Recharacterization. The Parties intend the conveyance by the Seller to the Trustee of all of its right, title and interest in and to the Mortgage Loans pursuant to this Agreement to constitute a purchase and sale and not a loan. Notwithstanding the foregoing, to the extent that such conveyance is held not to constitute a sale under applicable law, it is intended that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Trustee a first priority security interest in all of the Seller's right, title and interest in and to the Mortgage Loans.
Appears in 183 contracts
Samples: Pooling and Servicing Agreement (Norwest Integrated Structured Assets Inc Series 2000-1 Trust), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mort Pass THR Cert Ser 2001-12), Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Pass THR Cert Ser 1998-34 Trust)
Recharacterization. The Parties parties hereto intend the conveyance by the Seller to the Trustee Company of all of its right, title and interest in and to the Mortgage Loans pursuant to this Agreement to constitute a purchase and sale and not a loan. Notwithstanding the foregoing, to the extent that such conveyance is held not to constitute a sale under applicable law, it is intended that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Trustee Company a first priority security interest in all of the Seller's right, title and interest in and to the Mortgage Loans.
Appears in 82 contracts
Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-2 Trust), Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-4 Trust), Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-1 Trust)
Recharacterization. The Parties parties to this Agreement intend the conveyance by the Seller to the Trustee Purchaser of all of its right, title and interest in and to the Mortgage Loans pursuant to this Agreement to constitute a purchase and sale and not a loan. Notwithstanding the foregoing, to the extent that such conveyance is held not to constitute a sale under applicable law, it is intended that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Trustee Purchaser a first priority security interest in all of the Seller's right, title and interest in and to the Mortgage Loans.
Appears in 28 contracts
Samples: Mortgage Loan Purchase Agreement (Banc of America Funding Corp), Mortgage Loan Purchase Agreement (Banc of America Funding 2006-2 Trust), Mortgage Loan Purchase Agreement (Banc of America Funding Corp)
Recharacterization. The Parties intend the conveyance by the Seller to the Trustee of all of its right, title and interest in and to the Mortgage Loans pursuant to this Agreement to constitute a purchase and sale and not a loan. Notwithstanding the foregoing, to the extent that such conveyance is held not to constitute a sale under applicable law, it is intended that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Trustee a first priority prior security interest in all of the Seller's right, title and interest in and to the Mortgage Loans.. 105
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Prudential Home Mortgage Securities Company Inc)
Recharacterization. The Parties parties hereto intend the conveyance by the Seller to the Trustee Purchaser of all of its right, title and interest in and to the Mortgage Loans pursuant to this Agreement to constitute a purchase and sale and not a loan. Notwithstanding the foregoing, to the extent that such conveyance is held not to constitute a sale under applicable law, it is intended that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Trustee Purchaser a first priority security interest in all of the Seller's right, title and interest in and to the Mortgage Loans.
Appears in 1 contract
Samples: Loan Purchase Agreement
