Interim Servicing Servicing Transfer Sample Clauses

Interim Servicing Servicing Transfer. The Mortgage Loans related to the Servicing Rights shall be interim serviced by Seller's servicing affiliate on a scheduled/scheduled basis on behalf of Buyer or any related third party purchaser of the Mortgage Loans in accordance with the terms of the Pooling Agreements. During such interim servicing period, Seller's servicing affiliate shall be entitled to receive the Servicing Fee prorated for the period of time it interim services the Mortgage Loans. Seller shall cause the servicing of the Mortgage Loans to be transferred to Buyer's designee or such third party purchaser in accordance with the terms of the Pooling Agreements and customary mortgage banking standards for such transfers on a date to be determined by Buyer (the "Servicing Transfer Date"). Buyer shall provide Seller with at least thirty (30) days' prior notice of the anticipated Servicing Transfer Date. On the Servicing Transfer Date, Buyer shall reimburse Seller for all Servicing Advances and Periodic Advances, if any, made by Seller's servicing affiliate after the Settlement Date and on or prior to such Servicing Transfer Date, and shall remit to Seller the amount of any prorated Servicing Fee earned, but not yet received by Seller or Seller's servicing affiliate by such Servicing Transfer Date. Except as provided above in this Section 5, neither Seller nor Seller's servicing affiliate shall have the right to retain any Servicing Advances, Periodic Advances or Servicing Compensation (including, without limitation, Servicing Fees) reimbursed or paid to Seller or Seller's servicing affiliate on or after the Settlement Date, or accrued and owing to Seller as of the Servicing Transfer Date (collectively, the "Buyer Purchased Amounts"). Seller shall or shall cause Seller's servicing affiliate to remit any such Buyer Purchased Amounts to Buyer promptly upon receipt thereof.