Common use of Exchangeable Certificates Clause in Contracts

Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on Exhibit Seven, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Certificateholder's right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee to be held in trust. U.S. Bank National Association, acting in its capacity as Trustee, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (RFMSI Series 2007-S6 Trust), Pooling and Servicing Agreement (RFMSI Series 2007 S7 Trust)

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Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on Exhibit SevenSchedule II, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the TrusteeSecurities Administrator, all of such Certificateholder's ’s right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee Securities Administrator to be held in trust. U.S. Bank National AssociationCitibank, N.A., acting in its capacity as TrusteeSecurities Administrator, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp)

Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on Exhibit Seven, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Certificateholder's right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee to be held in trust. U.S. Deutsche Bank National AssociationTrust Company Americas, acting in its capacity as Trustee, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RFMSI Series 2007-S4 Trust)

Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on Exhibit SevenFive, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Certificateholder's right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee to be held in trust. U.S. Deutsche Bank National AssociationTrust Company Americas, acting in its capacity as Trustee, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RFMSI Series 2007-S5 Trust)

Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on Exhibit Seven, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Certificateholder's right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee to be held in trust. U.S. Bank National Association, acting in its capacity as Trustee, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 1 contract

Samples: RFMSI Series 2007 SA3 Trust

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Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on Exhibit SevenSchedule II, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the TrusteeSecurities Administrator, all of such Certificateholder's ’s right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee Securities Administrator to be held in trust. U.S. Bank National AssociationWxxxx Fargo Bank, N.A., acting in its capacity as TrusteeSecurities Administrator, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp)

Exchangeable Certificates. (a) Upon the presentation and surrender by any Certificateholder of its Exchangeable Certificates or Exchanged Certificates, as applicable, in the appropriate combination as set forth on in Exhibit SevenFive, such Certificateholder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Certificateholder's right, title and interest in and to such Exchangeable Certificates or Exchanged Certificates, as applicable. The Exchangeable Certificates and Exchanged Certificates shall be transferred in uncertificated form to the Senior Underwriter pursuant to Section 3 of the Senior Underwriting Agreement. The Exchangeable Certificates or Exchanged Certificates in which the Senior Underwriter does not take an initial position in on the books of DTC shall be transferred by the Senior Underwriter to the Trustee to be held in trust. U.S. Bank National Association, acting in its capacity as Trustee, acknowledges (i) the transfer and assignment to it of the uncertificated Exchangeable Certificates or Exchanged Certificates, as applicable, pursuant to this Section 5.07 and Section 3 of the Senior Underwriting Agreement and (ii) any transfer and assignment of uncertificated Exchangeable Certificates or Exchanged Certificates, as applicable, pursuant to the foregoing paragraph, and hereby declares that it will hold the same in trust for the Certificateholders on the terms contained in this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RFMSI Series 2007-S9 Trust)

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