Common use of Award of Damages Clause in Contracts

Award of Damages. (i) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated.

Award of Damages. (i) In the event that an award of damages or other payments is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora Bank of America by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase and Sale Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase and Sale Agreement in the event of a breach by Aurora Bank of America of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage remainder of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora Bank of America by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase and Sale Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase and Sale Agreement in the event of a breach by Aurora Bank of America of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with Bank of America during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage remainder of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with ResCap during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with ResCap during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora Bank of America by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase and Sale Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase and Sale Agreement in the event of a breach by Aurora Bank of America of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage remainder of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora Bank of America by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase and Sale Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase and Sale Agreement in the event of a breach by Aurora Bank of America of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with Bank of America during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated.

Award of Damages. (i) In the event that an award of damages or other payments is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage remainder of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with ResCap during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages or other payments is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with ResCap during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with ResCap during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage remainder of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora ResCap by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora ResCap of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with ResCap during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase Agreement in the event of a breach by Aurora of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s 's designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s 's designee as to the award’s 's existence and request that the other Party or other Party’s 's designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated.

Award of Damages. (i) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora Bank of America by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase and Sale Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase and Sale Agreement in the event of a breach by Aurora Bank of America of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Percentage remainder of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages or other payment is received by a Party or a designee of a Party as a result of a claim, judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora Bank of America by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Servicing Business Asset Purchase and Sale Agreement in connection with the enforcement of the Residential Servicing Business Asset Purchase and Sale Agreement in the event of a breach by Aurora Bank of America of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i) or (ii), the Party or the Party’s 's designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s 's designee as to the award’s 's existence and request that the other Party or other Party’s 's designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated. (c) Two Business Days prior to each Distribution Date, the Seller shall, provide Purchaser with a monthly report of all claims and legal disputes made or pending with Bank of America during the prior month, including the amounts of any claims made or resolved during such month.

Award of Damages. (i) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora BofA by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Mortgage Servicing Business Asset Rights Purchase and Sale Agreement in connection with the enforcement of the Residential Mortgage Servicing Business Asset Rights Purchase and Sale Agreement in the event of a breach by Aurora BofA of any representations and warranties or covenants where such breach had an adverse impact on the value of the Total Servicing Spread, the Current Excess Servicing Spread Percentage of that award shall be distributed to Purchaser or its designee and the Seller Expense Retained Servicing Spread Percentage of that award shall be distributed to Seller or its designee. (ii) In the event that an award of damages is received by a Party or a designee of a Party as a result of a judgment, settlement or arbitration (including payment pursuant to a guaranty of Aurora BofA by any other Person) of a legal dispute that occurs either on or after the execution of the Residential Mortgage Servicing Business Asset Rights Purchase and Sale Agreement in connection with the enforcement of the Residential Mortgage Servicing Business Asset Rights Purchase and Sale Agreement in the event of a breach by Aurora BofA of any representations and warranties or covenants where such breach did not have an adverse impact on the value of the Total Servicing Spread, the entirety of the award shall be distributed to Seller or its designee. (b) In the event that a Party or designee of a Party receives an award pursuant to Sections 11.03(a)(i10.03(a)(i) or (ii) and some or all of that amount is to be distributed to the other Party or a designee of the other Party pursuant to Sections 11.03(a)(i10.03(a)(i) or (ii), the Party or the Party’s designee in possession of the applicable amount shall promptly notify the other Party or the other Party’s designee as to the award’s existence and request that the other Party or other Party’s designee, as applicable, designate an account to which the amount shall be remitted. Once the necessary account information has been provided by the appropriate Party or designee of a Party, the applicable amount shall be remitted by wire transfer of immediately available federal funds to the account so designated.