REDEMPTION OF MORTGAGES. 9.1 Upon receipt of repayment in full of all sums due in relation to Loans in the Covered Bond Portfolio sold by the Seller to the Guarantor secured by a Mortgage and/or other Related Security comprised in the Covered Bond Portfolio, the Servicer shall, and is hereby authorized by the Seller and the Guarantor to, in the name of the Seller or the Guarantor, execute a receipt, discharge or other relevant document releasing the Mortgage at the applicable land registry office, land titles office or similar place of public record in which the related Mortgage is registered and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable to release the relevant conveyancing deeds and documents, if any, which make up the title to such Property and the security for the Loan to the person or persons entitled thereto. The foregoing shall be in addition to any right of the Servicer under Article 10 to grant postponements and partial releases or discharges in respect of any Loan in the Covered Bond Portfolio sold by the Seller to the Guarantor.
9.2 The Servicer undertakes that prior to any actual release by it of the relevant documents as described in Section 9.1 above it will take such steps as would be taken by a Reasonable and Prudent Mortgage Lender to satisfy itself that such documents are being released to the person or persons entitled thereto.
9.3 Following any Enforcement Procedures taken by the Servicer as part of its performance of the Services hereunder, if upon completion of such Enforcement Procedures, an amount in excess of all sums due by the relevant Borrower to the Guarantor in respect of or related to the relevant Loan pursuant to the Mortgage Terms is recovered or received, the Servicer will cause the balance, after discharge of any sums due by the Borrower in respect thereof, to be paid to the person or persons next entitled thereto in accordance with the Mortgage Terms and applicable laws.
REDEMPTION OF MORTGAGES. 9.1 Upon repayment in full of all sums secured by a Mortgage and/or other Related Security comprised in the Portfolio, the Servicer shall, and is hereby authorised by the Mortgages Trustee and the Beneficiaries to execute a receipt or discharge or relevant Land Registry Form DS1 of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable, to implement an Electronic Notification of Discharge to the Land Registry and to release the relevant Title Deeds to the person or persons entitled thereto.
9.2 The Servicer undertakes that prior to any actual release by it of the relevant Title Deeds it will take reasonable and appropriate steps to satisfy itself that the relevant Title Deeds are being released to the person or persons entitled thereto.
9.3 The Servicer shall procure that if, upon completion of the Enforcement Procedures, an amount in excess of all sums due by the relevant Borrower is recovered or received, the balance, after discharge of all sums due by the Borrower, is paid to the person or persons next entitled thereto.
REDEMPTION OF MORTGAGES. 9.1 Upon repayment in full of all sums due in relation to Loans sold by the Seller to the Mortgages Trustee secured by a Mortgage and/or other Related Security comprised in the Portfolio, the Servicer shall (and is hereby authorised by the Mortgages Trustee and the Beneficiaries to) execute a receipt or discharge or relevant Land Registry Form DS1 of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable, to implement an electronic notification of discharge to Land Registry and to release the relevant Title Deeds to the person or persons entitled thereto.
9.2 In relation to Loans which are not Dematerialised Loans the Servicer undertakes that prior to any actual release by it of the relevant Title Deeds it will take reasonable and appropriate steps to satisfy itself that the relevant Title Deeds are being released to the person or persons entitled thereto.
9.3 The Servicer shall procure that if, upon completion of the Enforcement Procedures, an amount in excess of all sums due by the relevant Borrower is recovered or received, the balance, after discharge of all sums due by the Borrower, is paid to the person or persons next entitled thereto.
REDEMPTION OF MORTGAGES. 9.1 Upon repayment in full of all sums secured by a Mortgage and/or other Related Security comprised in the Portfolio, the Servicer shall, and is hereby authorised by the Mortgages Trustee and the Beneficiaries to, execute a receipt or discharge or relevant Land Registry Form DS1 of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable and to release the relevant Title Deeds to the person or persons entitled thereto.
9.2 The Servicer undertakes that prior to any actual release by it of the relevant Title Deeds it will take reasonable and appropriate steps to satisfy itself that the relevant Title Deeds are being released to the person or persons entitled thereto.
9.3 The Servicer shall procure that if, upon completion of the Enforcement Procedures, an amount in excess of all sums due by the relevant Borrower is recovered or received, the balance, after discharge of all sums due by the Borrower, is paid to the person or persons next entitled thereto.
REDEMPTION OF MORTGAGES. 7.1 Upon repayment in full of all sums due in relation to Loans secured by a Mortgage and/or other Related Security comprised in the Portfolio, the Servicer is hereby authorised by the Issuer and the Seller to execute a receipt or discharge or the relevant Land Registry Form DS1 of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable, to implement an Electronic Notification of Discharge to the Land Registry (save in the case of a Mortgage and/or Related Security situated in Scotland where delivery of the executed discharge (in a form compliant with the requirements of the Conveyancing and Feudal Reform (Scotland) Act 1970) to the person or persons entitled thereto will satisfy the Servicer’s obligations hereunder) and to release the relevant Title Information Documents to the person or persons entitled thereto.
7.2 The Servicer undertakes that, prior to any actual release by it of the relevant Title Information Documents relating to unregistered land or land in Scotland it will take reasonable and appropriate steps to satisfy itself that the relevant Title Information Documents are being released to the person or persons entitled thereto.
7.3 The Servicer shall procure that if, upon completion of the Enforcement Procedures, an amount in excess of all sums due by the relevant Borrower under the relevant Loan or its Related Security is recovered or received, the balance, after discharge of all sums due by that Borrower under the relevant Loan or its Related Security, is paid to the relevant Borrower or the person or persons next entitled thereto or, if such person cannot be found, is paid into court.
REDEMPTION OF MORTGAGES. 7.1 Upon repayment in full of all sums due in relation to Loans secured by a Mortgage and/or other Related Security comprised in the Portfolio, the Servicer is hereby authorised by the Issuer and the Seller to execute a receipt or discharge or the relevant Land Registry Form DS1 of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable, to implement an Electronic Notification of Discharge to the Land Registry and to release the relevant Title Information Documents to the person or persons entitled thereto.
7.2 The Servicer undertakes that, prior to any actual release by it of the relevant Title Information Documents relating to unregistered land it will take reasonable and appropriate steps to satisfy itself that the relevant Title Information Documents are being released to the person or persons entitled thereto.
7.3 The Servicer shall procure that if, upon completion of the Enforcement Procedures, an amount in excess of all sums due by the relevant Borrower under the relevant Loan or its Related Security is recovered or received, the balance, after discharge of all sums due by that Borrower under the relevant Loan or its Related Security, is paid to the relevant Borrower or the person or persons next entitled thereto or, if such person cannot be found, is paid into court.
REDEMPTION OF MORTGAGES. 9.1 Upon repayment in full of all sums secured by a Mortgage and/or other Related Security comprised in the Portfolio, the Servicer shall, and is hereby authorised by the Mortgages Trustee and the Beneficiaries to execute a receipt or discharge or relevant H.M. Land Registry Form DS1 of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security as it considers to be necessary or advisable, to implement an Electronic Notification of Discharge to H.
REDEMPTION OF MORTGAGES. 10.3.1 Upon repayment in full of all sums due in relation to Mortgage Loans secured by a Mortgage and/or other Related Security comprised in the Mortgage Portfolio, the Administrator is hereby authorised by the Issuer and the Seller to execute a receipt or discharge or release of the Mortgage and any such other or further instrument or deed of satisfaction regarding such Mortgage and/or the Related Security therefor as it considers to be necessary or advisable.
10.3.2 The Administrator undertakes that, prior to any release by it of any Certificates of Title, it will take reasonable and appropriate steps to satisfy itself that such Certificates of Title are being released to the person or persons entitled thereto.
REDEMPTION OF MORTGAGES. 12 ARTICLE 10
REDEMPTION OF MORTGAGES. 7.1 Upon repayment in full of all sums due in relation to the Loans comprised in the Portfolio secured by a Mortgage, the Servicer shall, and is hereby authorised by the Fund and the Representative to, execute a receipt or discharge of the Mortgage and any such other or further instrument or document regarding such Mortgage and/or the other Related Security as it considers to be necessary or advisable, and to release the relevant Mortgage Document to the person or persons entitled thereto.
7.2 The Servicer undertakes that prior to any actual release by it of the relevant Mortgage Document it will take reasonable and appropriate steps, acting as a Reasonable, Prudent Mortgage Lender, to satisfy itself that the relevant Mortgage Document is being released to the person or persons entitled thereto.
7.3 The Servicer shall procure that if, upon completion of the Enforcement Procedures in relation to a Loan and its Related Security in the Portfolio, an amount in excess of all sums due by the relevant Borrower is recovered or received, the balance, after discharge of all sums due by the relevant Borrower, is paid to the person or persons next entitled thereto.
