Common use of Accounting Upon Termination of Servicer Clause in Contracts

Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article X, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Trustee the funds in any Account maintained by the Servicer; (b) deliver to its successor or, if none shall yet have been appointed, to the Trustee all Home Loan Files and related documents and statements held by it hereunder and a Home Loan portfolio computer tape; (c) deliver to its successor or, if none shall yet have been appointed, to the Trustee and the Certificateholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for payments or charges with respect to the Home Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)

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Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XIX hereof, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee the funds in any Account maintained by the ServicerPrincipal and Interest Account; (b) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee all Home Loan Business Files and related documents and statements held by it hereunder and a Home Business Loan portfolio computer tapediskette; (c) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee and and, upon request, to the Certificateholders Noteholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for the payments or charges with respect to the Home Business Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Business Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer under this Agreement.. -63- 70 ARTICLE XI

Appears in 1 contract

Samples: Sale and Servicing Agreement (First International Bancorp Inc)

Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XXV, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Owner Trustee the funds in any Trust Account maintained by the Servicer; (b) deliver to its successor or, if none shall yet have been appointed, to the Owner Trustee all Home Loan Files and related documents and statements held by it hereunder and a Home Loan portfolio computer tape; (c) deliver to its successor or, if none shall yet have been appointed, to the Owner Trustee and to the Trust and the Certificateholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for payments or charges with respect to the Home Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer under this Agreement.

Appears in 1 contract

Samples: Trust and Servicing Agreement (Finova Group Inc)

Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XServicer, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Trustee Trustee, the funds in any Account maintained by the ServicerAccount; (b) deliver to its successor or, if none shall yet have been appointed, to the Trustee all Home Loan Mortgage Files and related documents and statements held by it hereunder and a Home Mortgage Loan portfolio computer tape; (c) deliver to its successor or, if none shall yet have been appointed, to the Trustee and and, upon request, to the Certificateholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for the payments or charges with respect to the Home Mortgage Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Mortgage Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer "Servicer" under this Agreement.. [Remainder of this page intentionally left blank] 118

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)

Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XServicer, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Trustee Trustee, the funds in any Account maintained by the ServicerAccount; (b) deliver to its successor or, if none shall yet have been appointed, to the Trustee all Home Loan Mortgage Files and related documents and 77 statements held by it hereunder and a Home Mortgage Loan portfolio computer tape; (c) deliver to its successor or, if none shall yet have been appointed, to the Trustee and and, upon request, to the Certificateholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for the payments or charges with respect to the Home Mortgage Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Mortgage Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer "Servicer" under this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)

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Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XIX hereof, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee the funds in any Account maintained by the ServicerPrincipal and Interest Account; (b) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee all Home Loan Business Files and related documents and statements held by it hereunder and a Home Business Loan portfolio computer tapediskette; (c) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee and and, upon request, to the Certificateholders Noteholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for the payments or charges with respect to the Home Business Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Business Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer under this Agreement.. 57

Appears in 1 contract

Samples: Sale and Servicing Agreement (First International Bancorp Inc)

Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XIX hereof, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee the funds in any Account maintained by the ServicerPrincipal and Interest Account; (b) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee all Home Loan Business Files and related documents and statements held by it hereunder and a Home Business Loan portfolio computer tapediskette; (c) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee and and, upon request, to the Certificateholders Noteholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for the payments or charges with respect to the Home Business Loans; and (d) execute and deliver such instruments and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home Business Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer under this Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First International Bancorp Inc)

Accounting Upon Termination of Servicer. Upon termination of the Servicer under this Article XIX hereof, the Servicer --------- shall, at its own expense: (a) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee the funds in any Account maintained by the ServicerPrincipal and Interest Account; (b) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee all Home Loan SBA Files and related documents and statements held by it hereunder and a Home an SBA Loan portfolio computer tapediskette; (c) deliver to its successor or, if none shall yet have been appointed, to the Indenture Trustee and the Certificateholders a full accounting of all funds, including a statement showing the Monthly Payments collected by it and a statement of monies held in trust by it for the payments or charges with respect to the Home SBA Loans; and (d) execute and deliver such instruments instruments, consents or other documents and perform all acts reasonably requested in order to effect the orderly and efficient transfer of servicing of the Home SBA Loans to its successor and to more fully and definitively vest in such successor all rights, powers, duties, responsibilities, obligations and liabilities of the Servicer under this Agreement.. 62 69 ARTICLE XI

Appears in 1 contract

Samples: Sale and Servicing Agreement (First International Bancorp Inc)

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