Trust Receipt and Certification definition

Trust Receipt and Certification means, with respect to any Transaction as of any date, a receipt and certification in the form attached as an exhibit to the Custodial Agreement.
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Trust Receipt and Certification means, with respect to any
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Trust Receipt and Certification means a trust receipt and certification, in the form of Exhibit 1 to the Custodial Agreement, issued by Custodian to (i) Buyer (with respect to Mortgage Loans intended to be the subject of a Transaction) or (ii) Seller (with respect to Non-Purchased Mortgage Loans), confirming Custodian's possession of certain Mortgage Files which are held by Custodian for the benefit of Buyer, Seller or the holder of such trust receipt and certification, as applicable.
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Examples of Trust Receipt and Certification in a sentence

  • All Purchased Mortgage Loans shall be evidenced by a Trust Receipt and Certification.

  • To obtain physical possession of any Purchased Mortgage Loans held by Custodian, Buyer shall present to Custodian a Trust Receipt and Certification.

  • Upon repurchase or substitution of the Mortgage Loans to which this Trust Receipt and Certification relates and payment of the applicable repurchase price, the Mortgage Loans to which this Trust Receipt and Certification relates shall be returned and released by Custodian to [Depositor][the Trustee], and this Trust Receipt and Certification shall be and be deemed to be canceled by Custodian and of no force and effect.

  • The Custodian agrees to indemnify, defend and hold harmless the Trustee against any liability to Certificateholders arising out of the negligence or willful misconduct of the Custodian (a) in the verification or execution of any Trust Receipt and Certification or (b) resulting in the loss of Mortgage Files in the custody of the Custodian.

  • Upon issuance of a Trust Receipt and Certification with respect to any Transfer, the Mortgage Receipt relating to such Mortgage Loans previously delivered shall be deemed cancelled with respect to such Mortgage Loans.

  • Upon consummation of a Transfer in accordance with Article IV hereof, Custodian shall, with respect to the Mortgage Loans transferred to the applicable Mortgage Holder in connection with the applicable Transfer, as described in Section 3.1 hereof, number, execute and deliver to the applicable Mortgage Holder (with a copy to the Originators and the Certificate Insurer) one or more certifications (each, a "Trust Receipt and Certification") in the form attached hereto as Exhibit A.

  • Upon receipt of any such Transfer Certificate duly executed by the Originators, the Custodian shall issue to the Depositors a Trust Receipt and Certification (the "Depositors' Trust Receipt"), as described in Section 3.2 below.

  • Upon receipt of a Transfer Certificate duly executed by the Depositors and the Depositor's Trust Receipt, the Custodian shall issue to the Trustee a Trust Receipt and Certification (the "Trustee's Trust Receipt"), as described in Section 3.2 below, and shall cancel the Depositor's Trust Receipt.

  • To obtain physical possession of any Purchased Mortgage Loans held by Custodian, Administrative Agent shall present to Custodian a Trust Receipt and Certification.

  • All Purchased Assets shall be evidenced by a Trust Receipt and Certification.