Common use of Changes in Practices Clause in Contracts

Changes in Practices. The parties hereto acknowledge that the standard practices and procedures of the mortgage servicing industry change or may change over a period of time. To accommodate these changes, Subservicer may from time to time notify Owner/Servicer of such material changes in practices and procedures. Should any such proposed changes, made in good faith by Subservicer, be unacceptable to Owner/Servicer, then Subservicer shall have no further obligation to continue to accept Mortgages for subservicing under the terms of this Agreement, and may terminate this Agreement in accordance with Article V.

Appears in 2 contracts

Samples: Subservicing Agreement (Crescent Banking Co), Subservicing Agreement (Crescent Banking Co)

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Changes in Practices. The parties hereto acknowledge that the standard practices and procedures of the mortgage servicing industry change or may change over a period of time. To accommodate these changes, Subservicer may from time to time notify OwnerLender/Servicer of such material changes in practices and procedures. Should any such proposed changes, made in good faith by Subservicer, be unacceptable to OwnerLender/Servicer, then Subservicer shall have no further obligation to continue to accept Mortgages for subservicing under the terms of this Agreement, and may terminate this Agreement in accordance with Article V.

Appears in 1 contract

Samples: Subservicing Agreement (Essex Bancorp Inc /New)

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Changes in Practices. The parties hereto Parties acknowledge that the standard practices -------------------- and procedures of the mortgage servicing industry change or may change over a period of time. To accommodate these changes, Subservicer may from time to time notify Owner/Servicer Lender of such material changes in practices and procedures. Should any such proposed changes, made in good faith by Subservicer, be unacceptable to Owner/ServicerLender, then Subservicer shall have no further obligation to continue to accept Mortgages for subservicing under the terms of this AgreementSA, and may terminate this Agreement SA in accordance with Article ARTICLE V.

Appears in 1 contract

Samples: Subservicing Agreement (United Panam Financial Corp)

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