Common use of Sale of Subsequent Loans to Grantor Trustee Clause in Contracts

Sale of Subsequent Loans to Grantor Trustee. The Transferor concurrently with the execution and delivery of this Subsequent Transfer Agreement, does hereby sell, transfer, assign, set over, and otherwise convey to the Grantor Trustee, without recourse but subject to the other terms and provisions of this Agreement and the Grantor Trust Agreement, all of its right, title and interest in and to the following, whether now existing or hereafter acquired and wherever located: (i) such Subsequent Loans as listed in the Subsequent Loan Schedule, as of the [_________ 1, 199_] (the "Cut-Off Date"), together with the Servicer's Home Loan Files and the Grantor Trustee's Home Loan Files relating thereto and all proceeds thereof, (ii) the Mortgages and security interests in Mortgaged Properties, (iii) all payments in respect of interest due with respect to such Subsequent Loans on or after the Cut-Off Date and all payments in respect of principal received after the Cut-Off Date, (iv) the Transferor's rights under all insurance policies with respect to such Subsequent Loans and any Insurance Proceeds, and (v) all proceeds of any of the foregoing.

Sale of Subsequent Loans to Grantor Trustee. The Transferor concurrently with the execution and delivery of this Subsequent Transfer Agreement, does hereby sell, transfer, assign, set over, and otherwise convey to the Grantor Trustee, without recourse but subject to the other terms and provisions of this Agreement and the Grantor Trust Agreement, all of its right, title and interest in and to the following, whether now existing or hereafter acquired and wherever located: (i) such Subsequent Loans as listed in the Subsequent Loan Schedule, as of the [_________ --------- 1, 199_--] (the "Cut-Off Date"), together with the Servicer's Home Loan Files and the Grantor Trustee's Home Loan Files relating thereto and all proceeds thereof, (ii) the Mortgages and security interests in Mortgaged Properties, (iii) all payments in respect of interest due with respect to such Subsequent Loans on or after the Cut-Off Date and all payments in respect of principal received after the Cut-Off Date, (iv) the Transferor's rights under all insurance policies with respect to such Subsequent Loans and any Insurance Proceeds, and (v) all proceeds of any of the foregoing.