Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company shall execute instruments to release property from the terms of this Servicing Agreement, or convey the Company's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company as provided in this Article III shall be bound to ascertain the Company's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys. (b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation. (c) Upon Company Request accompanied by an Officers' Certificate of the Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.
Appears in 24 contracts
Samples: Servicing Agreement (MortgageIT Securities Corp.), Servicing Agreement (Salomon Brothers Mortgage Securities Vii Inc), Servicing Agreement (Long Beach Securities Corp)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.05, the Company or the related Custodian Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies copies, with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents held by the Custodian to the Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents held by the Custodian and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the such Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt to the Servicer.
Appears in 16 contracts
Samples: Servicing Agreement (GMACM Home Equity Loan Trust 2006-He3), Servicing Agreement (GMACM Home Equity Loan Trust 2006-He5), Servicing Agreement (GMACM Home Equity Loan Trust 2007-He2)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the ServicerMaster Servicer pursuant to the related Custodial Agreement, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate of for Release from the Servicer pursuant to Section 3.09 of this Servicing Agreement Master Servicer, to the effect that a Mortgage Home Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement. If such Mortgage Home Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the ServicerMaster Servicer pursuant to the related Custodial Agreement.
Appears in 10 contracts
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc), Servicing Agreement (Residential Funding Mortgage Securities Ii Inc), Servicing Agreement (Home Loan Trust 2004-Hi2)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the ServicerServicer pursuant to the related Custodial Agreement, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a "Request accompanied by an Officers' Certificate of for Release", in the form attached hereto as Exhibit C, from the Servicer pursuant to Section 3.09 of this Servicing Agreement (a "Request for Release"), to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the ServicerServicer pursuant to the related Custodial Agreement, which the Indenture Trustee shall execute, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory Request for Release to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer pursuant to the related Custodial Agreement. The Servicer shall return promptly to the Custodian the Related Documents when the Servicer's need therefor no longer exists, unless the related Loan has been liquidated. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate Request for Release from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt Request for Release to the ServicerServicer pursuant to the related Custodial Agreement.
Appears in 8 contracts
Samples: Servicing Agreement (Credit Suisse First Boston Mortgage Acceptance Corp), Servicing Agreement (PHH Mortgage Capital LLC), Servicing Agreement (Nomura Home Equity Loan, Inc.)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the such Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt to the Servicer.
Appears in 7 contracts
Samples: Servicing Agreement (Residential Asset Mortgage Products Inc), Servicing Agreement (Residential Asset Mortgage Prod Inc Gmacm Mor Ln Tr 2003-Gh1), Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the ServicerMaster Servicer pursuant to the related Custodial Agreement, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C, to the effect that a Mortgage Home Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement. If such Mortgage Home Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the ServicerMaster Servicer pursuant to the related Custodial Agreement.
Appears in 7 contracts
Samples: Servicing Agreement (Home Loan Trust 2006-Hi1), Servicing Agreement (Home Loan Trust 2007-Hi1), Servicing Agreement (Home Loan Trust 2006-Hi4)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Depositor shall execute instruments to release property from the terms of this Servicing Agreement, or convey the CompanyDepositor's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Depositor as provided in this Article III shall be bound to ascertain the CompanyDepositor's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company Depositor or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company Depositor or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Depositor or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Depositor Request accompanied by an Officers' Certificate of the Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Depositor shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company Depositor or the related Custodian to release the Related Documents and delivers to the Company Depositor or the related Custodian a trust receipt reasonably satisfactory to the Company Depositor or the related Custodian and signed by a Responsible Officer of the Servicer, the Company Depositor or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company Depositor or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company Depositor or the related Custodian shall release the trust receipt to the Servicer.
Appears in 6 contracts
Samples: Servicing Agreement (Opteum Mortgage Acceptance CORP), Servicing Agreement (MILA Mortgage Acceptance, Inc.), Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments furnished to them by the Servicer to release property from the terms of this Servicing Agreementthe Trust Agreement or Indenture, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.07 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or Upon receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to Request for Release from the Servicer, with a direction to substantially in the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' Certificate form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit D hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Indenture Trustee shall promptly release the execute such Related Documents furnished to the Servicerit, along with such documents as the Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.
Appears in 6 contracts
Samples: Servicing Agreement (Wachovia Asset Securitization Inc), Servicing Agreement (Wachovia Asset Sec Series 2004 - HE1), Servicing Agreement (Wachovia Asset Securitization Inc 2003-He2 Trust)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.05, the Company or the related Custodian Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Home Loan has been the subject of a final payment or a prepayment in full and the related Mortgage such Home Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents held by the Custodian to the Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Loan, the Servicer requests the Company or the related Custodian to release the Related Documents held by the Custodian and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the such Related Documents to the Servicer. If such Mortgage Home Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt to the Servicer.
Appears in 5 contracts
Samples: Servicing Agreement (GMACM Home Loan Trust 2006-Hltv1), Servicing Agreement (Residential Asset Mortgage Products Inc), Servicing Agreement (Residential Asset Mortgage Products Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company shall execute instruments to release property from the terms of this Servicing Agreement, or convey the Company's ’s interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company as provided in this Article III shall be bound to ascertain the Company's ’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' ’ Certificate of the Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.
Appears in 4 contracts
Samples: Servicing Agreement (Shellpoint Mortgage Acceptance LLC), Servicing Agreement (Ab Mortgage Securities Corp), Servicing Agreement (Long Beach Securities Corp)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.05, the Company or the related Custodian Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies copies, with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents held by the Custodian to the Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents held by the Custodian and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the such Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt to the Servicer.
Appears in 4 contracts
Samples: Servicing Agreement (Gmacm Home Equity Loan Trust 2004-He5), Servicing Agreement (Residential Asset Mort Prod Inc Gmacm Home Eq L N Tr 04 He2), Servicing Agreement (Gmacm Home Equity Loan Trust 2003-He2)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company shall execute instruments to release property from the terms of this Servicing Agreement, or convey the Company's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company as provided in this Article III shall be bound to ascertain the Company's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) . Upon Company Request accompanied by an Officers' Certificate of the Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.
Appears in 4 contracts
Samples: Servicing Agreement (Boardwalk Mortgage Securities Inc.), Servicing Agreement (Argent Securities Inc), Servicing Agreement (Park Place Securities, Inc.)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuing Entity or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuing Entity's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuing Entity or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuing Entity's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the ServicerServicer pursuant to the related Custodial Agreement, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a "Request accompanied by an Officers' Certificate of for Release", in the form attached hereto as Exhibit C, from the Servicer pursuant to Section 3.09 of this Servicing Agreement (a "Request for Release"), to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the ServicerServicer pursuant to the related Custodial Agreement, which the Indenture Trustee shall execute, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory Request for Release to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer pursuant to the related Custodial Agreement. The Servicer shall return promptly to the Custodian the Related Documents when the Servicer's need therefor no longer exists, unless the related Loan has been liquidated. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate Request for Release from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt Request for Release to the ServicerServicer pursuant to the related Custodial Agreement.
Appears in 3 contracts
Samples: Servicing Agreement (Deutsche Alt-a Securities Inc), Servicing Agreement (Nomura Asset Acceptance Corp), Servicing Agreement (Nomura Home Equity Loan, Inc.)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents document purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' Certificate receipt of two copies (one of which will be returned to the Servicer pursuant to Section 3.09 with the related Mortgage File) of this a Request for Release from the Servicer, substantially in the form of Exhibit C which shall be signed by a Servicing Agreement Officer or in a mutually agreeable format, which in lieu of a signature on its face will originate from a Servicing Officer, to the effect that a Mortgage Home Equity Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Equity Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Equity Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents related Mortgage File to the Servicer, along with such documents as upon request of the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage LoanServicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Equity Loan, the Servicer requests the Company or the related Custodian to release the Related Documents Mortgage File and delivers to the Company or the related Custodian two copies of a trust receipt Request for Release reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents related Mortgage File to the Servicer. If such Mortgage Home Equity Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt Mortgage File to the Servicer.
Appears in 3 contracts
Samples: Servicing Agreement (Morgan Stanley Abs Capital I Inc), Servicing Agreement (Morgan Stanley ABS Capital I Inc. MSDWCC HELOC Trust 2005-1), Servicing Agreement (Heloc Asset-Backed Notes Series 2003-2)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the ServicerMaster Servicer pursuant to the related Custodial Agreement, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate of for Release from the Servicer pursuant to Section 3.09 of this Servicing Agreement Master Servicer, to the effect that a Mortgage Home Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement. If such Mortgage Home Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the ServicerMaster Servicer pursuant to the related Custodial Agreement.
Appears in 2 contracts
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc), Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company 1996-RHS4 LLC or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Operating Agreement, or convey the Company1996- RHS4 LLC's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company 1996-RHS4 LLC or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company1996-RHS4 LLC's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C to the effect that a Mortgage Revolving Credit Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Revolving Credit Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer [NY01:240828.4] 16069-00382 12/20/96 12:15am 13 in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Revolving Credit Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Master Servicer, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Revolving Credit Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Revolving Credit Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Revolving Credit Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 2 contracts
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc), Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company shall execute instruments to release property from the terms of this Servicing Agreement, or convey the Company's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company as provided in this Article III shall be bound to ascertain the Company's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' Certificate of the Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.the
Appears in 2 contracts
Samples: Servicing Agreement (Long Beach Securities Corp), Servicing Agreement (Ameriquest Mortgage Securities Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding and no amounts due to the Credit Enhancer, release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 2 contracts
Samples: Indenture (Chase Manhattan Acceptance Corp /De/), Indenture (J P Morgan Acceptance Corp I)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Master Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Master Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Master Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Master Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Master Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding [and no amounts due to the Credit Enhancer], release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 2 contracts
Samples: Indenture (Directors Asset Conduit Corp), Indenture (Cwabs Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the Company's Issuer’s or the Indenture Trustee’s interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company's Issuer’s or the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.053.05 hereof, the Company or the related Custodian Master Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies copies, with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents held by the Custodian to the Master Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Master Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents held by the Custodian and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the such Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 2 contracts
Samples: Master Servicing Agreement (SG Mortgage Securities, LLC), Master Servicing Agreement (SG Mortgage Securities, LLC)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the Company's Issuer’s or the Indenture Trustee’s interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company's Issuer’s or the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.05, the Company or the related Custodian Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies copies, with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents held by the Custodian to the Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents held by the Custodian and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the such Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt to the Servicer.
Appears in 2 contracts
Samples: Servicing Agreement (Phoenix Residential Securities, LLC), Servicing Agreement (Gmacm Home Equity Loan Trust 2005-He1)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate of for Release from the Servicer pursuant to Section 3.09 of this Servicing Agreement Master Servicer, to the effect that a Mortgage Home Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Master Servicer, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Home Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Residential Asset Mortgage Products Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Depositor or the Grantor Trustee shall execute instruments to release property from the terms of this Servicing the Grantor Trust Agreement or Custodial Agreement, as applicable, or convey the CompanyDepositor's or the Grantor Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Depositor or the Grantor Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyDepositor's or the Grantor Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneysmonies.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the ServicerMaster Servicer pursuant to the related Custodial Agreement, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate of for Release from the Servicer pursuant to Section 3.09 of this Servicing Agreement Master Servicer, to the effect that a Mortgage Home Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement, which the Grantor Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the ServicerMaster Servicer pursuant to the related Custodial Agreement. If such Mortgage Home Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the ServicerMaster Servicer pursuant to the related Custodial Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Residential Fund Mort Sec Home Loan-BCKD NTS Ser 2004-Hi1)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' Certificate receipt of two copies (one of which will be returned to the Servicer pursuant to Section 3.09 with the related Mortgage File) of this a Request for Release from the Servicer, substantially in the form of Exhibit C which shall be signed by a Servicing Agreement Officer or in a mutually agreeable format, which in lieu of a signature on its face will originate from a Servicing Officer, to the effect that a Mortgage Home Equity Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Equity Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Equity Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents related Mortgage File to the Servicer, along with such documents as upon request of the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage LoanServicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Equity Loan, the Servicer requests the Company or the related Custodian to release the Related Documents Mortgage File and delivers to the Company or the related Custodian two copies of a trust receipt Request for Release reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents related Mortgage File to the Servicer. If such Mortgage Home Equity Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt Mortgage File to the Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Morgan Stanley Abs Capital I Inc MSDWCC Heloc Trust 2003-1)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding [and no amounts due to the Credit Enhancer], release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuing Entity, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuing Entity Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuing Entity shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuing Entity, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuing Entity and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuing Entity, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuing Entity.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding and no amounts due to the Credit Enhancer, release all of the Trust Estate to the Issuing Entity (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Samples: Indenture (Chase Funding Inc)
Trust Estate; Related Documents. (a) When required ------------------------------- by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding (and no amounts due to the Credit Enhancer), release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Depositor shall execute instruments to release property from the terms of this Servicing Agreement, or convey the CompanyDepositor's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Depositor as provided in this Article III shall be bound to ascertain the CompanyDepositor's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Master Servicer shall deliver to the Company Depositor or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company Depositor or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Depositor or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Depositor Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Depositor shall promptly release the Related Documents to the Master Servicer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Depositor or the related Custodian to release the Related Documents and delivers to the Company Depositor or the related Custodian a trust receipt reasonably satisfactory to the Company Depositor or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Depositor or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Depositor or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Depositor or the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.6 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.5, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C to the effect that a Mortgage Revolving Credit Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Revolving Credit Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Revolving Credit Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Master Servicer, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Revolving Credit Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Revolving Credit Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.Master
Appears in 1 contract
Samples: Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Trust Estate; Related Documents. (a) When required by ------------------------------- the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Master Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Master Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Master Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) (and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents). If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Master Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Master Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding (and no amounts due to the Credit Enhancer), release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Samples: Indenture (Indymac Abs Inc)
Trust Estate; Related Documents. (a) When required by ------------------------------- the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Master Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Master Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Master Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Master Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Master Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding (and no amounts due to the Credit Enhancer), release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Samples: Indenture (Provident Bank)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Home Equity Loans, the Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Sale and Servicing Agreement and other comparable instruments with respect to the Home Equity Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Servicer), subject to the obligations of the Servicer under the Sale and Servicing Agreement. If from time to time the Servicer shall deliver to the Company or the related Custodian Indenture Trustee copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05___ of the Sale and Servicing Agreement, the Company or the related Custodian Indenture Trustee shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian Indenture Trustee to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Servicer pursuant to Section 3.09 ___ of this the Sale and Servicing Agreement to the effect that a Mortgage Home Equity Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Equity Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Equity Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerServicer upon the order of the Issuer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Sale and Servicing Agreement to evidence satisfaction and discharge of such Mortgage Home Equity Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Equity Loan, the Servicer requests the Company or the related Custodian Indenture Trustee to release the Related Documents and delivers to the Company or the related Custodian Indenture Trustee a trust receipt reasonably satisfactory to the Company or the related Custodian Indenture Trustee and signed by a Responsible Officer of the Servicer, the Company or Issuer and the related Custodian Indenture Trustee shall release the Related Documents to the Servicer. If such Mortgage Home Equity Loans shall be liquidated and the Company or the related Custodian Indenture Trustee receives a certificate from the Servicer as provided above, then, upon request of the Company or Issuer, the related Custodian Indenture Trustee shall release the trust receipt to the ServicerServicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding and no amounts due to the Credit Enhancer, release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Samples: Indenture (Ucfc Acceptance Corp)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company 200_-__ Trust or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the Company200_-__ Trust's or Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company 200_-__ Trust or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company200_-__ Trust or Indenture Trustee's or Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the [Master] Servicer shall deliver to the Company 200_-__ Trust or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company 200_-__ Trust or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the [Master] Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company 200_-__ Trust or the related Custodian to the [Master] Servicer, with a direction to the [Master] Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by for Release from the [Master] Servicer, substantially in the form of Exhibit C (or an Officers' Certificate of electronic request in a form acceptable to the Servicer pursuant to Section 3.09 of this Servicing Agreement Custodian) to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the [Master] Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the [Master] Servicer, which the Indenture Trustee shall execute along with such documents as the [Master] Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage LoanLoan upon request of the [Master] Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the [Master] Servicer requests the Company 200_-__ Trust or the related Custodian to release the Related Documents and delivers to the Company 200_-__ Trust or the related Custodian a trust receipt reasonably satisfactory to the Company 200_-__ Trust or the related Custodian and signed by a Responsible Officer of the [Master] Servicer, the Company 200_-__ Trust or the related Custodian shall release the Related Documents to the [Master] Servicer. If such Mortgage Loans shall be liquidated and the Company Issuer or the related Custodian receives a certificate from the [Master] Servicer as provided above, then, upon request of the Company [Master] Servicer, the 200_-__ Trust or the related Custodian shall release the trust receipt to the [Master] Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Homepride Mortgage Finance Corp)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Master Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Master Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Master Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 ____ of this the Master Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Master Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding [and no amounts due to the Credit Enhancer], release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Sale and Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Sale and Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05[ ] of the Sale and Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 [ ] of this the Sale and Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Sale and Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding [and no amounts due to the Credit Enhancer], release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the Company's Indenture Trustee’s interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the Company's Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.053.05 of the Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' ’ Certificate of the Master Servicer pursuant to Section 3.09 3.07 of this the Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding and no amounts due to the Credit Enhancer, release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing AgreementIndenture, the Company Indenture Trustee shall execute instruments to release property from the terms lien of this Servicing AgreementIndenture, or convey the CompanyIndenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing AgreementIndenture. No party relying upon an instrument executed by the Company Indenture Trustee as provided in this Article III shall be bound to ascertain the CompanyIndenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) In order to facilitate the servicing of the Mortgage Loans, the Master Servicer is hereby authorized in the name and on behalf of the Indenture Trustee and the Issuer, to execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by the Master Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Indenture Trustee and the Owner Trustee shall promptly execute any such documents on request of the Master Servicer), subject to the obligations of the Master Servicer under the Master Servicing Agreement. If from time to time the Master Servicer shall deliver to the Company Indenture Trustee or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05____ of the Master Servicing Agreement, the Company Indenture Trustee or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Indenture Trustee or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company Issuer Request accompanied by an Officers' Certificate of the Master Servicer pursuant to Section 3.09 ____ of this the Master Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Indenture Trustee and the Issuer shall promptly release the Related Documents to the ServicerMaster Servicer upon the order of the Issuer, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Master Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company Indenture Trustee or the related Custodian to release the Related Documents and delivers to the Company Indenture Trustee or the related Custodian a trust receipt reasonably satisfactory to the Company Indenture Trustee or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company Issuer and the Indenture Trustee or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company Indenture Trustee or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company Issuer, the Indenture Trustee or the related Custodian shall release the trust receipt to the ServicerMaster Servicer upon the order of the Issuer.
(d) The Indenture Trustee shall, at such time as there are no Notes Outstanding [and no amounts due to the Credit Enhancer], release all of the Trust Estate to the Issuer (other than any cash held for the payment of the Notes pursuant to Section 3.03 or 4.11), subject, however, to the rights of the Indenture Trustee under Section 6.07.
Appears in 1 contract
Samples: Indenture (Equity One Abs Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the Company's Issuer’s or the Indenture Trustee’s interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company's Issuer’s or the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.05, the Company or the related Custodian Master Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies copies, with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents held by the Custodian to the Master Servicer. The Indenture Trustee shall execute such Related Documents, along with such documents as the Master Servicer or the related Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents held by the Custodian and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the such Related Documents to the Master Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 1 contract
Samples: Master Servicing Agreement (BellaVista Finance CORP)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as [NY01B:316703.2] 16069-00394 03/27/97 10:57am 12 applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C to the effect that a Mortgage Revolving Credit Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Revolving Credit Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Revolving Credit Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Master Servicer, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Revolving Credit Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Revolving Credit Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Revolving Credit Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' Certificate receipt of two copies (one of which will be returned to the Servicer pursuant to Section 3.09 with the related Mortgage File) of this a Request for Release from the Servicer, substantially in the form of Exhibit C which shall be signed by a Servicing Agreement Officer or in a mutually agreeable format, which in lieu of a signature on its face will originate from a Servicing Officer, to the effect that a Mortgage Revolving Credit Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Revolving Credit Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Revolving Credit Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents related Mortgage File to the Servicer, along with such documents as upon request of the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage LoanServicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Revolving Credit Loan, the Servicer requests the Company or the related Custodian to release the Related Documents Mortgage File and delivers to the Company or the related Custodian two copies of a trust receipt Request for Release reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents related Mortgage File to the Servicer. If such Mortgage Revolving Credit Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt Mortgage File to the Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which that are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement shall be executed pursuant to Section 3.05, the Company or the related Custodian Servicer shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies copies, with the Related Documents. If any such documents submitted Documents held by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C hereto, to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related such Mortgage Loan has been terminated or that substantially all Net Liquidation Proceeds which that have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Net Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated held by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or the related Custodian shall release the trust receipt to the Servicer.the
Appears in 1 contract
Samples: Servicing Agreement (Residential Asset Mortgage Products Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the Company's Issuer’s or the Indenture Trustee’s interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company's Issuer’s or the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents document purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Request accompanied by an Officers' Certificate receipt of two copies (one of which will be returned to the Servicer pursuant to Section 3.09 with the related Mortgage File) of this a Request for Release from the Servicer, substantially in the form of Exhibit C which shall be signed by a Servicing Agreement Officer or in a mutually agreeable format, which in lieu of a signature on its face will originate from a Servicing Officer, to the effect that a Mortgage Home Equity Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Home Equity Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Home Equity Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents related Mortgage File to the Servicer, along with such documents as upon request of the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage LoanServicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Home Equity Loan, the Servicer requests the Company or the related Custodian to release the Related Documents Mortgage File and delivers to the Company or the related Custodian two copies of a trust receipt Request for Release reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Servicer, the Company or the related Custodian shall release the Related Documents related Mortgage File to the Servicer. If such Mortgage Home Equity Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company or Servicer, the related Custodian shall release the trust receipt Mortgage File to the Servicer.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company 1996-HS3 LLC or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Operating Agreement, or convey the Company1996- HS3 LLC's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company 1996-HS3 LLC or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the Company1996-HS3 LLC's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by an Officers' Certificate for Release from the Master Servicer, substantially in the form of the Servicer pursuant to Section 3.09 of this Servicing Agreement Exhibit C to the effect that a Mortgage Revolving Credit Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Revolving Credit Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Revolving Credit Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Master Servicer, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Revolving Credit Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Revolving Credit Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Revolving Credit Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Depositor shall execute instruments to release property from the terms of this Servicing Agreement, or convey the CompanyDepositor 's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Depositor as provided in this Article III shall be bound to ascertain the CompanyDepositor 's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Company Depositor or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company Depositor or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company Depositor or the related Custodian to the Servicer, with a direction to the Servicer to forward the correct documentation.
(c) Upon Company Depositor Request accompanied by an Officers' Certificate of the Servicer pursuant to Section 3.09 of this Servicing Agreement to the effect that a Mortgage Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Loan or, if applicable, Liquidation Proceeds, the Company Depositor shall promptly release the Related Documents to the Servicer, along with such documents as the Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Loan. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, the Servicer requests the Company Depositor or the related Custodian to release the Related Documents and delivers to the Company Depositor or the related Custodian a trust receipt reasonably satisfactory to the Company Depositor or the related Custodian and signed by a Responsible Officer of the Servicer, the Company Depositor or the related Custodian shall release the Related Documents to the Servicer. If such Mortgage Loans shall be liquidated and the Company Depositor or the related Custodian receives a certificate from the Servicer as provided above, then, upon request of the Company Depositor or the related Custodian shall release the trust receipt to the Servicer.
Appears in 1 contract
Trust Estate; Related Documents. (a) When required by the provisions of this Servicing Agreement, the Company Issuer or the Indenture Trustee shall execute instruments to release property from the terms of this Servicing the Trust Agreement, Indenture or Custodial Agreement, as applicable, or convey the CompanyIssuer's or the Indenture Trustee's interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Servicing Agreement. No party relying upon an instrument executed by the Company Issuer or the Indenture Trustee as provided in this Article III Section 3.06 shall be bound to ascertain the CompanyIssuer's or the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
(b) If from time to time the Master Servicer shall deliver to the Company or the related Custodian copies of any written assurance, assumption agreement or substitution agreement or other similar agreement pursuant to Section 3.05, the Company or the related Custodian shall check that each of such documents purports to be an original executed copy (or a copy of the original executed document if the original executed copy has been submitted for recording and has not yet been returned) and, if so, shall file such documents, and upon receipt of the original executed copy from the applicable recording office or receipt of a copy thereof certified by the applicable recording office shall file such originals or certified copies with the Related Documents. If any such documents submitted by the Master Servicer do not meet the above qualifications, such documents shall promptly be returned by the Company or the related Custodian to the Master Servicer, with a direction to the Master Servicer to forward the correct documentation.
(c) Upon Company receipt of a Request accompanied by for Release from the Master Servicer, substantially in the form of Exhibit C (or an Officers' Certificate of electronic request in a form acceptable to the Servicer pursuant to Section 3.09 of this Servicing Agreement Custodian) to the effect that a Mortgage Revolving Credit Loan has been the subject of a final payment or a prepayment in full and the related Mortgage Revolving Credit Loan has been terminated or that substantially all Liquidation Proceeds which have been determined by the Master Servicer in its reasonable judgment to be finally recoverable have been recovered, and upon deposit to the Collection Custodial Account of such final monthly payment, prepayment in full together with accrued and unpaid interest to the date of such payment with respect to such Mortgage Revolving Credit Loan or, if applicable, Liquidation Proceeds, the Company Custodian shall promptly release the Related Documents to the Master Servicer, which the Indenture Trustee shall execute, along with such documents as the Master Servicer or the Mortgagor may request as contemplated by the Servicing Agreement to evidence satisfaction and discharge of such Mortgage Revolving Credit Loan, upon request of the Master Servicer. If from time to time and as appropriate for the servicing or foreclosure of any Mortgage Revolving Credit Loan, the Master Servicer requests the Company or the related Custodian to release the Related Documents and delivers to the Company or the related Custodian a trust receipt reasonably satisfactory to the Company or the related Custodian and signed by a Responsible Officer of the Master Servicer, the Company or the related Custodian shall release the Related Documents to the Master Servicer. If such Mortgage Revolving Credit Loans shall be liquidated and the Company or the related Custodian receives a certificate from the Master Servicer as provided above, then, upon request of the Company or Master Servicer, the related Custodian shall release the trust receipt to the Master Servicer.
Appears in 1 contract
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)