Common use of Assignment of Interest in the Mortgage Loan Purchase Agreement Clause in Contracts

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Cert 2002-Ar3)

AutoNDA by SimpleDocs

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Sellerthe Depositor's rights and obligations pursuant to the MortgageIT Servicing Agreements (noting Agreement. The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Seller has retained Purchase Agreement, will be pledged by the right in the event of breach of the representations, warranties and covenants, if any, with respect Issuer to the related Mortgage Loans of Indenture Trustee pursuant to the Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies)Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Issuer's, the Indenture Trustee's and the CertificateholdersNoteholders' sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Issuer, the Indenture Trustee and the Certificateholders or Noteholders and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Mortgageit Trust 2004-2, Mortgage-Backed Notes, Series 2004-2), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-1, Mortgage-Backed Notes, Series 2005-1)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersCertificateholders of the Mortgage Pass-Through Certificates, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Sellerthe Depositor's rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the related Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee Trustee, the related Certificateholders of the Mortgage Pass-Through Certificates and the Certificateholders or Radian shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates & Re-Remic Certificates, Series 2005-1), Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates & Re-Remic Certificates, Series 2005-1)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect assigned to the related Mortgage Loans of Trust pursuant to the Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies)Assignment Agreement. The obligations of the Underlying Seller pursuant to the related Servicing Agreement or the Assignment Agreement or the Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's the Depositor’s rights and obligations pursuant to the Servicing Agreements Agreement (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans HELOCs of the Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuer to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan HELOC shall be the Issuer’s, the Indenture Trustee's ’s and the Certificateholders' Noteholders’ and the Certificateholder’s sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee Issuer, the Indenture Trustee, the Noteholders and the Certificateholders or and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Saco I Trust 2005-Gp1), Sale and Servicing Agreement (Saco I Trust 2005-Gp1)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, Trustee all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Sub-Servicing Agreements (noting Agreements, provided that the Mortgage Loan Seller has retained the retains a joint and several right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans covenants of a Sub-Servicer under any of the Servicer under the related Sub-Servicing Agreement Agreements to enforce the provisions thereof and to seek all or any available remedies). The ; and provided further that this shall not be deemed an agreement or requirement on the part of the Seller to pursue any such remedies; provided, further, that the obligations of the Mortgage Loan Seller BSMCC to substitute or repurchase, as applicable, repurchase a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement. The Trustee hereby delegates to the Master Servicer the rights to enforce the Trustee's rights under the Sub-Servicing Agreements, and the Master Servicer hereby accepts such delegation.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting Agreements, provided that the Mortgage Loan Seller has retained the retains a joint and several right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans covenants of the Master Servicer under the related Servicing Agreement Agreements to enforce the provisions thereof and to seek all or any available remedies). The ; and provided further that this shall not be deemed an agreement or requirement on the part of the Seller to pursue any such remedies; provided, further, that the obligations of the Mortgage Loan Seller or EMC, as applicable, to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-11)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, Trustee all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Sub-Servicing Agreements (noting and the FUNB Sale Agreement, provided that the Mortgage Loan Seller has retained the retains a joint and several right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans covenants of a Sub-Servicer or FUNB under any of the Servicer under Sub-Servicing Agreements or the related Servicing FUNB Sale Agreement to enforce the provisions thereof and to seek all or any available remedies). The ; and provided further that this shall not be deemed an agreement or requirement on the part of the Seller to pursue any such remedies; provided, further, that the obligations of the Mortgage Loan Seller BSMCC to substitute or repurchase, as applicable, repurchase a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement. The Trustee hereby delegates to the Master Servicer the rights to enforce the Trustee's rights under the Sub-Servicing Agreements and the FUNB Sale Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Securities Inc)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's the Depositor’s rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuer to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Issuer’s, the Indenture Trustee's ’s and the Certificateholders' Noteholders’ sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Issuer, the Indenture Trustee and the Certificateholders or Noteholders and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-2)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Sellerthe Depositor's rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuer to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Issuer's, the Indenture Trustee's and the CertificateholdersNoteholders' sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Issuer, the Indenture Trustee and the Certificateholders or Noteholders and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-2)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a01) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's the Depositor’s rights and obligations pursuant to the HomeBanc Servicing Agreements Agreement (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the Servicer under the related HomeBanc Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuer to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Issuer’s, the Indenture Trustee's ’s and the Certificateholders' Noteholders’ sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Issuer, the Indenture Trustee and the Certificateholders or Noteholders and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Homebanc Corp)

AutoNDA by SimpleDocs

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting Underlying Purchase Agreement, provided that the Mortgage Loan Seller has retained the retains a joint and several right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans covenants of the Servicer IndyMac under the related Servicing Underlying Purchase Agreement to enforce the provisions thereof and to seek all or any available remedies). The ; and provided further that this shall not be deemed an agreement or requirement on the part of the Seller to pursue any such remedies; provided, further, that the obligations of IndyMac or the Mortgage Loan Seller Seller, as applicable, to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to the Seller's rights and obligations pursuant to the Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuer to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Depositor's, the Issuer's, the Indenture Trustee's and the CertificateholdersNoteholders' sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Issuer, the Indenture Trustee and the Certificateholders or Noteholders and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-A9)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuing Entity, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's the Depositor’s rights and obligations pursuant to the related Servicing Agreements Agreement or this Agreement (noting that the Mortgage Loan Seller Sponsor has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement or this Agreement, as applicable, to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuing Entity to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller Sponsor to substitute or repurchase, as applicable, a Mortgage Loan shall be the Issuing Entity’s, the Indenture Trustee's ’s and the Certificateholders' Noteholders’ and the Certificateholder’s sole remedy for any breach thereof. At the request of the Issuing Entity or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee Issuing Entity, the Indenture Trustee, the Noteholders, the Certificateholders and the Certificateholders or Note Insurer and shall execute such further documents as the Issuing Entity or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bear Stearns Second Lien Trust 2007-1)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller Depositor hereby assigns to the Trustee, on behalf of the CertificateholdersIssuer, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's the Depositor’s rights and obligations pursuant to the HomeBanc Servicing Agreements Agreement (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the Servicer under the related HomeBanc Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The Depositor hereby acknowledges that such right, title and interest in the Mortgage Loan Purchase Agreement, will be pledged by the Issuer to the Indenture Trustee pursuant to the Indenture. The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Issuer’s, the Indenture Trustee's ’s and the Certificateholders' Noteholders’ sole remedy for any breach thereof. At the request of the Issuer or the Indenture Trustee, the Seller Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Issuer, the Indenture Trustee and the Certificateholders or Noteholders and shall execute such further documents as the Issuer or the Indenture Trustee may reasonably require in order to enable the Indenture Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Homebanc Corp)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting Agreements, provided that the Mortgage Loan Seller has retained the retains a joint and several right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans covenants of the Master Servicer under the related Servicing Agreement Agreements to enforce the provisions thereof and to seek all or any available remedies). The ; and provided further that this shall not be deemed an agreement or requirement on the part of the Seller to pursue any such remedies; provided, further, that the obligations of IndyMac or the Mortgage Loan Seller Seller, as applicable, to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to the Seller's rights and obligations pursuant to the Servicing Agreements and the Sub-Master Servicing Agreements (noting that the Mortgage Loan Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the related Servicer under the related Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The obligations of the Mortgage Loan Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Cert Se 03 Cl1)

Assignment of Interest in the Mortgage Loan Purchase Agreement. (a) The Seller hereby assigns to the Trustee, on behalf of the Certificateholders, Trustee all of its right, title and interest in the Mortgage Loan Purchase Agreement (or the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans), including but not limited to Seller's rights and obligations pursuant to the Servicing Agreements (noting and the Dime Sale Agreement, provided that the Mortgage Loan Seller has retained the retains a joint and several right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans covenants of a Servicer or Dime under any of the Servicer under Servicing Agreements or the related Servicing Dime Sale Agreement to enforce the provisions thereof and to seek all or any available remedies). The ; and provided further that this shall not be deemed an agreement or requirement on the part of the Seller to pursue any such remedies; provided, further, that the obligations of the Mortgage Loan Seller BSMCC or Dime to substitute or repurchase, as applicable, repurchase a Mortgage Loan shall be the Trustee's and the Certificateholders' sole remedy for any breach thereof. At the request of the Trustee, the Seller shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.