Common use of Reassignment of Repurchased or Substituted Loans Clause in Contracts

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee for deposit in the Collection Account of the amounts described in Section 2.04(a) or Section 11.01 (or upon the Subsequent Transfer Date related to a Substitute Loan described in Section 2.04(a) or Section 11.0l), and upon receipt of an Officer’s Certificate of the Servicer in the form attached hereto as Exhibit E, the Indenture Trustee and the Issuer shall assign to the Trust Depositor, and the Trust Depositor shall assign to the Originator, all of the Issuer’s and the Indenture Trustee’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the Loan Pool.

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee (i) for deposit in the Principal Collection Account of the any amounts described in Section 2.04(a) or Section 11.01 6.01, (or upon the Subsequent Transfer Cut-Off Date related to a Substitute Loan in case of a contemporaneous substitution described in Section 2.04(a6.01) or (ii) of a Substitute Loan or Substitute Loans as contemplated by such Section 11.0l)6.01, and upon receipt of an Officer’s Certificate of the Servicer in the form attached hereto as Exhibit EF to the Sale and Servicing Agreement, the Indenture Trustee and the Issuer shall assign to the Trust Depositor, Depositor and the Trust Depositor shall assign to the Originator, Originator all of the Issuer’s and the Indenture Trustee’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the Loan PoolIssuer.

Reassignment of Repurchased or Substituted Loans. 11.2 Upon receipt by the Indenture Trustee for deposit in the Collection applicable sub-account of the Principal and Interest Account of the amounts described in Section 2.04(a) or Section 11.01 11.1 (or upon the Subsequent Transfer Date related to a Substitute Loan described in Section 2.04(a) or Section 11.0l11.1), and upon receipt of an Officer’s Certificate of the Servicer in the form attached hereto as Exhibit ET, the Indenture Trustee shall, pursuant to Section 8.5 of the Indenture, release the Lien of the Indenture with respect to such Loan being substituted and the Issuer shall assign to the Trust Depositor, Depositor and the Trust Depositor shall assign to the Originator, Originator all of the Issuer’s and the Indenture TrusteeTrust’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the Loan PoolTrust Estate.

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee for deposit in the Collection Account of the amounts described in Section 2.04(a) or Section 11.01 6.01 (or upon the Subsequent Transfer Date related to a Substitute Loan described in Section 2.04(a) or Section 11.0l6.01), and upon receipt of an Officer’s Certificate a certificate of the Servicer a Servicing Officer in the form attached hereto as Exhibit EE to the Transfer and Servicing Agreement, the Indenture Trustee is required under the Transfer and the Issuer shall Servicing Agreement to assign to the Trust Depositor, and the Trust Depositor shall assign to the Originator, all of the Issuer’s and the Indenture Trustee’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the Loan Pool.