Common use of Transfer of Loans Clause in Contracts

Transfer of Loans. a. On or prior to the Closing Date, or the related Subsequent Transfer Date in the case of Subsequent Loans, the Originator shall deliver the Loan Files to the Trustee. The Trustee shall maintain the Loan Files at its office or with a duly appointed Xxxxxxxxx, who shall act as the agent of the Trustee on behalf of the Certificateholders. The Trustee may release a Loan File to the Servicer pursuant to Section 5.07. The Originator has filed a form UCC-1 financing statement regarding the sale of the Loans to the Seller, and shall file continuation statements in respect of such UCC-1 financing statement as if such financing statement were necessary to perfect the security interest granted pursuant to Section 2.01. The Originator shall take any other actions necessary to maintain the perfection of such security interest. b. The Originator has delivered to the Trustee an Opinion of Counsel to the effect that the execution and recording of the assignments of the mortgages, deeds of trust and security deeds securing the Loans is not necessary, in any jurisdiction other than the State of Maryland, to effect the assignment to the Trustee of the Originator's lien on the real property securing each Loan. The Originator will, or will cause the Trustee, at the Originator's expense, to file in the appropriate recording offices within 60 days of the Closing Date, each mortgage, deed of trust and security deed that encumbers real property located in Maryland.

Transfer of Loans. a. (a) On or prior to the Closing Date, Date or the related Subsequent Transfer Date in the case of Subsequent Loans, the Originator shall deliver the Loan Files to the Trustee. The Trustee shall maintain the Loan Files at its office or with a duly appointed Xxxxxxxxx, who shall act as the agent of the Trustee on behalf of the Certificateholders. The Trustee may release a Loan File to the Servicer pursuant to Section 5.07. The Originator has filed a form UCC-1 financing statement regarding the sale of the Loans to the Seller, and shall file continuation statements in respect of such UCC-1 financing statement as if such financing statement were necessary to perfect the security interest granted pursuant to Section 2.012.01(c). The Originator shall take any other actions necessary to maintain the perfection of such security interest. b. (b) The Originator has delivered shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust of the mortgage, deed of trust or security deed securing each Loan relating to real estate located in Maryland, and shall deliver to the Trustee an Opinion of Counsel to the effect that the execution and recording recordation of the assignments of the mortgages, deeds of trust and security deeds deeds, securing the Loans relating to real estate located in any State other than Maryland, is not necessary, in any jurisdiction other than the State of Maryland, necessary to effect the assignment to the Trustee of the Originator's lien on the real property securing each Loan. The Originator will, or will cause the Trustee, at the Originator's expense, to file in the appropriate recording offices within 60 days of the Closing Date, each mortgage, deed of trust and security deed that encumbers real property located in Marylandsuch Loans.

Transfer of Loans. a. On or prior to the Closing Date, or the related Subsequent Transfer Date in the case of Subsequent Loans, the Originator shall deliver the Loan Files to the Trustee. The Trustee shall maintain the Loan Files at its office or with a duly appointed Xxxxxxxxx, who shall act as the agent of the Trustee on behalf of the Certificateholders. The Trustee may release a Loan File to the Servicer pursuant to Section 5.07. The Originator has filed a form UCC-1 financing statement regarding the sale of the Loans to the Seller, and shall file continuation statements in respect of such UCC-1 financing statement as if such financing statement were necessary to perfect the security interest granted pursuant to Section 2.01. The Originator shall take any other actions necessary to maintain the perfection of such security interest. b. The Originator has delivered shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust of the mortgage, deed of trust or security deed securing each Loan relating to real estate located in Maryland, and shall deliver to the Trustee an Opinion of Counsel to the effect that the execution and recording recordation of the assignments of the mortgages, deeds of trust and security deeds deeds, securing the Loans relating to real estate located in any state other than Maryland, is not necessary, in any jurisdiction other than the State of Maryland, necessary to effect the assignment to the Trustee of the Originator's lien on the real property securing each Loan. The Originator will, or will cause the Trustee, at the Originator's expense, to file in the appropriate recording offices within 60 days of the Closing Date, each mortgage, deed of trust and security deed that encumbers real property located in Marylandsuch Loans.

Transfer of Loans. a. (a) On or prior to the Closing Date, Date or the related Subsequent Transfer Date in the case of Subsequent Loans, the Originator shall deliver the Loan Files to the Trustee. The Trustee shall maintain the Loan Files at its office or with a duly appointed Xxxxxxxxx, who shall act as the agent of the Trustee on behalf of the Certificateholders. The Trustee may release a Loan File to the Servicer pursuant to Section 5.07. The Originator has filed a form UCC-1 financing statement regarding the sale of the Loans to the Seller, and shall file continuation statements in respect of such UCC-1 financing statement as if such financing statement were necessary to perfect the security interest granted pursuant to Section 2.012.01(c). The Originator shall take any other actions necessary to maintain the perfection of such security interest. b. (b) The Originator has delivered shall file promptly in the appropriate recording offices the assignments to the Trustee on behalf of the Trust of the mortgage, deed of trust or security deed securing each Loan relating to real estate located in Maryland, and shall deliver to the Trustee an Opinion of Counsel to the effect that the execution and recording recordation of the assignments of the mortgages, deeds of trust and security deeds deeds, securing the Loans relating to real estate located in any state other than Maryland, is not necessary, in any jurisdiction other than the State of Maryland, necessary to effect the assignment to the Trustee of the Originator's lien on the real property securing each Loan. The Originator will, or will cause the Trustee, at the Originator's expense, to file in the appropriate recording offices within 60 days of the Closing Date, each mortgage, deed of trust and security deed that encumbers real property located in Marylandsuch Loans.