Common use of Transfer of Books and Records Clause in Contracts

Transfer of Books and Records. All books, records, documents, files, and other information and data in the Servicer’s possession, pertaining to the Mortgage Loans, including all documents, records and reports relating to any pool in which any applicable Mortgage Loans are contained from the inception of the pool, or upon transfer of the servicing of any portion of the Mortgage Loans, are and shall at all times remain the property of the Owner. Upon termination of this Agreement with respect to one or more Mortgage Loans, subject to and in accordance with Accepted Servicing Practices, the Servicer shall transfer in accordance with the Owner’s and any transferee Servicer’s reasonable instructions at the Owner’s expense (or at the Servicer’s expense if this Agreement is terminated following a Servicer Event of Default), to the Owner or a designee of the Owner, the records held by the Servicer. The Servicer shall also, following termination of this Agreement with respect to all or any portion of the servicing, account for and turn over to the Owner all related funds collected and held by the Servicer for the Owner, which funds are the property of the Owner, net of all accrued but unpaid Servicing Fees and outstanding Servicing Advances and any other amounts payable to the Servicer under the terms of this Agreement (after deduction therefrom of any amounts owed to the Owner by the Servicer hereunder).