Conveyance of Subsequent Mortgage Loans definition

Conveyance of Subsequent Mortgage Loans. As of June 28, 1999 (the "Subsequent Transfer Date"), the Seller does hereby irrevocably transfer, assign, set over and otherwise convey to the Purchaser, without recourse (except as otherwise explicitly provided for herein) all of its right, title and interest in and to any and all benefits accruing from the Subsequent Mortgage Loans which are delivered to the Trustee herewith (and all substitutions therefor as provided by Sections 3.3, 3.4 and 3.6 of the Pooling and Servicing Agreement), together with the related Subsequent Mortgage Loan documents and the interest in any Property which secured a Subsequent Mortgage Loan but which has been acquired by foreclosure or deed in lieu of foreclosure, and all payments thereon and proceeds of the conversion, voluntary or involuntary, of the foregoing; and proceeds of all the foregoing (including, but not by way of limitation, all proceeds of any mortgage insurance, hazard insurance and title insurance policy relating to the Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part of or are included in the proceeds of any of the foregoing). The Seller shall deliver the original Mortgage or mortgage assignment with evidence of recording thereon (except as otherwise provided by the Pooling and Servicing Agreement) and other required documentation in accordance with the terms set forth in Sections 3.5 and 3.8 of the Pooling and Servicing Agreement. The costs relating to the delivery of the documents specified in this Subsequent Transfer Agreement and the Pooling and Servicing Agreement shall be borne by the Seller. The Seller hereby affirms the representations and warranties set forth in the Pooling and Servicing Agreement that relate to the Seller and the Subsequent Mortgage Loans as of the date hereof. The Seller hereby delivers notice and confirms that each of the conditions set forth in Section 3.8(b), 3.8(c) and 3.8(d) to the Pooling and Servicing Agreement are satisfied as of the date hereof. Pursuant to Section 3.8(a) of the Pooling and Servicing Agreement, the Seller instructs the Trustee to release one-hundred percent of the aggregate principal balances of the Subsequent Mortgage Loans so transferred from the Pre-Funding Account, $20,236,270.79 pursuant to this Subsequent Transfer Agreement and to ...

Examples of Conveyance of Subsequent Mortgage Loans in a sentence

• Deloitte & Touche LLP will review the characteristics of a sample of the Subsequent Mortgage Loans described in the Final Subsequent Mortgage Loan Schedule and will compare those characteristics to the description of the Mortgage Loans contained in the Prospectus Supplement under the heading “The Mortgage Pool – Conveyance of Subsequent Mortgage Loans and the Pre-Funding Account”.

• See "The Mortgage Pool -- Conveyance of Subsequent Mortgage Loans" herein.

• The Pooling and Servicing Agreement will provide that each Mortgage Loan in the Mortgage Pool must conform to certain specified characteristics and, following the conveyance of the Subsequent Mortgage Loans, the Mortgage Pool must conform to certain specified characteristics, as described below under "--Conveyance of Subsequent Mortgage Loans and the Pre-Funding Accounts".

• Conveyance of Subsequent Mortgage Loans............................................

• Conveyance of Subsequent Mortgage Loans.........................................

• Conveyance of Subsequent Mortgage Loans........................................

• SECTION 2.08 Conveyance of Subsequent Mortgage Loans..............................................

• Conveyance of Subsequent Mortgage Loans.................................................

• Deloitte & Touche LLP will review the characteristics of a sample of the Subsequent Mortgage Loans described in the Final Subsequent Mortgage Loan Schedule and will compare those characteristics to the description of the Subsequent Mortgage Loans contained in the Prospectus Supplement under the captions "Summary of Terms - The Mortgage Pool" and "Conveyance of Subsequent Mortgage Loans and the Pre-Funding Account" and in Schedule A thereto.

• Revenue from Services is recognised as and when the Service is performed as per the relevant agreements.