Common use of Future Defects Clause in Contracts

Future Defects. During the term of this Agreement, if the Collateral Agent discovers any defect set forth in Section 2.07(a) or 2.07(c) with respect to the items certified pursuant to Section 2.06 with respect to any Custodial Loan File, the Collateral Agent shall give written specification of such defect to the Trust, the Servicer, the Note Purchaser and the Indenture Trustee.