Common use of Duty to Enforce Clause in Contracts

Duty to Enforce. Except as otherwise provided in Subsection 5.8(2) and Section 5.9, the Direct Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Servicer has knowledge that a Mortgaged Property, or an ownership interest in a Person that owns the Mortgaged Property, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.

Appears in 3 contracts

Samples: Single Family Master Trust Agreement, Master Trust Agreement, 2016 Single Family Master Trust Agreement

AutoNDA by SimpleDocs

Duty to Enforce. Except as otherwise provided in Subsection 5.8(25.9(2) and Section 5.95.10, the Direct Primary Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Primary Servicer has knowledge that a Mortgaged Property, or an ownership any direct or indirect interest in a Person that owns the Mortgaged PropertyBorrower or a Key Principal, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct Primary Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.enforcement.‌

Appears in 2 contracts

Samples: 2009 Multifamily Master Trust Agreement, 2007 Multifamily Master Trust Agreement

Duty to Enforce. Except as otherwise provided in Subsection 5.8(2) and Section 5.9, the Direct Primary Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Primary Servicer has knowledge that a Mortgaged Property, or an ownership any direct or indirect interest in a Person that owns the Mortgaged PropertyBorrower or a Key Principal, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct iii)the Primary Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.enforcement.‌

Appears in 2 contracts

Samples: 2021 Multifamily Master Trust Agreement, 2017 Multifamily Master Trust Agreement

Duty to Enforce. Except as otherwise provided in Subsection 5.8(25.9(2) and Section 5.95.10, the Direct Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Servicer has knowledge that a Mortgaged Property, or an ownership interest in a Person that owns the Mortgaged Property, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.

Appears in 2 contracts

Samples: Single Family Master Trust Agreement, 2009 Single Family Master Trust Agreement

Duty to Enforce. Except as otherwise provided in Subsection 5.8(2) and Section 5.9, the Direct Primary Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Primary Servicer has knowledge that a Mortgaged Property, or an ownership any direct or indirect interest in a Person that owns the Mortgaged PropertyBorrower or a Key Principal, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct Primary Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.enforcement.‌

Appears in 1 contract

Samples: Amended and Restated 2021 Multifamily Master Trust Agreement

Duty to Enforce. Except as otherwise provided in Subsection 5.8(2) and and‌ Section 5.9, the Direct Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Servicer has knowledge that a Mortgaged Property, or an ownership interest in a Person that owns the Mortgaged Property, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.

Appears in 1 contract

Samples: Second Amended and Restated 2016 Single Family Master Trust Agreement

AutoNDA by SimpleDocs

Duty to Enforce. Except as otherwise provided in Subsection 5.8(2) and Section 5.9, the Direct Primary Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Primary Servicer has knowledge that a Mortgaged Property, or an ownership any direct or indirect interest in a Person that owns the Mortgaged PropertyBorrower or a Key Principal, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under under‌ the related Mortgage Documents, and (iii) the Direct Primary Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.

Appears in 1 contract

Samples: Multifamily Master Trust Agreement

Duty to Enforce. Except as otherwise provided in Subsection 5.8(25.9(2) and and‌ Section 5.95.10, the Direct Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Servicer has knowledge that a Mortgaged Property, or an ownership interest in a Person that owns the Mortgaged Property, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.

Appears in 1 contract

Samples: Second Amended and Restated 2007 Single Family Master Trust Agreement

Duty to Enforce. Except as otherwise provided in Subsection 5.8(2) and Section 5.9, the Direct Primary Servicer will enforce any Due-on-Transfer Provision as provided in the related Mortgage Documents, if (i) the Direct Primary Servicer has knowledge that a Mortgaged Property, or an ownership any direct or indirect interest in a Person that owns the Mortgaged PropertyBorrower or a Key Principal, has been or is about to be transferred, (ii) the transfer would permit acceleration of the Mortgage Loan under the related Mortgage Documents, and (iii) the Direct iii)the Primary Servicer reasonably believes that the related Mortgage Documents and applicable law and regulation permit such enforcement.

Appears in 1 contract

Samples: 2010 Multifamily Master Trust Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!