Common use of Disaster Recovery Plan Clause in Contracts

Disaster Recovery Plan. The Seller shall maintain its current business continuity plan (“BCP”) that addresses the continuation of services if an incident (act or omission) impairs or disrupts the Seller’s obligation to provide the services contemplated under this Addendum, as may be modified from time to time. The Seller agrees to provide Holdings (and any applicable regulatory agencies having jurisdiction over the Purchasers) with a copy of its entire BCP promptly following Holding’s request. The Seller warrants that the BCP conforms to Applicable Requirements and generally accepted industry standards for business continuity planning (collectively, the “BCP Standards”), which include, but are not limited to, recovery strategy, loss of critical personnel, restoring access to documents and data to the Purchaser, documented recovery plans covering all areas of operations pursuant to this Addendum, vital records protection, and testing plans. The Seller will maintain and test the BCP at regular intervals (no less frequently than annually) to ensure that the BCP complies with BCP Standards and shall provide reporting of the test results to Holdings upon request. The Seller will comply with the BCP during the term of this Addendum. The Seller shall notify Holdings promptly of any material modifications to the BCP. To the extent that Seller provides such BCP reporting of test results or notices of material modifications to such BCP to any NRZ O/S Entity under any NRZ Subservicing Agreement, such BCP reporting of test results or notices of material modifications to such BCP shall be deemed to have been delivered hereunder. The Seller shall provide disaster recovery and backup capabilities and facilities through which it will be able to perform its obligations under this Addendum with minimal disruptions or delays. The recovery strategy shall, at a minimum, provide for recovery after short and long term disruptions in facilities, environmental support, workforce availability and data processing equipment. If requested by Holdings, the Seller must provide evidence of its capability to meet any applicable regulatory requirement concerning business continuity applicable to the Purchaser or the Seller, it being understood that to the extent Seller has provided such evidence to any NRZ O/S Entity under any NRZ Subservicing Agreement, such evidence shall be deemed to have been provided hereunder. The Seller shall notify Holdings or any NRZ O/S Entity immediately (and in any event, within twelve (12) hours) of the occurrence of any catastrophic event that affects or could affect the Seller’s performance of the services contemplated under this Addendum. The BCP shall include appropriate provisions to ensure the continued availability of critical third-party services and to ensure an orderly transition to new service providers should that become necessary. The Seller shall comply with the Vendor Oversight Guidance with respect to business continuity plans of Vendors. Subject to Sections 10.17 and 2.4, the Seller shall require that any of its Vendors, Off-shore Vendors and Default Firms providing critical services with respect to this Addendum provide copies of their own business continuity plans to the Seller and the Seller shall make such plans available to the extent set forth in Exhibit Q, it being understood that to the extent Seller has provided such plans to any NRZ O/S Entity under any NRZ Subservicing Agreement, such plans shall be deemed to have been provided hereunder.

Disaster Recovery Plan. The Seller Subservicer shall maintain its current business continuity plan (“"BCP”") that addresses the continuation of services if an incident (act or omission) impairs or disrupts the SellerSubservicer’s obligation to provide the services contemplated under this Addendum, as may be modified from time to timeAgreement. The Seller Subservicer agrees to provide Holdings the Owner/Servicer (and any applicable regulatory agencies having jurisdiction over the PurchasersOwner/Servicer) with a copy of its entire BCP promptly following Holdingupon the Owner/Servicer’s request. The Seller Subservicer warrants that the BCP conforms to Applicable Requirements and generally accepted industry standards for business continuity planning (collectively, the “"BCP Standards”"), which include, but are not limited to, recovery strategy, loss of critical personnel, restoring access to documents and data to the PurchaserOwner/Servicer, documented recovery plans covering all areas of operations pursuant to this AddendumAgreement, vital records protection, and testing plans. The Seller Subservicer will maintain and test the BCP at regular intervals (no less frequently than annually) to ensure that the BCP complies with BCP Standards and shall provide reporting of the test results to Holdings the Owner/Servicer upon request. The Seller Subservicer will comply with the BCP during the term of this AddendumAgreement. The Seller Subservicer shall notify Holdings promptly the Owner/Servicer of any material modifications to the BCP. To the extent that Seller provides such BCP reporting of test results or notices of material modifications to such BCP to any NRZ O/S Entity under any NRZ Subservicing Agreement, such BCP reporting of test results or notices of material modifications to such BCP shall be deemed to have been delivered hereunder. The Seller Subservicer shall provide disaster recovery and backup capabilities and facilities through which it will be able to perform its obligations under this Addendum Agreement with minimal disruptions or delays. The recovery strategy shall, at a minimum, provide for recovery after short and long term disruptions in facilities, environmental support, workforce availability and data processing equipment. If requested by Holdingsthe Owner/Servicer, the Seller Subservicer must provide evidence of its capability to meet any applicable regulatory requirement concerning business continuity applicable to the Purchaser Owner/Servicer or the SellerSubservicer. In the event that the Owner/Servicer’s internal requirements concerning business continuity diverge from those of the Subservicer, it being understood that the parties shall agree on a plan of enhancement with the reasonable, actual and documented out-of-pocket or internally allocated, as applicable, costs of the enhancement to the extent Seller has provided such evidence BCP to any NRZ Obe paid by the Owner/S Entity under any NRZ Subservicing Agreement, such evidence shall be deemed to have been provided hereunderServicer. The Seller Subservicer shall notify Holdings or any NRZ Othe Owner/S Entity Servicer immediately (and in any event, within twelve (12) hours) of the occurrence of any catastrophic event that affects or could affect the SellerSubservicer’s performance of the services contemplated under this AddendumAgreement. The BCP shall include appropriate provisions to ensure the continued availability of critical third-party services and to ensure an orderly transition to new service providers should that become necessary. The Seller shall comply with the Vendor Oversight Guidance with respect to business continuity plans of Vendors. Subject to Sections 10.17 and 2.4, the Seller Subservicer shall require that any of its Vendors, Off-shore Vendors and Default Firms providing critical services with respect to this Addendum Agreement provide copies of their own business continuity plans to the Seller Subservicer and the Seller Subservicer shall make such plans available to the extent set forth in Exhibit Q, it being understood that to the extent Seller has provided such plans to any NRZ OOwner/S Entity under any NRZ Subservicing Agreement, such plans shall be deemed to have been provided hereunderServicer upon request.

Disaster Recovery Plan. The Seller Subservicer shall maintain its current business continuity plan (“BCP”) that addresses the continuation of services if an incident (act or omission) impairs or disrupts the SellerSubservicer’s obligation to provide the services contemplated under this AddendumAgreement, as may be modified from time to time. The Seller Subservicer agrees to provide Holdings the Owner/Servicer (and any applicable regulatory agencies having jurisdiction over the PurchasersOwner/Servicer) with a copy of its entire BCP promptly following Holdingthe Owner/Servicer’s request. The Seller Subservicer warrants that the BCP conforms to Applicable Requirements and generally accepted industry standards for business continuity planning (collectively, the “BCP Standards”), which include, but are not limited to, recovery strategy, loss of critical personnel, restoring access to documents and data to the PurchaserOwner/Servicer, documented recovery plans covering all areas of operations pursuant to this AddendumAgreement, vital records protection, and testing plans. The Seller Subservicer will maintain and test the BCP at regular intervals (no less frequently than annually) to ensure that the BCP complies with BCP Standards and shall provide reporting of the test results to Holdings the Owner/Servicer upon request. The Seller Subservicer will comply with the BCP during the term of this AddendumAgreement. The Seller Subservicer shall notify Holdings the Owner/Servicer promptly of any material modifications to the BCP. To the extent that Seller Subservicer provides such BCP reporting of test results or notices of material modifications to such BCP to any NRZ O/S Entity under any NRZ Servicing/Subservicing Agreement or the NRM Agency Subservicing Agreement, such BCP reporting of test results or notices of material modifications to such BCP shall be deemed to have been delivered hereunder. The Seller Subservicer shall provide disaster recovery and backup capabilities and facilities through which it will be able to perform its obligations under this Addendum Agreement with minimal disruptions or delays. The recovery strategy shall, at a minimum, provide for recovery after short and long term disruptions in facilities, environmental support, workforce availability and data processing equipment. If requested by Holdingsthe Owner/Servicer, the Seller Subservicer must provide evidence of its capability to meet any applicable regulatory requirement concerning business continuity applicable to the Purchaser Owner/Servicer or the SellerSubservicer, it being understood that to the extent Seller Subservicer has provided such evidence to any NRZ O/S Entity under any NRZ Servicing/Subservicing Agreement or the NRM Agency Subservicing Agreement, such evidence shall be deemed to have been provided hereunder. The Seller Subservicer shall notify Holdings or any NRZ Othe Owner/S Entity Servicer immediately (and in any event, within twelve (12) hours) of the occurrence of any catastrophic event that affects or could affect the SellerSubservicer’s performance of the services contemplated under this AddendumAgreement. The BCP shall include appropriate provisions to ensure the continued availability of critical third-party services and to ensure an orderly transition to new service providers should that become necessary. The Seller Subservicer shall comply with the Vendor Oversight Guidance with respect to business continuity plans of Vendors. Subject to Sections 10.17 and 2.4, the Seller Subservicer shall require that any of its Vendors, Off-shore Vendors and Default Firms providing critical services with respect to this Addendum Agreement provide copies of their own business continuity plans to the Seller Subservicer and the Seller Subservicer shall make such plans available to the extent set forth in Exhibit Q, it being understood that to the extent Seller Subservicer has provided such plans to any NRZ O/S Entity under any NRZ Servicing/Subservicing Agreement or the NRM Agency Subservicing Agreement, such plans shall be deemed to have been provided hereunder.

Disaster Recovery Plan. The Seller Subservicer shall maintain its current business continuity plan (“BCP”) that addresses the continuation of services if an incident (act or omission) impairs or disrupts the SellerSubservicer’s obligation to provide the services contemplated under this AddendumAgreement, as may be modified from time to time. The Seller Subservicer agrees to provide Holdings the Owner/Servicer (and any applicable regulatory agencies having jurisdiction over the PurchasersOwner/Servicer) with a copy of its entire BCP promptly following Holdingthe Owner/Servicer’s request. The Seller Subservicer warrants that the BCP conforms to Applicable Requirements and generally accepted industry standards for business continuity planning (collectively, the “BCP Standards”), which include, but are not limited to, recovery strategy, loss of critical personnel, restoring access to documents and data to the PurchaserOwner/Servicer, documented recovery plans covering all areas of operations pursuant to this AddendumAgreement, vital records protection, and testing plans. The Seller Subservicer will maintain and test the BCP at regular intervals (no less frequently than annually) to ensure that the BCP complies with BCP Standards and shall provide reporting of the test results to Holdings the Owner/Servicer upon request. The Seller Subservicer will comply with the BCP during the term of this AddendumAgreement. The Seller Subservicer shall notify Holdings the Owner/Servicer promptly of any material modifications to the BCP. To the extent that Seller provides such BCP reporting of test results or notices of material modifications to such BCP to any NRZ O/S Entity under any NRZ Subservicing Agreement, such BCP reporting of test results or notices of material modifications to such BCP shall be deemed to have been delivered hereunder. The Seller Subservicer shall provide disaster recovery and backup capabilities and facilities through which it will be able to perform its obligations under this Addendum Agreement with minimal disruptions or delays. The recovery strategy shall, at a minimum, provide for recovery after short and long term disruptions in facilities, environmental support, workforce availability and data processing equipment. If requested by Holdingsthe Owner/Servicer, the Seller Subservicer must provide evidence of its capability to meet any applicable regulatory requirement concerning business continuity applicable to the Purchaser Owner/Servicer or the Seller, it being understood that to the extent Seller has provided such evidence to any NRZ O/S Entity under any NRZ Subservicing Agreement, such evidence shall be deemed to have been provided hereunderSubservicer. The Seller Subservicer shall notify Holdings or any NRZ Othe Owner/S Entity Servicer immediately (and in any event, within twelve (12) hours) of the occurrence of any catastrophic event that affects or could affect the SellerSubservicer’s performance of the services contemplated under this AddendumAgreement. The BCP shall include appropriate provisions to ensure the continued availability of critical third-party services and to ensure an orderly transition to new service providers should that become necessary. The Seller Subservicer shall comply with the Vendor Oversight Guidance with respect to business continuity plans of Vendors. Subject to Sections 10.17 and 2.4, the Seller Subservicer shall require that any of its Vendors, Off-shore Vendors and Default Firms providing critical services with respect to this Addendum Agreement provide copies of their own business continuity plans to the Seller Subservicer and the Seller Subservicer shall make such plans available to the extent set forth in Exhibit Q, it being understood that to the extent Seller has provided such plans to any NRZ O/S Entity under any NRZ Subservicing Agreement, such plans shall be deemed to have been provided hereunder.Q.

Disaster Recovery Plan. The Seller Servicer shall maintain its current business continuity plan (“BCP”) that addresses the continuation of services if an incident (act or omission) impairs or disrupts the SellerServicer’s obligation to provide the services contemplated under this Addendum, as may be modified from time to timeAgreement. The Seller Servicer agrees to provide Holdings (the Owner with a summary of the material terms of its BCP upon the Owner’s request and any applicable regulatory agencies having jurisdiction over shall provide the Purchasers) Owner with access to review a copy of its the entire BCP promptly following Holding’s requestBCP. The Seller Servicer warrants that the BCP conforms to Applicable Requirements and generally accepted industry standards for business continuity planning (collectively, the “BCP Standards”), which include, but are not limited to, recovery strategy, loss of critical personnel, restoring access to documents and data to the PurchaserOwner, documented recovery plans covering all areas of operations pursuant to this AddendumAgreement, vital records protection, protection and testing plans. The Seller Consistent with Acceptable Servicing Practices, the Servicer will maintain and test the BCP at regular intervals (no less frequently than annually) to ensure that the BCP complies with BCP Standards and shall provide reporting of the test results to Holdings upon requestthe Owner. The Seller will Servicer shall comply with the BCP during the term of this AddendumAgreement. The Seller Servicer shall notify Holdings promptly provide the Owner with prompt notice of any material modifications modification to the BCP. To BCP made after the extent that Seller provides date hereof and agrees to cooperate in good faith in addressing any questions or concerns of the Owner regarding such BCP reporting of test results or notices of material modifications to such BCP to any NRZ O/S Entity under any NRZ Subservicing Agreement, such BCP reporting of test results or notices of material modifications to such BCP shall be deemed to have been delivered hereundermodification. The Seller Servicer shall provide disaster recovery and backup capabilities and facilities through which it will be able to perform its obligations under this Addendum Agreement with minimal disruptions or delays. The recovery strategy shall, at a minimum, provide for recovery after short and long term disruptions in facilities, environmental support, workforce availability and data processing equipment. If requested by Holdings, the Seller must provide evidence of its capability to meet any applicable regulatory requirement concerning business continuity applicable to the Purchaser or the Seller, it being understood that to the extent Seller has provided such evidence to any NRZ O/S Entity under any NRZ Subservicing Agreement, such evidence shall be deemed to have been provided hereunder. The Seller Servicer shall notify Holdings or any NRZ O/S Entity the Owner immediately (and in any event, within twelve (12) hours) of the occurrence of any catastrophic event that affects or could affect the SellerServicer’s performance of the services contemplated under this AddendumAgreement and report to the Owner on at least an annual basis with respect to the effectiveness of its disaster recovery plan. The testing and validation of the Servicer’s disaster recovery plan must occur on at least an annual basis and results of these tests will be provided to the Owner upon request. The BCP shall include appropriate provisions to ensure the continued availability of critical third-party services and to ensure an orderly transition to new service providers should that become necessary. The Seller Servicer shall comply with the Vendor Oversight Guidance with respect undertake commercially reasonable efforts to business continuity plans of Vendors. Subject make requests to Sections 10.17 and 2.4, the Seller shall require that any of its Vendors, Off-shore Vendors and Default Firms third party contractors providing critical services with respect to this Addendum Agreement to provide copies of their own business continuity plans or summaries thereof to the Seller Servicer and the Seller Servicer shall make such plans or summaries thereof available to the extent set forth in Exhibit Q, it being understood that Owner upon request to the extent Seller has provided such plans so delivered to any NRZ O/S Entity under any NRZ Subservicing Agreement, such plans shall be deemed the Servicer and not subject to have been provided hereundera confidentiality agreement.