Common use of Assumption and Modification Agreements Clause in Contracts

Assumption and Modification Agreements. When a Mortgaged Property has been or is about to be conveyed by the mortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may enter into an assumption and modification agreement with the person to whom the Mortgaged Property has been or is about to be conveyed, pursuant to which that person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor remains liable on it. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's Certificate certifying that the agreement is in compliance with this Section and by forwarding the original copy of the assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall be a part of the related Mortgage File. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the assumption to the extent that the change would not be permitted to be made in the original Credit Line Agreement pursuant to Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When a Mortgaged Property has been or is about to be conveyed by the mortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may enter into an assumption and modification agreement with the person to whom the Mortgaged Property has been or is about to be conveyed, pursuant to which that person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor remains liable on it. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's Certificate certifying that the agreement is in compliance with this Section and by forwarding the original copy of the assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall be a part of the related Mortgage File. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the assumption to the extent that the change would not be permitted to be made in the original Credit Line Agreement pursuant to Section 3.01(a)3.01. Any fee collected by the Master Servicer for entering into the assumption and modification agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Loan Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's Certificate signed by a Servicing Officer certifying that the such agreement is in compliance with this Section 3.05 and by forwarding to the Indenture Trustee the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Loan Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Loan Agreement pursuant to the fourth paragraph of Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's ’s Certificate signed by a Servicing Officer certifying that the such agreement is in compliance with this Section 3.05 and by forwarding to the Custodian the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Agreement pursuant to the fourth paragraph of Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's Certificate certifying that the such agreement is in compliance with this Section 3.05 and by forwarding to the applicable Custodian, as agent for the Trustee, the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Agreement pursuant to the fourth paragraph of Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When a Mortgaged Property has been or is about to be conveyed by the mortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may enter into an assumption and modification agreement with the person to whom the Mortgaged Property has been or is about to be conveyed, pursuant to which that person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor remains liable on it. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's ’s Certificate certifying that the agreement is in compliance with this Section and by forwarding the original copy of the assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall be a part of the related Mortgage File. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the assumption to the extent that the change would not be permitted to be made in the original Credit Line Agreement pursuant to Section 3.01(a)3.01. Any fee collected by the Master Servicer for entering into the assumption and modification agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Loan Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's Certificate certifying that the such agreement is in compliance with this Section 3.05 and by forwarding to the applicable Custodian, as agent for the Trustee, the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Loan Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Loan Agreement pursuant to the fourth paragraph of Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Loan Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's ’s Certificate signed by a Servicing Officer certifying that the such agreement is in compliance with this Section 3.05 and by forwarding to the Indenture Trustee the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Loan Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Loan Agreement pursuant to the fourth paragraph of Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's ’s Certificate signed by a Servicing Officer certifying that the such agreement is in compliance with this Section 3.05 and by forwarding to the Indenture Trustee the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Agreement pursuant to the fourth paragraph of Section 3.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.

Assumption and Modification Agreements. When In any case in which a Mortgaged Property has been or is about to be conveyed by the mortgagorMortgagor, the Master Servicer shall exercise its right to accelerate the maturity of the such Mortgage Loan consistent with the then current practice of the Master Servicer and without regard to the inclusion of the such Mortgage Loan in the Trust. If it elects not to enforce its right to accelerate or if it is prevented from doing so by applicable law, the Master Servicer (so long as its such action conforms with the underwriting standards generally acceptable in the industry at the time for new origination) may is authorized to take or enter into an assumption and modification agreement from or with the person Person to whom the such Mortgaged Property has been or is about to be conveyed, pursuant to which that person such Person becomes liable under the Credit Line Agreement and, to the extent permitted by applicable law, the mortgagor Mortgagor remains liable on itthereon. The Master Servicer shall notify the Indenture Trustee that any assumption and modification agreement has been completed by delivering to the Indenture Trustee an Officer's ’s Certificate signed by a Servicing Officer certifying that the such agreement is in compliance with this Section 4.05 and by forwarding to the Custodian the original copy of the such assumption and modification agreement. Any such assumption and modification agreement to the Indenture Trustee. Any assumption and modification agreement shall shall, for all purposes, be considered a part of the related Mortgage FileFile to the same extent as all other documents and instruments constituting a part thereof. No change in the terms of the related Credit Line Agreement may be made by the Master Servicer in connection with the any such assumption to the extent that the such change would not be permitted to be made in respect of the original Credit Line Agreement pursuant to the fourth paragraph of Section 3.01(a4.01(a). Any fee collected by the Master Servicer for entering into the assumption and modification any such agreement will be retained by the Master Servicer as additional servicing compensation.