Common use of Agency Suspension Clause in Contracts

Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMC, then the Purchaser may immediately terminate this Agreement and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.

Appears in 3 contracts

Samples: Servicing Agreement (Franklin Finance Corp), Servicing Agreement (D&n Capital Corp), Servicing Agreement (Flagstar Capital Corp)

AutoNDA by SimpleDocs

Agency Suspension. Should the Servicer or any subservicer of the Mortgage Loans at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMC, then the Purchaser may immediately terminate this Agreement and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.

Appears in 2 contracts

Samples: Servicing Agreement (First Nationwide Preferred Capital Corp), Servicing Agreement (California Federal Preferred Capital Corpation)

Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA Xxxxxx Xxx or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA Xxxxxx Xxx or FHLMC, then the Purchaser Company may immediately terminate this Agreement and accelerate performance without assessment of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rightsany termination fee.

Appears in 1 contract

Samples: Servicing Agreement (Harris Preferred Capital Corp)

Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMC, then the Purchaser Owner may immediately terminate this Agreement and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rightsservicing rights.

Appears in 1 contract

Samples: Assumption and Recognition Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26)

AutoNDA by SimpleDocs

Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMCFNMA, then the Purchaser may immediately terminate this Agreement without assessment of any termination fee and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.

Appears in 1 contract

Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.