Common use of Acceptance of Mortgage Files Clause in Contracts

Acceptance of Mortgage Files. The Owner, from time to time, will cause to be delivered to the Custodian on each Delivery Date the Mortgage Files relating to the Mortgage Loans identified on the Mortgage Loan Schedule for such Delivery Date. The Custodian, as the duly appointed agent of the Owner for these purposes, declares that it will hold such Mortgage Files as agent for the Owner, in trust, for the use and benefit of the Owner and its assigns. The Custodian acknowledges that the Owner intends to sell the Mortgage Loans to the Depositor, and the Depositor intends assign the Mortgage Loans to the Trustee, on the Closing Date, and the Custodian agrees that it will hold the Mortgage Files as agent for the Trustee, in trust for the use and benefit of all present and future Certificateholders, upon receipt of written notice from a Servicing Officer of such sale and assignment.

Acceptance of Mortgage Files. The Owner, from time to time, will cause to be delivered to the Custodian on each Delivery Date the Mortgage Files relating to the Mortgage Loans identified on the Mortgage Loan Schedule for such Delivery Date. The Custodian, as the duly appointed agent of the Owner for these purposes, declares that it will hold such Mortgage Files as agent for the Owner, in trust, for the use and benefit of the Owner and its assigns. The Custodian acknowledges that the Owner intends to sell the Mortgage Loans to the Depositor, and the Depositor intends to assign the Mortgage Loans to the Trustee, on the Closing Date, and the Custodian agrees that it will hold the Mortgage Files as agent for the Trustee, in trust for the use and benefit of all present and future Certificateholders, upon receipt of written notice from a Servicing Officer of such sale and assignment.