Obligations of Custodian. (a) Custodian shall maintain continuous custody of all items constituting the Mortgage Files in secure facilities in accordance with customary standards for such custody and shall reflect in its records the interest of Buyer therein. Each Mortgage Note and Credit Line Agreement, as applicable (and Assignment of Mortgage), shall be maintained in fire resistant facilities.
Obligations of Custodian. Custodian shall hold all documents received by it constituting the Mortgage File and shall make disposition thereof only in accordance with the instructions of Company and the terms of this Agreement. The Mortgage File shall be appropriately marked and identified to clearly reflect that such documents are held by Custodian, as agent on behalf of Company.
Obligations of Custodian. 10 Section 5. Takeout Provisions; Funding by Takeout Investor....................10 Section 6. Future Defects.....................................................11 Section 7. Release for Payment................................................12
Obligations of Custodian. (a) On and after the Purchase Date, with respect to the Asset Files, and other documents delivered to Custodian or which come into the possession of Custodian, Custodian is the custodian for Buyer, exclusively. The Custodian shall hold all documents received by it for the exclusive use and benefit of Buyer, and shall make disposition thereof only in accordance with this Agreement and the Written Instructions furnished by Buyer. The Custodian shall segregate and maintain continuous custody of the Asset Files and the Submission Packages in secure and fire resistant facilities in accordance with customary industry standards for custody of similar documents.
Obligations of Custodian. The Trustee shall have no responsibility for the performance by the Custodian and the various counterparties of any of its obligations and shall not be responsible for any claim arising from the fact that any Collateral comprised in the Mortgaged Property is held in safe custody by the Custodian.
Obligations of Custodian. Section 4.01 Custody 8 Section 4.02 Obligations 8 Section 4.03 Xxxx, Attachment and Other Court Orders 8 Section 4.04 Pledge or Rehypothecation 9 ARTICLE V RELEASE OF MORTGAGE ASSET FILES Section 5.01 Release of Documentation 9 Section 5.02 Release of Mortgage Asset File and Documentation 10 Section 5.03 Release to Third-Party 10 Section 5.04 Other Release 10 Section 5.05 Notification by Buyer 11 Section 5.06 Tracking 11 Section 5.07 Method of Shipment 11 ARTICLE VI FEES AND EXPENSES OF CUSTODIAN Section 6.01 Fees 11 ARTICLE VII REMOVAL OR RESIGNATION OF CUSTODIAN Section 7.01 Resignation 11 Section 7.02 Removal and Discharge 11 Section 7.03 Successor 11 Page ARTICLE VIII EXAMINATION OF FILES, BOOKS AND RECORDS Section 8.01 Examination 12 ARTICLE IX INSURANCE Section 9.01 Insurance 12
Obligations of Custodian. 5.1 All property in Buyers’ Account will be held for the benefit of Buyers by Custodian as bailee, financial intermediary, and Securities Intermediary on Buyers’ behalf and Custodian will follow Buyers’ instructions directing transfer of such property, and in no event shall any consent of Seller be required for the taking of any action by Custodian or Buyer with respect to Buyers’ Account. All property in Seller’s Account will be held for the benefit of Seller by Custodian as bailee on Seller’s behalf and Custodian will follow Seller’s instructions directing transfer of such property and in no event shall any consent of any Buyer be required for the taking of any action by Custodian or Seller with respect to Seller’s Account.
Obligations of Custodian. 13 Section 5. Release of Asset Files...................................... 14 Section 6. Fees and Expenses of Custodian.............................. 16 Section 7. Removal or Resignation of Custodian and Disbursement Agent.. 16
Obligations of Custodian. (a) Custodian shall maintain continuous custody of all items constituting the Asset Files in secure facilities in accordance with customary standards for such custody and shall reflect in its records the interest of Buyer therein. Each Mortgage Note (and Assignment of Mortgage) shall be maintained in fire resistant facilities.
Obligations of Custodian. With respect to the Mortgage Note, the Mortgage and the Assignment of Mortgage and other documents constituting each Custodial File which is delivered to the Custodian or which come into the possession of the Custodian, the Custodian is the custodian for the Purchaser exclusively. On and after the Closing Date, the Custodian shall hold all mortgage documents received by it constituting the Custodial File for the exclusive use and benefit of the Purchaser, and shall make disposition thereof only in accordance with this Agreement and the instructions furnished by the Purchaser. The Custodian shall segregate and maintain continuous custody of all mortgage documents constituting the Custodial File in secure and fire-resistant facilities in accordance with customary standards for such custody. The Custodian shall not be responsible to verify (i) the validity, legality, enforceability, sufficiency, due authorization, adequacy, recordability, title or genuineness of any document in each Custodial File or of any of the Mortgage Loans or (ii) the collectability, insurability, effectiveness or suitability of any Mortgage Loan.
