Remedies for Breaches of Representations and Warranties with Respect to the Mortgage Loans. (a) Upon the removal of a Deleted Mortgage Loan and the substitution of a Substititute Mortgage Loan and the deposit to the related Collection Account of the amount required to be deposited therein in connection with such substitution, the Custodian shall release the Mortgage File held for the benefit of the Certificateholders relating to such Deleted Mortgage Loan to the applicable Mortgage Loan Seller and the Trustee, upon receipt of a Request for Release certifying that all amounts required to be deposited in accordance with this Section 2.03(a) have been deposited in the related Collection Account, shall execute and deliver at the applicable Mortgage Loan Seller’s direction such instruments of transfer or assignment prepared by the applicable Mortgage Loan Seller in each case without recourse, as shall be necessary to vest title in the applicable Mortgage Loan Seller of the Trustee’s interest in any Deleted Mortgage Loan substituted for pursuant to this Section 2.03.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He1), Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He2), Pooling and Servicing Agreement (HASCO Trust 2007-He2)
Remedies for Breaches of Representations and Warranties with Respect to the Mortgage Loans. (a) Upon the removal of a Deleted Mortgage Loan and the substitution of a Substititute Substitute Mortgage Loan and the deposit to the related Collection Account of the amount required to be deposited therein in connection with such substitution, the Custodian shall release the Mortgage File held for the benefit of the Certificateholders relating to such Deleted Mortgage Loan to the applicable Mortgage Loan Seller and the Trustee, upon receipt of a Request for Release certifying that all amounts required to be deposited in accordance with this Section 2.03(a) have been deposited in the related Collection Account, shall execute and deliver at the applicable Mortgage Loan Seller’s direction such instruments of transfer or assignment prepared by the applicable Mortgage Loan Seller in each case without recourse, as shall be necessary to vest title in the applicable Mortgage Loan Seller of the Trustee’s interest in any Deleted Mortgage Loan substituted for pursuant to this Section 2.03.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp), Pooling and Servicing Agreement (Hsi Asset Securitization Corp)
Remedies for Breaches of Representations and Warranties with Respect to the Mortgage Loans. (a) Upon the removal of a Deleted Mortgage Loan and the substitution of a Substititute Substitute Mortgage Loan and the deposit to the related Collection Account of the amount required to be deposited therein in connection with such substitution, the Custodian shall release the Mortgage File held for the benefit of the Certificateholders relating to such Deleted Mortgage Loan to the applicable Mortgage Loan Seller and the Trustee, upon receipt of a Request for Release certifying that all amounts required to be deposited in accordance with this Section 2.03(a) have been deposited in the related Collection Account, shall execute and deliver at the applicable Mortgage Loan Seller’s 's direction such instruments of transfer or assignment prepared by the applicable Mortgage Loan Seller in each case without recourse, as shall be necessary to vest title in the applicable Mortgage Loan Seller of the Trustee’s 's interest in any Deleted Mortgage Loan substituted for pursuant to this Section 2.03.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)
