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Subordination. It is expressly understood and agreed that all of [[Organization B:Organization]]’s rights, title and interests in and to any Participated Mortgage Loan (including [[Organization B:Organization]]’s servicing rights, if any) are subordinate and inferior to [[Organization C:Organization]]’s Participation Interest in such Participated Mortgage Loan, from and after the Purchase Date for such Participated Mortgage Loan.

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Subordination. It is expressly understood and agreed that all of [[Organization B:Organization]]’s rights, title and interests in and to any Participated Mortgage Loan (including [[Organization B:Organization]]’s servicing rights, if any) are subordinate and inferior to [[Organization C:Organization]]’sExcept for the Participation Interest in such Participated Mortgage Loan, fromLoan and after the Purchase Date forany and all other rights, titles or interests of [[Organization C:Organization]] in or to such Participated Mortgage Loan.Loan and the related Mortgage Loan Documents: # [[Organization B:Organization]] is the sole direct, legal and beneficial owner of all rights, titles and interests in and to such Participated Mortgage Loan and the related Mortgage

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