TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower. 17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x and F1 by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio. 17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled. 17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause 21. 17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable: (a) the title number to each Property in respect of which a Mortgage is registered at H.M. Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and (b) The title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 3 contracts
Samples: Servicing Agreement (Permanent Mortgages Trustee LTD), Servicing Agreement (Permanent Mortgages Trustee LTD), Servicing Agreement (Permanent Mortgages Trustee LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower.
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Mxxxx'x and F1 by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Mortgages Trustee LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 14.1 The Servicer Mortgage Administrator shall keep the Title Deeds, Deeds and Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Mortgage Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries Issuer part with possession, custody or control of them otherwise than to a sub-Sub- contractor or delegate appointed pursuant to Clause 3.2 (Sub-contracts) or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual receipt from such third party of an undertaking to hold them such Title Deeds, Customer Files and receipts of notes of assignment to the order of the Servicer Mortgage Administrator (who in turn will hold them to the order of the Mortgages Trustee (as trustee for Issuer and the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the BorrowerOriginator Beneficiary).
17.2 14.2 The Title Deeds and Customer Files relating to the Mortgage Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds and customer files relating to other properties and mortgages and standard securities in respect of which the Servicer Mortgage Administrator is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x and F1 by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfoliomortgage administrator.
17.3 14.3 The Servicer Mortgage Administrator shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Mortgage Loans and Mortgages in the Mortgage Portfolio to the Mortgages TrusteeIssuer, the BeneficiariesOriginator Beneficiary, the Security Trustee and their respective agents at all reasonable times and upon reasonable prior written notice. The Servicer Mortgage Administrator acknowledges that the Title Deeds and Customer Files relating to the Mortgage Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for Issuer and the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), Originator Beneficiary and that it has, in its capacity as ServicerMortgage Administrator, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) Mortgage Administrator irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 14.4 The Servicer Mortgage Administrator shall, forthwith on the termination delegation of the appointment of the Servicer Mortgage Administration Services pursuant to Clause 2117 (Delegation), deliver the Title Deeds and Customer Files in its possession, custody or control or that of its subSub-contractors or agents to or to the order of the Mortgages Trustee or Back-Up Mortgage Administrator or, if the Back-Up Mortgage Administrator is unable to be appointed as delegate Mortgage Administrator, such other person as the Mortgages Trustee Issuer elects as a substitute servicer delegate Mortgage Administrator in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause 21Agreement.
17.5 14.5 The Servicer Mortgage Administrator undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) practicable the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit Appendix to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably requestOriginator Trust Deed.
Appears in 1 contract
Samples: Mortgage Administration Agreement
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Funding 1 Security Trustee, the Funding 2 Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Funding (No. 2) LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable endeavours xxxxxxxurs to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Funding 1 Security Trustee, the Funding 2 Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Funding (No. 2) LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable endeavours enxxxxxxxs to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Mortgages Trustee LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Xxxxx'x and F1 by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Funding 1 Security Trustee, the Funding 2 Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower.
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable reasonablx endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Financing (No. 5) PLC)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by FitchFxxxx, the xhe Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Funding 1 Security Trustee, the Funding 2 Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Funding (No. 2) LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable endeavours endxxxxxxx to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Mortgages Trustee LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower.
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 [A-1] by S&P and P-1 [P-1] by Xxxxx’x Xxxxx'x and F1 [F1] by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Financing (No. 6) PLC)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower.
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable endeavours to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Mortgages Trustee LTD)
TITLE DEEDS AND CUSTOMER FILES. 17.1 The Servicer shall keep the Title Deeds, Customer Files and (where applicable) Insurance Policies and the receipt of notes of assignment relating to the Portfolio in safe custody and shall not without the prior written consent of the Mortgages Trustee and the Beneficiaries part with possession, custody or control of them otherwise than to a sub-contractor or delegate appointed pursuant to Clause CLAUSE 3.2 or to a solicitor, licensed conveyancer, qualified conveyancer or authorised practitioner, subject to the usual undertaking to hold them to the order of the Servicer (who in turn will hold them to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries) or to H.M. the Land Registry or Registers of Scotland or, upon redemption of the relevant Loan, to the order of the Borrower).
17.2 The Title Deeds and Customer Files relating to the Portfolio shall be kept in such manner so that a computer record is maintained of their location and they are identifiable and retrievable by reference to an account number and pool identifier and identifiable and distinguishable from the title deeds relating to other properties and mortgages and standard securities in respect of which the Servicer is mortgagee or heritable creditor or servicer. In the event of receipt by the Servicer of notice that the short-term, unsecured, unsubordinated and unguaranteed debt of the Servicer is rated less than A-1 by S&P and P-1 by Xxxxx’x Moody's and F1 by Fitch, the Servicer shall use reasonable endeavours enxxxxxxxs to ensure that the Title Deeds are identified as distinct from the title deeds of other properties and mortgages and standard securities which do not form part of the Portfolio.
17.3 The Servicer shall provide access or procure that access is provided to the Title Deeds, Customer Files and other records relating to the administration of the Loans and Mortgages in the Portfolio to the Mortgages Trustee, the Beneficiaries, the Security Trustee and their respective agents at all reasonable times and upon reasonable written notice. The Servicer acknowledges that the Title Deeds and Customer Files relating to the Portfolio in its possession, custody or control will be held to the order of the Mortgages Trustee (as trustee for the Beneficiaries) or in the case of Scottish Loans, to the order of the Seller, in its capacity as trustee for the Mortgages Trustee (as trustee for the Beneficiaries), and that it has, in its capacity as Servicer, no beneficial interest therein and the Servicer (in its capacity as such but not in its capacity as a Beneficiary) irrevocably waives any rights or any Security Interest which it might have therein or to which it might at any time be entitled.
17.4 The Servicer shall, forthwith on the termination of the appointment of the Servicer pursuant to Clause CLAUSE 21, deliver the Title Deeds and Customer Files in its possession, custody or control or that of its sub-sub- contractors or agents to or to the order of the Mortgages Trustee or to such person as the Mortgages Trustee elects as a substitute servicer in accordance with the terms of this Agreement upon written request by the Mortgages Trustee made at any time on or after notice of, or on or after, termination of the appointment of the Servicer pursuant to Clause CLAUSE 21.
17.5 The Servicer undertakes that it will use all reasonable efforts to obtain as soon as reasonably practicable:
(a) the title number to each Property in respect of which a Mortgage is registered at H.M. the Land Registry to the extent that such title number does not appear in the Exhibit to the Mortgage Sale Agreement (or, as the case may be, the Schedule to the relevant New Portfolio Notice); and
(b) The the title number to each Property in respect of which a Mortgage is registered in the Land Register of Scotland to the extent that such title number does not appear in the Schedule to the relevant New Portfolio Notice. The Servicer shall include in the quarterly report to be delivered in accordance with Clause CLAUSE 12.4 of this Agreement (i) details of such title numbers relating to the Initial Portfolio as are then known to the Servicer at the time of such report and (ii) details of such title numbers relating to any New Loans purchased from the Seller as are then known to the Seller at the time of such report, together with such other information relating thereto as the Mortgages Trustee may reasonably request.
Appears in 1 contract
Samples: Servicing Agreement (Permanent Financing (No. 8) PLC)