Acceptance of Trust Fund by Trustee. (a) The Trustee, by its execution and delivery of this Agreement, hereby accepts receipt, directly or through a Custodian on its behalf, of (i) the Trust Mortgage Loans and all documents delivered to it that constitute portions of the related Mortgage Files and (ii) all other assets delivered to it and included in the Trust Fund, in good faith and without notice of any adverse claim, and declares that it or a Custodian on its behalf holds and will hold such documents and any other documents subsequently received by it that constitute portions of the Mortgage Files, and that it holds and will hold the Trust Mortgage Loans and such other assets, together with any other assets subsequently delivered to it that are to be included in the Trust Fund, in trust for the exclusive use and benefit of all present and future Certificateholders. To the extent that the Mortgage File for any Serviced Combination Trust Mortgage Loan relates to a Serviced Non-Trust Mortgage Loan, the Trustee shall also hold such Mortgage File in trust for the use and benefit of the related Serviced Non-Trust Mortgage Loan Noteholder. In connection with the foregoing, the Trustee hereby certifies to each of the other parties hereto, each Mortgage Loan Seller and each Underwriter that, as to each Trust Mortgage Loan, (i) the Specially Designated Mortgage Loan Documents are in its possession or the possession of a Custodian on its behalf, and (ii) the original Mortgage Note (or, if accompanied by a lost note affidavit, the copy of such Mortgage Note) received by it or any Custodian with respect to such Trust Mortgage Loan has been reviewed by it or by such Custodian on its behalf and (A) appears regular on its face (handwritten additions, changes or corrections shall not constitute irregularities if initialed by the Mortgagor), (B) appears to have been executed (where appropriate) and (C) purports to relate to such Trust Mortgage Loan.
Acceptance of Trust Fund by Trustee. Review of Documentation for Trust Fund.
Acceptance of Trust Fund by Trustee. (a) The Trustee, by its execution and delivery of this Agreement, hereby accepts receipt, directly or through a Custodian on its behalf, of (i) the Mortgage Loans and all documents delivered to it that constitute portions of the related Mortgage Files and (ii) all other assets delivered to it and included in the Trust Fund, in good faith and without notice of any adverse claim, and declares that it or a Custodian on its behalf holds and will hold such documents and any other documents subsequently received by it that constitute portions of the Mortgage Files, and that it holds and will hold the Mortgage Loans and such other assets, together with any other assets subsequently delivered to it that are to be included in the Trust Fund, in trust for the exclusive use and benefit of all present and future Certificateholders.
Acceptance of Trust Fund by Trustee. Review of ---------------------------------------------- Documentation for Trust Fund. (a) The Trustee, by execution and delivery ---------------------------- hereof, acknowledges receipt of the Mortgage Files pertaining to the Mortgage Loans listed on the Mortgage Loan Schedule, subject to review thereof by the Trustee, or by the applicable Custodian on behalf of the Trustee, under this Section 2.02. The Trustee, or the applicable Custodian on behalf of the Trustee, will execute and deliver on the Closing Date to the Depositor and the Master Servicer an Initial Certification in the form annexed hereto as Exhibit B-1.
Acceptance of Trust Fund by Trustee. Review of ---------------------------------------------- Documentation for Trust Fund. (a) The Trustee, by execution and delivery ---------------------------- hereof, acknowledges receipt of the Mortgage Files pertaining to the Mortgage Loans listed on the Mortgage Loan Schedule, subject to the Trustee's review thereof in its capacity as designee of the Purchaser under the Sale and Servicing Agreement. The Trustee executed and delivered as of November 13, 1996, an initial certification (the "Initial Certification") certifying as to its receipt of the documents required to be delivered pursuant to the Sale and Servicing Agreement and identifying any defects in such documents, and delivered such certification to the Depositor and to Household. Pursuant to Section 3.04 of the Sale and Servicing Agreement, Household is obligated to cure any Material Defect (as defined in the Sale and Servicing Agreement) identified in such Initial Certification, or to repurchase the related Mortgage Loan, within 90 days of receipt of such Initial Certification or other notice of such Material Defects.
Acceptance of Trust Fund by Trustee. (a) The Trustee, by its execution and delivery of this Agreement, acknowledges receipt of the Depositor's assignment to it of its right, title and interest in the Mortgage Loans and other assets constituting the Trust Fund, and further acknowledges receipt by it or a Custodian on its behalf, subject to the proviso in the definition of "
Acceptance of Trust Fund by Trustee. (a) The Trustee, by its execution and delivery of this Agreement, hereby accepts receipt, directly or through a Custodian on its behalf, of (i) the Trust Mortgage Loans and all documents delivered to it that constitute portions of the related Mortgage Files and (ii) all other assets delivered to it and included in the Trust Fund, in good faith and without notice of any adverse claim, and declares that it or a Custodian on its behalf holds and will hold such documents and any other documents subsequently received by it that constitute portions of the Mortgage Files, and that it holds and will hold the Trust Mortgage Loans and such other assets, together with any other assets subsequently delivered to it that are to be included in the Trust Fund, in trust for the exclusive use and benefit of all present and future Certificateholders. To the extent that the Mortgage File for any Serviced Combination Trust Mortgage Loan relates to a Serviced Non-Trust Mortgage Loan, the Trustee shall also hold such Mortgage File in trust for the use and benefit of the related Serviced Non-Trust Mortgage Loan
Acceptance of Trust Fund by Trustee. REVIEW OF DOCUMENTATION FOR TRUST FUND.
Acceptance of Trust Fund by Trustee. Review of Documentation for Trust Fund. (a) The Trustee, by execution and delivery hereof, acknowledges receipt by the applicable Custodian on its behalf of the Mortgage Files pertaining to the Mortgage Loans listed on the Mortgage Loan Schedule, subject to review thereof by the Trustee, or by the applicable Custodian on behalf of the Trustee, under this Section 2.02. The Trustee, or the applicable Custodian on behalf of the Trustee, will execute and deliver to the Trustee, the Depositor, Thornburg and the applicable Master Servicer on the Closing Dxxx xx Xxitial Certification in the form annexed hereto as Exhibit B-1 (or in the form annexed to the applicable Custodial Agreement as Exhibit B-1, as applicable).
Acceptance of Trust Fund by Trustee. Review of ---------------------------------------------- Documentation for Trust Fund. (a) The Trustee, by execution and delivery ---------------------------- hereof, acknowledges receipt of the Mortgage Files pertaining to the Mortgage Loans listed on the Mortgage Loan Schedule, subject to the Trustee's review thereof under this Section 2.02. The Trustee will execute and deliver on the Closing Date the Initial Certification in the form annexed hereto as Exhibit B-1.
