Common use of Repurchase of Mortgage Loans Clause in Contracts

Repurchase of Mortgage Loans. (a) To the extent that SunTrust is required under the Servicing Agreement or any related agreement (other than this Assignment Agreement) to which SunTrust and Assignor are parties to repurchase any Mortgage Loan on account of an Early Payment Default, the Assignee shall be entitled as a result of the assignments hereunder to enforce such obligation directly against SunTrust as required by and in accordance with the Servicing Agreement or such related agreement, as applicable. For purposes of this Section, "Early Payment Default" shall mean any provision of the Servicing Agreement or any related agreement to which SunTrust and Assignor are parties that is designated as an "early payment default" provision or otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first scheduled payment (or any subsequent scheduled payment as specified in such provision) that is due under such Mortgage Loan after the closing or other date specified in such agreement. Notwithstanding the foregoing provisions of this subsection (a), nothing contained herein shall obligate SunTrust to repurchase any Mortgage Loan unless, and to the extent that, SunTrust is require to repurchase such Mortgage Loan under the Servicing Agreement or any related agreement (other than this Assignment Agreement) to which SunTrust and Assignor are parties.