Common use of Release and Reconveyance of Home Loans Clause in Contracts

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 of the Sale and Servicing Agreement, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 of the Sale and Servicing Agreement and the deposit in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto), or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this Grantor Trust Agreement pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and received with respect to such Home Loan and the related Mortgaged Property in the event of a release from this Grantor Trust Agreement pursuant to items (ii) or (iii) above.

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 of the Sale and Servicing Agreement, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 4.02 of the Sale and Servicing Agreement and the deposit of all Recoveries thereon in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto)Account, or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this the Grantor Trust Agreement pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and recoveries received with respect to such Home Loan and the related Mortgaged Property in the event of a release from this the Grantor Trust Agreement pursuant to items (ii) or (iii) above.

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 of the Sale and Servicing Agreement, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 of the Sale and Servicing Agreement and the deposit in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto), or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this Grantor Trust Agreement pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and received with respect to such Home Loan and the related Mortgaged Property in the event of a release from this Grantor Trust Agreement pursuant to items (ii) or (iii) above, or (z) equals the Purchase Price related to a Defective Home Loan pursuant to item (i) above.

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 of the Sale and Servicing Agreement, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 of the Sale and Servicing Agreement and the deposit of all Recoveries thereon in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto)Account, or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this Grantor Trust Agreement pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and received with respect to such Home Loan and the related Mortgaged Property in the event of a release from this Grantor Trust Agreement pursuant to items (ii) or (iii) above.

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the applicable Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 of the Sale and Servicing Agreement, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 of the Sale and Servicing Agreement and the deposit in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto), or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the applicable Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this Grantor Trust Agreement pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and received with respect to such Home Loan and the related Mortgaged Property in the event of a release from this Grantor Trust Agreement pursuant to items (ii) or (iii) above, or (z) equals the Purchase Price related to a Defective Home Loan pursuant to item (i) above.

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 Qualified Substitute Home Loan is substituted for such Home Loan and payment of the Sale and Servicing AgreementSubstitution Adjustment, if any, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 of the Sale and Servicing Agreement and the deposit of all Recoveries thereon in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto)Account, or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this Grantor Trust Agreement the lien of the Indenture pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and Recoveries received with respect to such Home Loan and the related Mortgaged Property property in the event of a release from the lien of this Grantor Trust Agreement Indenture pursuant to items (ii) or (iii) above.

Release and Reconveyance of Home Loans. (a) A Home Loan shall be released by the Grantor Trustee and reconveyed to the Transferor at any time (i) after a repurchase or substitution pursuant to Section 3.05 of the Sale and Servicing Agreement, (ii) after liquidation of the Home Loan in accordance with Section 4.10 or 4.11 of the Sale and Servicing Agreement and the deposit of all Recoveries thereon in the Collection Account of all proceeds recovered therefrom (net of any costs and expenses relating thereto)Account, or (iii) upon the termination of a Home Loan (due to, among other causes, a prepayment in full of the Home Loan and sale or other disposition of the related Mortgaged Property), if the Transferor delivers to the Grantor Trustee a written request (A) identifying the Home Loan and the related Mortgaged Property to be released and reconveyed, (B) requesting the release and reconveyance thereof, (C) setting forth the amount deposited in the Collection Account with respect thereto, and (D) certifying that the amount deposited in the Collection Account (x) equals the Substitution Adjustment related to the Qualified Substitute Home Loan and the Deleted Home Loan released from this Grantor Trust Agreement the lien of the Indenture pursuant to item (i) above, or (y) equals the entire amount of net proceeds recovered and Recoveries received with respect to such Home Loan and the related Mortgaged Property property in the event of a release from the lien of this Grantor Trust Agreement Indenture pursuant to items (ii) or (iii) above.