Common use of Recognition of Purchaser Clause in Contracts

Recognition of Purchaser. From and after the date hereof, both the Assignee and the Seller shall note the transfer of the Specified Mortgage Loans to the Assignee in their respective books and records 2.05-1 and shall recognize the Assignee as the owner of the Specified Mortgage Loans, and Servicer shall service the Specified Mortgage Loans for the benefit of the Assignee pursuant to the Agreement, the terms of which are incorporated herein by reference. It is the intention of the Seller, the Servicer, the Assignee and the Assignor that (a) the Assignee fully enjoy all of the rights and benefits enjoyed by the Assignor under the Agreement as if the Assignee were a party thereto and (b) the Assignment shall be binding upon and inure to the benefit of the Assignee and the Assignor and their successors and assigns.