Pool Activity Records Sample Clauses
The "Pool Activity Records" clause establishes requirements for maintaining detailed records of all activities related to a specific pool, such as financial transactions, usage logs, or maintenance events. Typically, this clause outlines what information must be recorded, who is responsible for keeping the records, and how long the records should be retained. By mandating thorough documentation, the clause ensures transparency and accountability, helping to resolve disputes and facilitate audits regarding the pool's operation and management.
Pool Activity Records. As to each Trust, the Master Servicer or, if required by the Servicing Contract, the Primary Servicer will keep the records necessary to account for activity on the related Pool, including records of the Pool Proceeds, distributions to Holders, assumptions or transfers, Prepayments (including purchases from a Trust) and substitutions of Mortgage Loans. In the case of a discrepancy, the records of the Master Servicer will control. Such records will be maintained until such time as the related Trust Documents are no longer in effect. In the case of a discrepancy, the Master Servicer will assess the particular facts and circumstances to determine, in a manner consistent with Accepted Servicing Practices, whether the records of the Primary Servicer or the Master Servicer should control.
Pool Activity Records. As to each Trust, the Master Servicer or, if required by the Servicing Contract, the Direct Servicer will keep the records necessary to account for activity on the related Pool, including records of the Pool Proceeds, distributions to Holders, assumptions or transfers, Prepayments (including purchases from a Trust) and substitutions of Mortgage Loans. In the case of a discrepancy, the records of the Master Servicer will control.
Pool Activity Records. As to each Trust, the Master Servicer or, if required by the Servicing Contract, the Direct Servicer will keep the records necessary to account for activity on the related Pool, including records of the Pool Proceeds, distributions to Holders, assumptions or transfers and Prepayments (including purchases from a Trust). Such records will be maintained until such time as the related Trust Documents are no longer in effect. In the case of a discrepancy, the Master Servicer will assess the particular facts and circumstances to determine, in a manner consistent with Accepted Servicing Practices, whether the records of the Direct Servicer or the Master Servicer should control.