Notice to Borrowers. Each assigning Lender shall notify Borrowers at least three (3) Business Days prior to any assignment of such Xxxxxx’s rights and obligations under this Credit Agreement.
Notice to Borrowers. The Company shall, on a timely basis in accordance with any applicable Laws, and pursuant to the Limited Powers of Attorney granted to it pursuant to Section 3.1(d)(i), prepare and transmit to each Borrower a joint “hello” and “goodbye” letter, at the Company’s expense, which letter shall be subject to the review and reasonable approval of the Initial Member.
Notice to Borrowers. The Administrative Agent shall promptly notify the Borrowers of the terms (x) of any Competitive Bid Quote submitted by a Lender that is in accordance with subsection (d) of this Section and (y) of any Competitive Bid Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Lender with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote is submitted solely to correct a manifest error in such former Competitive Bid Quote. The Administrative Agent’s notice to the Borrowers shall specify (A) the aggregate principal amount of Competitive Bid Loans for which offers have been received for each Interest Period specified in the related Competitive Bid Quote Request, (B) the principal amounts and Competitive Bid Margins so offered and (C) if applicable, limitations on the aggregate principal amount of Competitive Bid Loans for which offers in any single Competitive Bid Quote may be accepted.
Notice to Borrowers. Each assigning Lender shall promptly notify Borrowers of any assignment of such Lender’s rights and obligations under this Credit Agreement.
Notice to Borrowers. While written communications, telephonic reminders or visits by the RCL's representatives to the borrowers place or residence will be used as loan follow up measures. RCL will not initiate repossession of the assets without giving due notice in writing. The minimum time that would be given to the borrower to pay all dues would be 7 (seven) days failing which RCL would proceed to take possession of the asset. However, if the Borrower deliberately avoids acknowledging or establishing contact with RCL then RCL will be free to proceed with the repossession of the asset/s.
a. However, such a notice may be waived in any of the following cases and circumstances: If it is found that the borrower has committed any fraud/misrepresentation in respect of the assets/vehicle;
b. In case it is found by RCL that the Borrower has disposed off or sold the vehicle to any third party without valid no objection letter from RCL
c. in case either the borrower is not traceable,
d. the borrower has handed over the possession of the vehicle to third party without RCL's consent
e. the Borrower fails to submit the vehicle for inspection if required by RCL,
Notice to Borrowers. The Company, on a timely basis in accordance with and to the extent (if any) required by any applicable Laws, and pursuant to the Limited Powers of Attorney granted to it pursuant to Section 3.1(d)(i), must prepare and transmit to each Borrower a joint “hello” and “goodbye” letter, at the Company’s expense, which letter will be subject to the review and reasonable approval of the Transferor. With respect to each SFR Loan (if any), the Company must, on a timely basis in accordance with the HFSH Act, prepare and transmit to each Borrower any notice required by the HFSH Act.
Notice to Borrowers. Correspondent shall mail notice of transfer of servicing to the Borrower of each Loan as required by federal law (RESPA). Such notice shall be in a form approved by GMACM prior to mailing. Such notice shall be sent through the United States Mail, first class postage prepaid at the Correspondent's expense.
Notice to Borrowers. No later than thirty (30) days prior to the Servicing Transfer Date, the Company (or the Servicer) shall provide the Initial Member with all information necessary to allow the Initial Member to prepare and send to Borrowers a “goodbye” letter meeting the requirements of, and in accordance with, RESPA, if applicable. Based upon the information provided by the Company, the Initial Member shall send to Borrowers such “goodbye” letter. The Company (or the Servicer) shall provide a “hello” letter to Borrowers meeting the requirements of and in accordance with RESPA, if applicable. Alternatively, if the Initial Member and the Company (or the Servicer) so agree, they may send a joint “hello/goodbye” letter to Borrowers meeting the requirements of and in accordance with RESPA, if applicable. The Initial Member and the Company (and the Servicer) shall each bear their own costs and expenses incurred to comply with their respective obligations contained in this Section (or, in the case of a decision to send a joint “hello/goodbye” letter, their respective costs shall be allocated among them), and no such costs or expenses shall be considered Post- Cut-Off Date Advances hereunder or Servicing Expenses for purposes of the Participation Agreement.
Notice to Borrowers. Seller and Purchaser shall work jointly to provide servicing transfer notices and any other similar notices to Mortgagors if and as may be required under the Applicable Servicing Requirements, including the Federal Real Estate Settlement Procedures Act codified § 2601 et seq. and implemented by Regulation X, 24 C.F.R. Part 3500, and if any such notices shall be required to be sent (or are otherwise sent) by either Party (or both Parties), each Party shall bear the expense of sending its own notices. In addition, and without limiting the generality of the foregoing sentence, at least fifteen (15) days prior to the Transfer Date, Seller shall, at Seller's expense, (a) in accordance with Applicable Servicing Requirements, notify the Mortgagor of each related Mortgage Loan of the transfer of the servicing to Purchaser and instruct the Mortgagor to remit all monthly payments to Purchaser after the Transfer Date, and (b) by the Transfer Date, notify any custodian, real estate tax authorities and insurance companies and/or agents, that the Servicing Rights are being transferred and instruct such entities to deliver all payments, notices, tax bills and insurance statements to Purchaser after the Transfer Date. No later than fifteen (15) days after the Transfer Date, Purchaser shall, at Purchaser's expense, in accordance with Applicable Servicing Requirements, notify the Mortgagor of each related Mortgage Loan of the transfer of the servicing to Purchaser and instruct the Mortgagor to remit all monthly payments to Purchaser after the Transfer Date. The form of such "goodbye letter" and "welcome letter" shall be approved not less than three (3) weeks in advance of the first Transfer Date by both Parties, which such approval shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, Seller and Purchaser may mutually agree to provide joint notifications to the Mortgagors consistent with Applicable Servicing Requirements.
Notice to Borrowers. Buyer or, at Seller's option, Seller shall promptly after the Loan Sale Closing Date, but in no event later than thirty (30) calendar days after the Loan Sale Closing Date, at its own cost and expense, give notice of this transfer to all Borrowers or Loan servicers, in the case of Borrowers located in the United States, by fIrst class U.S. mail at their current or last known address of record or, in the case of Borrowers located in a Foreign Jurisdiction, in such manner as may be required under the laws of such jurisdiction in order to effectively give notice to such Borrowers of the transfer of the Loans. In the event there is no known address for a Borrower, no personal notice to that Borrower shall be necessary. Upon subsequently locating such Borrower, Buyer shall send such notice to such Borrower. Buyer shall be liable to Seller for any and all costs and expenses incurred by Seller as a result of Buyer's failure to comply with the provisions of this section. Such costs and expenses shall include, but not be limited to, salaries of Seller's personnel and other administrative expenses, the time expended by each of Seller's employees involved in the performance of said acts at the rate of the greater of $75.00 per hour per employee or the then prevailing hourly rate per employee charged by the Seller or the FDIC to perform such services, plus all associated travel, lodging and per diem costs. Seller shall, in its sole and absolute discretion, determine and assign the personnel necessary to perform said acts. Buyer also agrees to reimburse Seller for copies made in the course of performing said acts at the rate of 25 cents ($.25) per copy. Nothing in this section shall require Seller to provide Buyer with any information or service in this regard.
