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 Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 5.1 hereof, the Servicer and the Trustee shall take such steps as may be reasonably requested by the Seller in order to assign to the Seller all of Purchaser's, the Depositor's and the 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 to Purchaser, the Depositor and the Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of 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 Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the 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 Servicer and the Trustee shall, at the expense of the Seller, take such steps as the Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaser'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 5.1 3.05 hereof, the Servicer 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 Purchaser's, the Depositor's and the TrusteeTrust Fund'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 Trust Fund directly relating thereto, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens 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 Servicer 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 Purchaserthe 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 Seller or the substitution of a Qualified Substitute Mortgage Loan Sponsor under Section 5.1 3.05 hereof, the Servicer Depositor and the Indenture Trustee shall take such steps as may be reasonably requested by the Seller Sponsor in order to assign to the Seller Sponsor or its designee all of Purchaser's, the Depositor's and the Trust's and the Indenture 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 to Purchaserthe Depositor, the Depositor Trust and the Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of Purchaser, 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 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 Servicer Depositor, the Trust and the Indenture Trustee shall, at the expense of the SellerSponsor, take such steps as the Seller Sponsor deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaserthe 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 5.1 3.05 hereof, the Servicer 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 Purchaser's, the Depositor's and the TrusteeTrust Fund'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 Trust Fund directly relating thereto, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of Purchaserthe Depositor, the Depositor 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 Servicer 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 Purchaserthe 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 by the Unaffiliated Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 5.1 3.05 hereof, the Servicer 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 Purchaser's, the Depositor's and the Trust's and the Indenture 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 to Purchaserthe Depositor, the Depositor Trust and the Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances Liens created by or arising as a result of actions of Purchaser, 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 Servicer 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 Purchaserthe 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 Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 5.1 hereof, the 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 Seller in order to assign to the Seller all of Purchaser's, the Depositor's, the Trustee's and the TrusteeTrust Administrator'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 Trustee, or the Trust Administrator on behalf of the Trustee, directly relating thereto, without recourse, representation or warranty, except as to the absence of 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 Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the 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 Servicer and the Trustee Trustee, or the Trust Administrator on behalf of the Trustee, shall, at the expense of the Seller, take such steps as the Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaser'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 by the Seller or the substitution of a Qualified Substitute Mortgage Loan under Section 5.1 hereof, the Servicer the Depositor, the Trust and the Trustee Indenture Trustee, shall take such steps as may be reasonably requested by the Seller in order to assign to the Seller all of Purchaser's, the Trust's, the Depositor's 's, and the Indenture 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 Trustee Indenture Trustee, directly relating thereto, without recourse, representation or warranty, except as to the absence of 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 Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the 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 Servicer Servicer, the Trust and the Trustee Indenture Trustee, shall, at the expense of the Seller, take such steps as the Seller deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaser's, the Trust'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 purchased by the Seller Contributor or the substitution of a Qualified Substitute Mortgage Loan under Section 5.1 hereof, the Servicer Servicer, the Depositor, the Trust and the Indenture Trustee shall take such steps as may be reasonably requested by the Seller Contributor in order to assign to the Seller all Contributor or its designee of Purchaserthe Sponsor's, the Trust's, the Depositor's, the Trust's and the Indenture Trustee's right, title and interest in and to such repurchased 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 Purchaserthe Sponsor, the Depositor Depositor, the Trust and the Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances created by or arising as a result of actions of Purchaserthe Sponsor, 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 Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the 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 Servicer Servicer, the Trust and the Indenture Trustee shall, at the expense of the SellerContributor, take such steps as the Seller Contributor deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in Purchaserthe Sponsor'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 purchased by the Seller Originator or the substitution of a Qualified Substitute Mortgage Loan under Section 5.1 hereof, the Servicer Servicer, the Depositor, the Trust and the Indenture Trustee shall take such steps as may be reasonably requested by the Seller Originator in order to assign to the Seller Originator or its designee all of PurchaserCompany's, the Sponsor's, the Trust's, the Depositor's, the Trust's and the Indenture Trustee's right, title and interest in and to such repurchased 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 PurchaserCompany, the Depositor Sponsor, the Depositor, the Trust and the Indenture Trustee directly relating thereto, without recourse, representation or warranty, except as to the absence of liens, charges or encumbrances created by or arising as a result of actions of PurchaserCompany, 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 Mortgage Loan, in any enforcement suit or legal proceeding, it is held that the 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 Servicer Servicer, the Trust and the Indenture Trustee shall, at the expense of the SellerOriginator, take such steps as the Seller Originator deems reasonably necessary to enforce the Mortgage Loan, including bringing suit in PurchaserCompany's, the Sponsor's, the Trust's or the Indenture Trustee's name or the names of the CertificateholdersNoteholders.