File Folders. The Seller shall place all Basic Papers delivered to the Custodian in an appropriate file folder and in a logical order, properly secured, and clearly marked with the Customer’s last name and the Loan Number. The Seller shall not deliver to the Custodian, nor shall the Custodian be required to assume, or deemed to have assumed, custody of the File for any Purchased Loan that does not contain all of the Basic Papers. If such an incomplete File is delivered to the Custodian, within one (1) Business Day following examination of such File within the applicable time frame specified in Section 3.1, the Custodian shall notify the Seller that the Custodian is retaining the File pending the Custodian’s receipt of the missing Basic Papers (although the related Purchased Loan shall have zero Purchase Value from the Sixth Business Day after such Purchase Loan has been purchased until all Basic Papers are so received, except to the extent (if any) that the Agent exercises its discretionary authority under the Current Repurchase Agreement to count and treat such Purchased Loan as having Purchase Value.) The Basic Papers required to be included in each File shall consist of all documents listed on Exhibit C.
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Sources: Custody Agreement (MDC Holdings Inc)
File Folders. The Seller shall place all Basic Papers delivered to the Custodian in an appropriate file folder and in a logical order, properly secured, and clearly marked with the Customer’s last name and the Loan Number. The Seller shall not deliver to the Custodian, nor shall the Custodian be required to assume, or deemed to have assumed, custody of the File for any Purchased Loan that does not contain all of the Basic Papers. If such an incomplete File is delivered to the Custodian, within one (1) Business Day following examination of such File within the applicable time frame specified in Section 3.1, the Custodian shall notify the Seller that the Custodian is retaining the File pending the Custodian’s receipt of the missing Basic Papers (although the related Purchased Loan shall have zero Purchase Value from the Sixth Business Day after such Purchase Loan has been purchased until all Basic Papers are so received, received except to the extent (if any) that the Administrative Agent exercises its discretionary authority under the Current Repurchase Agreement to count and treat such Purchased Loan as having Purchase Value.) The Basic Papers required to be included in each File shall consist of all documents listed on Exhibit C.
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File Folders. The Seller shall place all Basic Papers delivered to the Custodian in an appropriate file folder and in a logical order, properly secured, and clearly marked with the Customer’s last name and the Loan Number. The Seller shall not deliver to the Custodian, nor shall the Custodian be required to assume, or deemed to have assumed, custody of the File for any Purchased Loan that does not contain all of the Basic Papers. If such an incomplete File is delivered to the Custodian, within one (1) Business Day following examination of such File within the applicable time frame specified in Section 3.1, the Custodian shall notify the Seller that the Custodian is retaining the File pending the Custodian’s receipt of the missing Basic Papers (although the related Purchased Loan shall have zero Purchase Value from the Sixth Business Day after such Purchase Loan has been purchased until all Basic Papers are so received, received except to the extent (if any) that the Administrative Agent exercises its discretionary authority under the Current Repurchase Agreement to count and treat such Purchased Loan as having Purchase Value.) The Basic Papers required to be included in each File shall consist of all documents listed on Exhibit C.
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