Loans and Related Security Files Clause Samples
The "Loans and Related Security Files" clause defines the requirements for maintaining and managing all documentation and records associated with loans and their collateral. This typically includes promissory notes, security agreements, title documents, and any correspondence or records evidencing the existence and terms of the loan and its security. The clause ensures that all relevant files are properly organized, accessible, and up-to-date, which is essential for verifying ownership, enforcing rights, and facilitating audits or transfers. Its core function is to provide clarity and accountability regarding the documentation supporting loans and their related security interests.
Loans and Related Security Files. Upon such completion of the repurchase of such Selected Portfolio Assets in accordance with Section 8.4 above or the sale of Selected Portfolio Assets to a purchaser or purchasers, or if there is a breach of the Pre-Maturity Test under the Guarantor Agreement, the Seller shall cease to be under any further obligation to hold the relevant Loan Files, where applicable, or other documents relating to such Selected Portfolio Assets to the order of the Purchaser and if the Purchaser holds such documents it will send them to the Seller. Any repurchase by the Seller of or in respect of such Selected Portfolio Assets or any sale of Selected Portfolio Assets by the Purchaser to a purchaser or purchasers pursuant to Article 7 of the Guarantor Agreement shall constitute a discharge and release of the Seller from any claims which the Purchaser or the Bond Trustee may have against the Seller arising from the relevant Representations or Warranties in relation to such Selected Portfolio Assets previously sold by that Seller to the Purchaser only but shall not affect any rights arising from a breach of any other express provision of this Agreement or any Representation or Warranty in relation to any other Portfolio Assets.
Loans and Related Security Files. Upon such completion of the repurchase of such Loans and their Related Security in accordance with Section 8.4 above, the sale of Loans and their Related Security to a purchaser or purchasers, or if there is a breach of the Pre-Maturity Test under the Guarantor Agreement, the Seller shall cease to be under any further obligation to hold the relevant Loan Files or other documents relating to such Loans and their Related Security to the order of the Purchaser and if the Purchaser or Servicer holds such documents the Purchaser will or will cause the Servicer, as applicable, to send such documents to the Seller. Any repurchase by the Seller of or in respect of such Loans and their Related Security or any sale of Loans and their Related Security by the Purchaser to a purchaser or purchasers pursuant to Article 7 of the Guarantor Agreement shall constitute a discharge and release of the Seller from any claims which the Purchaser or the Bond Trustee may have against the Seller arising from the relevant Representations or Warranties in relation to such Loans and their Related Security previously sold by that Seller to the Purchaser only but shall not affect any rights arising from a breach of any other express provision of this Agreement or any Representation or Warranty in relation to any other Loan and other Related Security.
Loans and Related Security Files. Upon such completion of the repurchase of such Portfolio Assets in accordance with Section 8.4 above or the sale of Portfolio Assets to a purchaser or purchasers, the Servicer shall cease to be under any further obligation to hold the relevant Loan Files, where applicable, or other documents relating to such Portfolio Assets to the order of the Acquirer and if the Acquirer holds such documents it will send them to the Originator. Any repurchase by the Originator of or in respect of such Portfolio Assets shall constitute a discharge and release of the Originator from any claims which the Acquirer may have against the Originator arising from the relevant Representations or Warranties in relation to such Portfolio Assets previously sold by that Originator to the Acquirer only but shall not affect any rights arising from a breach of any other express provision of this Agreement or any Representation or Warranty in relation to any other Portfolio Assets.
Loans and Related Security Files. Upon such completion of the repurchase of such Loans and their Related Security in accordance with Section 8.4 above or the sale of Loans and their Related Security to a purchaser or purchasers, the Subservicer shall cease to be under any further obligation to hold the relevant Loan Files or other documents relating to such Loans and their Related Security to the order of the Acquirer and if the Acquirer holds such documents the Acquirer will send such documents to the Originator. Any repurchase by the Originator of or in respect of such Loans and their Related Security shall constitute a discharge and release of the Originator from any claims which the Acquirer may have against the Originator arising from the relevant Representations or Warranties in relation to such Loans and their Related Security previously sold by that Originator to the Acquirer only but shall not affect any rights arising from a breach of any other express provision of this Agreement or any Representation or Warranty in relation to any other Loan and other Related Security.
Loans and Related Security Files. Upon such completion of the repurchase of such Loans and their Related Security in accordance with Section 8.4 above or the sale of Loans and their Related Security to a Purchaser or Purchasers, the relevant Seller shall cease to be under any further obligation to hold the relevant Loans and Related Security Files or other documents relating to the Loans and their Related Security to the order of the Purchaser and if the Purchaser holds such documents it will send them to the relevant Seller. Any repurchase by the relevant Seller of or in respect of the Loans and their Related Security or any sale of Loans and their Related Security by the Purchaser to a Purchaser or Purchasers pursuant to Section 7 of the Guarantor LP Agreement shall constitute a discharge and release of the relevant Seller from any claims which the Purchaser or the Bond Trustee may have against the relevant Seller arising from the relevant Representations or Warranties in relation to the Loans and their Related Security previously sold by that Seller to the Purchaser only but shall not affect any rights arising from a breach of any other express provision of this Agreement or any Representation or Warranty in relation to any other Loan and other Related Security.