Commencement of Servicing Responsibilities Sample Clauses

Commencement of Servicing Responsibilities. On each Closing Date, the Owner shall appoint the Servicer to perform, and the Servicer shall assume and accept such appointment for, all servicing responsibilities for the related Mortgage Loans on the related Mortgage Loan Schedule. Prior to each Closing Date, the Servicer shall have serviced the related Mortgage Loans in accordance with Accepted Servicing Practices from the date of origination of the related Mortgage Loans to the related Closing Date.
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Commencement of Servicing Responsibilities. In accordance with the terms and conditions set forth in this Agreement, the Servicer shall service the Mortgage Loans for and on behalf of the Owner from and after the Commencement Date for each Mortgage Loan. By selling each Mortgage Loan to the Purchaser under the Loan Purchase Agreement, the Servicer shall be deemed to agree to service the related Mortgage Loans for and on behalf of the Owner in accordance with the terms and conditions set forth in this Agreement and in such confirmation. Effective upon the Commencement Date for each Mortgage Loan, the Owner hereby appoints the Servicer to perform, and the Servicer hereby assumes and accepts such appointment for, all servicing responsibilities for the Mortgage Loans. On or prior to the initial Commencement Date hereunder, the Servicer shall provide to the Owner: (i) an Officer's Certificate of the Servicer, in the form of Exhibit E hereto, including all attachments thereto, and (ii) an opinion of counsel to the Servicer in the form of Exhibit F hereto.
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Commencement of Servicing Responsibilities. On each Transfer Date, the Owner shall appoint the Servicer to perform, and the Servicer shall assume and accept such appointment for, all servicing responsibilities for the related Mortgage Loans on the related Mortgage Loan Schedule. The engagement of the Servicer to perform the servicing responsibilities hereunder is not mandatory and is expressly conditioned upon the acquisition of the related Mortgage Loans by the Owner, the election of the Owner respecting the engagement of the Servicer to perform the related servicing responsibilities and the election, in the manner hereinafter set forth, of the Servicer to accept such transfer. Upon the Owner's determination in its sole discretion to engage the Servicer to perform the servicing responsibilities with respect to Conventional Loans, FHA Loans and/or VA Loans pursuant to the terms of this Agreement, the Owner shall execute a Confirmation Agreement in the form attached as Exhibit B-2 hereto, and deliver the same to the Servicer. The Owner shall notify the Servicer by telephone of its determination to transfer such servicing responsibilities to the Servicer and shall deliver the Confirmation Agreement to the Servicer within 2 Business Days of such verbal notification. The Servicer may elect to accept or reject on an all or nothing basis such engagement to perform the servicing responsibilities with respect to the additional Conventional Loans, FHA Loans and/or VA Loans by either (i) in the case of an acceptance, executing the Confirmation Agreement and delivering the same to the Owner in accordance with Section 10.06 within 5 Business Days of receipt of such Confirmation Agreement, or (ii) in the case of a rejection, by written notification thereof delivered to the Owner in accordance with Section 10.06 within 5 Business Days of receipt of such Confirmation Agreement.
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Commencement of Servicing Responsibilities. On the Closing Date, the Servicer shall assume all servicing responsibilities hereunder with respect to the Mortgage Loans.
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Commencement of Servicing Responsibilities. As of the date hereof, the Servicer shall assume all servicing responsibilities hereunder with respect to the Mortgage Notes.
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Commencement of Servicing Responsibilities. 14 2.04 Owner Covenants Regarding Transfer of Servicing .. 14
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Commencement of Servicing Responsibilities. With respect to each Mortgage Loan, prior to each Transfer Date, the Owner shall notify the Servicer and the Custodian of the related Transfer Date by delivering an Acknowledgment Agreement to the Servicer and the Custodian for execution. Subject to the Servicer's and the Custodian's execution of the Acknowledgment Agreement and the receipt of the related Servicer Mortgage File by the Servicer, the Servicer shall perform the servicing responsibilities as provided herein and as set forth in the related Acknowledgment Agreement relating to such Mortgage Loan. The Servicer shall have no obligation to accept a prospective mortgage loan for servicing hereunder in the event that in its reasonable discretion it determines that the terms upon which it would be required to service such mortgage loan are unacceptable. The Servicer shall promptly communicate any determination that it will not accept a mortgage loan for servicing to the Owner and NationsBank.
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Commencement of Servicing Responsibilities. Section 2.03. The Servicer to Act as Servicer Section 2.04. Collection of Mortgage Note Payments Section 2.05. Foreclosure Section 2.06. Sub-Servicing Agreements Section 2.07. Maintenance of Hazard Insurance Section 2.08. Maintenance of PMI Policy Section 2.09. Fidelity Bond and Errors and Omissions Insurance Section 2.10. Establishment of and Deposits to Collection Account Section 2.11. Permitted Withdrawals from Collection Account Section 2.12. Establishment of and Deposits to Escrow Account Section 2.13. Permitted Withdrawals from Escrow Section 2.14. Maintenance of FHA Mortgage Insurance and VA Guaranty Section 2.15. Notification of Adjustments Section 2.16. Completion and Recordation of Assignment of Mortgage and FHA and VA Change Notices Section 2.17. Protection of Accounts; Eligible Investments Section 2.18. Custodial Agreement Section 2.19. Servicing Compensation Section 2.20. Withdrawals and Substitutions of Mortgage Notes ARTICLE III REMITTANCES AND REPORTING BY THE SERVICER Section 3.01. Remittances to Trustee Section 3.02. Reporting by the Servicer Section 3.03. Annual Certificate Section 3.04. Annual Accountants' Report ARTICLE IV
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Commencement of Servicing Responsibilities. On or prior to each Transfer Date, the Owner shall notify the Servicer of the related Transfer Date by delivering an Acknowledgment Agreement to the Servicer. Notwithstanding anything herein or in the Acknowledgment Agreement to the contrary, subject to the Servicer's execution of the Acknowledgment Agreement, the obligation of the Servicer to perform the servicing responsibilities of the Mortgage Loans on and after each related Transfer Date is mandatory. The Servicer promptly shall notify the Owner if any such Servicing File does not contain any document necessary for the Servicer to perform its duties hereunder with respect to any Mortgage Loan, and the Owner shall use its Best Efforts to cause such document to be delivered promptly to the Servicer.
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Related to Commencement of Servicing Responsibilities

  • Sellers Engagement of Servicer to Perform Servicing Responsibilities Section 2.01. Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Servicing Transfer Date the Seller shall cause the Prior Servicer to deliver to the Servicer the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule. The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to the Servicer shall be held in trust by the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.

  • Acknowledgement of Services and Responsibility of the Manager The Resident acknowledges that neither the Manager nor the Institution stands in loco parentis with respect to the Resident. The Residence provides living accommodations for independent students who are to be responsible and accountable for their personal needs and their interactions with their fellow residents as opposed to residential care. The Manager is responsible for the maintenance and operation of the residence. The Manager, in consultation with the Institution, may from time to time, in its sole and unfettered discretion, establish and/or amend policies, protocols and guidelines to uphold and ensure compliance with the standards set forth by the Manager, all of which will constitute part of the Residence Community Living Standards or Institution Code of Conduct, as appropriate. The Resident hereby acknowledges and agrees that they are solely responsible for their compliance with / review of such policies, protocols and guidelines (as may be created, amended, revised or restated by the Manager) found at xxx.xxxxxxxxxxxxxxxxx.xx.

  • Monitoring Responsibilities The Custodian shall furnish annually to the Fund, during the month of June, information concerning the foreign sub-custodians employed by the Custodian. Such information shall be similar in kind and scope to that furnished to the Fund in connection with the initial approval of this Contract. In addition, the Custodian will promptly inform the Fund in the event that the Custodian learns of a material adverse change in the financial condition of a foreign sub-custodian or any material loss of the assets of the Fund or in the case of any foreign sub-custodian not the subject of an exemptive order from the Securities and Exchange Commission is notified by such foreign sub-custodian that there appears to be a substantial likelihood that its shareholders' equity will decline below $200 million (U.S. dollars or the equivalent thereof) or that its shareholders' equity has declined below $200 million (in each case computed in accordance with generally accepted U.S. accounting principles).

  • Responsibilities of Contractor A. The Contractor shall perform all work on the described project as required by the Contract documents. The work to be performed includes the labor and services necessary to produce such replacement, and all materials, supplies, tools, transportation, equipment, and machinery required for replacement. B. This project bid includes all materials, labor and equipment to complete the reconstruction and resurfacing of streets as outlined in the Project Manual for WWREYN - XXXXXXXX SANITARY SEWER - PHASE 1 dated March 25th, 2021 as outlined in Attachment A.

  • Employer Responsibilities Recognizing the inherent risk(s) in a correctional setting, the Employer is obligated to provide a safe workplace and to educate employees on proper safety procedures and use of protective and safety equipment. The Employer is committed to responding to legitimate safety concerns raised by the Union and employees. The Employer will comply with federal and state safety standards, including requirements relating to first aid training, first aid equipment and the use of protective devices and equipment.

  • Owner Responsibilities The project owner or the engineer or architect of record acting as the owner’s agent shall fund special inspection services.

  • Engineer Responsibilities No subcontract relieves the Engineer of any responsibilities under this contract.

  • Customer Responsibilities Notwithstanding the above, Customer agrees that except as provided by this DPA, Customer is responsible for its secure use of the Services, including securing its account authentication credentials, protecting the security of Customer Data when in transit to and from the Services and taking any appropriate steps to securely encrypt or backup any Customer Data uploaded to the Services.

  • Contractor Responsibilities 19.1. Contractor shall perform national criminal history checks for Ohio, Indiana, and Kentucky, and 10-panel drug screening tests on all prospective employees performing work under this RFP or coming onto a CMHA property and any resulting contract and provide summaries of the results to the Authority if requested. For the purposes of this section, the term “employees” includes contractor. Prospective employees whose criminal background check discloses a misdemeanor or felony involving crimes of moral turpitude, sexual offenses or harm to persons or property shall not be employed to perform work under this RFP or any resulting contract. Contractor is required to perform drug screening of all employees and to ensure acceptable test results. Criminal history and drug screening checks will be completed at the sole expense of the contractor. Any employee of the Contractor suspected of being under the influence of drugs and or alcohol will be reported to the appropriate personnel at CMHA and/or other local law enforcement. If the employee is determined to be under the influence of drugs or alcohol in any form or manner, or believed by proper authority to be dealing in illicit sale of alcohol or drugs they will be removed and shall not be allowed to return to any job site on the Authority’s property. The Contractor’s contract may be suspended and/or terminated should such a situation occur or if the Contractor fails to submit results pursuant to this section. 19.1.1. If CMHA requests additional drug screening, the test shall be performed within 24 hours and the summary shall be sent directly to CMHA from the testing facility. 19.2. Contractor(s) shall provide uniforms and ID Badges identifying Contractor for all employees working on CMHA’s properties. No employees will be allowed on CMHA’s properties out of uniform and without his/her ID badge on his/her person. Contractor(s) must submit a picture of the uniform and a sample of his/her ID badge if requested by CMHA. 19.3. Contractor’s personnel shall be neat and conduct all work in a professional and efficient manner. If any employee of Contractor is deemed unacceptable by CMHA, Contractor shall immediately replace such personnel with an acceptable substitute to CMHA. 19.4. Contractor(s) shall practice acceptable safety precautions so as not to cause harm to any persons or property while performing services under this RFP or any resulting contract. Contractor(s) shall follow industry safety standards, and use only industry approved safety equipment in accordance with the manufacturer’s specifications in the performance of all duties. 19.5. Contractor(s) shall pay all of its employees, including any and all approved Sub-Contractors, at least the legal minimum wages as determined by the United States Department of Labor and the United States Department of Housing and Urban Development and Department of Labor Prevailing Wage. Wage Determinations can be accessed via the Department of Labor website, xxx.xxxx.xxx. 19.6. Upon completion of the work, Contractor(s) shall clean up the area where the work was performed and Contractor(s) shall remove any debris generated by the products and/or services at CMHA premises. At no time, will Contractor(s) discard debris into any CMHA refuse container. 19.7. Contractor(s) shall clearly mark all work areas that might reasonably be expected to endanger the health and safety of residents, guests, or any other persons. Contractor(s) will provide such signs, markers and barricades as required to identify all work areas and minimize inherent dangers. 19.8. The contractor shall be responsible for notifying CMHA immediately of any damages (i.e. fire, container leaking) deemed to be a health or safety hazard whether the damage is caused by the contractor or other means. 19.9. The Contractor shall be responsible for safeguarding all CMHA property provided for Contractor use. At the close of each workday, CMHA facilities, property and materials shall be inspected and secured.

  • IRO Responsibilities The IRO shall: 1. perform each Claims Review in accordance with the specific requirements of the CIA;

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