Common use of OBLIGATIONS TO FORWARD PAYMENTS AND COMMUNICATIONS Clause in Contracts

OBLIGATIONS TO FORWARD PAYMENTS AND COMMUNICATIONS. A. The Lender shall promptly remit, or cause to be remitted, to the Trustee as the Servicer may direct, all funds received by the Lender after the Loan Purchase Date which constitute payments of principal, or interest or Special Allowance Payments accrued after the Loan Purchase Date with respect to any Financed Eligible Loan. B. The Lender shall immediately transmit to the Servicer any communication received by the Lender after the Loan Purchase Date with respect to a Financed Eligible Loan or the borrower under such a Financed Eligible Loan. Such communication shall include, but not be limited to, letters, notices of death or disability, adjudications of bankruptcy and similar documents, and forms requesting deferment of repayment or loan cancellations.

OBLIGATIONS TO FORWARD PAYMENTS AND COMMUNICATIONS. A. The Lender shall promptly remit, or cause to be remitted, to the Trustee as the Servicer may direct, all funds received by the Lender after the Loan Purchase Date which constitute payments of principal, or interest or Special Allowance Payments accrued after the Loan Purchase Date Date, with respect to any Financed Eligible Loan. B. The Lender shall immediately transmit to the Servicer any communication received by the Lender after the Loan Purchase Date with respect to a Financed Eligible Loan or the borrower under such a Financed Eligible Loan. Such communication shall include, but not be limited to, letters, notices of death or disability, adjudications of bankruptcy and similar documents, and forms requesting deferment of repayment or loan cancellations.