Conveyance of the Home Loans. Section 2.01 Conveyance of the Home Loans..................................25 Section 2.02 Ownership and Possession of Home Loan Files...................25 Section 2.03
Conveyance of the Home Loans. The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, convey, sell and assign to the Trust, on behalf of the Holders of the Notes and the Certificates and the Credit Enhancer, without recourse, all its right, title and interest in and to the Home Loans. The Depositor will also provide the Trust with the Credit Enhancement Instrument. The parties hereto intend that the transaction set forth herein be a sale by the Depositor to the Trust of all of its right, title and interest in and to the Home Loans. In the event that the transaction set forth herein is not deemed to be a sale, the Depositor hereby grants to the Trust a security interest in all of its right, title and interest in, to and under the Owner Trust Estate, all distributions thereon and all proceeds thereof; and this Trust Agreement shall constitute a security agreement under applicable law.
Conveyance of the Home Loans. (a) As of the Closing Date, in consideration of the Issuer's delivery of the Notes and the Residual Interest Certificates to the Depositor or its designee, upon the order of the Depositor, the Depositor, as of the Closing Date and concurrently with the execution and delivery hereof, does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to the Trust Estate. The foregoing sale, transfer, assignment, set over and conveyance does not, and is not intended to, result in a creation or an assumption by the Issuer of any obligation of the Depositor, the Transferor or any other person in connection with the Trust Estate or under any agreement or instrument relating thereto except as specifically set forth herein.
Conveyance of the Home Loans. The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, convey and assign to the Trust, on behalf of the Securityholders and the Credit Enhancer, without recourse, all its right, title and interest in and to the Initial Home Loans, including but not limited to any rights of the Depositor under the Purchase Agreement. The Depositor shall also provide the Indenture Trustee with the Policy. The parties hereto intend that, for non-tax purposes, the transaction set forth herein be a sale by the Depositor to the Trust of all of its right, title and interest in and to the Initial Home Loans. In the event that, for non-tax purposes, the transaction set forth herein is not deemed to be a sale, the Depositor hereby grants to the Trust a security interest in all of its right, title and interest in, to and under the Initial Home Loans, all distributions thereon and all proceeds thereof; and this Trust Agreement shall constitute a security agreement under applicable law.
Conveyance of the Home Loans. The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, convey, sell and assign to the Trust, on behalf of the Holders of the Notes and the Certificates and the Credit Enhancer, without recourse, all its right, title and interest in and to (i) the Home Loans, all interest accruing thereon and all collections in respect thereof received on or after the Cut-off Date, (ii) property which secured a Home Loan and which has been acquired by foreclosure or deed in lieu of foreclosure, (iii) the interest of the Depositor in any insurance policies in respect of the Home Loans, and (iv) all proceeds of the foregoing. The Depositor will also provide the Trust with the Credit Enhancement Instrument. The parties hereto intend that the transaction set forth herein be a sale by the Depositor to the Trust of all of its right, title and interest in and to the Home Loans. In the event that the transaction set forth herein is not deemed to be a sale, the Depositor hereby grants to the Trust a security interest in all of its right, title and interest in, to and under (i) the Home Loans, all interest accruing thereon and all collections in respect thereof received on or after the Cut-off Date, (ii) property which secured a Home Loan and which has been acquired by foreclosure or deed in lieu of foreclosure, (iii) the interest of the Depositor in any insurance policies in respect of the Home Loans, and (iv) all proceeds of the foregoing and all distributions thereon and all proceeds thereof; and this Trust Agreement shall constitute a security agreement under applicable law.
Conveyance of the Home Loans. (a) As of the Closing Date, in consideration of the Issuer's delivery of the Notes and Certificates to the Depositor or its designee, upon the order of the Depositor, the Depositor, as of the Closing Date and concurrently with the execution and delivery hereof, does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to the Trust Estate. The foregoing sale, transfer, assignment, set over and conveyance does not and is not intended to result in a creation or an assumption by the Issuer of any obligation of the Depositor, the Seller or any other person in connection with the Trust Estate or under any agreement or instrument relating thereto except as specifically set forth herein.
Conveyance of the Home Loans. As of the Closing Date, in consideration of the Grantor Trustee's delivery of the Grantor Trust Certificate and a collateral assignment of the Collection Account and the Pre-Funding Account to the Depositor or its designee, upon the order of the Depositor, the Depositor, as of the Closing Date and concurrently with the execution and delivery hereof, does hereby sell, transfer, assign, set over and otherwise convey to the Grantor Trustee, without recourse, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to the Grantor Trust Estate. The foregoing sale, transfer, assignment, set over and conveyance does not, and is not intended to, result in a creation or an assumption by the Grantor Trustee of any obligation of the Depositor, the Transferor or any other person in connection with the Grantor Trust Estate or under any agreement or instrument relating thereto except as specifically set forth herein.
Conveyance of the Home Loans. Section 2.01 Conveyance of the Initial Home Loans. . . . . . . . . . 27 Section 2.02 Conveyance of the Subsequent Home Loans . . . . . . . . 28 Section 2.03 Ownership and Possession of Home Loan Files . . . . . . 30 Section 2.04
Conveyance of the Home Loans. As of the Closing Date and concurrently with the execution and delivery hereof, in consideration of the Grantor Trustee's delivery of the Grantor Trust Certificate and a collateral assignment of the Collection Account to the Depositor or its designee, upon the order of the Depositor, the Depositor, does hereby sell, transfer, assign, set over and otherwise convey to the Grantor Trustee, without recourse, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to the Grantor Trust Estate. The foregoing sale, transfer, assignment, set over and conveyance does not, and is not intended to, result in a creation or an assumption by the Grantor Trustee of any obligation of the Depositor, the Transferor or any other person in connection with the Grantor Trust Estate or under any agreement or instrument relating thereto except as specifically set forth herein. Grantor Trustee does hereby collaterally assign all of its rights in and to the Collection Account and all funds and other investments contained in such account to the Grantor Trust Holder.
Conveyance of the Home Loans. 2.01. Conveyance of the Initial Home Loans. . . . . . . . . . . . . . 27 2.02. Conveyance of the Subsequent Home Loans . . . . . . . . . . . . 28 2.03. Ownership and Possession of Home Loan Files . . . . . . . . . . 30 2.04.
