Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 8.01(a) or (b) which would become an Event of Default upon such Master Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Securities Administrator and the Securities Administrator shall give prompt written notice thereof to the Certificateholders in accordance with Section 8.01.
Appears in 16 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Banc of America Funding 2006-3 Trust), Pooling and Servicing Agreement (Banc of America Funding Corp)
Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 8.01(a) or (b) which would become an Event of Default upon such Master Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Securities Administrator and the Securities Administrator shall give prompt written notice thereof to the Certificateholders in accordance with Section 8.01.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-2 Trust), Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-6 Trust), Pooling and Servicing Agreement (Banc of America Funding 2005-3 Trust)
Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 8.01(a) or (b) which would become an Event of Default upon such the Master Servicer's failure to remedy the same after notice, the Trustee shall may, but need not if the Trustee deems it not in the Certificateholder's best interest, give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Securities Administrator and the Securities Administrator shall give prompt written notice thereof to the Certificateholders in accordance with Section 8.01Certificateholders.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp), Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp), Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp)
Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 8.01(a) or (b) which would become an Event of Default upon such the Master Servicer's failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Securities Administrator and the Securities Administrator shall give prompt written notice thereof to the Certificateholders in accordance with Section 8.01.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-6 Trust), Pooling and Servicing Agreement (Banc of America Funding 2007-4 Trust), Pooling and Servicing Agreement (Banc of America Funding 2007-8 Trust)
Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 8.01(a) or (b) which would become an Event of Default upon such Master Servicer's ’s failure to remedy the same after notice, the Trustee shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Securities Administrator and the Securities Administrator shall give prompt written notice thereof to the Certificateholders in accordance with Section 8.01.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Action Upon Certain Failures of the Master Servicer and Upon Event of Default. In the event that a Responsible Officer of the Securities Administrator or Trustee shall have actual knowledge of any failure of the Master Servicer specified in Section 8.01(a) or (b) which would become an Event of Default upon such the Master Servicer's ’s failure to remedy the same after notice, the Trustee Securities Administrator or Trustee, as the case may be, shall give notice thereof to the Master Servicer. If a Responsible Officer of the Trustee shall have knowledge of an Event of Default, the Trustee shall give prompt written notice thereof to the Securities Administrator and the Securities Administrator shall give prompt written notice thereof to the Certificateholders in accordance with Section 8.01.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
