Common use of Future Defects Clause in Contracts

Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to the Custodial File, the Custodian shall give written specification of such defect to the Purchaser. For purposes of this section, “defect” shall mean a failure of a document to correspond to the information set forth in the Mortgage Loan Schedule or the absence of a Mortgage File or any part thereof or any other document required pursuant to this Agreement. The Seller shall be solely responsible for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking any such action, causing the Seller or any other person or entity to do so or notify any person that ay such action has or has not been taken.

Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to the Custodial any Mortgage File, the Custodian shall give written specification of such defect to the PurchaserSeller and the Buyer. For purposes of this sectionSection, “defect” shall mean a failure of a document to correspond to the information set forth in the applicable Mortgage Loan Schedule or the absence of a Mortgage File or any part thereof or any other document required pursuant to this Agreement. The Each Seller shall be solely responsible for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking any such action, causing the such Seller or any other person or entity to do so or notify notifying any person Person that ay any such action has or has not been taken.

Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to the Custodial any Mortgage Loan File, the Custodian shall give written specification via the Exception Report of such defect to the Purchaserrelated Seller, the Registered Holder(s) and, if the Administrative Agent is not a Registered Holder, the Administrative Agent. For purposes of this sectionSection, “defect” shall mean means a failure of a document to correspond conform to the information review requirements set forth in the Mortgage Loan Schedule or the absence of a Mortgage File or any part thereof or any other document required pursuant to this AgreementSection 4(a). The Seller Sellers shall be solely responsible for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking or failing to take any such action, causing the any Seller or any other person or entity to do so or notify notifying any person Person that ay any such action has or has not been taken.

Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to the Custodial any Mortgage Loan File, the Custodian shall give written specification via the Exception Report of such defect to the Purchaserrelated Seller, the Registered Holder(s) and, if the Buyer is not a Registered Holder, the Buyer. For purposes of this sectionSection, “"defect” shall mean " means a failure of a document to correspond conform to the information review requirements set forth in the Mortgage Loan Schedule or the absence of a Mortgage File or any part thereof or any other document required pursuant to this AgreementSection 4(a). The Seller shall be solely responsible for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking or failing to take any such action, causing the Seller or any other person or entity to do so or notify notifying any person Person that ay any such action has or has not been taken.