Custodian’s Review of Loan Contracts Sample Clauses

Custodian’s Review of Loan Contracts. Not later than three (3) business days following its receipt of the delivery of Loan Contracts, the Custodian shall, with respect to each Loan Contract: (i) verify all Loan Contracts listed on the Loan Contract Schedule are in its possession, (ii) verify such Loan Contracts have been reviewed by it and have not been mutilated, damaged, torn or otherwise physically altered (i.e. handwritten, typewritten or stamped additions, changes or corrections which are obvious on the face of such documents) and relate to each such Loan Contract, (iii) verify, based on its examination and only as to the foregoing documents, the information set forth on the Loan Contract Schedule with respect to the account number, obligor name, commencement date, original term and contract payment accurately reflects the information set forth in the Loan Contract, (iv) verify each document in the Loan Contracts appears on its face to be an executed original counterpart, and in the case of promissory notes, have attached an original allonge endorsing payment to Bank and (v) notify the Bank of any deficiency with respect to the Required Documentation. The Bank shall be entitled to have one or more of its representatives present during the time the Custodian is performing such verification or otherwise handling the Loan Contracts. The Custodian shall be under no duty or obligation to inspect or review or examine said document, instrument, certificate or other papers to determine that the same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded or that they purport to be on their face.
Sample 1
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Custodian’s Review of Loan Contracts. Not later than three (3) business days following its receipt of the delivery of Loan Contracts, the Custodian shall, with respect to each Loan Contract: (i) verify all Loan Contracts listed on the Loan Contract Schedule are in its possession, (ii) verify such Loan Contracts have been reviewed by it and have not been mutilated, damaged, torn or otherwise physically altered (i.e. handwritten, typewritten or stamped additions, changes or corrections which are obvious on the face of such documents) and relate to each such Loan Contract, (iii) verify, based on its examination and only as to the foregoing documents, the information set forth on the Loan Contract Schedule with respect to the account number, obligor name, commencement date, original term and contract payment accurately reflects the information set forth in the Loan Contract, (iv) verify each document in the Loan Contracts appears on its face to be an executed original counterpart, and in the case of promissory notes, have attached an original allonge endorsing payment to Administrative Agent for the benefit of the Lenders and (v) notify the Administrative Agent of any deficiency with respect to the Required Documentation. The Administrative Agent shall be entitled to have one or more of its representatives present during the time the Custodian is performing such verification or otherwise handling the Loan Contracts. The Custodian shall be under no duty or obligation to inspect or review or examine said document, instrument, certificate or other papers to determine that the same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded or that they purport to be on their face.
Sample 1

Related to Custodian’s Review of Loan Contracts

  • Review of Custodial Files The Custodian agrees, for the benefit of Certificateholders, to review, in accordance with the provisions of Section 2.02 of the Pooling and Servicing Agreement, each Custodial File and to provide the initial and final certifications in the forms of Exhibits N and O to the Pooling and Servicing Agreement in accordance with the provisions thereof. If in performing the review required by this Section 2.3 the Custodian finds any document or documents constituting a part of a Custodial File to be missing or defective, the Custodian shall follow the procedures specified in the Pooling and Servicing Agreement.

  • Servicing Programs No license or approval is required for the Administrative Agent’s use of any software or other computer program used by the Servicer, any Originator or any Sub-Servicer in the servicing of the Pool Receivables, other than those which have been obtained and are in full force and effect.

  • Servicing of Contracts ..53 Section 5.01 Initial Servicer's Appointment and Acceptance; Responsibility for Contract Administration.............................................................................53 Section 5.02

  • Subservicing Agreements Between Master Servicer and Subservicers (a) The Master Servicer may enter into Subservicing Agreements with Subservicers for the servicing and administration of the Mortgage Loans and for the performance of any and all other activities of the Master Servicer hereunder. Each Subservicer shall be either (i) an institution the accounts of which are insured by the FDIC or (ii) another entity that engages in the business of originating or servicing mortgage loans comparable to the Mortgage Loans, and in either case shall be authorized to transact business in the state or states in which the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Subservicer to perform its obligations hereunder and under the Subservicing Agreement, and in either case shall be a Xxxxxxx Mac or Xxxxxx Mae approved mortgage servicer. Any Subservicing Agreement entered into by the Master Servicer shall include the provision that such Agreement may be immediately terminated (x) with cause and without any termination fee by any Master Servicer hereunder or (y) without cause in which case the Master Servicer shall be responsible for any termination fee or penalty resulting therefrom. In addition, each Subservicing Agreement shall provide for servicing of the Mortgage Loans consistent with the terms of this Servicing Agreement. With the consent of the Indenture Trustee and the Bond Insurer, the Master Servicer and the Subservicers may enter into Subservicing Agreements and make amendments to the Subservicing Agreements or enter into different forms of Subservicing Agreements providing for, among other things, the delegation by the Master Servicer to a Subservicer of additional duties regarding the administration of the Mortgage Loans; provided, however, that any such amendments or different forms shall be consistent with and not violate the provisions of this Servicing Agreement, and that no such amendment or different form shall be made or entered into which could be reasonably expected to be materially adverse to the interests of the Bond Insurer or the Bondholders, without the consent of the Holders of Bonds representing not less than a majority of the aggregate Bond Principal Balance of the Bonds. The Master Servicer has entered into Subservicing Agreements with the Initial Subservicers for the servicing and administration of the Mortgage Loans and may enter into additional Subservicing Agreements with Subservicers acceptable to the Indenture Trustee and the Bond Insurer for the servicing and administration of certain of the Mortgage Loans.

  • Mortgage Loan Files Section 9.1 Owner Mortgage Loan Files and Retained Mortgage Loan Files

  • Administration and Servicing of Contracts Section 6.01 [Reserved].

  • Complete Servicing File All documents comprising the Servicing File will be or have been delivered to the Master Servicer with respect to each Mortgage Loan by the deadlines set forth in the Pooling and Servicing Agreement and/or this Agreement.

  • Interim Subcustodians Notwithstanding the provisions of Section 5.01 to the contrary, the Custodian shall not be liable to a Fund for any loss, damage or expense suffered or incurred by such Fund or any of its Portfolios resulting from the actions or omissions of an Interim Subcustodian unless such loss, damage or expense is caused by, or results from, the negligence, misfeasance or misconduct of the Custodian; provided however, in the event of any such loss, damage or expense, the Custodian shall take all reasonable steps to enforce such rights as it may have against such Interim Subcustodian to protect the interests of the Funds and the Portfolios.

  • CUSTODIAN CONTRACT This Contract between each fund or series of a fund listed on Appendix A which evidences its agreement to be bound hereby by executing a copy of this Contract (each such fund is individually hereafter referred to as the "Fund"), and State Street Bank and Trust Company, a Massachusetts trust company, having its principal place of business at 225 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, 00000, xxreinafter called the "Custodian",

  • Subservicing Agreements and Successor Subservicer (a) The Servicer may enter into subservicing agreements for any servicing and administration of the Mortgage Loans with any institution which (i) is an approved Xxxxxx Xxx or Xxxxxxx Mac Seller/Servicer as indicated in writing, (ii) which represents and warrants that it is in compliance with the laws of each state as necessary to enable it to perform its obligations under such subservicing agreement and (iii) which is acceptable to the NIMS Insurer. For this purpose, subservicing shall not be deemed to include the use of a tax service, or services for reconveyance, insurance or brokering REO Property or the retention of third party contractors to perform certain servicing and loan administration functions, including without limitation, hazard insurance administration, tax payment and administration, flood certification and administration, collection services and similar functions. The Servicer shall give prior written notice to the Master Servicer and the NIMS Insurer of the appointment of any subservicer and shall furnish to the Master Servicer and the NIMS Insurer a copy of such subservicing agreement. For purposes of this Agreement, the Servicer shall be deemed to have received payments on Mortgage Loans immediately upon receipt by any subservicer of such payments. Any such subservicing agreement shall be acceptable to the NIMS Insurer and be consistent with and not violate the provisions of this Agreement. Each subservicing agreement shall provide that a successor Servicer shall have the option to terminate such agreement without payment of any fees if the predecessor Servicer is terminated or resigns.

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