Common use of Acquisition of REO Property Clause in Contracts

Acquisition of REO Property. With respect to each such Underlying REO Property, (i) such Underlying REO Property is a Mortgaged Property acquired by the REO Subsidiary through foreclosure or by deed in lieu of foreclosure or otherwise, which was, prior to such foreclosure or deed in lieu of foreclosure, subject to the lien of a Purchased Mortgage Loan, and (ii) with respect to each such Underlying REO Property, upon the consummation of the related Transaction, Custodian shall have received the related Asset File and such Asset File shall not have been released from the possession of the Custodian for longer than the time periods permitted under the Custodial Agreement.

Acquisition of REO Property. With respect to each such Underlying Contributed REO Property, (i) such Underlying Contributed REO Property either (x) is a Mortgaged Property acquired by the REO Subsidiary through foreclosure or by deed in lieu of foreclosure or otherwise, which was, prior to such foreclosure or deed in lieu of foreclosure, subject to the lien of an Mortgage Loan that is a Purchased Mortgage LoanAsset or (y) has been approved as an Eligible Asset by Agent in its sole and absolute discretion, and (ii) with respect to each such Underlying REO Property, upon the consummation of the related Transaction, Custodian shall have received the related Asset File and such Asset File shall not have been released from the possession of the Custodian for longer than the time periods permitted under the Custodial Agreement.

Acquisition of REO Property. With respect to each such Underlying REO Property, (i) such Underlying REO Property is a Mortgaged Property acquired by the a REO Subsidiary through foreclosure or by deed in lieu of foreclosure or otherwise, which was, prior to such foreclosure or deed in lieu of foreclosure, subject to the lien of a Purchased Mortgage Loan, and (ii) with respect to each such Underlying REO Property, upon the consummation of the related Transaction, Custodian shall have received the related Asset File and such Asset File shall not have been released from the possession of the Custodian for longer than the time periods permitted under the Custodial Agreement.