Security Releases; Confirmations Clause Samples

Security Releases; Confirmations. With respect to each Transaction, the related Seller shall deliver to the related Buyer no later than the related Purchase Date, one or more security release certifications, if applicable and in the form of Exhibit II hereto, certifying the release of any security interest of a third party which may have existed with respect to any of the Mortgage Loans subject to such Transaction immediately prior to such Purchase Date unless such Seller has delivered to the related Buyer a bailee letter evidencing such release, in form and substance reasonably acceptable to such Buyer.