Common use of Possession of Servicing Files Clause in Contracts

Possession of Servicing Files. The contents of each Servicing File are and shall be held in trust by the Servicer for the benefit of the Purchaser as the owner thereof. The Servicer shall maintain in the Servicing File a copy of the contents of each Mortgage File and the originals of the documents in each Mortgage File not delivered to the Purchaser. The possession of the Servicing File by the Servicer is at the will of the Purchaser for the sole purpose of servicing the related Mortgage Loan, pursuant to this Agreement, and such retention and possession by the Servicer is in its capacity as Servicer only and at the election of the Purchaser. The Servicer shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Purchaser or other termination of the Servicer with respect to the related Mortgage Loans, unless such release is required as incidental to the Servicer's servicing of the Mortgage Loans pursuant to this Agreement, or is in connection with a repurchase of any Mortgage Loan pursuant to Section 8.03 of the Purchase Agreement or Section 4.02

Possession of Servicing Files. The contents of each Servicing File are and shall be held in trust by the Servicer Seller for the benefit of the Purchaser as the owner thereof. The Servicer Seller shall maintain in the Servicing File a copy of the contents of each Mortgage File and the originals of the documents in each Mortgage File not delivered to the Purchaser. The possession of the Servicing File by the Servicer Seller is at the will of the Purchaser for the sole purpose of servicing the related Mortgage Loan, pursuant to this Agreement, and such retention and possession by the Servicer Seller is in its capacity as Servicer servicer only and at the election of the Purchaser. The Servicer Seller shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Purchaser or other termination of the Servicer Seller with respect to the related Mortgage Loans, unless such release is required as incidental to the ServicerSeller's servicing of the Mortgage Loans pursuant to this Agreement, or is in connection with a repurchase of any Mortgage Loan pursuant to Section 8.03 8.3 of the Purchase Agreement or Section 4.02

Possession of Servicing Files. The contents of each Servicing File are and shall be held in trust by the Servicer Seller for the benefit of the Purchaser as the owner thereof. The Servicer Seller shall maintain in the Servicing File a copy of the contents of each Mortgage File and the originals of the documents in each Mortgage File not delivered to the Purchaser. The possession of the Servicing File by the Servicer Seller is at the will of the Purchaser for the sole purpose of servicing the related Mortgage Loan, pursuant to this Agreement, and such retention and possession by the Servicer Seller is in its capacity as Servicer Seller only and at the election of the Purchaser. The Servicer Seller shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Purchaser or other termination of the Servicer Seller with respect to the related Mortgage Loans, unless such release is required as incidental to the ServicerSeller's servicing of the Mortgage Loans pursuant to this Agreement, or is in connection with a repurchase of any Mortgage Loan pursuant to Section 8.03 of the Purchase Agreement or Section 4.02