{"component": "clause", "props": {"groups": [{"snippet": "The Company is a member of MERS in good standing, and will comply in all material respects with the rules and procedures of MERS in connection with the servicing of the MERS Mortgage Loans for as long as such Mortgage Loans are registered with MERS.", "snippet_links": [{"key": "the-company", "type": "definition", "offset": [0, 11]}, {"key": "a-member-of", "type": "clause", "offset": [15, 26]}, {"key": "in-good-standing", "type": "definition", "offset": [32, 48]}, {"key": "in-all-material-respects", "type": "definition", "offset": [66, 90]}, {"key": "rules-and-procedures", "type": "definition", "offset": [100, 120]}, {"key": "in-connection-with", "type": "clause", "offset": [129, 147]}, {"key": "mers-mortgage-loans", "type": "clause", "offset": [169, 188]}], "size": 87, "samples": [{"hash": "lqQ3FI24zww", "uri": "/contracts/lqQ3FI24zww#mers", "label": "Flow Seller\u2019s Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-7)", "score": 21.0, "published": true}, {"hash": "jo2NlDoEgpE", "uri": "/contracts/jo2NlDoEgpE#mers", "label": "Flow Seller\u2019s Warranties and Servicing Agreement (Lehman XS Trust Series 2007-7n)", "score": 21.0, "published": true}, {"hash": "irnEbTlvU1w", "uri": "/contracts/irnEbTlvU1w#mers", "label": "Flow Seller\u2019s Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12)", "score": 21.0, "published": true}], "hash": "329b2a256f2fba2035504420df210db0", "id": 4}, {"snippet": "The Purchaser is a member of MERS in good standing, and will comply in all material respects with the rules and procedures of MERS in connection with the Purchaser\u2019s performance of its obligations under this Agreement with respect to the Mortgage Loans, for as long as such Mortgage Loans are registered with MERS.", "snippet_links": [{"key": "a-member-of", "type": "clause", "offset": [17, 28]}, {"key": "in-good-standing", "type": "definition", "offset": [34, 50]}, {"key": "in-all-material-respects", "type": "definition", "offset": [68, 92]}, {"key": "rules-and-procedures", "type": "definition", "offset": [102, 122]}, {"key": "in-connection-with", "type": "clause", "offset": [131, 149]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [185, 217]}, {"key": "with-respect-to", "type": "clause", "offset": [218, 233]}, {"key": "the-mortgage-loans", "type": "clause", "offset": [234, 252]}], "size": 67, "samples": [{"hash": "fntf67XfXq1", "uri": "/contracts/fntf67XfXq1#mers", "label": "Mortgage Loan Flow Purchase, Sale & Servicing Agreement", "score": 29.3408622742, "published": true}, {"hash": "2bXnCYAb4H0", "uri": "/contracts/2bXnCYAb4H0#mers", "label": "Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2013-1)", "score": 24.0417518616, "published": true}, {"hash": "4yo63TC2h4M", "uri": "/contracts/4yo63TC2h4M#mers", "label": "Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2012-3)", "score": 23.491443634, "published": true}], "hash": "5fcd7244ad8deb396ccfd0bf30a9c1e0", "id": 5}, {"snippet": "Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.", "snippet_links": [{"key": "registration-systems", "type": "clause", "offset": [20, 40]}, {"key": "a-corporation", "type": "clause", "offset": [48, 61]}, {"key": "organized-and-existing", "type": "clause", "offset": [62, 84]}, {"key": "the-laws", "type": "definition", "offset": [91, 99]}, {"key": "state-of-delaware", "type": "definition", "offset": [107, 124]}], "size": 307, "samples": [{"hash": "9TANw6RH0Oc", "uri": "/contracts/9TANw6RH0Oc#mers", "label": "Flow Servicing Agreement (PennyMac Mortgage Investment Trust)", "score": 35.9650917053, "published": true}, {"hash": "7twHEWMFXvo", "uri": "/contracts/7twHEWMFXvo#mers", "label": "Flow Servicing Agreement (PennyMac Mortgage Investment Trust)", "score": 35.9650917053, "published": true}, {"hash": "iWcDCevFiFj", "uri": "/contracts/iWcDCevFiFj#mers", "label": "Servicing Agreement (PennyMac Mortgage Investment Trust)", "score": 33.5913772583, "published": true}], "hash": "c700effc9424d261830d4dac420a25f2", "id": 1}, {"snippet": "(a) The Servicer shall use its Best Efforts to cause the Trustee to be identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS.\n(b) The Servicer shall maintain in good standing its membership in MERS. In addition, the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended.\n(c) With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership of such Mortgage Loans of which the Servicer has notice.\n(d) With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall notify MERS as to any transfer of servicing pursuant to Section 3.15 or Section 9.01 within 10 Business Days of such transfer of servicing. The Servicer shall cooperate with the Trustee, the Master Servicer and any successor servicer to the extent necessary to ensure that such transfer of servicing is appropriately reflected on the MERS system.", "snippet_links": [{"key": "the-servicer", "type": "definition", "offset": [4, 16]}, {"key": "best-efforts", "type": "clause", "offset": [31, 43]}, {"key": "the-trustee", "type": "clause", "offset": [53, 64]}, {"key": "the-owner", "type": "definition", "offset": [85, 94]}, {"key": "the-records", "type": "clause", "offset": [125, 136]}, {"key": "the-system", "type": "definition", "offset": [161, 171]}, {"key": "transfers-of", "type": "clause", "offset": [185, 197]}, {"key": "ownership-of-mortgages", "type": "clause", "offset": [209, 231]}, {"key": "in-good-standing", "type": "definition", "offset": [284, 300]}, {"key": "in-addition", "type": "clause", "offset": [325, 336]}, {"key": "comply-with", "type": "clause", "offset": [357, 368]}, {"key": "policies-and-procedures", "type": "clause", "offset": [380, 403]}, {"key": "rules-of", "type": "definition", "offset": [427, 435]}, {"key": "as-amended", "type": "definition", "offset": [448, 458]}, {"key": "mers-procedures-manual", "type": "definition", "offset": [468, 490]}, {"key": "with-respect-to", "type": "clause", "offset": [508, 523]}, {"key": "mers-mortgage-loans", "type": "clause", "offset": [528, 547]}, {"key": "promptly-notify", "type": "definition", "offset": [587, 602]}, {"key": "transfer-of-beneficial-ownership", "type": "clause", "offset": [618, 650]}, {"key": "transfer-of-servicing", "type": "clause", "offset": [813, 834]}, {"key": "pursuant-to-section", "type": "definition", "offset": [835, 854]}, {"key": "business-days-of", "type": "clause", "offset": [886, 902]}, {"key": "cooperate-with", "type": "clause", "offset": [950, 964]}, {"key": "the-master-servicer", "type": "definition", "offset": [978, 997]}, {"key": "successor-servicer", "type": "clause", "offset": [1006, 1024]}, {"key": "to-the-extent", "type": "clause", "offset": [1025, 1038]}, {"key": "to-ensure", "type": "clause", "offset": [1049, 1058]}, {"key": "mers-system", "type": "clause", "offset": [1125, 1136]}], "size": 201, "samples": [{"hash": "llq8Eat2mWU", "uri": "/contracts/llq8Eat2mWU#mers", "label": "Servicing Agreement (Structured Asset Securities Corp Trust 2005-6)", "score": 21.0, "published": true}, {"hash": "lblJanmtOB9", "uri": "/contracts/lblJanmtOB9#mers", "label": "Servicing Agreement (Structured Asset Securities CORP Mortgage Pass-Through Certificates, Series 2004-13)", "score": 21.0, "published": true}, {"hash": "lOp16lTmbjo", "uri": "/contracts/lOp16lTmbjo#mers", "label": "Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-15)", "score": 21.0, "published": true}], "hash": "d9018429739d0cf5142802be02daf4dd", "id": 2}, {"snippet": "(a) The Servicer shall use its Best Efforts to cause the Trustee to be identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS.\n(b) The Servicer shall maintain in good standing its membership in MERS. In addition, the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. If the Servicer fails to maintain its membership in MERS in good standing, or otherwise elects to terminate its membership in MERS, the costs associated with termination of such membership shall be borne by the Servicer.\n(c) With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership in such Mortgage Loans of which the Servicer has notice.\n(d) With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall notify MERS as to any transfer of servicing pursuant to Section 9.01 within 10 Business Days of such transfer of servicing. The Servicer shall cooperate with the Trustee, the Master Servicer and any successor Servicer to the extent necessary to ensure that such transfer of servicing is appropriately reflected on the MERS system.", "snippet_links": [{"key": "best-efforts", "type": "clause", "offset": [31, 43]}, {"key": "the-trustee", "type": "clause", "offset": [53, 64]}, {"key": "the-owner", "type": "definition", "offset": [85, 94]}, {"key": "the-records", "type": "clause", "offset": [125, 136]}, {"key": "the-system", "type": "definition", "offset": [161, 171]}, {"key": "transfers-of", "type": "clause", "offset": [185, 197]}, {"key": "ownership-of-mortgages", "type": "clause", "offset": [209, 231]}, {"key": "in-good-standing", "type": "definition", "offset": [284, 300]}, {"key": "in-addition", "type": "clause", "offset": [325, 336]}, {"key": "comply-with", "type": "clause", "offset": [357, 368]}, {"key": "policies-and-procedures", "type": "clause", "offset": [380, 403]}, {"key": "rules-of", "type": "definition", "offset": [427, 435]}, {"key": "as-amended", "type": "definition", "offset": [448, 458]}, {"key": "mers-procedures-manual", "type": "definition", "offset": [468, 490]}, {"key": "to-maintain", "type": "clause", "offset": [526, 537]}, {"key": "termination-of", "type": "definition", "offset": [662, 676]}, {"key": "by-the-servicer", "type": "clause", "offset": [708, 723]}, {"key": "with-respect-to", "type": "clause", "offset": [729, 744]}, {"key": "mers-mortgage-loans", "type": "clause", "offset": [749, 768]}, {"key": "promptly-notify", "type": "definition", "offset": [808, 823]}, {"key": "transfer-of-beneficial-ownership", "type": "clause", "offset": [839, 871]}, {"key": "transfer-of-servicing", "type": "clause", "offset": [1034, 1055]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1056, 1075]}, {"key": "business-days-of", "type": "clause", "offset": [1091, 1107]}, {"key": "cooperate-with", "type": "clause", "offset": [1155, 1169]}, {"key": "the-master-servicer", "type": "definition", "offset": [1183, 1202]}, {"key": "successor-servicer", "type": "clause", "offset": [1211, 1229]}, {"key": "to-the-extent", "type": "clause", "offset": [1230, 1243]}, {"key": "to-ensure", "type": "clause", "offset": [1254, 1263]}, {"key": "mers-system", "type": "clause", "offset": [1330, 1341]}], "size": 141, "samples": [{"hash": "llSjc7qHbk9", "uri": "/contracts/llSjc7qHbk9#mers", "label": "Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5)", "score": 21.0, "published": true}, {"hash": "ljln2tXQA5e", "uri": "/contracts/ljln2tXQA5e#mers", "label": "Servicing Agreement (Structured Asset Securities Corp)", "score": 21.0, "published": true}, {"hash": "l0L6VfNO0Kf", "uri": "/contracts/l0L6VfNO0Kf#mers", "label": "Servicing Agreement (Structured Asset Investment Loan Trust 2005-6)", "score": 21.0, "published": true}], "hash": "84e3a7ccc94954d7c8ea05143ef36a93", "id": 3}, {"snippet": "In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS. The Servicer shall pay all MERS registration fees. As soon as practicable after the Master Servicer's request from time to time (but in no event more than 30 days thereafter with respect to each Mortgage Loan that was a MERS Mortgage Loan as of the Commencement Date, or 90 days thereafter with respect to each Mortgage Loan that was a MERS Eligible Mortgage Loan as of the Commencement Date), the Servicer shall take such actions as are necessary to cause the Owner or any successor Owner to be clearly identified as the owner of each MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. The Servicer shall maintain in good standing its membership in MERS. In addition, the Servicer shall comply with all rules, policies and procedures of MERS, including the Rules of Membership, as amended, and the MERS Procedures Manual, as amended. With respect to all MERS Mortgage Loans serviced hereunder, the Servicer shall promptly notify MERS as to any transfer of beneficial ownership or release of any security interest in such Mortgage Loans. The Servicer shall cooperate with the Owner, the Master Servicer and any successor owner or successor servicer to the extent necessary to ensure that any transfer of ownership or servicing is appropriately reflected on the MERS system.", "snippet_links": [{"key": "in-the-case", "type": "clause", "offset": [0, 11]}, {"key": "mers-eligible-mortgage-loan", "type": "definition", "offset": [20, 47]}, {"key": "the-request", "type": "clause", "offset": [52, 63]}, {"key": "the-master-servicer", "type": "definition", "offset": [67, 86]}, {"key": "the-servicer", "type": "definition", "offset": [88, 100]}, {"key": "the-assignment-of-mortgage", "type": "clause", "offset": [114, 140]}, {"key": "identification-numbers", "type": "definition", "offset": [173, 195]}, {"key": "relating-to", "type": "definition", "offset": [196, 207]}, {"key": "each-mortgage-loan", "type": "definition", "offset": [208, 226]}, {"key": "required-by", "type": "definition", "offset": [241, 252]}, {"key": "registration-fees", "type": "clause", "offset": [291, 308]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [310, 332]}, {"key": "from-time-to-time", "type": "clause", "offset": [369, 386]}, {"key": "in-no-event", "type": "clause", "offset": [392, 403]}, {"key": "more-than-30-days", "type": "clause", "offset": [404, 421]}, {"key": "with-respect-to", "type": "clause", "offset": [433, 448]}, {"key": "a-mers-mortgage", "type": "definition", "offset": [477, 492]}, {"key": "as-of-the-commencement-date", "type": "clause", "offset": [498, 525]}, {"key": "the-owner", "type": "definition", "offset": [716, 725]}, {"key": "successor-owner", "type": "clause", "offset": [733, 748]}, {"key": "clearly-identified", "type": "definition", "offset": [755, 773]}, {"key": "the-records", "type": "clause", "offset": [817, 828]}, {"key": "the-system", "type": "definition", "offset": [853, 863]}, {"key": "transfers-of", "type": "clause", "offset": [877, 889]}, {"key": "ownership-of-mortgages", "type": "clause", "offset": [901, 923]}, {"key": "in-good-standing", "type": "definition", "offset": [972, 988]}, {"key": "in-addition", "type": "clause", "offset": [1013, 1024]}, {"key": "comply-with", "type": "clause", "offset": [1045, 1056]}, {"key": "policies-and-procedures", "type": "clause", "offset": [1068, 1091]}, {"key": "rules-of", "type": "definition", "offset": [1115, 1123]}, {"key": "as-amended", "type": "definition", "offset": [1136, 1146]}, {"key": "mers-procedures-manual", "type": "definition", "offset": [1156, 1178]}, {"key": "mers-mortgage-loans", "type": "clause", "offset": [1212, 1231]}, {"key": "promptly-notify", "type": "definition", "offset": [1271, 1286]}, {"key": "transfer-of-beneficial-ownership", "type": "clause", "offset": [1302, 1334]}, {"key": "release-of", "type": "clause", "offset": [1338, 1348]}, {"key": "security-interest", "type": "clause", "offset": [1353, 1370]}, {"key": "cooperate-with", "type": "clause", "offset": [1414, 1428]}, {"key": "successor-servicer", "type": "clause", "offset": [1487, 1505]}, {"key": "to-the-extent", "type": "clause", "offset": [1506, 1519]}, {"key": "to-ensure", "type": "clause", "offset": [1530, 1539]}, {"key": "transfer-of-ownership", "type": "definition", "offset": [1549, 1570]}, {"key": "mers-system", "type": "clause", "offset": [1618, 1629]}], "size": 65, "samples": [{"hash": "cZlEbACEJSA", "uri": "/contracts/cZlEbACEJSA#mers", "label": "Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22)", "score": 19.0, "published": true}, {"hash": "leCKxnxwqDm", "uri": "/contracts/leCKxnxwqDm#mers", "label": "Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)", "score": 18.0, "published": true}, {"hash": "lRl8DgE2LJk", "uri": "/contracts/lRl8DgE2LJk#mers", "label": "Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)", "score": 18.0, "published": true}], "hash": "65362c5073a85336ad16b484c2163d65", "id": 6}, {"snippet": "With respect to each MERS Designated Mortgage Loan, the Seller shall, on or before the Transfer Date, designate, as directed by the Purchaser, the Purchaser, or its designee, as the servicer on the MERS(R) System. In addition, the Seller shall promptly take all other actions reasonably requested by Purchaser with respect to MERS Designated Mortgage Loans and the MERS(R) System to effectuate and evidence the transfer of servicing in accordance with the terms of this Agreement and the Interim Servicing Agreement.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "the-seller-shall", "type": "clause", "offset": [52, 68]}, {"key": "transfer-date", "type": "definition", "offset": [87, 100]}, {"key": "as-directed", "type": "clause", "offset": [113, 124]}, {"key": "by-the-purchaser", "type": "clause", "offset": [125, 141]}, {"key": "the-servicer", "type": "definition", "offset": [178, 190]}, {"key": "in-addition", "type": "clause", "offset": [214, 225]}, {"key": "all-other-actions", "type": "clause", "offset": [258, 275]}, {"key": "by-purchaser", "type": "clause", "offset": [297, 309]}, {"key": "mers-designated-mortgage-loans", "type": "clause", "offset": [326, 356]}, {"key": "transfer-of-servicing", "type": "clause", "offset": [411, 432]}, {"key": "in-accordance-with", "type": "definition", "offset": [433, 451]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [456, 479]}, {"key": "interim-servicing-agreement", "type": "definition", "offset": [488, 515]}], "size": 60, "samples": [{"hash": "p06QZzg5wW", "uri": "/contracts/p06QZzg5wW#mers", "label": "Pooling and Servicing Agreement (Morgan Stanley Capital I Inc. 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specify its role in the transaction to ensure clarity; reference relevant laws to support enforceability.", "explanation": "The MERS clause establishes the use of the Mortgage Electronic Registration Systems, Inc. (MERS) as the nominee for the lender and the lender\u2019s successors and assigns in a mortgage transaction. In practice, this means that MERS is listed as the mortgagee of record in public land records, even though it does not own the loan, and it acts on behalf of the actual lender for the purposes of tracking changes in loan ownership and servicing rights. This clause streamlines the process of transferring mortgage interests by reducing the need for repeated public record filings, thereby simplifying loan administration and reducing administrative costs."}, "json": true, "cursor": ""}}