Common use of Servicing of Mortgage Loans Clause in Contracts

Servicing of Mortgage Loans. On each Closing Date, the Mortgage Loans in the related Mortgage Loan Package will be sold by the Seller to the Purchaser on a servicing released basis upon the execution and delivery of an Assignment and Conveyance in the form attached hereto as Exhibit E (the "Assignment and Conveyance"). Simultaneously with the execution and delivery of the related Assignment and Conveyance, for each Mortgage Loan Package, the Seller hereby agrees to interim service the Mortgage Loans listed on the Mortgage Loan Schedule in accordance with Accepted Servicing Practices and this Agreement. The rights of the Purchaser to receive payments with respect to the related Mortgage Loans shall be as set forth in this Agreement. The Seller shall transfer servicing of each Mortgage Loan to the Purchaser on the related Servicing Transfer Date, in compliance with Section 8.01 hereof. Any rights with respect to the servicing of the Mortgage Loans hereunder shall be assigned to the Purchaser and the Purchaser assumes any obligations thereunder with respect to the Mortgage Loans, except as otherwise provided in this Agreement.

Servicing of Mortgage Loans. On each Closing Date, the Mortgage Loans in the related Mortgage Loan Package will be sold by the Seller to the Purchaser on a servicing released basis upon the execution and delivery of an Assignment and Conveyance in the form attached hereto as Exhibit E (the "“Assignment and Conveyance"”). Simultaneously with the execution and delivery of the related Assignment and Conveyance, for each Mortgage Loan Package, the Seller hereby agrees to interim service the Mortgage Loans listed on the Mortgage Loan Schedule in accordance with Accepted Servicing Practices and this Agreement. The rights of the Purchaser to receive payments with respect to the related Mortgage Loans shall be as set forth in this Agreement. The Seller shall transfer servicing of each Mortgage Loan to the Purchaser on the related Servicing Transfer Date, in compliance with Section 8.01 hereof. Any rights with respect to the servicing of the Mortgage Loans hereunder shall be assigned to the Purchaser and the Purchaser assumes any obligations thereunder with respect to the Mortgage Loans, except as otherwise provided in this Agreement.