Removal of Mortgage Loans from Inclusion Under this Agreement Upon the Pass-Through The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, shall effect up to four Whole Loan Transfers or Pass-Through Transfers, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." On the Reconstitution Date, the Mortgage Loans transferred shall cease to be covered by this Agreement; provided, however, that, in the event that any Mortgage Loan transferred pursuant to this Section 9 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer or Pass-Through Transfer in accordance with this Section 9. In connection therewith the Company shall:
Removal of Mortgage Loans. Certificateholders holding 100% of the Certificate Percentage Interests of the Certificates may, by delivering a written request to the Owner Trustee to such effect, cause the removal of Mortgage Loans from the Trust Estate in accordance with the provisions of Section 3.15(c) of the Servicing Agreement. Promptly following receipt of any such request, the Owner Trustee shall deliver to the Servicer the written notice and request required to be delivered to the Servicer pursuant to Section 3.15(c) of the Servicing Agreement. Any Mortgage Loans removed from the Trust Estate pursuant to Section 3.15(c) of the Servicing Agreement shall be property of the Issuer and, upon the written request of the Certificateholders holding 100% of the Certificate Percentage Interests of the Certificates, be released to the Certificateholders as a dividend and in accordance with the written instructions of such Certificateholders.
Removal of Mortgage Loans. Subject to and in accordance with Section 3.22 of the Servicing Agreement, the Issuer may notify the Owner Trustee of its direction to the Servicer to remove Mortgage Loans from the Trust Estate. Promptly following receipt of any such request, the Owner Trustee shall deliver to the Servicer the written notice and request required to be delivered to the Servicer pursuant to Section 3.22 of the Servicing Agreement. Any Mortgage Loans removed from the Trust Estate pursuant to Section 3.22 of the Servicing Agreement shall be property of the Issuer and, upon the written request of the Certificateholders holding 100% of the Certificate Percentage Interests of the Certificates, be released to the Certificateholders as a dividend and in accordance with the written instructions of such Certificateholders.
Removal of Mortgage Loans from Inclusion Under this Agreement Upon a Whole Loan Transfer or a Pass-Through Transfer on One or More Reconstitution Dates
Removal of Mortgage Loans from Inclusion under this Agreement upon a Whole Loan Transfer or a Pass-Through Transfer. The Servicer acknowledges and the Owner agrees that with respect to some or all of the Mortgage Loans, the Owner may effect either (1) one or more Whole Loan Transfers, or (2) one or more Pass-Through Transfers. The Servicer shall cooperate with the Owner in connection with any Whole Loan Transfer or Pass-Through Transfer contemplated by the Owner pursuant to this Section. In connection therewith, and without limitation, the Owner shall deliver any reconstitution agreement or other document related to the Whole Loan Transfer or Pass-Through Transfer to the Servicer at least 15 days prior to such transfer (or 30 days if such transfer is to take place in March, June, September or December) and the Servicer shall execute any such reconstitution agreement which contains provisions substantially similar to those herein or otherwise reasonably acceptable to the Owner and the Servicer and which restates the representations and warranties contained in Article III as of the date of transfer (except to the extent any such representation or warranty is not accurate on such date). With respect to each Whole Loan Transfer or Pass--Through Transfer, as the case may be, effected by the Owner, Owner (i) shall reimburse Servicer for all reasonable out-of-pocket third party costs and expenses related thereto and (ii) shall pay Servicer a reasonable amount representing time and effort expended by Servicer related thereto (which amount shall be reasonably agreed upon by Servicer and Owner prior to the expenditure of such time and effort); provided, however, that for each Whole Loan Transfer and/or Pass--Through Transfer, the sum of such amounts described in subsections (i) and (ii) above shall in no event exceed $5,000. For purposes of this paragraph, all Whole Loan Transfers and/or Pass--Through Transfers made to the same entity within the same accounting cycle shall be considered one Whole Loan Transfer or Pass--Through Transfer. All Mortgage Loans not sold or transferred pursuant to a Whole Loan Transfer or Pass-Through Transfer shall be subject to this Agreement and shall continue to be serviced in accordance with the terms of this Agreement and with respect thereto this Agreement shall remain in full force and effect.
Removal of Mortgage Loans from Inclusion under This Agreement Upon a Whole Loan Transfer or a Pass-Through Transfer on One or More Reconstitution Dates. The Sellers, the Servicer and the Initial Purchaser agree that with respect to some or all of the Mortgage Loans, the Initial Purchaser may effect either:
Removal of Mortgage Loans from Inclusion under this Agreement upon a Securitization Transaction. The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Transfers or Securitization Transactions, retaining the Company as the Servicer thereof or subservicer if a master servicer is employed, or as applicable the “seller/servicer.” From and after the Reconstitution Date, the Mortgage Loans transferred shall remain covered by this Agreement, insofar as the Company shall continue to service such Mortgage Loans on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Transfer or Securitization Transaction in accordance with this Section 9.01. In connection therewith:
Removal of Mortgage Loans from Inclusion Under this Agreement Upon the Securitization Transaction The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Sales or Securitization Transactions, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." On the Reconstitution Date, the Mortgage Loans transferred may cease to be covered by this Agreement; provided, however, that, in the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement.
Removal of Mortgage Loans from Inclusion under this Agreement Upon a Whole Loan Transfer or a Pass-Through Transfer on One or More Reconstitution Dates. The Servicer and the Owner agree that with respect to some or all of the Mortgage Loans, the Owner may effect either one or more Whole Loan Transfers and/or one or more Pass-Through Transfers, retaining the Servicer as the servicer thereof or subservicer if a master servicer is employed. At the election of the Owner, from and after the Reconstitution Date, the Mortgage Loans transferred shall remain covered by this Agreement, insofar as the Servicer shall continue to service such Mortgage Loans on behalf of the Owner in accordance with the terms and provisions of this Agreement or shall be subject to a pooling and servicing agreement or a subservicing agreement containing customary secondary market servicing provisions with respect to mortgage loans that are subject to a rated mortgage loan securitization. With respect to each Whole Loan Transfer or Pass-Through Transfer, as the case may be, entered into by the Owner, the Servicer agrees:
Removal of Mortgage Loans from Inclusion under This Agreement -------------------------------------------------------------- Upon a Whole Loan Transfer or a Pass-Through Transfer on One -------------------------------------------------------------- or More Reconstitution Dates. ----------------------------- The Seller and the Initial Purchaser agree that with respect to some or all of the Mortgage Loans, the Initial Purchaser may effect either:
