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The Mortgage Loan Purchase Agreement is a critical document used in Indian financial markets when one financial institution wishes to sell part or all of its mortgage loan portfolio to another institution. This transaction type is common for portfolio management, liquidity generation, or strategic realignment of assets. The agreement must comply with various Indian regulations, including the Banking Regulation Act, SARFAESI Act, and Transfer of Property Act. It typically includes detailed schedules of the loans being transferred, purchase price calculations, representations about loan quality, and servicing arrangements. The document is essential for financial institutions engaging in secondary market mortgage transactions and must address specific requirements of Indian property and banking laws while ensuring proper transfer of security interests and loan documentation.

1. Parties: Identifies the seller (typically a bank or financial institution) and purchaser of the mortgage loans

2. Background: Explains the context of the transaction, including the seller's ownership of the mortgage loans and the purchaser's intention to acquire them

3. Definitions: Defines key terms used throughout the agreement, including technical banking terms, property-related terms, and transaction-specific definitions

4. Purchase and Sale: Details the fundamental transaction terms, including purchase price calculation, payment mechanics, and closing conditions

5. Transfer Mechanics: Specifies the process and documentation required for transferring the mortgage loans, including registration requirements

6. Representations and Warranties of Seller: Seller's assurances regarding the mortgage loans, their origination, documentation, and compliance with laws

7. Representations and Warranties of Purchaser: Purchaser's assurances regarding its authority, capacity, and ability to complete the transaction

8. Covenants: Ongoing obligations of both parties, including regulatory compliance and document retention requirements

9. Servicing Transfer Provisions: Arrangements for transferring loan servicing responsibilities from seller to purchaser or designated servicer

10. Indemnification: Provisions for compensating parties for losses arising from breaches or misrepresentations

11. Events of Default: Circumstances constituting default and corresponding remedies

12. Term and Termination: Duration of the agreement and circumstances allowing early termination

13. Governing Law and Jurisdiction: Specifies Indian law as governing law and designates jurisdiction for disputes

14. Miscellaneous: Standard provisions including notices, amendments, assignments, and severability