Common use of Possession of Transferred Mortgage Loan Files Clause in Contracts

Possession of Transferred Mortgage Loan Files. The Special Servicer shall maintain a Servicing File with respect to each Transferred Mortgage Loan in order to service such Transferred Mortgage Loans pursuant to this Agreement and each Servicing File delivered to the Special Servicer shall be held in trust by the Special Servicer for the benefit of the Trustee; provided, however, that the Special Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the related Prior Servicer. The Special Servicer’s possession of any portion of the Transferred Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Transferred Mortgage Loan pursuant to this Agreement, and such retention and possession by the Special Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Transferred Mortgage Loan prepared by or which come into the possession of the Special Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Special Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Special Servicer pursuant to this Agreement shall be segregated from the other books and records of the Special Servicer and shall be appropriately marked to clearly reflect the ownership of the related Transferred Mortgage Loan by the Trustee. The Special Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.