Common use of Sales and Securitizations Clause in Contracts

Sales and Securitizations. Subject to the servicing standards described in Section 4.1, the Servicer shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration that it may deem necessary and desirable in connection with the sale and/or Securitization of Eligible Mortgage Loans with the Seller or third-party purchasers. In connection with any Securitization of Eligible Mortgage Loans, in the event the Agent (on behalf of the Principals) receives securities from the Securitization Vehicle in exchange for the Eligible Mortgage Loans subject to such Securitization (“Securitization Securities”), the Servicer shall, on behalf of the Agent (on behalf of the Principals), arrange for the sale of such Securitization Securities. The Servicer shall use its best efforts to realize for the Agent (on behalf of the Principals) the market value for the Securitization Securities but shall have no liability to the Principals with respect to any Securitization or Securitization Security provided that the Servicer arranges for such Securitization or sale in good faith in accordance with the procedures utilized by the Servicer in connection with any Securitization and Securitization Securities held for its own account. The share of the proceeds of sale of any Securitization Security due the Principals and the proceeds of sale of any whole loan will be remitted to the Collection Account for application in accordance with the Repurchase Agreement. All mortgage loans not sold or transferred pursuant to a sale or Securitization shall continue to be serviced in accordance with the terms of this Agreement.

Sales and Securitizations. Subject to the servicing standards described in Section 4.1, the Servicer shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration that it may deem necessary and desirable in connection with the sale and/or Securitization of Eligible Mortgage Loans with the Seller or third-party purchasers. In connection with any Securitization of Eligible Mortgage Loans, in the event the Administrative Agent (on behalf of the PrincipalsOwners) receives securities from the Securitization Vehicle in exchange for the Eligible Mortgage Loans subject to such Securitization (“"Securitization Securities”"), the Servicer shall, on behalf of the Administrative Agent (on behalf of the PrincipalsOwners), arrange for the sale of such Securitization Securities. The Servicer shall use its best efforts to realize for the Administrative Agent (on behalf of the PrincipalsOwners) the market value for the Securitization Securities but shall have no liability to the Principals Owners with respect to any Securitization or Securitization Security provided that the Servicer arranges for such Securitization or sale in good faith in accordance with the procedures utilized by the Servicer in connection with any Securitization and Securitization Securities held for its own account. The share of the proceeds of sale of any Securitization Security due the Principals Owners and the proceeds of sale of any whole loan will be remitted to the Collection Administrative Agent and will be deposited into the Collateral Account for application in accordance with reduction of the Repurchase AgreementNet Investment. All mortgage loans not sold or transferred pursuant to a sale or Securitization shall continue to be serviced in accordance with the terms of this Agreement.

Sales and Securitizations. Subject to the servicing standards described in Section 4.1, the Servicer shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration that it may deem necessary and desirable in connection with the sale and/or Securitization of Eligible Mortgage Loans with the Seller or third-party purchasers. In connection with any Securitization of Eligible Mortgage Loans, in the event the Administrative Agent (on behalf of the PrincipalsOwners) receives securities from the Securitization Vehicle in exchange for the Eligible Mortgage Loans subject to such Securitization (“Securitization Securities”), the Servicer shall, on behalf of the Administrative Agent (on behalf of the PrincipalsOwners), arrange for the sale of such Securitization Securities. The Servicer shall use its best efforts to realize for the Administrative Agent (on behalf of the PrincipalsOwners) the market value for the Securitization Securities but shall have no liability to the Principals Owners with respect to any Securitization or Securitization Security provided that the Servicer arranges for such Securitization or sale in good faith in accordance with the procedures utilized by the Servicer in connection with any Securitization and Securitization Securities held for its own account. The share of the proceeds of sale of any Securitization Security due the Principals Owners and the proceeds of sale of any whole loan will be remitted to the Collection Administrative Agent and will be deposited into the Collateral Account for application in accordance with reduction of the Repurchase AgreementNet Investment. All mortgage loans not sold or transferred pursuant to a sale or Securitization shall continue to be serviced in accordance with the terms of this Agreement.