Common use of Release of Mortgage Files Clause in Contracts

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to any Loan, or the receipt by any Servicer of a notification that a Payoff has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 28 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar3), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar4)

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Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 27 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust 2005-Ar5), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-11)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will will, (or if the applicable Servicer does not, the Master Servicer Trustee may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Section 4.01 have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. In the event the Servicer satisfies or releases a Mortgage without having obtained payment in full of the indebtedness secured by the Mortgage or should it otherwise prejudice any right the Certificateholders or the Depositor may have under the Mortgage Loan Documents, the Servicer, upon written demand by the Depositor or the Trustee, shall remit within one Business Day the then outstanding principal balance of the related Mortgage Loan by deposit thereof in the Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing AgreementMortgage Loan, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in a form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, Trustee or to such Servicer or the Master Servicer.

Appears in 23 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ar1), Pooling and Servicing Agreement (GreenPoint MFT 2006-Ar2), Pooling and Servicing Agreement (Bear Stearns Mortage Funding Trust 2006-Ar2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 21 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mort Inv Mort Pass THR Cert Ser 2002-4), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Servicing Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trustee (or the Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee (and applicable Custodian the Custodian, if applicable) shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the Custodian, on behalf of the Trustee), shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Trustee (the Custodian, on behalf of the Trustee), of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, Trustee (or the Custodian on behalf of the Trustee), to such the Servicer or the Master Servicer.

Appears in 20 contracts

Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2004-2), Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-6), Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2007-5)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Servicing Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trustee (or the Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee (and applicable Custodian the Custodian, if applicable) shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the Custodian, on behalf of the Trustee), shall, upon the request of a Servicer or the Master Servicer, and upon delivery to the applicable Trustee (or the Custodian, on behalf of the Trustee, ) of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Trustee (or the Custodian, on behalf of the Trustee), to such the Servicer or the Master Servicer.

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (Harborview 2006-6), Pooling and Servicing Agreement (HarborView 2006-13), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-10)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, on behalf of the Trustee, Trustee or Custodian shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee or Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held in its possession or control to the related Servicer or Special Servicer. After the transfer of servicing with respect to any Specially Serviced Mortgage Loan to the Special Servicer, in accordance with the Servicing Standard, the Master Servicer shall notify, in writing, the Mortgagor under each Specially Serviced Mortgage Loan transferred to the Special Servicer, as applicable. Such request for release of such transfer. (c) The Special Servicer shall obligate such Servicer or send notification in writing, to the Master Servicer to return request any documents and instruments in the Mortgage File to the applicable Custodian on behalf possession of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless related to any Specially Serviced Mortgage Loan. (d) The Special Servicer shall, with respect to any Rehabilitated Mortgage Loan, release to the Master Servicer all documents and instruments in the possession of the Special Servicer related to such Rehabilitated Mortgage Loan. Prior to the transfer of servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer in accordance with the Servicing Standard, the Special Servicer shall be liquidatednotify, in which casewriting, upon receipt each Mortgagor under each Rehabilitated Mortgage Loan of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicertransfer.

Appears in 18 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2003-Top10), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Ii Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to notify the applicable Custodian, on behalf of the Trustee, two copies of Trustee by a request for release certification substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Exhibit E hereto (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Collection Account maintained by the applicable Master Servicer pursuant to its Servicing Agreement Section 4.07 have been or will be so deposited) of a Servicing Officer and shall request that the applicable Custodian, on behalf of the Trustee, Trustee to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that (unless otherwise expressly provided in the related Servicing Agreement) no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Collection Account or any Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the Servicing Standard and the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit E, release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request Request for release Release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File Request for Release shall be released delivered by the applicable Custodian, on behalf of Trustee to the Trustee, to such Servicer or the Master Servicer.

Appears in 17 contracts

Samples: Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-A), Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Certificates, Series 2005-B), Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-C)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, Custodian (on behalf of the Trustee, ’s behalf) shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee and Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held in its possession or control to the related Special Servicer. (c) The Special Servicer or the Master Servicershall, as applicable. Such request for release shall obligate such Servicer or with respect to any Rehabilitated Mortgage Loan, deliver to the Master Servicer copies of all documents and instruments in the possession of the Special Servicer related to return the such Rehabilitated Mortgage File Loan. Prior to the applicable Custodian on behalf transfer of the Trustee, when the need therefor by the related Servicer or servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer no longer exists unless in accordance with the Loan Servicing Standard, the Special Servicer shall be liquidatednotify, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specifiedwriting, the Mortgagor under such Rehabilitated Mortgage File shall be released by the applicable Custodian, on behalf Loan of the Trustee, to such Servicer or the Master Servicertransfer.

Appears in 15 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Company or the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Company or the related Servicer will will, if required under the related Servicing Agreement (or if the applicable Company or the related Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit G hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Company or the Servicer pursuant to its Article V or by the related Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Company or the related Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Company or the related Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement or the applicable related Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Company, the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Company, the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit G (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Company, the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the related Servicer or the Master Servicer.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac8), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac7)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Servicing Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, Trustee or the Custodian on behalf of the Trustee, Trustee deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of Trustee shall cause the Trustee, shall Custodian to promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee shall cause the Custodian, upon the request of the Servicer, and upon delivery to the Trustee (or the Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, ) of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of to the Trustee, to such Servicer or the Master Servicer.

Appears in 12 contracts

Samples: Pooling Agreement (Harborview Mortgage Loan Trust 2006-1), Pooling Agreement (HarborView Mortgage Loan Trust 2005-10), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-3)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff has been payment in full shall be escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Datepurposes, the applicable Servicer will will, within five (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf 5) Business Days of the Trusteepayment in full, two copies of a request for release substantially in notify the form attached to the related Custodial Agreement, and signed Trustee by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment that which are required to be deposited in the Protected Collection Account maintained by the applicable Servicer pursuant to its Servicing Agreement Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request that the applicable Custodian, on behalf delivery to it of the Trustee, deliver to the applicable Servicer the related Mortgage Custodial File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release the related Mortgage Custodial File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage Filewithin two (2) Business Days. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no No expenses incurred in connection with such any instrument of satisfaction or assignment, as the case may be, deed of reconveyance shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with Mortgage Loan, including, for this purpose, collection under any insurance policy relating to the applicable Servicing AgreementMortgage Loans, the Trustee shall shall, upon request of the Servicer and delivery to the Trustee, of a Request for Release, release the related Custodial File to the Servicer, and the Trustee shall, at the direction of the Servicer, execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf proceedings and the Servicer shall retain the Mortgage File in trust for the benefit of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request Request for release Release shall obligate such Servicer or the Master Servicer to return each and every document previously requested from the Mortgage Custodial File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related Servicer or the Master Servicer no longer exists exists, unless the Mortgage Loan shall be liquidatedhas been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account or the Mortgage File or such document has been delivered to an attorney, in or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer has delivered to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which case, upon such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer similar stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that hereinabove specifiedare required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Mortgage File Request for Release of Documents shall be released by the applicable CustodianTrustee to the Servicer or its designee. Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Servicer any court pleadings, requests for trustee's sale or other documents reasonably necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on behalf the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity, or shall exercise and deliver to the Servicer a power of attorney sufficient to authorize the Servicer to execute such documents on its behalf. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the TrusteeMortgage, to except for the termination of such Servicer a lien upon completion of the foreclosure or the Master Servicertrustee's sale.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2002-Ami), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2001-Nc1)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff has been payment in full shall be escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Datepurposes, the applicable Servicer will will, within five (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf 5) Business Days of the Trusteepayment in full, two copies of a request for release substantially in notify the form attached to the related Custodial Agreement, and signed Custodian by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment that which are required to be deposited in the Protected Collection Account maintained by the applicable Servicer pursuant to its Servicing Agreement Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request that delivery to it of the applicable Custodial File by submitting a Request for Release, which Request for Release may be in an electronic format in a form acceptable to the Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage FileCustodian. Upon receipt of such certification and requestRequest for Release, the applicable Custodian, on behalf of the Trustee, Custodian shall promptly release the related Mortgage Custodial File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage Filewithin five (5) Business Days. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no No expenses incurred in connection with such any instrument of satisfaction or assignment, as the case may be, deed of reconveyance shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with Mortgage Loan, including, for this purpose, collection under any Insurance Policy relating to the applicable Servicing AgreementMortgage Loans, the Trustee shall Custodian shall, upon request of the Servicer and delivery to the Custodian of a Request for Release, which Request for Release may be in an electronic format in a form acceptable to the Custodian, release the related Custodial File to the Servicer, and the Custodian shall, at the direction of the Servicer, execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf proceedings and the Servicer shall retain the Mortgage File in trust for the benefit of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request Request for release Release shall obligate such Servicer or the Master Servicer to return each and every document previously requested from the Mortgage Custodial File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists exists, unless the Mortgage Loan shall be liquidatedhas been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account or the Mortgage File or such document has been delivered to an attorney, in or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer has delivered to the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which case, upon such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer similar stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that hereinabove specifiedare required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Mortgage File Request for Release shall be released by the applicable CustodianCustodian to the Servicer or its designee. Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Servicer copies of any court pleadings, requests for trustee’s sale or other documents reasonably necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on behalf the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity, or shall exercise and deliver to the Servicer a power of attorney sufficient to authorize the Servicer to execute such documents on its behalf. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the TrusteeMortgage, to except for the termination of such Servicer a lien upon completion of the foreclosure or the Master Servicertrustee’s sale.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-Nc1), Pooling and Servicing Agreement (Hasco 2006-Opt3), Pooling and Servicing Agreement (Hasco 2006-Opt-4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, on behalf of the Trustee, Trustee or Custodian shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee or Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held in its possession or control to the related Servicer or Special Servicer. After the transfer of servicing with respect to any Specially Serviced Mortgage Loan to the Special Servicer, in accordance with the Servicing Standard, the Master Servicer shall notify, in writing, the Mortgagor under each Specially Serviced Mortgage Loan transferred to the Special Servicer, as applicable. Such request for release of such transfer. (c) The Special Servicer shall obligate such Servicer or send notification in writing, to the Master Servicer to return request any documents and instruments in the Mortgage File to the applicable Custodian on behalf possession of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless related to any Specially Serviced Mortgage Loan. (d) The Special Servicer shall, with respect to any Rehabilitated Mortgage Loan, release to the Master Servicer all documents and instruments in the possession of the Special Servicer related to such Rehabilitated Mortgage Loan. Prior to the transfer of servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer in accordance with the Servicing Standard, the Special Servicer shall be liquidatednotify, in which casewriting, upon receipt each Mortgagor under such Rehabilitated Mortgage Loan of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicertransfer.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq7), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01, or by the applicable Servicer pursuant to its Servicing Agreement Agreement, have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-8), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-7), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (Servicers or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly no later than five Business Days (or, to the extent that the applicable Servicer notifies the Seller that a document is not in the Servicer's possession as part of the Servicing File which is needed for purposes of the Servicer complying with any applicable law, within such shorter period as may be necessary to enable the Servicer to comply with such law), release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as requested and as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable In connection with the foregoing, the Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the related Servicer or the Master Servicer.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1), Pooling and Servicing Agreement (Merrill Lynch Investors Trust, Series 2006-A2), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A4)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Mortgage Loan, or the receipt by any a Servicer of a notification that a Payoff has been payment in full shall be escrowed in a manner customary for such purposes for purposes, such Servicer will, within five (5) Business Days of the payment to Certificateholders on the next Distribution Datein full, notify the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed Custodian by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment that which are required to be deposited in the Protected Collection Account maintained by the applicable Servicer pursuant to its Servicing Agreement Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request that delivery to it of the Custodial File by completing a Request for Release in the form of Exhibit L hereto to the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and requestRequest for Release, the applicable Custodian, on behalf of the Trustee, Custodian shall promptly release the related Mortgage Custodial File to the applicable such Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage Filewithin three (3) Business Days. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no No expenses incurred in connection with such any instrument of satisfaction or assignment, as the case may be, deed of reconveyance shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan Mortgage Loan, including, for this purpose, collection under any Insurance Policy relating to the Mortgage Loans, each Custodian shall, upon request of such Servicer and in accordance with delivery to the applicable Servicing AgreementCustodian, of a Request for Release, release the related Custodial File to such Servicer, and the Trustee shall shall, at the direction of such Servicer, execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf proceedings and such Servicer shall retain the Mortgage File in trust for the benefit of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to . Such Request for Release shall obligate the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return each and every document previously requested from the Mortgage Custodial File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master such Servicer no longer exists exists, unless the Mortgage Loan shall be liquidatedhas been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account or the Mortgage File or such document has been delivered to an attorney, in or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non judicially, and such Servicer has delivered to the applicable Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which case, upon such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer similar stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that hereinabove specifiedare required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Mortgage File Request for Release shall be released by the applicable CustodianCustodian to the applicable Servicer or its designee. Upon receipt of a Request for Release under this Section 3.16, on behalf of the Trusteeapplicable Custodian shall deliver the related Custodial File to the requesting Servicer by regular mail or by overnight courier, unless a Servicer requests that the applicable Custodian deliver such Custodial File to such Servicer by overnight courier (in which case such delivery shall be at the applicable Servicer's expense); provided, however, that in the event such Servicer has not previously received copies of the relevant Mortgage Loan Documents necessary to service the related Mortgage Loan in accordance with Accepted Servicing Practices, the Depositor shall use reasonable efforts to cause the Sponsor to reimburse such Servicer for any overnight courier charges incurred for the requested Custodial Files. Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the applicable Servicer copies of any court pleadings, requests for trustee's sale or other documents reasonably necessary to the Master Servicerforeclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity, or shall exercise and deliver to such Servicer a power of attorney sufficient to authorize such Servicer to execute such documents on its behalf. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-H1), Pooling and Servicing Agreement (GSAMP Trust 2006-He3), Pooling and Servicing Agreement (GSAMP Trust 2006-He7)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, Custodian (on behalf of the Trustee, ’s behalf) shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee and Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held to the Special Servicer. (c) The Special Servicer shall, with respect to any Rehabilitated Mortgage Loan, deliver to the Master Servicer copies of all documents and instruments in its the possession or control of the Special Servicer related to such Rehabilitated Mortgage Loan. Prior to the transfer of servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer in accordance with the Servicing Standard, the Special Servicer shall notify, in writing, the Mortgagor under such Rehabilitated Mortgage Loan of such transfer. (d) With respect to any Non-Serviced Loan Combination, if pursuant to the related Intercreditor Agreement and the Other Pooling and Servicing Agreement, and as appropriate for enforcing the terms of such Non-Serviced Loan Combination, the related Other Master Servicer requests delivery to it of the original Mortgage Note, then the Custodian shall release or cause the release of such original Mortgage Note to the related Other Master Servicer or the Master Servicer, as applicable. Such request for release its designee and shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of retain a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicercopy thereof.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Servicing Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the related Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the Trustee (or the applicable Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee (and applicable Custodian the Custodians) shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the related Custodian, on behalf of the Trustee), shall, upon the request of a Servicer or the Master Servicer, and upon delivery to the applicable Trustee (or the related Custodian, on behalf of the Trustee, ) of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the related Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Trustee (or the related Custodian, on behalf of the Trustee), to such the Servicer or the Master Servicer.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (HarborView 2007-2), Pooling and Servicing Agreement (HarborView 2007-7), Pooling and Servicing Agreement (RBSGC Mortgage Loan Trust 2007-B)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Servicing Account maintained by the applicable Servicer pursuant to its Section 4.01 or by the Servicer pursuant to the Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trustee (or the Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and Servicer, the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the Custodian, on behalf of the Trustee), shall, upon the request of a Servicer or the Master Servicer, and upon delivery to the applicable Trustee (or the Custodian, on behalf of the Trustee), of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, Trustee (or the Custodian on behalf of the Trustee), to such Servicer or the Master Servicer.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (HarborView 2007-3), Pooling and Servicing Agreement (Harborview 2006-9), Pooling and Servicing Agreement (HarborView 2006-11)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related applicable Custodial Agreement, and Agreement attached to the signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Master Servicer Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related applicable Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust 2002- He1), Pooling and Servicing Agreement (Ace Securities Corp)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mort Sec Inc Mortgage Loan Trust Series 2004 2), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Mortgage Loan Trust Series 2003-2xs)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Servicing Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Trustee cause the Trustee, Custodian to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of Trustee shall cause the Trustee, shall Custodian to promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee shall cause the Custodian, upon the request of the Servicer, and upon delivery to the Trustee (or the Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, ) of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of to the Trustee, to such Servicer or the Master Servicer.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-9), Pooling and Servicing Agreement (FNBA Mortgage Loan Trust 2004 AR1), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc Harborview Mort Ln Tr 03 3)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to related Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Section 4.01 or by the applicable Servicer pursuant to the applicable Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2005-4), Pooling and Servicing Agreement (Prime Mortgage Trust 2005-4), Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates & Re-Remic Certificates, Series 2005-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Master Servicer will (or if cause the applicable Servicer does not, the Master Servicer may)Servicer, if required under the applicable Servicing Agreement, to promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer servicing officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer servicing officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Servicer Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trustee (or the Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee (and applicable Custodian the Custodian, if applicable) shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Servicer Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the Custodian, on behalf of the Trustee), shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Trustee (the Custodian, on behalf of the Trustee), of two copies of a request for release signed by a Servicing Officer servicing officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officerservicing officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer servicing officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, Trustee (or the Custodian on behalf of the Trustee), to such the Servicer or the Master Servicer.

Appears in 6 contracts

Samples: Trust, Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2004-4), Trust, Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Trust, Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2003 5)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Company or the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Company or the related Servicer will will, if required under the related Servicing Agreement (or if the applicable Company or the related Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to of Exhibit G (or as otherwise provided in the related Custodial Agreement, and ) hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Company or the Servicer pursuant to its Article V or by the related Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Company or the related Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Company or the related Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement or the applicable related Servicing Agreement, upon written instruction from such Servicer or the Master Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Company, the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Company, the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit G (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Company, the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the related Servicer or the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, on behalf of the Trustee, Trustee or Custodian shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee or Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held in its possession or control to the related Special Servicer. (c) The Special Servicer or the Master Servicershall, as applicable. Such request for release shall obligate such Servicer or with respect to any Rehabilitated Mortgage Loan, deliver to the Master Servicer copies of all documents and instruments in the possession of the Special Servicer related to return the such Rehabilitated Mortgage File Loan. Prior to the applicable Custodian on behalf transfer of the Trustee, when the need therefor by the related Servicer or servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer no longer exists unless in accordance with the Loan Servicing Standard, the Special Servicer shall be liquidatednotify, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specifiedwriting, the Mortgagor under such Rehabilitated Mortgage File shall be released by the applicable Custodian, on behalf Loan of the Trustee, to such Servicer or the Master Servicertransfer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to the related Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Trust 2005-He3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2004-Ar2), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005 - AR1)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Mortgage Loan, or the receipt by any the Master Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Master Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Master Servicer Collection Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so depositeddeposited or escrowed) and shall request that the applicable Custodian, on behalf of the Trustee, Trustee deliver to the applicable Master Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release the related Mortgage File to the applicable Master Servicer and the Trustee and applicable Custodian shall not have no any further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Master Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the related Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the related Mortgaged Property subject to the such Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Master Servicer Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing AgreementMortgage Loan, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the related Mortgage File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related Servicer or the Master Servicer no longer exists unless the related Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the related Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, Trustee to such Servicer or the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2005-2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2005-3), Pooling and Servicing Agreement (Bsabs 2005-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer an Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer an Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer an Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officeran Authorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer an Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2007-3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar2), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Fm1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Company or the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Company or the related Servicer will will, if required under the related Servicing Agreement (or if the applicable Company or the related Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to of Exhibit G (or as otherwise provided in the related Custodial Agreement, and ) hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Company or the Servicer pursuant to its Article V or by the related Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Company or the related Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Company or the related Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution applicable Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement or the applicable related Servicing Agreement, upon written instruction from such Servicer or the Master Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Company, the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Company, the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit G (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Company, the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the related Servicer or the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac3)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable such Servicer will (or if the applicable such Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer an Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer an Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable related Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable related Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master related Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master related Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer an Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officeran Authorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master related Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer an Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master related Servicer.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar4), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2007-2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ap1), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2005-Fm1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp, Alternative Loan Trust, Series 2005-Ar6)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable MortgageIT Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Indenture Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the MortgageIT Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable MortgageIT Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Indenture Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the Servicer or the Master Servicer.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-2, Mortgage-Backed Notes, Series 2005-2), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-3, Mortgage-Backed Notes, Series 2005-3), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-4, Mortgage-Backed Notes, Series 2005-4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable such Servicer will (or and if the applicable such Servicer does not, then the Master Servicer may), if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the related Protected Account maintained by the applicable such Servicer pursuant to its Section 4.01 or by such Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer related Servicer, and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related such Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related such Servicer or the Master Servicer no longer exists exists, unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the related Servicer or the Master Servicer. (c) The Master Servicer hereby covenants that it shall not alter the codes referenced in Section 4(c) of the Mortgage Loan Purchase Agreement with respect to any Mortgage Loan during the term of this Agreement, unless and until such Mortgage Loan is repurchased in accordance with the terms of this Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust Series 2004-Ar2), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the related Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mortgage Sec Inc Mort Loan Tr Ser 2004-1), Pooling and Servicing Agreement (Deutsche Mortgage Sec Inc Mort Loan Tr Ser 2004-1), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc Mortgage Loan Trust 2004-4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to any Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related applicable Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related applicable Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-6)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable such Servicer will (or and if the applicable such Servicer does not, then the Master Servicer may), if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the related Protected Account maintained by the applicable such Servicer pursuant to its Section 4.01 or by such Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer related Servicer, and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related such Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related such Servicer or the Master Servicer no longer exists exists, unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the related Servicer or the Master Servicer. (c) The Master Servicer hereby covenants that it shall not alter the codes referenced in Section 4(c) of the Mortgage Loan Purchase Agreement or in Section 4(c) of any Subsequent Mortgage Loan Purchase Agreement, with respect to any Mortgage Loan during the term of this Agreement, unless and until such Mortgage Loan is repurchased in accordance with the terms of this Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar6)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, Custodian (on behalf of the Trustee, ’s behalf) shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee and Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held to the Special Servicer. (c) The Special Servicer shall, with respect to any Rehabilitated Mortgage Loan, deliver to the Master Servicer copies of all documents and instruments in its the possession of the Special Servicer related to such Rehabilitated Mortgage Loan. Prior to the transfer of servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer in accordance with the Servicing Standard, the Special Servicer shall notify, in writing, the Mortgagor under such Rehabilitated Mortgage Loan of such transfer. (d) With respect to any Non-Serviced Loan Combination or control The Mall at Txxxxx Crossing Loan Pair (on and after The Mall at Txxxxx Crossing Companion Loan Securitization Date), if pursuant to the related Servicer Intercreditor Agreement and the Other Pooling and Servicing Agreement, and as appropriate for enforcing the terms of such Non-Serviced Loan Combination or the Master ServicerThe Mall at Txxxxx Crossing Loan Pair, as applicable. Such request for , the related Other Master Servicer requests delivery to it of the original Mortgage Note, then the Custodian shall release shall obligate or cause the release of such original Mortgage Note to the related Other Master Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan its designee and shall be liquidated, in which case, upon receipt of retain a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicercopy thereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) . From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Cert Ser 2002-2), Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee and the related Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable related Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable related Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the related Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable CustodianCustodians, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable related Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable related Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable related Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp. Series 2005-Ar5), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-Ar3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-Ar4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any GMACM Mortgage Loan, or the receipt by any Servicer GMACM of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer GMACM will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer GMACM pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer GMACM the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer GMACM and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer GMACM is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related GMACM Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountCustodial Account maintained by GMACM. (b) From time to time and as appropriate for the servicing or foreclosure of any GMACM Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer GMACM (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master ServicerGMACM, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicableGMACM. Such request for release shall obligate such Servicer or the Master Servicer GMACM to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the GMACM Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master ServicerGMACM.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005 - AP1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable MortgageIT Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Indenture Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the MortgageIT Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable MortgageIT Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Indenture Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian's possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (MortgageIT Trust 2004-1), Sale and Servicing Agreement (Mortgageit Trust 2004-2, Mortgage-Backed Notes, Series 2004-2), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-1, Mortgage-Backed Notes, Series 2005-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer or the Subservicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)Subservicer will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Indenture Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer or the Subservicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer or the Subservicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer or the Subservicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer or the Subservicer, as the case may be, is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the Subservicer, the Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Subservicer, the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Indenture Trustee, of two copies of a request for release signed by a Servicing Officer or Master Servicing Officer, as applicable, substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer or Master Servicing Officer, as applicable), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Subservicer, the Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Subservicer, the Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Subservicer, the Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists exists, unless (1) the Mortgage Loan shall be liquidatedhas been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited into the Custodial Account, in which case, upon receipt of a certificate of a Servicing Officer or Master Servicing Officer, as applicable, similar to that hereinabove specified, the Mortgage File shall be released by the applicable CustodianIndenture Trustee or the Custodian to the Subservicer, on behalf of the Trustee, to such Servicer or the Master Servicer, or (2) such documents have been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer or the Subservicer has delivered to the Custodian a certificate of a Servicing Officer or Master Servicing Officer, as applicable, certifying as to the name and address of the Person to whom such documents were delivered and the purpose or purposes of such delivery.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Peoples Choice Home Loan Securities Corp), Sale and Servicing Agreement (Peoples Choice Home Loan Securities Corp), Sale and Servicing Agreement (Peoples Choice Home Loan Securities Trust Series 2005-3)

Release of Mortgage Files. (a) Upon (i) becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or (ii) the receipt by any the Master Servicer of a notification that a Payoff payment in full has been or will be escrowed in a manner customary for such purposes for purposes, or (iii) in the case of a Mortgage Loan as to which the related Mortgaged Property is located in California, receipt by the Master Servicer of notification from the Servicer that the Servicer reasonably expects that payment to Certificateholders on the next Distribution Date, the applicable Servicer in full will (or if the applicable Servicer does notbe received promptly, the Master Servicer may)will, if required under or will cause the applicable Servicing Agreementrelated Servicer to, promptly furnish to notify the Trustee (or the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed ) by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Collection Account maintained by the applicable Master Servicer pursuant to its Servicing Agreement Section 4.01 have been or will be so deposited) of a Servicing Officer and shall request that (on the form attached hereto as Exhibit C or on the form attached to the related Custodial Agreement) the Trustee or the applicable Custodian, on behalf of the Trustee, to deliver to the applicable Servicer the related Mortgage File; provided, however, that in the case of a Mortgage Loan as to which the related Mortgaged Property is located in California, the related Mortgage File shall be released upon notification from the Servicer or the Master Servicer that such party reasonably expects that payment in full will be received promptly. Upon receipt of such certification and request, the Trustee or the applicable CustodianCustodian (with the consent, on behalf and at the direction of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Master Servicer is authorized authorized, and each Servicer, to the extent such authority is provided for under the applicable Servicing Agreement, is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with Accepted Servicing Practices and the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer, or by a Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The Trustee or the applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, or of a Servicer, and delivery to the Trustee or the applicable Custodian, on behalf of the Trustee, of two copies of a request for release trust receipt signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held in its possession or control to the related Master Servicer (or the applicable Servicer). Such trust receipt shall obligate the Master Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the Trustee or the applicable Custodian on behalf of the TrusteeCustodian, as applicable, when the need therefor by the related Master Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File trust receipt shall be released by the Trustee or the applicable Custodian, on behalf of the Trusteeas applicable, to such the Master Servicer (or the Master applicable Servicer).

Appears in 3 contracts

Samples: Trust Agreement (Structured Asset Securities Corp Mort Pas THR Ce Se 2001-Bc3), Trust Agreement (Structured Ass Sec Cor a R Col Tr MRT Ps THR CRT Ser 01-Bc6), Trust Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2001-Bc5)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will will, if required under the Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Section 4.01, or by the Servicer pursuant to the Servicing Agreement Agreement, have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, and at the expense of the Servicer, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request Request for release Release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, Custodian (on behalf of the Trustee, ’s behalf) shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee and Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held to the Special Servicer. (c) The Special Servicer shall, with respect to any Rehabilitated Mortgage Loan, deliver to the Master Servicer copies of all documents and instruments in its the possession of the Special Servicer related to such Rehabilitated Mortgage Loan. Prior to the transfer of servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer in accordance with the Servicing Standard, the Special Servicer shall notify, in writing, the Mortgagor under such Rehabilitated Mortgage Loan of such transfer. (d) With respect to any Non-Serviced Loan Combination or control the Marriott Chicago River North Hotel Loan Pair (on and after the Marriott Chicago River North Hotel Companion Loan Securitization Date), if pursuant to the related Servicer Intercreditor Agreement and the Other Companion Loan Pooling and Servicing Agreement, and as appropriate for enforcing the terms of such Non-Serviced Loan Combination or the Master ServicerMarriott Chicago River North Hotel Loan Pair, as applicable. Such request for , the related Other Master Servicer requests delivery to it of the original Mortgage Note, then the Custodian shall release shall obligate or cause the release of such original Mortgage Note to the related Other Master Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan its designee and shall be liquidated, in which case, upon receipt of retain a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicercopy thereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Loan, Mortgage Loan or the receipt by any Servicer escrow of a notification that a Payoff has been escrowed such amount in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Master Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies Trustee a copy of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Master Servicer pursuant to its Servicing Agreement have been or will be so depositeddeposited or escrowed) and shall request that the applicable Custodian, on behalf of the Trustee, Trustee deliver to the applicable Master Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release the related Mortgage File to the applicable Master Servicer and the Trustee and applicable Custodian shall have no any further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Master Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing AgreementMortgage Loan, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Securityholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to notify the applicable Custodian, on behalf of Indenture Trustee and the Trustee, two copies of Custodian by a request for release certification substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Exhibit E hereto (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Collection Account maintained by the applicable Master Servicer pursuant to its Servicing Agreement Section 4.07 have been or will be so deposited) of a Servicing Officer and shall request that the applicable Custodian, on behalf of the Trustee, Indenture Trustee to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release (or shall cause the Custodian to promptly release) the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that (unless otherwise expressly provided in the related Servicing Agreement) no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Collection Account or any Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the Servicing Standard and the applicable Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Indenture Trustee of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit E, release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request Request for release Release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the TrusteeIndenture Trustee or Custodian, as applicable, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File Request for Release shall be released delivered by the applicable Custodian, on behalf of Indenture Trustee to the Trustee, to such Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Transfer and Servicing Agreement (Bayview Financial Securities Co LLC), Transfer and Servicing Agreement (Bayview Financial Securities Co LLC), Transfer and Servicing Agreement (BLG Securities Company, LLC)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to the related Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Trustee or a Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable such Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage FileFile (provided that, if the Servicer does not provide such certification, the Master Servicer may do so). Upon Within five (5) Business Days of receipt of such certification and request, the applicable related Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable such Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement, and at the applicable written direction of an Authorized Servicing AgreementRepresentative, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable related Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable such Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable related Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable such Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-S2), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by the Company or any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Company or the related Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the Company or the applicable Servicer pursuant to Article V or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the Company or the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the Company or the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement or the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by the Company, a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of the Company, a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Company, the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the related Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Certificates Series 2002-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Specially Serviced Mortgage Loan, or the receipt by any the Special Servicer of a notification that a Payoff has been payment in full will be escrowed in a manner customary for such purposes for payment to Certificateholders on purposes, or the next Distribution Datecomplete defeasance of a Mortgage Loan, the applicable Special Servicer will (or if the applicable Servicer does not, immediately notify the Master Servicer. The Special Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which willshall determine, in lieu of a signature on its faceaccordance with the Servicing Standard, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, whether an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered and, if the Special Servicer determines that such instrument should be delivered, the Special Servicer shall deliver written approval of such delivery to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountMaster Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Specially Serviced Mortgage Loan or the management of the related REO Property and in accordance with the applicable Servicing AgreementStandard, the Trustee shall execute or cause to be executed such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer Special Servicing Officer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any for such proceedingspurposes. The applicable Custodian, Custodian (on behalf of the Trustee, ’s behalf) shall, upon the request of a the Special Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Trustee and Custodian of a request for release signed by a Special Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit C, release the related Mortgage File held to the Special Servicer. (c) The Special Servicer shall, with respect to any Rehabilitated Mortgage Loan, deliver to the Master Servicer copies of all documents and instruments in its the possession of the Special Servicer related to such Rehabilitated Mortgage Loan. Prior to the transfer of servicing with respect to any Rehabilitated Mortgage Loan to the Master Servicer in accordance with the Servicing Standard, the Special Servicer shall notify, in writing, the Mortgagor under such Rehabilitated Mortgage Loan of such transfer. (d) With respect to any Non-Serviced Loan Combination or control the Hilton San Francisco Financial District Loan Pair (on and after the Hilton San Francisco Financial District Companion Loan Securitization Date), if pursuant to the related Servicer Intercreditor Agreement and the Other Pooling and Servicing Agreement, and as appropriate for enforcing the terms of such Non-Serviced Loan Combination or the Master ServicerHilton San Francisco Financial District Loan Pair, as applicable. Such request for , the related Other Master Servicer requests delivery to it of the original Mortgage Note, then the Custodian shall release shall obligate or cause the release of such original Mortgage Note to the related Other Master Servicer or its designee and shall retain a copy thereof, subject to the execution of an agreement by such Other Master Servicer to safeguard such original Mortgage Note and to return such original Mortgage Note promptly when no longer required by such Other Master Servicer for such purpose. (e) With respect to any Loan Pair, if pursuant to the related Intercreditor Agreement, and as appropriate for enforcing the terms of such Loan Pair, the Master Servicer requests from the related Other Custodian delivery to return the Mortgage File to the applicable Custodian on behalf it of the Trustee, when the need therefor by original mortgage note evidencing the related Servicer or Serviced Companion Loan, the Master Servicer shall agree to safeguard such original mortgage note and to return such original mortgage note promptly when no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released required by the applicable Custodian, on behalf of the Trustee, to it for such Servicer or the Master Servicerpurpose.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit E hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee Trustee, the Trust Administrator and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit E (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2004-Hyb3), Pooling and Servicing Agreement (Salomon Brots Mort Sec Vii Inc Citigroup Mort Ln Tr 03 Hyb1), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Series 2004-Hyb2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer the Company of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will Company will, if required under this Agreement (or if the applicable Servicer Company does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to of Exhibit G (or as otherwise provided in the related Custodial Agreement, and ) hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer Company pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer Company the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer Company and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer the Company is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement, upon written instruction from such Servicer or the applicable Servicing AgreementMaster Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer the Company or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer the Company or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit G (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer Company or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer the Company or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer the Company or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He7)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Company or the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Company or the related Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Company or the Servicer pursuant to its Article V or by the related Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Company or the related Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Company or the related Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement or the applicable related Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Company, the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Company, the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Company, the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the related Servicer or the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Ac1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff has been payment in full shall be escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Datepurposes, the applicable Servicer will (will, on or if before the applicable Servicer does notlast day of the month in which such payment in full occurs, notify the Master Servicer may), if required under Trustee or the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trusteeas applicable, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment that which are required to be deposited in the Protected Collection Account maintained by the applicable Servicer pursuant to its Servicing Agreement Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request that delivery to it of the applicable Custodial File by submitting a Request for Release (in writing or an electronic format acceptable to the Trustee or the Custodian, on behalf of the Trustee, deliver as applicable) to the applicable Servicer Trustee or the related Mortgage FileCustodian, as applicable. Upon receipt of such certification and requestRequest for Release, the applicable Trustee or the Custodian, on behalf of the Trusteeas applicable, shall promptly release the related Mortgage Custodial File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage Filewithin five (5) Business Days. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no No expenses incurred in connection with such any instrument of satisfaction or assignment, as the case may be, deed of reconveyance shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with Mortgage Loan, including, for this purpose, collection under any Insurance Policy relating to the applicable Servicing AgreementMortgage Loans, the Trustee shall or the Custodian, as applicable, shall, upon request of the Servicer and delivery to the Trustee or the Custodian, as applicable, of a Request for Release in written or electronic form, release the related Custodial File to the Servicer, and the Trustee or the Custodian, as applicable, shall, at the direction of the Servicer, execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf proceedings and the Servicer shall retain the Mortgage File in trust for the benefit of the Trustee, shall, upon . Such Request for Release shall obligate the request of a Servicer to return each and every document previously requested from the Custodial File to the Trustee or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists exists, unless the Mortgage Loan shall be liquidatedhas been charged off or liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account or the Mortgage File or such document has been delivered to an attorney, in or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non judicially, and the Servicer has delivered to the Trustee or the Custodian, as applicable, a certificate of a Servicing Officer certifying as to the name and address of the Person to which case, upon such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a certificate of a Servicing Officer similar stating that such Mortgage Loan was charged off or liquidated and that all amounts received or to be received in connection with such liquidation that hereinabove specifiedare required to be deposited into the Collection Account have been so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Mortgage File Request for Release shall be released by the applicable Trustee or the Custodian, on behalf as applicable, to the Servicer or its designee upon request therefor. Upon receipt of a Request for Release under this Section 3.16, the Trustee or the Custodian, as applicable, shall deliver the related Custodial File to the Servicer; provided, however, that in the event the Servicer has not previously received copies of the Trusteerelevant Mortgage Loan Documents necessary to service the related Mortgage Loan in accordance with Accepted Servicing Practices, to such Servicer the applicable Responsible Party shall reimburse the Trustee or the Master ServicerCustodian, as applicable, for any overnight courier charges incurred for the requested Custodial Files. Upon written certification of a Servicing Officer, the Trustee shall execute and deliver to the Servicer copies of any court pleadings, requests for trustee's sale or other documents reasonably necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity, or shall exercise and deliver to the Servicer a power of attorney sufficient to authorize the Servicer to execute such documents on its behalf. Each such certification shall include a request that such pleadings or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1), Pooling and Servicing Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Trustee shall direct the Servicer will (or if to, as provided in Section 7.02 of the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Section 4.01 of the Servicing Agreement have been or will be so deposited) and upon receipt of such certification, the Trustee shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request; thereafter, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, Trustee of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Trustee to the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01, or by the applicable Servicer pursuant to its Servicing Agreement Agreement, have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, upon written instruction from such Servicer or the Master Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-4), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-3)

Release of Mortgage Files. (a) Upon (i) becoming aware of a Payoff with respect to the payment in full of any Loan, Mortgage Loan or (ii) the receipt by any the Master Servicer of a notification that a Payoff payment in full has been or will be escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does notpurposes, the Master Servicer may)will, if required under or will cause the applicable Servicing Agreementrelated Servicer to, promptly furnish to notify the applicable Indenture Trustee (or the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed ) by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Collection Account maintained by the applicable Master Servicer pursuant to its Servicing Agreement Section 4.07 have been or will be so deposited) of a Servicing Officer and shall request that (on the applicable form attached hereto as Exhibit B or on the form attached to the related Custodial Agreement) the Indenture Trustee or the Custodian, on behalf of the Trustee, to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable CustodianIndenture Trustee or the Custodian (with the consent, on behalf and at the direction of the Indenture Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Master Servicer is authorized authorized, and each Servicer, to the extent such authority is provided for under the applicable Servicing Agreement, is authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with Accepted Servicing Practices and the applicable Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a Servicer or the Master Servicer, or by a Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Indenture Trustee or the Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, or of a Servicer, and delivery to the applicable Indenture Trustee or the Custodian, on behalf of the Trustee, of two copies of a request for release trust receipt signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer)Exhibit B, release the related Mortgage File held in its possession or control to the related Master Servicer (or the applicable Servicer). Such trust receipt shall obligate the Master Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of Indenture Trustee or the TrusteeCustodian, as applicable, when the need therefor by the related Master Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File trust receipt shall be released by the applicable Indenture Trustee or the Custodian, on behalf of the Trusteeas applicable, to such the Master Servicer (or the Master applicable Servicer).

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Lehman ABS Corp. Home Equity Loan Trust 2005-1), Transfer and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-He3)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable related Servicer will will, if required under the related Servicing Agreement (or if the applicable such Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Trust Administrator, the Trustee or the Custodian, on behalf of the Trusteeas applicable, two copies of a request for release certification substantially in the form attached to of Exhibit E hereto (or such comparable form as set forth in the related Custodial Agreement, and ) signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable related Servicer pursuant to its the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the TrusteeTrustee or the Trust Administrator, as applicable, deliver to the applicable related Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trust Administrator, the Trustee or the Custodian, on behalf of the Trusteeas applicable, shall promptly release the related Mortgage File to the applicable related Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trust Administrator, the Trustee or the Custodian, on behalf of the Trusteeas applicable, shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Trust Administrator, the Trustee or the Custodian, on behalf of the Trusteeas applicable, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to of Exhibit E or such comparable form as set forth in the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of Trust Administrator, the TrusteeTrustee or the Custodian, as applicable, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Trust Administrator, the Trustee or the Custodian, on behalf of as applicable to the Trustee, to such related Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to any Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar2), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-5)

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Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (Servicers or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly promptly, but in no less than three (3) Business Days (or, to the extent that the applicable Servicer notifies the Sponsor that a document is not in the Servicer's possession as part of the Servicing File which is needed for purposes of the Servicer complying with any applicable law, within such shorter period as may be necessary to enable the Servicer to comply with such law), release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as requested and as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable In connection with the foregoing, the Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the related Servicer or the Master Servicer. (c) The Servicers shall have no liability for, and shall be excused from, any non-performance hereunder to the extent such non-performance is solely and directly caused by (i) the failure of the Custodian to release (and not caused by any failure or non-performance by the Servicers), in a manner consistent with the terms of the Custodial Agreement, any Mortgage File requested by the Servicers pursuant to a Request for Release and (ii) the unreasonable refusal of the Trustee to execute a request for the execution of documents.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A2), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A3)

Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan or any Group II HELOC following the end of the related Draw Period, or the determination by the Company that all amounts which it expects to recover from or on account of a Payoff Charged-Off Group II HELOC have been recovered and no further Liquidation Proceeds or Recoveries will be received in connection with respect to any Loansuch Charged-Off Group II HELOC, or the receipt by any the Company or the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will Company or the related Servicer, as applicable, (or if the applicable Company or the related Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit G hereto signed by a Servicing Officer or Master Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer or Master Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Company or the related Servicer pursuant to its Article V or by the related Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Company or the related Servicer or the Master Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Company or the related Servicer or the Master Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the related Servicer is authorized authorized, to give, as agent for the Trustee, Trustee as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement and the applicable related Servicing Agreement, as applicable, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Company, the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Company, the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit G (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Company, the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidatedliquidated or shall become a Charged-Off Group II HELOC, in which case, upon receipt of a certificate of a Servicing Officer or Master Servicing Officer, as applicable, similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the related Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mortgage Pass-Through Certificates, Series 2005-5), Pooling and Servicing Agreement (Saco I Trust 2005-5)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Mort Pas THR Cert Se 04 Cl1), Pooling and Servicing Agreement (Structured Asset Mort Prime Mort Tr Pas THR Cer Ser 2004 Cl2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountCustodial Account maintained by the Servicer. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc.), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Mortgage Loan, or the receipt by any the Master Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Master Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Master Servicer Collection Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so depositeddeposited or escrowed) and shall request that the applicable Custodian, on behalf of the Trustee, Trustee deliver to the applicable Master Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release the related Mortgage File to the applicable Master Servicer and the Trustee and applicable Custodian shall not have no any further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Master Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Master Servicer Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing AgreementMortgage Loan, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, Trustee to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004-2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Series 2004 1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)shall cause the Servicer to, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Servicing Account maintained by the applicable Servicer pursuant to Section 4.01 or by the Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trustee (or the Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee (and applicable Custodian the Custodian, if applicable) shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the Custodian, on behalf of the Trustee), shall, upon the request of a the Servicer or the Master Servicer, and upon delivery to the applicable Trustee (or the Custodian, on behalf of the Trustee, ) of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Trustee (or the Custodian, on behalf of the Trustee), to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-11)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to any Loan, or the receipt by any the Servicer of a notification that a Payoff has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Mortgage Loan Purchase and Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the Mortgage Loan Purchase and Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each the Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Mortgage Loan Purchase and Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3), Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable related Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable related Servicing Agreement, or the Master Servicer may promptly furnish to the applicable Custodian, on behalf of the Trustee, Indenture Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable such Servicer pursuant to its the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable related Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a Servicer the Servicers or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Indenture Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian's possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The related Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related such Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the related Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-2), Sale and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-A9)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. . (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Arm Trust 2003-5), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pas THR Certs Ser 2003-3)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will will, if required under the Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Section 4.01 or by the Servicer pursuant to the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bankunited Trust 2005-1, Mortgage Pass-Through Certificates, Series 2005-1), Pooling and Servicing Agreement (Bankunited Trust 2005-1, Mortgage Pass-Through Certificates, Series 2005-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (Servicers or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly no later than five Business Days (or, to the extent that the applicable Servicer notifies the Sponsor that a document is not in the Servicer's possession as part of the Servicing File which is needed for purposes of the Servicer complying with any applicable law, within such shorter period as may be necessary to enable the Servicer to comply with such law), release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as requested and as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable In connection with the foregoing, the Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the related Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Af2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any LoanHELOC, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable related Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement or this Agreement, as applicable, promptly furnish to the applicable Custodian, on behalf of Indenture Trustee and the Trustee, Custodian two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable such Servicer pursuant to its the Servicing Agreement or this Agreement, as applicable, have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable related Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the LoanHELOC, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan HELOC and in accordance with the applicable Servicing Agreement or this Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the related Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Indenture Trustee and the Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer The Servicers or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related such Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Loan HELOC shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such Servicer the Servicers or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (SACO I Trust 2006-8), Sale and Servicing Agreement (SACO I Trust 2006-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable such Servicer will (or and if the applicable such Servicer does not, then the Master Servicer may), if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the related Protected Account maintained by the applicable such Servicer pursuant to its Section 4.01 or by such Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer related Servicer, and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the related Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request Request for release Release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related such Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, Trustee when the need therefor by the related such Servicer or the Master Servicer no longer exists exists, unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the related Servicer or the Master Servicer. (c) The Master Servicer hereby covenants that it shall not alter the codes referenced in Section 4(c) of the Mortgage Loan Purchase Agreement, with respect to any Mortgage Loan during the term of this Agreement, unless and until such Mortgage Loan is repurchased in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2005-Ar2), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust Series 2005-Ar1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Section 4.01 or by the Servicer pursuant to the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Cert 2002-Ar3)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Grantor Trust Certificateholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Xxxxx Fargo Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Grantor Trustee two copies of a request for release certification substantially in the form attached of Exhibit Four to the related Custodial Agreement, and Agreement signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the Xxxxx Fargo Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Grantor Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Grantor Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer and the Grantor Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Grantor Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Xxxxx Fargo Servicing Agreement, the Grantor Trustee shall execute such documents as shall be prepared and furnished to the Grantor Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Grantor Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Grantor Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Grantor Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached of Exhibit Four to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian's possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Grantor Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Grantor Trustee or the Trustee, Custodian to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-2), Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable related Servicer will (or if the applicable such Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer an Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer an Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable related Servicer the related Mortgage File. Upon Within three (3) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable related Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Accountrelated Custodial Account unless determined to be a Servicing Advance. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement or the applicable Servicing Agreement, as applicable, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master related Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the within three (3) Business Days following written request of a Servicer or the Master related Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer an Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officeran Authorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master related Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the related Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer an Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-3), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any LoanHELOC, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of Indenture Trustee and the Trustee, Custodian two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable such Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the LoanHELOC, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan HELOC and in accordance with the applicable Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Indenture Trustee and the Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related such Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Loan HELOC shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Saco I Trust 2005-Gp1), Sale and Servicing Agreement (Saco I Trust 2005-Gp1)

Release of Mortgage Files. (a) Upon (i) becoming aware of a Payoff with respect to the payment in full of any Loan, Mortgage Loan or (ii) the receipt by any the Servicer of a notification that a Payoff payment in full has been or will be escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Datepurposes, the applicable Servicer will (or if promptly notify the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed Indenture Trustee by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer certification (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Collection Account maintained by the applicable Servicer Trust Administrator pursuant to its Servicing Agreement Section 4.07 have been or will be so deposited) of a Servicing Officer and shall request that the applicable Custodian, on behalf of the Trustee, Indenture Trustee to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing AgreementMortgage Loan, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a Servicer or the Master Servicer (in a form reasonably acceptable to the Indenture Trustee) and as are necessary to for the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies Indenture Trustee of a request for release trust receipt signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, Indenture Trustee when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File trust receipt shall be released by the applicable Custodian, on behalf of Indenture Trustee to the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Indymac Abs Inc), Sale and Servicing Agreement (Indymac MBS Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to related Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to of Exhibit D (or as otherwise provided in the related Custodial Agreement, and ) hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Section 4.01 or by the applicable Servicer pursuant to the applicable Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution applicable Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, upon written instruction from such Servicer or the Master Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Prime Mortgage Trust 2007-3)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, upon written instruction from such Servicer or the Master Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer an Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer an Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within three (3) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountCustodial Account unless determined to be a Servicing Advance. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the within three (3) Business Days following written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer an Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officeran Authorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer an Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He1), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Xxxxx Fargo Servicing Agreement, promptly furnish to the applicable Custodian, Indenture Trustee or the Custodian on its behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the Xxxxx Fargo Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Xxxxx Fargo Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, Indenture Trustee or the Custodian on behalf of the Trusteeits behalf, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Bear Stearns ARM Trust 2006-1), Sale and Servicing Agreement (Bear Stearns ARM Trust 2006-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Company or the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Company or a Servicer (pursuant to the related Servicing Agreement), as applicable, will (or if the applicable Company or the Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit G hereto signed by a Servicing Officer or Master Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer or Master Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Company pursuant to Article V or by the related Servicer pursuant to its the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Company or the Servicer or the Master Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Company or the Servicer or the Master Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Company or the Servicer is authorized authorized, to give, as agent for the Trustee, Trustee as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse, representation or warranty) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with this Agreement and the applicable related Servicing Agreement, as applicable, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Company, the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable related Custodian, on behalf of the Trustee, shall, pursuant to the related Custodial Agreement, upon the request of a the Company, the Servicer or the Master Servicer, and delivery to the applicable related Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer or Master Servicing Officer, as applicable, substantially in the form attached to the related Custodial Agreement of Exhibit G (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer or Master Servicing Officer, as applicable), release the related Mortgage File held in its possession or control to the related Company, the Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Company, the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer or Master Servicing Officer, as applicable similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Company, the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (SACO I Trust 2005-10), Pooling and Servicing Agreement

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable related Servicer will (or if the applicable Servicer does not, the Master Servicer may)shall, if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, Indenture Trustee or the related Custodian on its behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which willshall, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable related Servicer pursuant to its the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, related Custodian to deliver to the applicable related Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the related Custodian to release the related Mortgage File to the applicable related Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a Servicer the Servicers or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a Servicer the Servicers or the Master Servicer, and delivery to the applicable Custodian, Indenture Trustee or the related Custodian on behalf of the Trusteeits behalf, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which willshall, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the related Custodian to release the related Mortgage File held in its or the related Custodian’s possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The related Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the related Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, related Custodian to such the related Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Bear Stearns ARM Trust 2007-2), Sale and Servicing Agreement (Alesco Financial Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, ) promptly furnish to the applicable Trustee if required by the Servicing Agreement and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer an Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer an Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer an Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officeran Authorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer an Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Wf1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Wf1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Indenture Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Indenture Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian's possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the Servicer or the Master Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Homebanc Mortgage Trust 2004-1), Sale and Servicing Agreement (Structured Asset Mortgage Investments II Inc., HomeBanc Mortgage Trust 2004-2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the applicable Servicer will Servicing Agreement (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates, Series 2004-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the related Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders Noteholders on the next Distribution Payment Date, the applicable related Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable related Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Indenture Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit B hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable such Servicer pursuant to its the related Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Indenture Trustee deliver or cause the Trustee, Custodian to deliver to the applicable such Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Indenture Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable related Servicer and the Indenture Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the related Servicer is authorized authorized, to give, as agent for the Indenture Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable related Servicing Agreement, the Indenture Trustee shall execute such documents as shall be prepared and furnished to the Indenture Trustee by a Servicer the Servicers or the Master Servicer (in form reasonably acceptable to the Indenture Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Indenture Trustee shall, upon the request of a the related Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Indenture Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit B (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The related Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Indenture Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related such Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of Indenture Trustee or the Trustee, Custodian to such the related Servicer or the Master Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bear Stearns ARM Trust 2005-7)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement attached to the signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Master Servicer Collection Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2002-He2)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies one copy of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit F hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Servicing Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, Trustee or the Custodian on behalf of the Trustee, Trustee deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of Trustee shall cause the Trustee, shall Custodian to promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Servicing Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee shall cause the Custodian, upon the request of the Servicer, and upon delivery to the Trustee (or the Custodian, on behalf of the Trustee, shall, upon the request ) of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies one copy of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit F (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of to the Trustee, to such Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling Agreement (HarborView Mortgage Loan Trust 2005-9)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to any Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such the related Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related such Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-4)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under by the applicable Servicing Agreement, promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release substantially in the form attached to the related Custodial Agreement, and Agreement signed by a Servicing Officer an Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer an Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within three (3) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable the Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution AccountProtected Account unless determined to be a Servicing Advance. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the within three (3) Business Days following written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer an Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officeran Authorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer an Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Wf1)

Release of Mortgage Files. (a) Upon becoming aware If the Primary Servicer requires for purposes of performing its servicing duties hereunder all or any portion of a Payoff with respect to any Loan, or the receipt by any Servicer of a notification that a Payoff has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution DateMortgage File, the applicable Primary Servicer will (or if the applicable Servicer does not, shall request delivery thereof from the Master Servicer may), in substantially the same manner as the Master Servicer shall be required to make the request from the Trustee and shall otherwise fulfill the obligations of the Master Servicer under Section 3.10 of the Pooling and Servicing Agreement in respect of such request as if required under the applicable Servicing Primary Servicer were the Master Servicer thereunder. Notwithstanding any other provisions of this Agreement, promptly furnish the Primary Servicer shall transmit to the Master Servicer, to the extent required by this Agreement, all documents and instruments relating to the applicable CustodianMortgage Loan coming into the possession of the Primary Servicer, from time to time and shall account fully to the Master Servicer for any funds received or otherwise collected thereby, including Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Loan documents and funds collected or held by, or under the control of, the Primary Servicer in respect of the Mortgage Loans serviced hereunder other than the Xxxxx Center Companion Loan, whether from the collection of principal and interest payments or from Liquidation Proceeds or Insurance Proceeds or otherwise, including any funds on deposit in the Primary Servicer Account, shall be held by the Primary Servicer for and on behalf of the Trustee, two copies of a request for release substantially in Trustee and the form attached to the related Custodial Agreement, and signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) Certificateholders and shall request that be and remain the applicable Custodian, on behalf sole and exclusive property of the Trustee, deliver subject to the applicable provisions of this Agreement and the Pooling and Servicing Agreement. The Primary Servicer agrees that it shall not create, incur or subject any such Mortgage Loan documents or any funds that are deposited in the related Mortgage File. Upon receipt of such certification and requestPrimary Servicer Account, the applicable CustodianCompanion Servicer Account or any escrow account, on behalf or any funds that otherwise are or may become due or payable to the Primary Servicer, except to the extent, if any, of the Trustee, shall promptly release portion of the related Mortgage File interest therein that is allocable to the applicable Servicer Sub-Servicing fee due and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoff, each Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject payable to the MortgagePrimary Servicer, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Master Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of setoff against any Mortgage Loan documents or any funds collected on, or in connection with, a Mortgage Loan serviced hereunder, except, however, that the Primary Servicer shall be entitled to receive from any such funds any amounts that are properly due and payable to the Primary Servicer or the Master Servicerunder this Agreement.

Appears in 1 contract

Samples: Sub Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2006-C1 Trust)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any the Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to the related Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Trustee and the Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit H hereto signed by a Servicing Officer Authorized Servicer Representative or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer Authorized Servicer Representative (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Custodial Account maintained by the applicable Servicer pursuant to its Servicing Agreement Article V have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon Within five (5) Business Days of receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the related Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing this Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the written request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer Authorized Servicer Representative substantially in the form attached to the related Custodial Agreement of Exhibit H (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing OfficerAuthorized Servicer Representative), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer such Person no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer Authorized Servicer Representative similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2004-Ar1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will will, if required (or if the applicable Servicer does not, the Master Servicer may), if required ) under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) . From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Release of Mortgage Files. (a) Upon becoming aware the payment in full of a Payoff with respect to any Loan, Mortgage Loan or the receipt by any Servicer escrow of a notification that a Payoff has been escrowed such amount in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Master Servicer will (or if the applicable Servicer does not, the Master Servicer may), if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Trustee two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Master Servicer pursuant to its Servicing Agreement have been or will be so depositeddeposited or escrowed) and shall request that the applicable Custodian, on behalf of the Trustee, Trustee deliver to the applicable Master Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release the related Mortgage File to the applicable Master Servicer and the Trustee and applicable Custodian shall have no any further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Master Servicer is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Loan and in accordance with the applicable Servicing AgreementMortgage Loan, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such Servicer or the Master Servicer. (c) The Trustee shall execute and deliver to the Master Servicer any court pleadings, requests for trustee's sale or other documents furnished to the Trustee necessary or advisable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity. Together with such documents or pleadings the Master Servicer shall deliver to the Trustee a certificate of a Servicing Officer in which it requests the Trustee to execute the pleadings or documents. The certificate shall certify and explain the reasons for which the pleadings or documents are required. It shall further certify that the Trustee's execution and delivery of the pleadings or documents will not invalidate any insurance coverage under the Required Insurance Policies or invalidate or otherwise affect the lien of the Security Instrument, except for the termination of such a lien upon completion of the foreclosure or trustee's sale.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or upon the receipt by any the Servicer or the Subservicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)Subservicer will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, Trustee two copies of a request for release certification substantially in the form attached of Exhibit D to the related Custodial Servicing Agreement, and signed by a Servicing Officer Officer, or in a mutually agreeable electronic format which that will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Custodial Account maintained by the applicable Servicer or the Subservicer pursuant to its the Servicing Agreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of Trustee deliver or cause the Trustee, Custodian to deliver to the applicable Servicer or the Subservicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, Trustee shall promptly release or cause the Custodian to release the related Mortgage File to the applicable Servicer or the Subservicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer or the Subservicer, as the case may be, is authorized to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Loanrelated Mortgage, an instrument of satisfaction (or assignment of mortgage Assignment without recourse) regarding the related Mortgaged Property subject to the MortgageProperty, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Custodial Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Subservicer, the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, Trustee shall, upon the request of a the Subservicer, the Servicer or the Master Servicer, Servicer and delivery to the applicable Custodian, on behalf of the Trustee, Trustee of two copies of a request for release signed by a Servicing Officer or Master Servicing Officer, as applicable, substantially in the form attached of Exhibit D to the related Custodial Servicing Agreement (or in a mutually agreeable electronic format which that will, in lieu of a signature on its face, originate from a Servicing Officer or Master Servicing Officer, as applicable), release or cause the Custodian to release the related Mortgage File held in its or the Custodian’s possession or control to the related Subservicer, the Servicer or the Master Servicer, as applicable. Such request for release shall obligate such The Subservicer, the Servicer or the Master Servicer shall be obligated to return the Mortgage File to the applicable Trustee or the Custodian on behalf of the Trustee, when the need therefor by the related Subservicer, the Servicer or the Master Servicer Servicer, as it reasonably determines, no longer exists exists, unless (i) the Mortgage Loan shall be liquidatedhas been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited into the Custodial Account, in which case, upon receipt of a certificate of a Servicing Officer or Master Servicing Officer, as applicable, similar to that hereinabove specified, the Mortgage File shall be released by the applicable CustodianTrustee or the Custodian to the Subservicer, on behalf of the Trustee, to such Servicer or the Master Servicer, or (ii) such documents have been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer or the Subservicer has delivered to the Custodian a certificate of a Servicing Officer or Master Servicing Officer, as applicable, certifying as to the name and address of the Person to whom such documents were delivered and the purpose or purposes of such delivery.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (People's Financial Realty Mortgage Securities 2006-1)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of the Servicerof a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the applicable Servicer pursuant to its Servicing Agreement Section 4.01 or by the Servicer pursuant to the ServicingAgreement have been or will be so deposited) and shall request that the applicable Custodian, on behalf of the Trustee, deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and applicable Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each the Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution Protected Account. (b) . From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Custodian, on behalf of the Trustee, shall, upon the request of a the Servicer or the Master Servicer, and delivery to the applicable Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Custodian on behalf of the Trustee, when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, on behalf of the Trustee, to such the Servicer or the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Release of Mortgage Files. (a) Upon becoming aware of a Payoff with respect to the payment in full of any Mortgage Loan, or the receipt by any Servicer of a notification that a Payoff payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the applicable Servicer will (or if the applicable Servicer does not, the Master Servicer may)will, if required under the applicable Servicing Agreement, promptly furnish to the applicable Custodian, on behalf of the Trustee, two copies of a request for release certification substantially in the form attached to the related Custodial Agreement, and of Exhibit D hereto signed by a Servicing Officer servicing officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer servicing officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected related Servicer Account maintained by the applicable Servicer pursuant to Section 4.01 or by the applicable Servicer pursuant to its Servicing Agreement have been or will be so deposited) and shall request that the applicable Trustee (or the Custodian, on behalf of the Trustee, ) deliver to the applicable Servicer the related Mortgage File. Upon receipt of such certification and request, the applicable Trustee (or the Custodian, on behalf of the Trustee), shall promptly release the related Mortgage File to the applicable Servicer and the Trustee (and applicable Custodian the Custodian, if applicable) shall have no further responsibility with regard to such Mortgage File. Upon any such Payoffpayment in full, each Servicer is authorized authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Distribution related Servicer Account. (b) From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the applicable Servicing Agreement, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by a Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The applicable Trustee (or the Custodian, on behalf of the Trustee), shall, upon the request of a Servicer or the Master Servicer, and delivery to the applicable Trustee (the Custodian, on behalf of the Trustee), of two copies of a request for release signed by a Servicing Officer servicing officer substantially in the form attached to the related Custodial Agreement of Exhibit D (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officerservicing officer), release the related Mortgage File held in its possession or control to the related Servicer or the Master Servicer, as applicable. Such request for release trust receipt shall obligate such the Servicer or the Master Servicer to return the Mortgage File to the applicable Trustee (or the Custodian on behalf of the Trustee, ) when the need therefor by the related Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer servicing officer similar to that hereinabove specified, the Mortgage File shall be released by the applicable Custodian, Trustee (or the Custodian on behalf of the Trustee), to such the Servicer or the Master Servicer.

Appears in 1 contract

Samples: Trust, Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

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