Notifications to Parties Clause Samples
The Notifications to Parties clause defines the procedures and requirements for formally communicating important information between the parties involved in an agreement. It typically specifies acceptable methods of delivery, such as email, postal mail, or courier, and may outline the addresses to be used and when a notice is considered received. This clause ensures that all parties are properly informed of key developments, deadlines, or changes, thereby reducing the risk of misunderstandings and disputes related to communication.
Notifications to Parties. The Servicer shall promptly notify the Trustee, the Securities Administrator, the Master Servicer and the Depositor (i) of any legal proceedings pending against the Servicer of the type described in Item 1117 (§ 229.1117) of Regulation AB and (ii) if the Servicer shall become (but only to the extent not previously disclosed to the Securities Administrator, the Master Servicer and the Depositor) at any time an affiliate of any of the parties listed on Exhibit T to this Agreement. If so requested by the Trustee, the Securities Administrator, the Master Servicer or the Depositor on any date following the date on which information was first provided to the Trustee, the Master Servicer, the Securities Administrator and the Depositor, pursuant to the preceding sentence, the Servicer shall within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in item number (7) of Schedule II hereto, or, the Servicer shall, if such a representation and warranty is not accurate as of the date of such request, provide reasonable adequate disclosure of the pertinent facts, in writing, to the requesting party. The Servicer shall provide to the Securities Administrator, the Trustee, the Master Servicer and the Depositor prompt notice of the occurrence of any of the following: (i) any event of default under the terms of this Agreement; (ii) any merger, consolidation or sale of substantially all of the assets of the Servicer; (iii) the Servicer’s engagement of any Subservicer or Subcontractor; (iv) any material litigation involving the Servicer; and (v) any affiliation or other significant relationship between the Servicer and other transaction parties, other than the Servicer’s affiliation with the Mortgage Loan Seller and First Franklin Financial Corporation, which affiliations have already been identified by the Servicer.
Notifications to Parties. In addition to communications provided for in articles 7, 8, 9 and 10 and the reservation provided for in article 14 of this Agreement, the Secretary-General of the United Nations shall notify the Parties and the other States referred to in article 5 of the following:
(a) Definitive signatures, ratifications, acceptances, approvals and accessions under article 5;
(b) The dates of entry into force of this Agreement in accordance with article 6;
(c) The date of entry into force of amendments to this Agreement in accordance with article 8, paragraph 5, article 9, paragraph 6 and article 10, paragraph 6;
(d) Withdrawal under article 12;
(e) The termination of this Agreement under article 13.
Notifications to Parties. The Servicer shall promptly notify the Master Servicer and the Depositor (i) of any legal proceedings pending against the Servicer of the type described in Item 1117 (§ 229.1117) of Regulation AB and (ii) if the Servicer shall become (but only to the extent not previously disclosed to the Master Servicer and the Depositor) at any time an affiliate of any of the parties listed on Exhibit T to this Agreement. If so requested by the Master Servicer or the Depositor on any date following the date on which information was first provided to the Master Servicer and the Depositor, pursuant to the preceding sentence, the Servicer shall within five Business Days following such request, confirm in writing that except as disclosed in writing to the Master Servicer, the Depositor, the Trustee, and the Securities Administrator, prior to the Closing Date: (i) ▇▇▇▇▇ Fargo is not aware and has not received notice that any default, early amortization or other performance triggering event has occurred as to any other securitization due to any act or failure to act of ▇▇▇▇▇ Fargo; (ii) ▇▇▇▇▇ Fargo has not been terminated as servicer in a residential mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger; (iii) no material noncompliance with the relevant servicing criteria with respect to other securitizations of residential mortgage loans involving ▇▇▇▇▇ Fargo as servicer has been disclosed or reported by ▇▇▇▇▇ Fargo; (iv) no material changes to ▇▇▇▇▇ Fargo’s policies or procedures with respect to the servicing function it will perform under this Agreement for mortgage loans of a type similar to the Mortgage Loans have occurred during the three-year period immediately preceding the Closing Date; (v) there are no aspects of ▇▇▇▇▇ Fargo’s financial condition that could have a material adverse effect on the performance by ▇▇▇▇▇ Fargo’s financial condition that could have a material adverse effect on the performance by ▇▇▇▇▇ Fargo of its servicing obligations under this Agreement and (vi) there are no affiliations, relationships or transactions relating to ▇▇▇▇▇ Fargo or any Subservicer with any party listed on Exhibit T hereto, other than its affiliation with the Securities Administrator, the Master Servicer, the Custodian and the Originator, or, the Servicer shall, if such a representation and warranty is not accurate as of the date of such request, provide reasonable adequate disclosure of the pertinent fact...
Notifications to Parties. The Servicer shall promptly notify the Master Servicer and the Depositor (i) of any legal proceedings pending against the Servicer of the type described in Item 1117 (§ 229.1117) of Regulation AB and (ii) if the Servicer shall become (but only to the extent not previously disclosed to the Master Servicer and the Depositor) at any time an affiliate of any of the parties listed on Exhibit T to this Agreement. If so requested by the Master Servicer or the Depositor on any date following the date on which information was first provided to the Master Servicer and the Depositor, pursuant to the preceding sentence, the Servicer shall within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in item number (7) of Schedule II hereto, or, the Servicer shall, if such a representation and warranty is not accurate as of the date of such request, provide reasonable adequate disclosure of the pertinent facts, in writing, to the requesting party. The Servicer shall provide to the Master Servicer and the Depositor prompt notice of the occurrence of any of the following: (i) any event of default under the terms of this Agreement; (ii) any merger, consolidation or sale of substantially all of the assets of the Servicer; (iii) the Servicer’s engagement of any Subservicer or Subcontractor; (iv) any material litigation involving the Servicer; and (v) any affiliation or other significant relationship between the Servicer and other transaction parties.