Common use of Assignment and Conveyance of Mortgage Loans Clause in Contracts

Assignment and Conveyance of Mortgage Loans. Upon Purchaser's payment of the Purchase Proceeds in accordance with Section 2.08 of the Agreement, Indymac shall sell, transfer, assign and convey to Purchaser, without recourse, but subject to the terms of the Purchase Confirmation and the Agreement, all of the right, title and interest of Indymac in and to the Mortgage Loans, excluding the servicing rights relating thereto. Each Mortgage Loan shall be serviced by Indymac pursuant to the terms of the Agreement.

Assignment and Conveyance of Mortgage Loans. Upon Purchaser's ’s payment of the Purchase Proceeds in accordance with Section 2.08 of the Agreement, Indymac shall sell, transfer, assign and convey to Purchaser, without recourse, but subject to the terms of the Purchase Confirmation and the Agreement, all of the right, title and interest of Indymac in and to the Mortgage Loans, excluding the servicing rights relating thereto. Each Mortgage Loan shall be serviced by Indymac pursuant to the terms of the Agreement.