Common use of Retransfers and Transfer Deficiencies Clause in Contracts

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the Loan Pool Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate entries in its gexxxxl account records to reflect the transfer promptly following the transfer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (CWHEQ, Inc.), Sale and Servicing Agreement (CWHEQ, Inc.)

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Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate maxx xppropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-E), Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-F)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any such Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate maxx xppropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-H), Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-G)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the Loan Pool Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark xxxx its Electronic Ledger and make appropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-G), Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-E)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate maxx xppropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2005-I), Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2005-J)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate entries in its gexxxxl genexxx account records to reflect the transfer promptly following the transfer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-F), Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-B)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark xxxx its Electronic Ledger and make appropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-D)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the Loan Pool Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate makx xxpropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-A)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the Loan Pool Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark mxxx its Electronic Ledger and make appropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-D)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate entries in its gexxxxl gxxxxal account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-G)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark xxxx its Electronic Ledger and make appropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2006-C)

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Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate makx xxpropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2006-D)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall either (i) transfer to the Trust within five Business Days Eligible Substitute Mortgage Loans (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or and deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"), or (ii) deposit into the Collection Account the amount of the Transfer Deficiency (such deposit also referred to as a "Transfer Deposit Amount.") (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate maxx xppropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2005-K)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any such Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark xxxx its Electronic Ledger and make appropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ, Inc.)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the Loan Pool Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate entries in its gexxxxl account generxx xccount records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-C)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate entries in its gexxxxl genexxx account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ, Inc.)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer Deficiency. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark xxxx its Electronic Ledger and make appropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-E)

Retransfers and Transfer Deficiencies. (a) The Indenture Trustee shall determine if reducing the relevant Loan Pool Group Balance by the Asset Balance of any retransferred Mortgage Loan pursuant to Section 2.02(a2.02(b) or 2.04(d) would cause a Transfer DeficiencyDeficiency for the related Loan Group. If so, the Indenture Trustee shall notify the Sponsor of the deficiency, and the Sponsor shall transfer to the Trust within five Business Days (but only if the transfer occurs within two years of the Closing Date) Eligible Substitute Mortgage Loans or deposit into the Collection Account an amount in immediately available funds equal to the amount of the Transfer Deficiency reduced by the Asset Balance of any Eligible Substitute Mortgage Loans transferred to the Trust (the "Transfer Deposit Amount"). (b) The Sponsor shall deliver to the Indenture Trustee any documents required to be held by the Indenture Trustee in accordance with Section 2.01 with respect to any Eligible Substitute Mortgage Loans. (c) All amounts received on Eligible Substitute Mortgage Loans during the Collection Period in which the circumstances giving rise to their transfer to the Trust occur shall not be a part of the Trust and shall not be deposited by the Master Servicer in the Collection Account. All amounts received on a removed Defective Mortgage Loan during the Collection Period in which the circumstances giving rise to its transfer to the Trust occur shall be a part of the Trust and shall be deposited by the Master Servicer in the Collection Account. (d) An Eligible Substitute Mortgage Loan will be subject to the terms of this Agreement in all respects when transferred to the Trust, and the Sponsor hereby makes the representations, warranties, and covenants in Section 2.04 with respect to the Eligible Substitute Mortgage Loan as of the date of its transfer to the Trust. (e) Promptly following the transfer of any Eligible Substitute Mortgage Loan to the Trust pursuant to this Section, the Master Servicer shall amend the Mortgage Loan Schedule, deliver the amended Mortgage Loan Schedule to the Indenture Trustee, and make appropriate entries in its general account records to reflect the transfer. The Sponsor shall appropriately mark its Electronic Ledger and make appropriate makx xxpropriate entries in its gexxxxl general account records to reflect the transfer promptly following the transfer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-C)

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