Common use of Acquisition of REO Property Clause in Contracts

Acquisition of REO Property. If an Underlying Entity acquires any REO Property by acquiring any Mortgage Note in connection with the foreclosure of the related Purchased Mortgage Loan or Contributed Asset, transferring the real property underlying the Mortgage Note in lieu of foreclosure or otherwise transferring of such real property, such Underlying Entity shall cause such real property to be taken by deed, or by means of such instruments as is provided by the Governmental Authority governing the transfer, or right to request transfer and issuance of the deed, or such instrument as is provided by the related Governmental Authority, or to be acquired through foreclosure sale in the jurisdiction in which the REO Property is located.

Acquisition of REO Property. If an Underlying Entity the REO Subsidiary acquires any REO Property by acquiring extinguishing any Mortgage Note in connection with the foreclosure of the related Purchased Transaction Mortgage Loan or Contributed AssetLoan, transferring the real property underlying the Mortgage Note in lieu of foreclosure or otherwise transferring of such real property, such Underlying Entity the REO Subsidiary shall cause such real property to be taken by deedDeed, or by means of such instruments as is provided by the Governmental Authority governing the transfer, or right to request transfer and issuance of the deedDeed, or such instrument as is provided by the related Governmental Authority, or to be acquired through foreclosure sale in the jurisdiction in which the REO Property is located, in the name of the Nominee in accordance with Section 43 hereof.

Acquisition of REO Property. If an Underlying Entity the REO Subsidiary acquires any Contributed REO Property by acquiring extinguishing any Mortgage Note in connection with the foreclosure of the related Purchased Mortgage Loan or Contributed AssetLoan, transferring the real property underlying the Mortgage Note in lieu of foreclosure or otherwise transferring of such real property, such Underlying Entity the REO Subsidiary shall cause such real property to be taken by deedDeed, or by means of such instruments as is provided by the Governmental Authority governing the transfer, or right to request transfer and issuance of the deedDeed, or such instrument as is provided by the related Governmental Authority, or to be acquired through foreclosure sale in the jurisdiction in which the REO Property is located, in the name of the Nominee for the benefit of REO Subsidiary and in accordance with the terms of the REO Subsidiary Agreement.

Acquisition of REO Property. If an Underlying Entity REO Subsidiary acquires any REO Property by acquiring extinguishing any Mortgage Note in connection with the foreclosure of the related Purchased Transaction Mortgage Loan or Contributed AssetLoan, transferring the real property underlying the Mortgage Note in lieu of foreclosure or otherwise transferring of such real property, such Underlying Entity REO Subsidiary shall cause such real property to be taken by deedDeed, or by means of such instruments as is provided by the Governmental Authority governing the transfer, or right to request transfer and issuance of the deedDeed, or such instrument as is provided by the related Governmental Authority, or to be acquired through foreclosure sale in the jurisdiction in which the REO Property is located, in the name of the Nominee in accordance with Section 43 hereof.

Acquisition of REO Property. If an Underlying Entity the REO Subsidiary acquires any REO Property by acquiring extinguishing any Mortgage Note in connection with the foreclosure of the related Purchased Transaction Mortgage Loan or Contributed AssetLoan, transferring the real property underlying the Mortgage Note in lieu of foreclosure or otherwise transferring of such real property, such Underlying Entity the REO Subsidiary shall cause such real property to be taken by deedDeed, or by means of such instruments as is provided by the Governmental Authority governing the transfer, or right to request transfer and issuance of the deedDeed, or such instrument as is provided by the related Governmental Authority, or to be acquired through foreclosure sale in the jurisdiction in which the REO Property is located, in the name of the Nominee in accordance with Section 40 hereof.