Owner of Record. Immediately prior to the payment of the related Purchase Price for each Mortgage Loan and the Servicing Rights thereto, the Seller was the owner of the related Mortgage and the indebtedness evidenced by the related Mortgage Note and the related Servicing Rights and upon the payment of the related Purchase Price by the Purchaser, in the event that the Seller retains record title, the Seller shall retain such record title to each Mortgage, each related Mortgage Note and the related Mortgage Files with respect thereto in trust for the Purchaser as the owner thereof and only for the purpose of interim servicing and supervising the interim servicing of each Mortgage Loan;
Appears in 12 contracts
Samples: Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar), Master Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Assignment and Conveyance Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs)
Owner of Record. Immediately prior to the payment of the related Purchase Price for each Mortgage Loan and the Servicing Rights thereto, the Seller was the owner of the related Mortgage and the indebtedness evidenced by the related Mortgage Note and the related Servicing Rights and upon the payment of the related Purchase Price by the Purchaser, in the event that the Seller retains record title, the Seller shall retain such record title to each Mortgage, each related Mortgage Note and the related Mortgage Files with respect thereto in trust for the Purchaser as the owner thereof and only for the purpose of interim servicing and supervising the interim servicing of each Mortgage Loan;; and
Appears in 7 contracts
Samples: Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-2), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-7)
