Common use of Further Encumbrance of Trust Property Clause in Contracts

Further Encumbrance of Trust Property. Immediately upon ------------------------------------- the conveyance to the Purchaser by the Seller of any item of the Trust Property pursuant to Section 2.1, all right, title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Purchaser.

Appears in 1 contract

Sources: Purchase Agreement (Chevy Chase Bank FSB)

Further Encumbrance of Trust Property. Immediately upon ------------------------------------- the conveyance to the Purchaser by the Seller of any item of the Trust Property pursuant to Section 2.1, all right, title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Purchaser.

Appears in 1 contract

Sources: Loan Purchase Agreement (Chevy Chase Bank FSB)