Common use of Assumability Clause in Contracts

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;

Appears in 215 contracts

Sources: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements requirements, if any, stated in the Mortgage Loan Documents;

Appears in 33 contracts

Sources: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7), Pooling and Servicing Agreement (Morgan Stanley Capital I Inc. Trust 2006-He2), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;

Appears in 11 contracts

Sources: Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the documents contained in the Mortgage Loan Documents File provide that after the related first Interest Rate Adjustment DateDate of each such Adjustable Rate Mortgage Loan, a related such Adjustable Rate Mortgage Loan may only be assumed if the party assuming such Adjustable Rate Mortgage Loan meets certain credit requirements stated in the documents contained in the related Mortgage File related Mortgage Loan Documents;

Appears in 10 contracts

Sources: Pooling and Servicing Agreement (FFMLT Trust 2005-Ffa), Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-Sea), Pooling and Servicing Agreement (FFMLT Trust 2005-Ff11)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;

Appears in 7 contracts

Sources: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-11), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the The Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;

Appears in 4 contracts

Sources: Pooling and Servicing Agreement (Gs Mortgage Securities Corp. Gsaa Home Equity Trust 2004-9), Pooling and Servicing Agreement (GSAA Home Equity Trust 2005-2), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2004-Nc2)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2004-Op1), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2005-Op2), Pooling and Servicing Agreement (Sabr Trust 2005-Op1)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2001-Am1), Pooling and Servicing Agreement (GS Mortgage GSAMP Trust 2004-Opt), Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2003-He2)

Assumability. With respect to each Adjustable Rate adjustable rate Mortgage Loan, the Mortgage Loan Documents documents provide that after the related first Interest Rate Adjustment Dateinterest rate adjustment date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documentsdocuments;

Appears in 2 contracts

Sources: Master Repurchase Agreement (M I Homes Inc), Master Repurchase Agreement (M I Homes Inc)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;. None of the Mortgage Loans that are not Adjustable Rate Mortgage Loans are, by their terms, assumable.

Appears in 1 contract

Sources: Sale and Servicing Agreement (GSR 2007-Oa2)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment DateDate of each such Adjustable Rate Mortgage Loan, a related such Adjustable Rate Mortgage Loan may only be assumed if the party assuming such Adjustable Rate Mortgage Loan meets certain credit requirements stated in the related Mortgage Loan Documents;

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-Sea)

Assumability. With respect to each Adjustable Rate adjustable rate Mortgage Loan, the Mortgage Loan Documents and the Mortgage Note provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;Mortgage.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-10sl)

Assumability. With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan Documents provide that after the related first Interest Rate Adjustment Date, a related Mortgage Loan may only be assumed if the party assuming such Mortgage Loan meets certain credit requirements stated in the Mortgage Loan Documents;.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Mortgage Pass Through Certificates Series 2002-Op1)