Common use of Reassignment of Repurchased or Substituted Loans Clause in Contracts

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Trustee for deposit in the Principal and Interest Account of the amounts described in Section 6.01, (or upon the Cut-Off Date related to a Substitute Loan described in Section 6.01), and upon receipt of an Officer’s Certificate of the Servicer in the form attached as Exhibit F to the Sale and Servicing Agreement, the Trustee shall assign to the Trust Depositor and the Trust Depositor shall assign to the Originator all of the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances or otherwise be deemed a part of the Collateral.

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Trustee for deposit in the Principal and Interest Account of the any amounts described in Section 6.01, 11.01 (or upon the Cut-Off Date related to a Substitute Loan in the case of a contemporaneous substitution described in Section 6.0111.01), and upon receipt of an Officer’s a Loan Asset Certificate of the Servicer in the form attached hereto as Exhibit F to the Sale and Servicing AgreementF, the Trustee shall assign to the Trust Depositor and the Trust Depositor shall assign to the Originator all of the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the CollateralIssuer.

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee for deposit in the Principal and Interest Account of the amounts described in Section 6.01, 11.01 (or upon the Cut-Off Date related to a Substitute Loan described in Section 6.0111.01), and upon receipt of an Officer’s Certificate of the Servicer in the form attached hereto as Exhibit F to the Sale and Servicing AgreementF, the Indenture Trustee shall assign to the Trust Depositor and the Trust Depositor shall assign to the Originator all of the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the CollateralIssuer.