Common use of Notices to Obligors on Loans Clause in Contracts

Notices to Obligors on Loans. (a) Purchaser shall, following the Final Approval Date, but no later than 15 days prior to the Closing Date, prepare and transmit, at Purchaser’s sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s name as payee on any checks or other instruments used to make such payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s notice pursuant to the prior sentence shall be legally insufficient, Seller agrees, at Purchaser’s sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Act (12 U.S.C. § 2601, et seq.), Seller and Purchaser will jointly coordinate any appropriate required Customer notices.

Notices to Obligors on Loans. (a) Purchaser shall, following the Final Approval Date, but no later than 15 days prior to the Closing Date, prepare and transmit, at Purchaser’s 's sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s 's name as payee on any checks or other instruments used to make such payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s 's notice pursuant to the prior sentence shall be legally insufficient, Seller agrees, at Purchaser’s 's sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Act (12 U.S.C. § Section 2601, et et. seq.), Seller and Purchaser will jointly coordinate any appropriate required Customer notices.

Notices to Obligors on Loans. (a) Purchaser shall, following the Final Approval Date, but no later than 15 fifteen (15) days prior to the Closing Date, prepare and transmit, at Purchaser’s sole cost and expense, to each obligor on of each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller Seller, to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s name as payee on any checks or other instruments used to make such payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s notice pursuant to the prior sentence shall be legally insufficient, Seller agrees, at Purchaser’s sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller Seller, to Purchaser Purchaser, involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Act (12 U.S.C. § 2601, 2601 et seq.), Seller and Purchaser will jointly coordinate any appropriate required Customer Notices; however, Purchaser shall be responsible for the delivery and all costs related to the production and delivery of such notices.

Notices to Obligors on Loans. (a) Purchaser shallshall no earlier than September 6, following the Final Approval Date, but no 2005 nor later than 15 fifteen (15) days prior to the Closing Date, Date prepare and transmit, at Purchaser’s 's sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s 's name as payee on any checks or other instruments used to make such as payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s notice pursuant to the prior sentence shall be legally insufficient, Seller agrees, at Purchaser’s sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Procedure Act (12 U.S.C. § 2601, Section 2601 et seq.), Seller and Purchaser will jointly coordinate and share equally the cost and expense of any appropriate required Customer customer notices, provided that no such notices shall be sent prior to September 6, 2005.

Notices to Obligors on Loans. (a) Purchaser shallshall no earlier than September 6, following the Final Approval Date, but no 2005 nor later than 15 fifteen (15) days prior to the Closing Date, Date prepare and transmit, at Purchaser’s sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s name as payee on any checks or other instruments used to make such as payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s notice pursuant to the prior sentence shall be legally insufficient, Seller agrees, at Purchaser’s sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Procedure Act (12 U.S.C. § 2601, Section 2601 et seq.), Seller and Purchaser will jointly coordinate and share equally the cost and expense of any appropriate required Customer customer notices, provided that no such notices shall be sent prior to September 6, 2005.

Notices to Obligors on Loans. (a) Purchaser shall, following the Final Approval Date, but no later than 15 fifteen (15) days prior to the Closing Date, prepare and transmit, at Purchaser’s 's sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller Sellers to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s 's name as payee on any checks or other instruments used to make such payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s 's notice pursuant to the prior sentence shall be legally insufficient, Seller agreesSellers agree, at Purchaser’s 's sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller Sellers to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Act (12 U.S.C. § 2601, et seqss.2601 et. Seq.), Seller Sellers and Purchaser will jointly coordinate any appropriate required Customer notices.

Notices to Obligors on Loans. (a) Purchaser shall, following the Final Approval Date, but no later than 15 fifteen (15) days prior to the Closing Date, prepare and transmit, at Purchaser’s 's sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s 's name as payee on any checks or other instruments used to make such payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s 's notice pursuant to the prior sentence shall be legally insufficient, Seller agrees, at Purchaser’s 's sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Act (12 U.S.C. § 2601, et ss.2601 et. seq.), Seller and Purchaser will jointly coordinate any appropriate required Customer notices.

Notices to Obligors on Loans. (a) Purchaser shall, following the Final Approval Date, but no later than 15 fifteen (15) days prior to the Closing Date, prepare and transmit, at Purchaser’s 's sole cost and expense, to each obligor on each Loan, a notice in a form satisfying all legal requirements and reasonably acceptable to Seller Sellers to the effect that the Loan will be transferred to Purchaser and directing that payments be made after the Closing Date to Purchaser at any address of Purchaser specified by Purchaser, with Purchaser’s 's name as payee on any checks or other instruments used to make such payments, and, with respect to all such Loans on which payment notices or coupon books have been issued, to issue new notices or coupon books reflecting the name and address of Purchaser as the person to whom and the place at which payments are to be made. To the extent that Purchaser’s 's notice pursuant to the prior sentence shall be legally insufficient, Seller agreesSellers agree, at Purchaser’s 's sole expense, to provide all Loan obligors with all required notices of the assignment and transfer of the Loans. (b) To the extent that any of the Loans transferred from Seller Sellers to Purchaser involve a transfer of servicing as defined and governed by the Real Estate Settlement Procedures Act (12 U.S.C. § 2601, Section 2601 et seq.), Seller Sellers and Purchaser will jointly coordinate any appropriate required Customer notices.