Common use of Recognition of Assignee Clause in Contracts

Recognition of Assignee. From and after the date hereof or until the Assignee no longer owns the Mortgage Loans, 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 and Assignee that the Sale Agreement shall be binding upon and inure to the benefit of Countrywide and the Assignee and their successors and assigns.

Recognition of Assignee. From and after the date hereof or until the Assignee no longer owns the Mortgage Loanshereof, 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 or in the Servicing Agreements to the contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the applicable Servicing Agreement the terms of which are incorporated herein by reference. It is the intention of the Assignor, Countrywide Countrywide, the Servicer and Assignee that the Sale Agreement Agreements and the Servicing Agreements shall be binding upon and inure to the benefit of Countrywide Countrywide, the Servicer and the Assignee and their successors and assigns, respectively.