MERS® System definition

MERS® System. The system of recording transfers of mortgages electronically maintained by MERS.

MERS® System. The system of recording transfers of Mortgages electronically maintained by MERS. MIN: The Mortgage Identification Number for Mortgage Loans registered with MERS on the MERS® System.

MERS® System. MERS mortgage electronic registry system, as more particularly described in the MERS Procedures Manual.

Examples of MERS® System in a sentence

• The Servicer shall take all actions necessary to ensure that all Loans registered on the MERS® System shall remain registered unless default, foreclosure or similar legal or MERS requirements dictate otherwise.

• The Servicer shall provide the Company and the Participant with such reports from MERS as either the Company or the Participant, from time to time, may request, including to allow the Company to verify the Persons identified on the MERS® System as having any interest in any of the Loans and to confirm that the Loans registered on the MERS® System continue to be so registered.

• The Servicer shall provide the Manager and the Initial Member with such reports from the MERS® System as the Manager or the Initial Member, from time to time, may request, including to allow the Manager and the Initial Member to verify the Persons identified on the MERS® System as having any interest in any of the Mortgage Loans and to confirm that the Mortgage Loans required to be registered on the MERS® System are so registered.

• No Person other than MERS, solely as nominee for the Company and its successors and assigns, shall be identified on the MERS® System as having any interest in any of the Loans that are so registered unless otherwise consented to by the Participant.

• Except as otherwise directed by the Manager (in connection with a voluntary removal by the Manager of any Mortgage Loan from the MERS® System pursuant to Section 12.3(g) of the LLC Operating Agreement), all Mortgage Loans registered on the MERS® System shall remain registered on the MERS® System unless default, foreclosure or similar legal or MERS® requirements dictate otherwise.

More Definitions of MERS® System

MERS® System means the MERSCORP, Inc. mortgage electronic registry system, as more particularly described in the MERS Procedures Manual (a copy of which is attached as an exhibit to the Electronic Tracking Agreement).

MERS® System. The system of recording transfers of mortgages electronically maintained by MERS. MIN: The eighteen digit Mortgage Identification Number.

MERS® System means the mortgage electronic registry system operated by the Electronic Agent that tracks changes in Mortgage ownership, mortgage servicers and servicing rights ownership.

MERS® System means the Mortgage Electronic Registration System established by MERS.

MERS® System has the meaning given that term in the Electronic Tracking Agreement.

MERS® System. The electronic registration system maintained by MERS.

MERS® System. The mortgage electronic registry system operated by the Electronic Agent that tracks changes in Mortgage ownership, mortgage servicers and servicing rights ownership.