Common use of Release, Satisfaction and Reconveyance Clause in Contracts

Release, Satisfaction and Reconveyance. Upon the payment in full of any Mortgage Loan, the Direct Servicer will be responsible for processing the reconveyance, satisfaction or release appropriate in the applicable jurisdiction or on the applicable Mortgage Registry System and any related documentation in accordance with Accepted Servicing Practices, including releasing the lien within the time and as required by applicable law.

Release, Satisfaction and Reconveyance. Upon the payment in full of any Mortgage Loan, the Direct Servicer will be responsible for processing the reconveyance, satisfaction or release appropriate in the applicable jurisdiction or on the applicable Mortgage Registry System and any related documentation in accordance with Accepted Servicing PracticesSection 5.5, including releasing the lien within the time and as required by applicable law.