Common use of Reassignment of Purchased Mortgage Loans Clause in Contracts

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller under Section 3.05 hereof, the Depositor and the Trustee shall take such steps as may be reasonably requested by the Unaffiliated Seller in order to assign to the Unaffiliated Seller all of the Depositor's and the Trust Fund's right, title and interest in and to such Mortgage Loan and all security and documents and all Other Conveyed Property conveyed to the Depositor and the Trust Fund directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of the Depositor or the Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor and the Trustee shall, at the expense of the Unaffiliated Seller, take such steps as the Unaffiliated Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in the Depositor's or the Trustee's name or the names of the Certificateholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 3.05 5.1 hereof, the Depositor Servicer and the Trustee shall take such steps as may be reasonably requested by the Unaffiliated Seller in order to assign to the Unaffiliated Seller all of Purchaser's, the Depositor's and the Trust FundTrustee's right, title and interest in and to such repurchased Mortgage Loan or Mortgage Loan for which substitution was made and all security and documents and all Other Conveyed Property conveyed to Purchaser, the Depositor and the Trust Fund Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens liens, charges or encumbrances created by or arising as a result of actions of Purchaser, the Depositor or the Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Servicer and the Trustee shall, at the expense of the Unaffiliated Seller, take such steps as the Unaffiliated Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in the DepositorPurchaser's or the Trustee's name or the names of the Certificateholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 3.05 5.1 hereof, the Depositor Servicer the Depositor, the Trust and the Trustee Indenture Trustee, shall take such steps as may be reasonably requested by the Unaffiliated Seller in order to assign to the Unaffiliated Seller all of Purchaser's, the Trust's, the Depositor's 's, and the Trust FundIndenture Trustee's right, title and interest in and to such repurchased Mortgage Loan or Mortgage Loan for which substitution was made and all security and documents and all Other Conveyed Property conveyed or pledged, as the case may be, to Purchaser, the Depositor Depositor, Trust and the Trust Fund Indenture Trustee, directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens liens, charges or encumbrances created by or arising as a result of actions of Purchaser, the Depositor Depositor, the Trust or the Indenture Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Servicer, the Trust and the Trustee Indenture Trustee, shall, at the expense of the Unaffiliated Seller, take such steps as the Unaffiliated Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaser's, the DepositorTrust's or the Indentured Trustee's name or the names of the CertificateholdersNoteholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller Sponsor under Section 3.05 hereof, the Depositor and the Indenture Trustee shall take such steps as may be reasonably requested by the Unaffiliated Seller Sponsor in order to assign to the Unaffiliated Seller Sponsor or its designee all of the Depositor's and the Trust FundTrust's and the Indenture Trustee's right, title and interest in and to such Mortgage Loan and all security and documents and all Other Conveyed Property conveyed to the Depositor Depositor, the Trust and the Trust Fund Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of the Depositor or the Indenture Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller Sponsor may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Depositor, the Trust and the Indenture Trustee shall, at the expense of the Unaffiliated SellerSponsor, take such steps as the Unaffiliated Seller Sponsor deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in the Depositor's, the Trust's or the TrusteeTrust's name or the names of the CertificateholdersNoteholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 3.05 5.1 hereof, the Depositor Servicer and the Trustee Trustee, or the Trust Administrator on behalf of the Trustee, shall take such steps as may be reasonably requested by the Unaffiliated Seller in order to assign to the Unaffiliated Seller all of Purchaser's, the Depositor's, the Trustee's and the Trust FundAdministrator's right, title and interest in and to such repurchased Mortgage Loan or Mortgage Loan for which substitution was made and all security and documents and all Other Conveyed Property conveyed to Purchaser, the Depositor and the Trustee, or the Trust Fund Administrator on behalf of the Trustee, directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens liens, charges or encumbrances created by or arising as a result of actions of Purchaser, the Depositor Depositor, the Trustee or the TrusteeTrust Administrator. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Servicer and the Trustee Trustee, or the Trust Administrator on behalf of the Trustee, shall, at the expense of the Unaffiliated Seller, take such steps as the Unaffiliated Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaser's, the DepositorTrustee's or the TrusteeTrust Administrator's name or the names of the Certificateholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased purchased by the Unaffiliated Seller Originator or the substitution of a Qualified Substitute Mortgage Loan under Section 3.05 5.1 hereof, the Depositor Servicer, the Depositor, the Trust and the Indenture Trustee shall take such steps as may be reasonably requested by the Unaffiliated Seller Originator in order to assign to the Unaffiliated Seller Originator or its designee all of Company's, the Sponsor's, the Trust's, the Depositor's, the Trust's and the Trust FundIndenture Trustee's right, title and interest in and to such purchased Mortgage Loan or Mortgage Loan for which substitution was made and all security and documents and all Other Conveyed Property contributed, conveyed or pledged, as the case may be, to Company, the Depositor Sponsor, the Depositor, the Trust and the Trust Fund Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens liens, charges or encumbrances created by or arising as a result of actions of Company, the Depositor Sponsor, the Depositor, the Trust, or the Indenture Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller Originator may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Servicer, the Trust and the Indenture Trustee shall, at the expense of the Unaffiliated SellerOriginator, take such steps as the Unaffiliated Seller Originator deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Company's, the DepositorSponsor's, the Trust's or the Indenture Trustee's name or the names of the CertificateholdersNoteholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller under Section 3.05 hereof, the Depositor and the Trustee Indenture Trustee, shall take such steps as may be reasonably requested by the Unaffiliated Seller in order to assign to the Unaffiliated Seller all of the Depositor's and the Trust FundTrust's and the Indenture Trustee's right, title and interest in and to such Mortgage Loan and all security and documents and all Other Conveyed Property conveyed to the Depositor Depositor, the Trust and the Trust Fund Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of the Depositor or the Indenture Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Depositor, the Trust and the Indenture Trustee shall, at the expense of the Unaffiliated Seller, take such steps as the Unaffiliated Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in the Depositor's, the Trust's or the Indenture Trustee's name name, or the names of the CertificateholdersNoteholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased by the Unaffiliated Seller under Section 3.05 hereof, the Depositor and the Trustee Trustee, or the Trust Administrator on behalf of the Trustee, shall take such steps as may be reasonably requested by the Unaffiliated Seller in order to assign to the Unaffiliated Seller all of the Depositor's and the Trust Fund's right, title and interest in and to such Mortgage Loan and all security and documents and all Other Conveyed Property conveyed to the Depositor and the Trust Fund directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of the Depositor Depositor, the Trustee or the TrusteeTrust Administrator. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor and the Trustee Trustee, or the Trust Administrator on behalf of the Trustee, shall, at the expense of the Unaffiliated Seller, take such steps as the Unaffiliated Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in the Depositor's, the Trustee's or the TrusteeTrust Administrator's name or the names of the Certificateholders.

Reassignment of Purchased Mortgage Loans. Upon deposit in the Collection Account of the Purchase Price of any Mortgage Loan repurchased purchased by the Unaffiliated Seller Contributor or the substitution of a Qualified Substitute Mortgage Loan under Section 3.05 5.1 hereof, the Depositor Servicer, the Depositor, the Trust and the Indenture Trustee shall take such steps as may be reasonably requested by the Unaffiliated Seller Contributor in order to assign to the Unaffiliated Seller all Contributor or its designee of the Sponsor's, the Trust's, the Depositor's, the Trust's and the Trust FundIndenture Trustee's right, title and interest in and to such purchased Mortgage Loan or Mortgage Loan for which substitution was made and all security and documents and all Other Conveyed Property contributed, conveyed or pledged, as the case may be, to the Depositor Sponsor, the Depositor, the Trust and the Trust Fund Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens liens, charges or encumbrances created by or arising as a result of actions of the Depositor Sponsor, the Depositor, the Trust, or the Indenture Trustee. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the Unaffiliated Seller Contributor may not enforce any such Mortgage Loan on the ground that it shall not be a real party in interest or a holder entitled to enforce the Mortgage Loan, the Depositor Servicer, the Trust and the Indenture Trustee shall, at the expense of the Unaffiliated SellerContributor, take such steps as the Unaffiliated Seller Contributor deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in the DepositorSponsor's, the Trust's or the Indenture Trustee's name or the names of the CertificateholdersNoteholders.