Notice and Evidence of Defect. The Purchaser shall notify the Seller of each Defective Asset with respect to which the Purchaser seeks a Remedy under Section 8.01 promptly upon discovery of the Defect, but in any event no later than ten (10) Business Days after the last day of the month in which such discovery occurs; provided, however, that if a Reimbursed Party receives written notice of a Third Party Claim, the Purchaser shall notify the Seller of the Defect that is the basis of such Third Party Claim within ten (10) Business Days after the Reimbursed Party receives notice of the Third Party Claim. Such notice (the “Defect Notice”) shall be in writing on the Purchaser’s letterhead and shall include the following information:
Appears in 4 contracts
Samples: Servicing Business Asset Purchase Agreement, Servicing Business Asset Purchase Agreement, Servicing Business Asset Purchase Agreement
