Common use of Appointment of Subservicers Clause in Contracts

Appointment of Subservicers. HLSS shall not appoint any Subservicer other than OLS unless and until each rating agency that rated the related mortgage-backed securities as stated in the documentation for the related MBS Trust, shall have delivered written confirmation that the appointment of such Subservicer will not result in a reduction of the then-current ratings of such securities, if rating agency confirmation is required for the appointment of a subservicer under the related Servicing Agreement.

Appears in 10 contracts

Samples: Receivables Sale Agreement (New Residential Investment Corp.), Receivables Pooling Agreement (New Residential Investment Corp.), Receivables Pooling Agreement (Home Loan Servicing Solutions, Ltd.)

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Appointment of Subservicers. HLSS shall not appoint any Subservicer other than OLS unless and until each rating agency that rated the related mortgage-backed securities as stated in the documentation for the related MBS TrustMortgage Pool, shall have delivered written confirmation that the appointment of such Subservicer will not result in a reduction of the then-current ratings of such securities, if rating agency confirmation is required for the appointment of a subservicer under the related Servicing Agreement.

Appears in 2 contracts

Samples: Receivables Pooling Agreement (Home Loan Servicing Solutions, Ltd.), Receivables Sale Agreement (Home Loan Servicing Solutions, Ltd.)

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Appointment of Subservicers. HLSS shall not appoint any Subservicer other than OLS unless and until each rating agency that rated the related mortgage-backed securities as stated in the documentation for the related MBS Trustsecuritization trust (if applicable to the related Mortgage Pool), shall have delivered written confirmation that the appointment of such Subservicer will not result in a reduction of the then-current ratings of such securities, if rating agency confirmation is required for the appointment of a subservicer by HLSS under the related Designated Servicing Agreement.

Appears in 1 contract

Samples: Receivables Sale Agreement (New Residential Investment Corp.)

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