Common use of Recordation of Assignments of Mortgage Clause in Contracts

Recordation of Assignments of Mortgage. (a) The Seller need not cause to be recorded any assignment which relates to a Mortgage Loan in any jurisdiction; provided, however, each assignment of Mortgage shall be submitted for recording by the Seller, at no expense to the Issuing Entity or Trustee, upon the earliest to occur of (i) reasonable direction by the Holders of Certificates evidencing, in the aggregate, not less than 25% of the Voting Rights, (ii) the occurrence of an Event of Default with respect to the Master Servicer (upon instruction of the Seller), (iii) the occurrence of a bankruptcy, insolvency or foreclosure relating to the Seller or (iv) with respect to any one assignment of Mortgage, the occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgagor under the related Mortgage. While each such Mortgage or assignment is being recorded, if necessary, the Seller shall leave or cause to be left with the Trustee a certified copy of such Mortgage or assignment. All customary recording fees and reasonable expenses relating to the recordation of the assignments of Mortgage to the Trustee shall be borne by the Seller.

Recordation of Assignments of Mortgage. (a) The Seller need not cause to be recorded any assignment which relates to a Mortgage Loan in any jurisdiction; provided, however, each assignment of Mortgage shall be submitted for recording by the Seller, at no expense to the Issuing Entity or Trustee, upon the earliest to occur of (i) reasonable direction by the Holders of Certificates evidencing, in the aggregate, not less than 25% of the Voting Rights, (ii) the occurrence of an Event of Default with respect to the Master Servicer (upon instruction of the Seller), (iii) the occurrence of a bankruptcy, insolvency or foreclosure relating to the Seller or (iv) with respect to any one assignment of Mortgage, the occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgagor under the related Mortgage. While each such Mortgage or assignment is being recorded, if necessary, the Seller shall leave or cause to be left with the Trustee a certified copy of such Mortgage or assignment. All customary recording fees and reasonable expenses relating to the recordation of the assignments of Mortgage mortgage to the Trustee shall be borne by the Seller.