{"component": "clause", "props": {"groups": [{"snippet": "o Seller to provide Purchaser a listing of all ARM loans in the transfer.", "snippet_links": [{"key": "to-provide", "type": "definition", "offset": [9, 19]}, {"key": "purchaser-a", "type": "definition", "offset": [20, 31]}, {"key": "arm-loans", "type": "clause", "offset": [47, 56]}, {"key": "the-transfer", "type": "clause", "offset": [60, 72]}], "size": 7, "samples": [{"hash": "kKdKw8CqlZz", "uri": "/contracts/kKdKw8CqlZz#arms", "label": "Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)", "score": 18.0, "published": true}, {"hash": "iFpDFbP0a0x", "uri": "/contracts/iFpDFbP0a0x#arms", "label": "Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar)", "score": 18.0, "published": true}, {"hash": "gH4Qvyu6XlA", "uri": "/contracts/gH4Qvyu6XlA#arms", "label": "Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)", "score": 18.0, "published": true}], "hash": "a0a7346e2ad20568be80973376209a34", "id": 1}, {"snippet": "No person shall be allowed to carry or possess arms in the Old City, with the exception of the Police Forces provided for in this agreement. In addition, each Party may grant special written permission to carry or possess arms in areas under its sovereignty.", "snippet_links": [{"key": "no-person-shall", "type": "clause", "offset": [0, 15]}, {"key": "the-old-city", "type": "clause", "offset": [55, 67]}, {"key": "with-the-exception-of", "type": "clause", "offset": [69, 90]}, {"key": "the-police", "type": "clause", "offset": [91, 101]}, {"key": "in-this-agreement", "type": "clause", "offset": [122, 139]}, {"key": "in-addition", "type": "clause", "offset": [141, 152]}, {"key": "each-party", "type": "clause", "offset": [154, 164]}, {"key": "written-permission", "type": "definition", "offset": [183, 201]}], "size": 4, "samples": [{"hash": "hgj3tfN3U9C", "uri": "/contracts/hgj3tfN3U9C#arms", "label": "Permanent Status Agreement", "score": 31.7314966153, "published": true}, {"hash": "lspPzis0QlF", "uri": "/contracts/lspPzis0QlF#arms", "label": "Permanent Status Agreement", "score": 24.190048932, "published": true}, {"hash": "jo7vPvrZe08", "uri": "/contracts/jo7vPvrZe08#arms", "label": "Permanent Status Agreement", "score": 19.0, "published": true}], "hash": "6248a457c9e20d652da4e3df5ce50410", "id": 2}, {"snippet": "Seller to provide Purchaser a listing of all ARM loans in the transfer. \u00b7 For each Adjustable Rate Mortgage in the sale portfolio, Seller shall provide the following information at Transfer Date: (i) Copies of all Notes and Riders (including applicable modifications and addendums/exhibits); (ii) Copies of all adjustment notifications; (iii) Copies of payment transaction history. \u00b7 For each ARM loan having an interest rate change date within 30 days of the Transfer Date, Seller warrants that they have made the appropriate adjustments and notified the borrower of same in accordance with the Note and applicable state and federal guidelines.", "snippet_links": [{"key": "to-provide", "type": "definition", "offset": [7, 17]}, {"key": "purchaser-a", "type": "definition", "offset": [18, 29]}, {"key": "arm-loans", "type": "clause", "offset": [45, 54]}, {"key": "the-transfer", "type": "clause", "offset": [58, 70]}, {"key": "adjustable-rate-mortgage", "type": "definition", "offset": [83, 107]}, {"key": "sale-portfolio", "type": "definition", "offset": [115, 129]}, {"key": "seller-shall", "type": "clause", "offset": [131, 143]}, {"key": "provide-the", "type": "clause", "offset": [144, 155]}, {"key": "transfer-date", "type": "definition", "offset": [181, 194]}, {"key": "all-notes", "type": "definition", "offset": [210, 219]}, {"key": "transaction-history", "type": "definition", "offset": [361, 380]}, {"key": "interest-rate-change-date", "type": "definition", "offset": [412, 437]}, {"key": "seller-warrants", "type": "definition", "offset": [475, 490]}, {"key": "the-borrower", "type": "definition", "offset": [552, 564]}, {"key": "in-accordance-with", "type": "definition", "offset": [573, 591]}, {"key": "the-note", "type": "clause", "offset": [592, 600]}, {"key": "federal-guidelines", "type": "definition", "offset": [626, 644]}], "size": 3, "samples": [{"hash": "blnbsVkOSmD", "uri": "/contracts/blnbsVkOSmD#arms", "label": "Seller\u2019s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar)", "score": 21.0, "published": true}, {"hash": "9VdZ1yPO7XD", "uri": "/contracts/9VdZ1yPO7XD#arms", "label": "Seller\u2019s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar)", "score": 21.0, "published": true}, {"hash": "1mA2s3yA7Zj", "uri": "/contracts/1mA2s3yA7Zj#arms", "label": "Seller\u2019s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)", "score": 21.0, "published": true}], "hash": "25d2ee881cd4e21145601c58465c51e2", "id": 3}, {"snippet": "2.6.1. The arms are shown as part No. 6 in figure 1 of this annex.\n2.6.2. The arms have a plastic skeleton covered by a polyurethane \"flesh\" and a PVC skin.\n2.6.3. The shoulder/arm joint allows for discrete arm positions at 0\u00b0, 40\u00b0 and 90\u00b0 to the torso line.\n2.6.4. The shoulder/arm joint allows for a flexion/extension rotation only.", "snippet_links": [{"key": "figure-1", "type": "definition", "offset": [43, 51]}, {"key": "this-annex", "type": "clause", "offset": [55, 65]}, {"key": "covered-by", "type": "definition", "offset": [107, 117]}, {"key": "torso-line", "type": "definition", "offset": [247, 257]}], "size": 2, "samples": [{"hash": "i9sXiBpJlSX", "uri": "/contracts/i9sXiBpJlSX#arms", "label": "Agreement Concerning the Adoption of Uniform Conditions of Approval and Reciprocal Recognition of Approval for Motor Vehicle Equipment and Parts", "score": 21.0, "published": true}, {"hash": "6CsrlGN9OJi", "uri": "/contracts/6CsrlGN9OJi#arms", "label": "Agreement Concerning the Adoption of Uniform Conditions of Approval and Reciprocal Recognition of Approval for Motor Vehicle Equipment and Parts", "score": 21.0, "published": true}], "hash": "600c7fdd0ebc78b28f3a7d2085c87186", "id": 4}, {"snippet": "The Servicer shall enforce each ARM in accordance with its terms and shall timely calculate, record, report and apply all interest rate adjustments in accordance with the related Promissory Note. The Servicer's records shall, at all times, reflect the then Loan Interest Rate and monthly payment and the Servicer shall timely notify the Borrower of any changes to the Loan Interest Rate or the Borrower's monthly payment. If the Servicer fails to make either a timely or accurate adjustment to the Loan Interest Rate or monthly payment or to notify the Borrower of such adjustments, the Servicer shall pay from its own funds any shortage. If the Servicer's failure to make a scheduled change affects the Trust's rights to make future adjustments under the terms of the ARM, the Servicer shall purchase the ARM, in accordance with the provisions of the last sentence of Section 3.08(b). Any amounts paid by the Servicer pursuant to this Section shall not be an advance and shall not be reimbursable from the proceeds of any Loan.", "snippet_links": [{"key": "in-accordance-with", "type": "definition", "offset": [36, 54]}, {"key": "terms-and", "type": "clause", "offset": [59, 68]}, {"key": "interest-rate-adjustments", "type": "clause", "offset": [122, 147]}, {"key": "promissory-note", "type": "clause", "offset": [179, 194]}, {"key": "at-all-times", "type": "definition", "offset": [226, 238]}, {"key": "loan-interest-rate", "type": "definition", "offset": [257, 275]}, {"key": "monthly-payment", "type": "definition", "offset": [280, 295]}, {"key": "the-borrower", "type": "definition", "offset": [333, 345]}, {"key": "the-loan", "type": "clause", "offset": [364, 372]}, {"key": "adjustment-to", "type": "clause", "offset": [480, 493]}, {"key": "own-funds", "type": "clause", "offset": [615, 624]}, {"key": "failure-to-make", "type": "clause", "offset": [657, 672]}, {"key": "scheduled-change", "type": "clause", "offset": [675, 691]}, {"key": "the-trust", "type": "clause", "offset": [700, 709]}, {"key": "future-adjustments", "type": "clause", "offset": [727, 745]}, {"key": "terms-of-the", "type": "clause", "offset": [756, 768]}, {"key": "the-last-sentence", "type": "clause", "offset": [848, 865]}, {"key": "by-the-servicer", "type": "clause", "offset": [903, 918]}, {"key": "pursuant-to", "type": "definition", "offset": [919, 930]}, {"key": "any-loan", "type": "clause", "offset": [1019, 1027]}], "size": 2, "samples": [{"hash": "l96BtOdu9Ob", "uri": "/contracts/l96BtOdu9Ob#arms", "label": "Sale and Servicing Agreement (Advanta Corp)", "score": 18.0, "published": true}, {"hash": "fXMBE1lKw8i", "uri": "/contracts/fXMBE1lKw8i#arms", "label": "Sale and Servicing Agreement (Advanta Corp)", "score": 18.0, "published": true}], "hash": "817a05f44f022229352cf411398c1707", "id": 5}, {"snippet": "The Servicer shall enforce each ARM and 5/1 ARM ---- Mortgage Loan in accordance with its terms and shall or shall cause the applicable Subservicers to timely calculate, record, report and apply all interest rate adjustments in accordance with the related Mortgage Note. The Servicer's records shall, at all times, reflect the then Coupon Rate and monthly payment and the Servicer shall or shall cause the applicable Subservicers to timely notify the Mortgagor of any changes to the Coupon Rate or the Mortgagor's monthly payment.", "snippet_links": [{"key": "the-servicer", "type": "definition", "offset": [0, 12]}, {"key": "mortgage-loan", "type": "clause", "offset": [53, 66]}, {"key": "in-accordance-with", "type": "definition", "offset": [67, 85]}, {"key": "terms-and", "type": "clause", "offset": [90, 99]}, {"key": "the-applicable", "type": "clause", "offset": [121, 135]}, {"key": "interest-rate-adjustments", "type": "clause", "offset": [199, 224]}, {"key": "mortgage-note", "type": "definition", "offset": [256, 269]}, {"key": "at-all-times", "type": "definition", "offset": [301, 313]}, {"key": "coupon-rate", "type": "definition", "offset": [332, 343]}, {"key": "monthly-payment", "type": "definition", "offset": [348, 363]}, {"key": "the-mortgagor", "type": "clause", "offset": [447, 460]}, {"key": "changes-to-the", "type": "definition", "offset": [468, 482]}], "size": 2, "samples": [{"hash": "8B0rhIhJFRo", "uri": "/contracts/8B0rhIhJFRo#arms", "label": "Sale and Servicing Agreement (Thornburg Mortgage Asset Corp)", "score": 16.0, "published": true}], "hash": "45fab2c59a49c0cea01c4235ebf9cd9f", "id": 6}, {"snippet": "7/1 ARMs, and 10/1 ARMs (\u2587\u2587\u2587\u2587\u2587\u2587 Mae's standard ARM plans); or", "snippet_links": [], "size": 1, "samples": [{"hash": "dqJePtHxh9E", "uri": "/contracts/dqJePtHxh9E#arms", "label": "Master Agreement (Washtenaw Group Inc)", "score": 18.0, "published": true}], "hash": "ad6c72160446e3f744b3f48e93df54c9", "id": 7}, {"snippet": "2.2.1. The driver's upper arms shall be adjacent to the torso with the centrelines as close to a vertical plane as possible.\n2.2.2. The passenger's upper arms shall be in contact with the seat back and the sides of the torso.", "snippet_links": [{"key": "the-driver", "type": "clause", "offset": [7, 17]}, {"key": "adjacent-to", "type": "definition", "offset": [40, 51]}, {"key": "close-to", "type": "definition", "offset": [86, 94]}, {"key": "vertical-plane", "type": "definition", "offset": [97, 111]}, {"key": "in-contact", "type": "definition", "offset": [168, 178]}], "size": 1, "samples": [{"hash": "gRGJWnr1AvS", "uri": "/contracts/gRGJWnr1AvS#arms", "label": "Regulation No. 94", "score": 22.6331279945, "published": true}], "hash": "f8c1a71a31a17c4fb992ac0c26908b41", "id": 8}, {"snippet": "A Home Equity Loan the Mortgage Rate of which adjusts on each Change ---- Date by reference to the applicable Mortgage Index, subject to the applicable Periodic Rate Cap, Lifetime Floor and Lifetime Cap.", "snippet_links": [{"key": "home-equity-loan", "type": "definition", "offset": [2, 18]}, {"key": "rate-of", "type": "clause", "offset": [32, 39]}, {"key": "reference-to", "type": "definition", "offset": [82, 94]}, {"key": "mortgage-index", "type": "definition", "offset": [110, 124]}, {"key": "subject-to-the", "type": "definition", "offset": [126, 140]}, {"key": "periodic-rate-cap", "type": "definition", "offset": [152, 169]}, {"key": "lifetime-floor", "type": "definition", "offset": [171, 185]}, {"key": "lifetime-cap", "type": "definition", "offset": [190, 202]}], "size": 1, "samples": [{"hash": "d1nbnga244K", "uri": "/contracts/d1nbnga244K#arms", "label": "Pooling and Servicing Agreement (Norwest Asset Acceptance Corp)", "score": 18.0, "published": true}], "hash": "604c9a590e1c5fedf534989293fbd8cd", "id": 9}, {"snippet": "(a) The Servicer shall enforce each ARM and Convertible ARM in accordance with its terms and shall timely calculate, record, report and apply all interest rate adjustments in accordance with the related Mortgage Note. The Servicer's records shall, at all times, reflect the then Loan Rate and monthly payment and the Servicer shall timely notify the Mortgagor of any changes to the Loan Rate or the Mortgagor's monthly payment. If the Servicer fails to make either a timely or accurate adjustment to the Loan Rate or monthly payment or to notify the Mortgagor of such adjustments, the Servicer shall pay from its own funds any shortage. If the Servicer's failure to make a scheduled change affects the Issuer's rights to make future adjustments under the terms of the ARM or Convertible ARM, the Servicer shall repurchase the ARM or Convertible ARM in accordance with the provisions of the last sentence of Section 4.13(f). Any amounts paid by the Servicer pursuant to this Section shall not be an advance and shall not be reimbursable from the proceeds of any Home Equity Loan.\n(b) The Indenture Trustee, as the holder of the Mortgage Notes, hereby authorizes and directs the Servicer, on behalf of the Indenture Trustee, to determine the fixed rates into which Mortgagors having Convertible ARMs may convert the adjustable rates on their Mortgage Notes upon compliance with the terms thereof. The Servicer agrees to determine such rates, and otherwise administer the program as contemplated in the Mortgage Notes for the Convertible ARMS.", "snippet_links": [{"key": "in-accordance-with", "type": "definition", "offset": [60, 78]}, {"key": "terms-and", "type": "clause", "offset": [83, 92]}, {"key": "interest-rate-adjustments", "type": "clause", "offset": [146, 171]}, {"key": "related-mortgage", "type": "definition", "offset": [195, 211]}, {"key": "at-all-times", "type": "definition", "offset": [248, 260]}, {"key": "loan-rate", "type": "definition", "offset": [279, 288]}, {"key": "monthly-payment", "type": "definition", "offset": [293, 308]}, {"key": "the-mortgagor", "type": "clause", "offset": [346, 359]}, {"key": "the-loan", "type": "clause", "offset": [378, 386]}, {"key": "adjustment-to", "type": "clause", "offset": [486, 499]}, {"key": "own-funds", "type": "clause", "offset": [613, 622]}, {"key": "failure-to-make", "type": "clause", "offset": [655, 670]}, {"key": "scheduled-change", "type": "clause", "offset": [673, 689]}, {"key": "the-issuer", "type": "clause", "offset": [698, 708]}, {"key": "future-adjustments", "type": "clause", "offset": [726, 744]}, {"key": "terms-of-the", "type": "clause", "offset": [755, 767]}, {"key": "the-last-sentence", "type": "clause", "offset": [886, 903]}, {"key": "by-the-servicer", "type": "clause", "offset": [941, 956]}, {"key": "pursuant-to", "type": "definition", "offset": [957, 968]}, {"key": "home-equity-loan", "type": "definition", "offset": [1061, 1077]}, {"key": "the-indenture-trustee", "type": "clause", "offset": [1083, 1104]}, {"key": "mortgage-notes", "type": "definition", "offset": [1127, 1141]}, {"key": "authorizes-and-directs", "type": "clause", "offset": [1150, 1172]}, {"key": "on-behalf-of", "type": "clause", "offset": [1187, 1199]}, {"key": "fixed-rates", "type": "clause", "offset": [1240, 1251]}, {"key": "compliance-with-the-terms", "type": "clause", "offset": [1360, 1385]}, {"key": "agrees-to", "type": "clause", "offset": [1408, 1417]}, {"key": "the-program", "type": "clause", "offset": [1465, 1476]}], "size": 1, "samples": [{"hash": "cZi0yb5F2BO", "uri": "/contracts/cZi0yb5F2BO#arms", "label": "Sale and Servicing Agreement (Ucfc Acceptance Corp)", "score": 18.0, "published": true}], "hash": "c1149e12c38ab24bc73dc6df03f7d461", "id": 10}], "next_curs": "Ck0SR2oVc35sYXdpbnNpZGVyY29udHJhY3RzcikLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ig1hcm1zIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "ARMs", "children": [], "size": 25, "parents": [["special-reporting", "Special Reporting"], ["the-old-city", "The Old City"], ["miscellaneous-provisions", "Miscellaneous Provisions"], ["general-specification-of-the-impactor-type", "GENERAL SPECIFICATION OF THE IMPACTOR TYPE"], ["construction", "CONSTRUCTION"]], "id": "arms", "related": [["arms-length", "Arm\u2019s Length", "Arm\u2019s Length"], ["length", "Length", "Length"], ["arms-length-negotiations", "Arms\u2019 Length Negotiations", "<strong>Arms</strong>\u2019 Length Negotiations"], ["arms-length-agreement", "ARM'S LENGTH AGREEMENT", "ARM&#x27;S LENGTH AGREEMENT"], ["arms-length-transactions", "Arm\u2019s Length Transactions", "Arm\u2019s Length Transactions"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": ["What key terms in ARMs are most negotiable to protect borrower interests?", "Which drafting elements are essential to ensure ARM enforceability and clarity?", "What are the most common legal pitfalls or fatal flaws in ARM clauses?", "How do ARM provisions differ across major jurisdictions or regulatory regimes?", "What factors most often determine the enforceability of ARMs in court disputes?"], "drafting_tip": "Define 'ARMs' precisely to avoid ambiguity; specify adjustment periods and index to ensure clarity; state cap limits to protect parties from excessive rate changes.", "explanation": "The ARMs (Adjustable Rate Mortgages) clause defines the terms under which the interest rate on a mortgage loan may change over time. Typically, this clause outlines the initial fixed-rate period, the frequency and limits of rate adjustments, and the index used to determine future rates. For example, an ARM might start with a low fixed rate for five years, after which the rate adjusts annually based on a published index plus a margin. The core function of this clause is to clarify how and when interest rates may change, helping both lenders and borrowers understand the potential for payment fluctuations and manage the associated risks."}, "json": true, "cursor": ""}}