Registration with MERS. In the event that any of the Loans are (or are required by the Servicing Obligations to be) registered on the MERS® System, the Servicer shall maintain (or register, as applicable) such Loan on the MERS® System and execute and deliver on behalf of the Company (including, as applicable, on behalf of the Manager, in turn on behalf of the Company) any and all instruments of assignment and other comparable instruments with respect to such assignment or re-recording of a mortgage securing a Loan in the name of MERS®, solely as nominee for the Company and its successors and assigns. With respect to each Loan that is registered on the MERS® System, (A) the Servicer shall be designated as the “servicer” and the “investor” with respect to such Loan, and, if applicable, the Manager may cause or permit an applicable Subservicer to be designated as the “subservicer” with respect to such Loan (provided, that, at the option of the Manager in accordance with the LLC Operating Agreement and so long as each applicable designee is and remains a MERS member in good standing, (1) the Company may be designated as the “investor” with respect to any such Loan, and (2) the Manager may be designated as the “servicer” with respect to any such Loan, in which case the Servicer shall be designated as the “subservicer” with respect thereto), and (B) no other Person shall be identified on the MERS® System as having any interest in such Loan unless otherwise consented to by the Manager (or required pursuant to the Electronic Tracking Agreement). Except as otherwise directed by the Manager (in connection with a voluntary removal by the Manager of any Loan from the MERS® System pursuant to Section 12.3(g) of the LLC Operating Agreement), all Loans registered on the MERS® System shall remain registered on the MERS® System unless default, foreclosure or similar legal or MERS® requirements dictate otherwise. The Servicer shall provide the Manager and the Initial Member with such reports from the MERS® System as the Manager or the Initial Member, from time to time, may request, including to allow the Manager and the Initial Member to verify the Persons identified on the MERS® System as having any interest in any of the Loans and to confirm that the Loans required to be registered on the MERS® System are so registered. For so long as any Loans remain registered with MERS, the same shall be subject to an Electronic Tracking Agreement in the form of Exhibit B, and, to the extent any such Loans ar...
Registration with MERS. The Servicer shall register any Loan on the MERS® System and execute and deliver, on behalf of the Company any and all instruments of assignment and other comparable instruments with respect to such assignment or re-recording of a mortgage securing a Loan in the name of MERS®, solely as nominee for the Company and its successors and assigns. No other Person shall be identified on the MERS® system as having any interest in any of the Loans. The Loans shall remain registered on the MERS® system unless default, foreclosure or similar legal or MERS® requirements dictate otherwise. The Servicer shall provide the Company with such reports from the MERS® system as either the Company, from time to time, may request, including to allow the Company to verify the Persons identified on the MERS® system as having any interest in any of the Loans and to confirm that the Loans required to be registered on the MERS® system are so registered. The Servicer shall also execute and deliver to the Company the Electronic Tracking Agreement. Without limiting the foregoing, upon the request of the Company, the Servicer shall cause MERS® to run a query with respect to any and all specified fields on the MERS® system with respect to any or all of the Loans registered on the MERS® system and provide the results to the Company and, if requested by the Company, shall cause MERS® to change the information in such fields, to the extent MERS® will do so in accordance with its policies and procedures, to reflect its instructions.
