Common use of Retention of Interest Clause in Contracts

Retention of Interest. (a) Each of the Secured Parties acknowledges that the relevant Seller and the Guarantor each have an interest in the Shared Security to the extent of the Related Loan beneficially owned (or owned) by such Seller or the Guarantor, as the case may be. (b) Nothing in this Section 2.1 shall conflict with the obligations of the Seller to Perfect the sale of any Guarantor Purchased Loan in accordance with Article 7 of the Mortgage Sale Agreement. (c) Except to the extent that registered title to the Shared Security is permitted to remain with the Seller pursuant to the terms of the Mortgage Sale Agreement or any other Transaction Document, the Seller agrees to not transfer legal title to any Mortgage comprised in the Shared Security into its own name. (d) Except to the same extent the Seller is so permitted pursuant to the terms of the Servicing Agreement or any other Transaction Document (including in respect of the making of Product Switches or Additional Loan Advances and the determination of rates with respect to Variable Rate Loans), the Seller agrees not to amend or waive the terms of any Related Loan with a Borrower.

Retention of Interest. (a) Each of the Secured Parties acknowledges that the relevant Seller Seller, the Originator and the Guarantor each have an interest in the Shared Security to the extent of the Related Loan beneficially owned (or owned) by such Seller Seller, the Originator or the Guarantor, as the case may be. (b) Nothing in this Section 2.1 shall conflict with the obligations of the Seller to Perfect the sale of any Guarantor Purchased Loan in accordance with Article 7 of the Mortgage Sale Agreement. (c) Except to the extent that registered title to the Shared Security is permitted to remain with the Seller or the Originator pursuant to the terms of the Mortgage Sale Agreement, the B2B Mortgage Sale Agreement or any other Transaction Document, each of the Seller and the Originator agrees to not transfer legal title to any Mortgage comprised in the Shared Security into its own name. (d) Except to the same extent each of the Seller and the Originator, as applicable, is so permitted pursuant to the terms of the Servicing Agreement or any other Transaction Document Document, as applicable (including in respect of the making of Product Switches or Additional Loan Advances and the determination of rates with respect to Variable Rate Loans), each of the Seller and the Originator agrees not to amend or waive the terms of any Related Loan with a Borrower.

Retention of Interest. ‌ (a) Each of the Secured Parties acknowledges that the relevant Seller and the Guarantor each have an interest in the Shared Security to the extent of the Related Loan beneficially owned (or owned) by such Seller or the Guarantor, as the case may be. (b) Nothing in this Section 2.1 shall conflict with the obligations of the Seller to Perfect the sale of any Guarantor Purchased Loan in accordance with Article 7 of the Mortgage Sale Agreement. (c) Except to the extent that registered title to the Shared Security is permitted to remain with the Seller pursuant to the terms of the Mortgage Sale Agreement or any other Transaction Document, the Seller agrees to not transfer legal title to any Mortgage comprised in the Shared Security into its own name. (d) Except to the same extent the Seller is so permitted pursuant to the terms of the Servicing Agreement or any other Transaction Document (including in respect of the making of Product Switches or Additional Loan Advances and the determination of rates with respect to Variable Rate Loans), the Seller agrees not to amend or waive the terms of any Related Loan with a Borrower.