Further Encumbrance of Trust Property. (a) Immediately upon the conveyance to the Issuer by the Depositor of any item of the Trust Property pursuant to Section 2.01, all right, title and interest of the Depositor in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Issuer, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Delaware Statutory Trust Act (12 Del. Code, § 3801 et seq.).
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Thornburg Mortgage Securities Corp), Transfer and Servicing Agreement (Structured Asset Securities Corp), Transfer and Servicing Agreement (Structured Asset Securities Corp)
Further Encumbrance of Trust Property. (a) Immediately upon the conveyance to the Issuer Trust by the Depositor of any item of the Trust Property pursuant to Section 2.01, all right, title and interest of the Depositor in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the IssuerTrust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Delaware Statutory Trust Act (12 Del. Code, § ss. 3801 et seq.).
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Sequoia Mortgage Funding Corp), Sale and Servicing Agreement (Sequoia Residential Funding Inc)
