on behalf of the Master Servicer for the benefit of the Trustee and the Certificateholders. The Primary Servicer's possession of any portion of the Mortgage Loan Documents shall be at the will of the Master Servicer and the Trustee for the sole purpose of facilitating the servicing or the supervision of servicing of the Mortgage Loan pursuant to this Agreement, and such retention and possession by the Primary Servicer shall be in a custodial capacity only. Upon request, the Primary Servicer shall reasonably promptly forward to the Master Servicer copies of such documents then in the possession of the Primary Servicer if not part of the Mortgage File forwarded to the Trustee. Notwithstanding the foregoing, the Primary Servicer shall be entitled to retain in its possession at all times a photocopy of each of the Mortgage Loan Documents with respect to the Mortgage Loans. Any portion of the Mortgage Loan Documents retained by the Primary Servicer shall be identified to reflect clearly the ownership of the Mortgage Loan by the Trustee, on behalf of the Certificateholders. The Primary Servicer shall release from its custody any Mortgage Loan Documents retained by it only in accordance with this Agreement and the Pooling and Servicing Agreement. For the avoidance of doubt, none of the foregoing provisions of this Section 2.02 shall limit any obligation the Primary Servicer may have, in its capacity as Pooled Mortgage Loan Seller, to deliver the Mortgage Loan Documents related to any Mortgage Loan to the Trustee as required by the Nationwide Pooled Mortgage Loan Purchase AgreementAgreement VII.

Possession of Mortgage Loan Documents. On and after the Closing Date, the Primary Servicer shall hold such any portion of the Mortgage Loan Documents File as are is in the possession of the Primary Servicer (and not required to be delivered to the Trustee) and any portion of the Servicer Mortgage File as is in the possession of the Primary Servicer in trust, on behalf of the Master Servicer for the benefit of the Trustee and the CertificateholdersCertificateholders and the Companion Holders. The Primary Servicer's possession of any portion of the Mortgage Loan Documents File or Servicer Mortgage File shall be at the will of the Master Servicer and the Trustee for the sole purpose of facilitating the primary servicing or the supervision of primary servicing of the Mortgage Loan Loans pursuant to this Agreement, and such retention and possession by the Primary Servicer shall be in a custodial capacity only. Upon written request, the Primary Servicer shall reasonably promptly forward to the Master Servicer copies of such documents then in the possession of the Primary Servicer if not part of the Mortgage File forwarded to the Trustee. Notwithstanding the foregoing, the Primary Servicer shall be entitled to retain in its possession at all times a photocopy of each of the Mortgage Loan Documents with respect to the Mortgage LoansServicer. Any portion of the Mortgage Loan Documents File or Servicer Mortgage File retained by the Primary Servicer shall be segregated from all assets of the Primary Servicer and shall be identified to reflect clearly the ownership of the Mortgage Loan Loans by the Trustee, on behalf of the Certificateholders, and the Companion Holders. The Primary Servicer shall release from its custody any portion of the Mortgage Loan Documents retained by it File or Servicer Mortgage File only in accordance with this Agreement and the Pooling and Servicing Agreement. For the avoidance of doubt, none of the foregoing provisions of this Section 2.02 shall limit any obligation the Primary Servicer may have, in its capacity as Pooled Mortgage Loan Seller, to deliver the Mortgage Loan Documents related to any Mortgage Loan to the Trustee as required by the Nationwide Pooled Mortgage Loan Purchase Agreement.

Possession of Mortgage Loan Documents. On and after the Closing Date, the Primary Servicer shall hold such Mortgage Loan Documents as are in the possession of the Primary Servicer in trust, on behalf of the Master Servicer for the benefit of the Trustee and the Certificateholders. The Primary Servicer's ’s possession of any portion of the Mortgage Loan Documents shall be at the will of the Master Servicer and the Trustee for the sole purpose of facilitating the servicing or the supervision of servicing of the Mortgage Loan pursuant to this Agreement, and such retention and possession by the Primary Servicer shall be in a custodial capacity only. Upon request, the Primary Servicer shall reasonably promptly forward to the Master Servicer copies of such documents then in the possession of the Primary Servicer if not part of the Mortgage File forwarded to the Trustee. Notwithstanding the foregoing, the Primary Servicer shall be entitled to retain in its possession at all times a photocopy of each of the Mortgage Loan Documents with respect to the Mortgage Loans. Any portion of the Mortgage Loan Documents retained by the Primary Servicer shall be identified to reflect clearly the ownership of the Mortgage Loan by the Trustee, on behalf of the Certificateholders. The Primary Servicer shall release from its custody any Mortgage Loan Documents retained by it only in accordance with this Agreement and the Pooling and Servicing Agreement. For the avoidance of doubt, none of the foregoing provisions of this Section 2.02 shall limit any obligation the Primary Servicer may have, in its capacity as Pooled Mortgage Loan Seller, to deliver the Mortgage Loan Documents related to any Mortgage Loan to the Trustee as required by the Nationwide Pooled Mortgage Loan Purchase Agreement.