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

In addition, upon the occurrence and during the continuance of an Event of Default, Agent may, with respect to Pledged MERS Loans, direct MERS, pursuant to the applicable Electronic Tracking Agreement, to remove Borrower from the “Servicer” category on the MERS System and insert in place thereof, the Agent or its designee, or direct MERS to take such other action with respect to the Pledged MERS Loans as the Agent deems advisable.
During any time during which Borrower is using the MERS System, Borrower shall (a) at all times, maintain its status as a MERS Member, (b) at all times, employ officers who have the authority, pursuant to a corporate resolution from MERS, to execute assignments of mortgage in the name of MERS in the event deregistration from the MERS System is necessary or desirable, (c) at all times remain in full compliance with all terms and conditions of membership in MERS, including the MERSCORP, Inc.
Borrower shall not de-register or attempt to de-register any Pledged Mortgage Loan from the MERS System unless Borrower has complied with the requirements set forth in the Electronic Tracking Agreement and the requirements hereof and the other Loan Documents relating to a release of a Pledged Mortgage Loan.

More Definitions of MERS® System

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.

MERS® System. The system of recording transfers of Mortgage Loans electronically maintained by MERS. Mid America: Mid America Bank, fsb, and its successor in interest. Mid America Servicing Agreement: The Purchase, Warranties and Servicing Agreement, dated as of February 1, 2006, as amended by Amendment No. 1 to the Purchase, Warranties and Servicing Agreement, dated as of February 1, 2006, between Mid America and EMC, attached hereto as Exhibit H-5. MIN: The Mortgage Identification Number for Mortgage Loans registered with MERS on the MERS® System.