Acceptance of the Mortgage Loans. (a) Based on the Initial Certification received by it from the Custodian, the Trustee acknowledges receipt of, subject to the further review and exceptions reported by the Custodian pursuant to the procedures described below, the documents (or certified copies thereof) delivered to the Trustee or the Custodian on its behalf pursuant to Section 2.01 and declares that it holds and will continue to hold directly or through a custodian those documents and any amendments, replacements or supplements thereto and all other assets of the Trust Fund delivered to it in trust for the use and benefit of all present and future Holders of the Certificates. On the Closing Date, the Trustee or the Custodian on its behalf will deliver an Initial Certification, in the form of Exhibit One to the Custodial Agreement, confirming whether or not it has received the Mortgage File for each Mortgage Loan, but without review of such Mortgage File, except to the extent necessary to confirm whether such Mortgage File contains the original Mortgage Note or a lost note affidavit and indemnity in lieu thereof. No later than 90 days after the Closing Date, the Trustee or the Custodian on its behalf shall, for the benefit of the Certificateholders, review each Mortgage File delivered to it and execute and deliver to EMC (on its own behalf and on behalf of Master Funding) and the Master Servicer and, if reviewed by the Custodian or the Trustee, an Interim Certifications, substantially in the form of Exhibit Two to the Custodial Agreement. In conducting such review, the Trustee or the Custodian on its behalf will ascertain whether all required documents have been executed and received and whether those documents relate, determined on the basis of the Mortgagor name, original principal balance and loan number, to the Mortgage Loans identified in Exhibit B to this Agreement, as supplemented (provided, however, that with respect to those documents described in subclauses (iv) and (vi) of Section 2.01, such obligations shall extend only to documents actually delivered pursuant to such subclauses). In performing any such review, the Trustee and the Custodian may conclusively rely on the purported due execution and genuineness of any such document and on the purported genuineness of any signature thereon. If the Trustee or the Custodian on its behalf finds any document constituting part of the Mortgage File not to have been executed or received, or to be unrelated to the Mortgage Loans identified ...
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of the Master Servicer and the Seller. Section 2.04 Representations and Warranties of the Depositor.
Acceptance of the Mortgage Loans. (a) Based on the initial trust receipt received by it from the Custodian pursuant to the Custodial Agreement, the Trustee acknowledges receipt, subject to the provisions of Section 2.01 hereof and Section 2 of the Custodial Agreement, of the Mortgage Loan Documents and all other assets included in the definition of “REMIC I” under clauses (i), (ii) (iii), (v) and (vi) (to the extent of amounts deposited into the Distribution Account) and declares that it holds (or the Custodian on its behalf holds) and will hold such documents and the other documents delivered to it constituting a Mortgage Loan Document, and that it holds (or the Custodian on its behalf holds) or will hold all such assets and such other assets included in the definition of “REMIC I” in trust for the exclusive use and benefit of all present and future Certificateholders.
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of the Master Servicer and EMC as a Seller.
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of the Servicer and the Seller.
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of the Company, the Master Servicer, the Trustee and the Seller.
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of the Company, the Master Servicer, and EMC as a Seller. Section 2.04 Representations and Warranties of the Depositor.
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of the Sponsor.
Acceptance of the Mortgage Loans. 45- Section 2.03 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY, THE MASTER SERVICER AND THE SELLER...................................................................................-47- Section 2.04 REPRESENTATIONS AND WARRANTIES OF THE DEPOSITOR..............................................-52- Section 2.05 DELIVERY OF OPINION OF COUNSEL IN CONNECTION WITH SUBSTITUTIONS AND REPURCHASES. ............................................................................................-54- Section 2.06 COUNTERSIGNATURE AND DELIVERY OF CERTIFICATES................................................-54-
Acceptance of the Mortgage Loans. Section 2.03 Representations, Warranties and Covenants of GMACM and the Sponsor.
