Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Initial Member or a Failed Bank that is not contained in the Loan File or among the Underlying Collateral Documents. Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Initial Member, the FDIC or a Failed Bank, nor the existence of any Lien on the Loan or its Underlying Collateral, nor any defect in the Lien or priority of the Initial Member’s or the applicable Failed Bank’s security interest in the Underlying Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or a Failed Bank that might be missing from the Underlying Collateral Documents, but the costs thereof shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency Agreement.
Intervening or Missing Assignments. The Company acknowledges and agrees that the Transferor will have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Transferor or the Failed Bank that is not contained in the documents or files delivered to the Company or the Custodian pursuant to Section 3.1(b). Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Transferor, the FDIC or the Failed Bank, nor the existence of any Lien on the Asset or its Collateral, nor any defect in the Lien or priority of the Transferor’s or the Failed Bank’s security interest in the Collateral will give rise to any claim for purchase under Article
Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening assignment or any assignment to the Initial Member or the Failed Bank that is not contained in the Loan File or among the Collateral Documents. Neither the absence of any intervening assignment or any assignment to the Initial Member or the Failed Bank, nor the existence of any Lien on the Loan or its Collateral, nor any defect in the Lien or priority of the Initial Member’s or the Failed Bank’s security interest in the Collateral shall give rise to any claim for purchase under Article VI. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening assignment or any assignment to the Initial Member or the Failed Bank that may be missing from the Collateral Documents, but the cost thereof shall constitute a Pre-Approved Charge for purposes of the Participation Agreement.
Intervening or Missing Assignments. Buyer acknowledges and agrees that Seller shall have no obligation to secure or obtain any missing intervening assignment or any assignment to Seller that is not contained in the Loan File or among the Collateral Documents. Buyer shall have the sole responsibility and expense of securing any intervening assignment or any assignment to Seller that may be missing from the Collateral Documents from the appropriate source.
Intervening or Missing Assignments. The Company acknowledges and agrees that the Initial Member shall have no obligation to secure or obtain any missing intervening assignment or any assignment to the Initial Member or the Failed Thrift that is not contained in the Loan File or among the Collateral Documents. The Company shall bear all responsibility and expense of securing from the appropriate source any intervening assignment or any assignment to the Initial Member or the Failed Thrift that may be missing from the Collateral Documents, but the cost thereof shall constitute a Pre-Approved Charge for purposes of the Participation Agreement.
Intervening or Missing Assignments. Xxxxx acknowledges and agrees that Xxxxxx has no obligation to secure or obtain any missing intervening assignment or any assignment to Seller that is not contained in the Loan File or among the Collateral Documents. Buyer will have the sole responsibility and expense of securing any intervening assignment or any assignment to Seller that may be missing from the Collateral Documents from the appropriate source.
Intervening or Missing Assignments. The Company acknowledges and agrees that the Transferor will have no obligation to secure or obtain any missing intervening Mortgage Assignment or other assignment to the Transferor or the Failed Bank that is not contained in the documents or files delivered to the Company or the Custodian pursuant to Section 3.1(b). Neither the absence of any intervening Mortgage Assignment or any Mortgage Assignment to the Transferor, the FDIC or the Failed Bank, nor the existence of any Lien on the Asset or its Collateral, nor any defect in the Lien or priority of the Transferor’s or the Failed Bank’s security interest in the Collateral will give rise to any claim for purchase under Article VI. The Company must bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Transferor, the FDIC or the Failed Bank that may be missing from the documents or files delivered to the Custodian pursuant to Section 3.1(b), but the costs thereof incurred by the Company (or the Manager or the Servicer for the benefit of the Company) will constitute Pre-Approved Charges.
