Common use of Future Purchasers Clause in Contracts

Future Purchasers. Before selling Mortgage Loans to Purchasers who are not Purchasers as of the closing date of the Loan, Borrower will submit the names of such potential Purchasers and any other information reasonably required by First Union to First Union for approval, in its sole reasonable discretion, and upon receipt of approval of the potential Purchasers by First Union, shall require each such Purchaser to execute a Bailee Agreement prior to the sale of any Mortgage Loan to such potential Purchaser.

Future Purchasers. Before selling Mortgage Loans to Purchasers who are not Purchasers as of the closing date of the Loan, Borrower will submit the names of such potential Purchasers and any other information reasonably required by First Union to First Union for approval, in its sole reasonable discretion, and upon receipt of such approval of the potential Purchasers by First Union, shall require each such Purchaser to execute a Bailee Agreement prior to the execution of any Purchase Commitment or the sale of any Mortgage Loan to such potential Purchaser.