Common use of Removal of Mortgage Loans from Inclusion Under this Agreement Upon the Pass-Through Clause in Contracts

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:

Appears in 5 contracts

Samples: Lehman Brothers (Structured Asset Securities Corp Mor Pas THR Cer Ser 2002-8a), Lehman Brothers (Structured Asset Securities Corp Mor Pas THR Cer Se 2002-1a), Warranties and Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 03 2a)

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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 may effect up to four Whole Loan Transfers Transfers, Agency Sales 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 may 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 Transfer, Agency Sale or Pass-Through Transfer in accordance with this Section 9. In connection therewith the Company shall:

Appears in 3 contracts

Samples: And Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Lehman (Structured Adjustable Rate Mortgage Loan Trust Series 2005-18), Warranties and Servicing Agreement (Lehman Sarm 2005-5)

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 Transfers, Agency Sales 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 Transfer, Agency Sale or Pass-Through Transfer in accordance with this Section 9. In connection therewith the Company shall:

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-37a)

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 may effect up to four one or more Whole Loan Transfers or Pass-Through TransfersSecuritizations, retaining the Company or its subservicer 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 serviced by the Company pursuant to this AgreementAgreement as provided in this Section 9.01; provided, however, that, in the event that any Mortgage Loan transferred pursuant to this Section 9 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. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer or Pass-Through Transfer Securitization in accordance with this Section 99.01. In connection therewith the Company shall:

Appears in 1 contract

Samples: Sale and Servicing Agreement (Banc of America Funding 2006-H Trust)

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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 -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:

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3)

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