Common use of Recognition of Assignee Clause in Contracts

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and, notwithstanding anything herein to the contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement the terms of which are incorporated herein by reference. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively.

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and, notwithstanding anything herein to the contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement the terms of which are incorporated herein by reference. It is the intention of the Assignor, Countrywide, the Servicer PHH Parties and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer PHH Parties and the Assignee and their successors and assigns, respectively.

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner purchaser of the Mortgage Loans and, notwithstanding anything herein or in the Sale Agreement to the contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement Sale Agreement, the terms of which are incorporated herein by reference. It is the intention of the Assignor, Countrywidethe Seller, the Servicer and the Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywidethe Seller, the Servicer and the Assignee and their successors and assigns, respectively.