Common use of Mandatory Subservicing Agreement Clause in Contracts

Mandatory Subservicing Agreement. Within sixty (60) days of JPMorgan’s approval of an Authorized Subservicer (or within sixty (60) days of the Acceptance Date, if later), JPMorgan shall negotiate with each Approved Subservicer for the purpose of entering into a subservicing agreement that complies materially with the uniform terms mandated by this Subservicing Protocol (each, a “Subservicing Agreement”). The model for the Subservicing Agreement shall be that certain subservicing agreement, which consists of (i) the Standard Terms to Subservicing Agreement (Non-Agency Securitized Loans) entered on April 11, 2013 between JPMorgan as Servicer and SPS as Subservicer, and (ii) the Subservicing Agreement Supplements entered into in connection with each servicing transfer (the “Current SPS Agreement”), modified to comply with the incentives, compensation, servicing improvements and other provisions mandated by this Subservicing Protocol. Within sixty (60) days of the Acceptance Date, JPMorgan shall endeavor to amend the Current SPS Agreement with respect to the Subserviced Loans subserviced by SPS to be consistent with the model Subservicing Agreement (the “Amended SPS Agreement”). Each Subservicing Agreement shall include the following provisions:

Mandatory Subservicing Agreement. Within sixty (60) days of JPMorgan’s approval of an Authorized Subservicer (or within sixty (60) days of the Acceptance Date, if later), JPMorgan shall negotiate with each Approved Subservicer for the purpose of entering into a subservicing agreement that complies materially with the uniform terms mandated by this Subservicing Protocol (each, a “Subservicing Agreement”). The model for the Subservicing Agreement shall be that certain subservicing agreement, which consists of (i) the Standard Terms to Subservicing Agreement (Non-Agency Securitized Loans) entered on April 11, 2013 between JPMorgan as Servicer and SPS as Subservicer, and (ii) the Subservicing Agreement Supplements entered into in connection with each servicing transfer (the “Current SPS Agreement”), modified to comply with the incentives, compensation, servicing improvements and other provisions mandated by this Subservicing Protocol. Within sixty (60) days of the Acceptance Agreement Date, JPMorgan shall endeavor to amend the Current SPS Agreement with respect to the Subserviced Loans subserviced by SPS to be consistent with the model Subservicing Agreement (the “Amended SPS Agreement”). Each Subservicing Agreement shall include the following provisions: