Sale of the Mortgage Loans. (a) The Initial Mortgage Loans. Concurrently with the execution and delivery of this Agreement, the Seller, with respect to each Initial Mortgage Loan, hereby transfers to the Purchaser, without recourse, all of its right, title, and interest existing now or in the future in (1) each Mortgage Loan, including its Asset Balance (including all Additional Balances), the related Mortgage File, all property that secures the Mortgage Loan, and all collections received on it after the Cut-off Date (excluding payments due by the Cut-off Date); (2) property that secured a Mortgage Loan that is acquired by foreclosure or deed in lieu of foreclosure; (3) the Seller's rights under the hazard insurance policies; (4) all rights under any guaranty executed in connection with a Mortgage Loan; (5) all other assets included or to be included in the Trust for the benefit of the Noteholders and the Credit Enhancer; and (6) all proceeds of the foregoing.
Appears in 1 contract
Samples: Purchase Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-H)
