Common use of SALE AND CONVEYANCE OF TRUST FUND; PRIORITY AND SUBORDINATION OF OWNERSHIP INTERESTS Clause in Contracts

SALE AND CONVEYANCE OF TRUST FUND; PRIORITY AND SUBORDINATION OF OWNERSHIP INTERESTS. (a) The Originators do hereby sell, transfer, assign, set over and convey to the Trustee (or, with respect to the Pool III Mortgage Loans and the Reserve Amount, the Co-Trustee) without recourse and for the benefit of the Certificateholders of the related Pool, subject to the terms of this Agreement, all of the right, title and interest of the Originators in and to the Initial Pool I, Initial Pool II, Initial Pool III and Initial Pool IV Mortgage Loans, all rights under the Reserve Amount relating to the Pool III Mortgage Loans and all other assets included or to be included in the Trust Fund. The Mortgage Loans that from time to time constitute part of the Trust Fund shall be divided into four separate sub-trusts, one for the Pool I Mortgage Loans, one for the Pool II Mortgage Loans, one for the Pool III Mortgage Loans and one for the Pool IV Mortgage Loans.

SALE AND CONVEYANCE OF TRUST FUND; PRIORITY AND SUBORDINATION OF OWNERSHIP INTERESTS. (a) The Originators do hereby sell, transfer, assign, set over and convey to the Trustee (or, with respect to the Pool III Mortgage Loans and the Reserve Amount, the Co-Trustee) without recourse and for the benefit of the Certificateholders of the related Pool, subject to the terms of this Agreement, all of the right, title and interest of the Originators in and to the Initial Pool I, Initial Pool II, II and Initial Pool III and Initial Pool IV Mortgage Loans, all rights under the Reserve Amount relating to the Pool III Mortgage Loans and all other assets included or to be included in the Trust Fund. The Mortgage Loans that from time to time constitute part of the Trust Fund shall be divided into four three separate sub-trusts, one for the Pool I Mortgage Loans, one for the Pool II Mortgage Loans, Loans and one for the Pool III Mortgage Loans and one for the Pool IV Mortgage Loans.