Common use of Sale Date Clause in Contracts

Sale Date. On the Sale Date: (a) All indicia of legal ownership to the Servicing, including all legal rights, obligations and duties with respect to the Servicing, shall be transferred to Purchaser as provided herein; (b) The following documents shall be exchanged between the parties: (i) this Agreement, duly executed by each of the parties hereto; (ii) the Interim Servicing Agreement, duly executed by each of the parties hereto; (iii) Seller shall have provided to Purchaser the duly executed corporate certificate required by Section 8.03; and (iv) Purchaser shall have provided to Seller the duly executed corporate certificate required by Section 9.03; (c) Seller shall assign to Purchaser its rights to receive the servicing fees and all incidental fees on the Mortgage Loans subject to the Interim Servicing Agreement; and (d) Purchaser shall pay to Seller the portion of the Purchase Price due on the Sale Date.