Common use of Assignment of Mortgage Clause in Contracts

Assignment of Mortgage. An assignment of the Mortgage, notice of transfer or equivalent instrument in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the transfer of the Mortgage to the party indicated therein, which assignment, notice of transfer or equivalent instrument may be in the form of one or more blanket assignments covering the Mortgage Loans secured by Mortgaged Properties located in the same jurisdiction, if permitted by law. Best Efforts: Efforts determined to be reasonably diligent by each Seller (with respect to its related Mortgage Loans) or the Servicer, as the case may be, in its sole discretion. Such efforts do not require either Seller (with respect to its related Mortgage Loans) or the Servicer, as the case may be, to enter into any litigation, arbitration or other legal or quasi-legal proceeding, nor do they require either Seller (with respect to its related Mortgage Loans) or the Servicer, as the case may be, to advance or expend fees or sums of money in addition to those specifically set forth in this Agreement.