Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release. (b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI MLSA, the GFC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release. (c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release. (d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans; (e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule. (f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FUL, as an Originator, GFC, as an Originator, GFI, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMIN, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZ, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originator, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1, Exhibit D-2, Exhibit D-3 and Exhibit D-4 (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 3 contracts
Samples: Custodial Agreement, Custodial Agreement (Sequoia Mortgage Trust 2012-6), Custodial Agreement (Sequoia Mortgage Trust 2012-6)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI GFC MLSA, the GFC GMC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MON MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FUL, as an Originator, GFC, as an Originator, GFIGMC, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMINMON, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZ, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originator, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1D-0, Exhibit D-2Xxxxxxx X-0, Exhibit D-3 Xxxxxxx X-0X-XX and Exhibit D-4 (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 2 contracts
Samples: Custodial Agreement (Sequoia Mortgage Trust 2012-4), Custodial Agreement (Sequoia Mortgage Trust 2012-4)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CAS MLSA, the CHE MLSA, the BEN MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL GFC MLSA, the GFI MLSA, the GFC GMC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MON MLSA, the PEM MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CAS, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FUL, as an Originator, GFC, as an Originator, GFIGMC, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMINMON, as an Originator, PEM, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZ, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originator, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1, Exhibit D-2, Exhibit D-3 D-3A-HH and Exhibit D-4 (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 2 contracts
Samples: Custodial Agreement (Sequoia Mortgage Trust 2012-5), Custodial Agreement (Sequoia Mortgage Trust 2012-5)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL FRB MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI MLSA, the GFC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA MLSA, or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FULFCM, as an Originator, GFC, as an Originator, GFI, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMIN, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZ, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originator, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1D-0, Xxxxxxx X-0, Xxxxxxx X-0X, Exhibit D-2D-3B, Exhibit D-3 D-3C, Exhibit D-3D, Exhibit D-3E, Exhibit D-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Exhibit D-3K, Exhibit D-3L, Exhibit D-3M, Exhibit D-3N and Exhibit D-4 D-3O hereof, respectively (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 2 contracts
Samples: Custodial Agreement (Sequoia Mortgage Trust 2012-2), Custodial Agreement (Sequoia Mortgage Trust 2012-2)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE CCM MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI MLSA, the GFC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA MLSA, or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHECCM, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FUL, as an Originator, GFC, as an Originator, GFI, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMIN, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZ, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originator, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1D-0, Xxxxxxx X-0, Xxxxxxx X-0X, Exhibit D-2D-3B, Exhibit D-3 D-3C, Exhibit D-3D, Exhibit D-3E, Exhibit D-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Exhibit D-3K, Exhibit D-3L, Exhibit D-3M, Exhibit D-3N, Exhibit D-3O, Exhibit D-3P, Exhibit D-3Q, Exhibit D-3R, Exhibit D-3S and Exhibit D-4 (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 2 contracts
Samples: Custodial Agreement (Sequoia Mortgage Trust 2012-3), Custodial Agreement (Sequoia Mortgage Trust 2012-3)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL FRB MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI MLSA, the GFC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA MLSA, or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FULFCM, as an Originator, GFC, as an Originator, GFI, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMIN, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZSPS, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originatora Servicer, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1X-0, Xxxxxxx X-0, Xxxxxxx X-0X, Exhibit D-2D-3B, Exhibit D-3 D-3C, Exhibit D-3D, Exhibit D-3E, Exhibit D-3F, Exhibit D-3G, Exhibit D-3H, Exhibit D-3I, Exhibit D-3J and Exhibit D-4 D-3K hereof, respectively (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 2 contracts
Samples: Custodial Agreement (Sequoia Mortgage Trust 2012-1), Custodial Agreement (Sequoia Mortgage Trust 2012-1)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI MLSA, the GFC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP STM MLSA, the WJ MLSA or the WMC MLSA WF MLSA, or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FUL, as an Originator, GFC, as an Originator, GFI, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMIN, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZSPS, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originatora Servicer, SSB, as an Originator, UMPSTM, as a Servicer and as an Originator, WJand WF, as an Originator a Servicer and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1D-0, Xxxxxxx X-0, Xxxxxxx X-0X, Exhibit D-2D-3B, Exhibit D-3 D-3C, Exhibit D-3D, Exhibit D-3E, Exhibit D-3F, Exhibit D-3G and Exhibit D-4 D-3H hereof, respectively (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 2 contracts
Samples: Custodial Agreement (Sequoia Mortgage Trust 2011-2), Custodial Agreement (Sequoia Mortgage Trust 2011-2)
Release of Mortgage Files. (a) Upon the payment in full of a Mortgage Loan and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(b) Upon the purchase or repurchase of any Mortgage Loan or the substitution of any Mortgage Loan pursuant to the APM MLSA, the BAY MLSA, the BCM MLSA, the BEN MLSA, the BP MLSA, the CHE MLSA, the CMC MLSA, the CSF MLSA, the CTB MLSA, the EHL MLSA, the EMM MLSA, the FAM MLSA, the FCL FRB MLSA, the FCM MLSA, the FID MLSA, the FIM MLSA, the FRB MLSA, the FRE MLSA, the FUL MLSA, the GFI MLSA, the GFC MLSA, the HNB MLSA, the LB MLSA, the MFC MLSA, the MMI MLSA, the PHH MLSA, the PL MLSA, the PLZ MLSA, the PRO MLSA, the PSB MLSA, the SBT MLSA, the SC MLSA, the SFS MLSA, the SSB MLSA, the UMP MLSA, the WJ MLSA or the WMC MLSA MLSA, or the Pooling and Servicing Agreement and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to or upon the order of the requesting party, as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(c) Upon the foreclosure of any Mortgage Loan or to facilitate modification, enforcement, and collection procedures with respect to any Mortgage Note and within two Business Days of its receipt of a Request for Release, the Custodian will either (i) release the related Mortgage File to the requesting party as directed in the Request for Release, or (ii) notify the requesting party in writing or in a mutually agreed upon electronic format of the Rejected Release Request and take no further action on the Request for Release.
(d) From time to time and as appropriate for the sale to a third party purchaser of any of the Mortgage Loans, the Custodian is hereby authorized, upon receipt of a Request for Release from a requesting party, to release or cause to be released to the related third party purchaser the Mortgage Loans set forth in such Request for Release together with a transmittal letter substantially in the form attached hereto as Exhibit H. Upon receipt of the payoff amount for such sale and notice thereof from the Securities Administrator, the Trustee will provide the Custodian written notification of its release of interest in such Mortgage Loans;
(e) Any Certification issued while any Mortgage File is held by a party other than the Custodian shall reflect that the Custodian holds such Mortgage File as custodian pursuant to this Custodial Agreement, but the Exception Report shall specify that the Custodian has released such Mortgage File to the Person specified therein pursuant to this Section 3.4. Upon receipt of a written certification from the Master Servicer or a Servicer to the Custodian that a Mortgage Loan has been liquidated, the Custodian shall thereupon reflect any such liquidation on its Mortgage Loan Schedule.
(f) Notwithstanding the foregoing and unless otherwise required by state law, as notified by the Master Servicer, in the event the Custodian receives a Request for Release within five (5) days of the Delivery Date, the Custodian shall have a reasonable period of time to release the Mortgage File in accordance with this Section 3.4. Each person initially authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Custodial Agreement on behalf of the Trustee, the Depositor, APM, as an Originator, BAY, as an Originator, BCM, as an Originator, BEN, as an Originator, BP, as an Originator, CHE, as an Originator, CEN, as a Servicer, CMC, as an Originator, CSF, as an Originator, CTB, as an Originator, EHL, as an Originator, EMM, as an Originator, FAM, as an Originator, FCL, as an Originator, FCM, as an Originator, FID, as an Originator, FIM, as an Originator, FRB, as a Servicer and as an Originator, FRE, as an Originator, FULFCM, as an Originator, GFC, as an Originator, GFI, as an Originator, HNB, as an Originator, LB, as an Originator, MFC, as an Originator, MMIN, as an Originator, PHH, as a Servicer and as an Originator, PL, as an Originator, PLZ, as an Originator, PRO, as an Originator, PSB, as an Originator, SBT, as an Originator, SC, as an Originator, SFS, as an Originator, SSB, as an Originator, UMP, as an Originator, WJ, as an Originator and WMC, as an Originator, or as the Master Servicer, is listed, together with the specimen signature for such person, on Exhibit D-1X-0, Xxxxxxx X-0, Xxxxxxx X-0X, Exhibit D-2D-3B, Exhibit D-3 D-3C, Exhibit D-3D, Exhibit D-3E, Exhibit X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Xxxxxxx X-0X, Exhibit D-3K, Exhibit D-3L, Exhibit D-3M, Exhibit D-3N and Exhibit D-4 D-3O hereof, respectively (each person so authorized from time to time, an “Authorized Representative”). From time to time, the Trustee, the Depositor, the Seller, the Master Servicer, a Servicer or an Originator may deliver to the Custodian a certification in the form of Exhibit C hereof, reflecting changes in the respective list of Authorized Representatives, but the Custodian shall be entitled to rely conclusively on the each current list of Authorized Representatives until receipt of a superseding certification in the form of Exhibit C hereof.
Appears in 1 contract
Samples: Custodial Agreement