Common use of Procedures for Deconversion of Loans Clause in Contracts

Procedures for Deconversion of Loans. Within thirty (30) days after delivery of a proper notice of termination of this Servicing Agreement pursuant to this Article Seven, Section 8.2, Section 9.2 or Section 10.5, a schedule and procedure for the orderly deconversion of Loans will be agreed to by the Servicer and the Holder. The parties will cooperate with each other to resolve problems that arise during or as a result of the deconversion process. Except for deconversions of Loans pursuant to Section 9.2, below, the Holder shall pay the deconversion fees specified in Attachment 1 (and such deconversion fees will be payable, without limitation, upon any deconversion of the Loans that occurs upon the expiration of the Term of this Servicing Agreement). In addition, the Holder shall pay the removal fees specified in Attachment 1 with respect to other removals of Loans, as set forth in Attachment 1 (and described in Note 2 of Attachment 1).

Procedures for Deconversion of Loans. Within thirty (30) days after delivery of a proper notice of termination or non-renewal of this Servicing Agreement pursuant to this Article Seven, Section 8.2, Section 9.2 or Section 10.5, a schedule and procedure for the orderly deconversion of Loans will be agreed to by the Servicer and the HolderBank (and by FDR, to the extent applicable). The parties will cooperate with each other to resolve problems that arise during or as a result of the deconversion process. Except for deconversions of Loans pursuant to Section 9.2, belowbelow or due to sale of the Loan(s) to the Servicer, the Holder Bank shall pay the deconversion fees specified in Attachment 1 (and such deconversion fees will be payable, without limitation, upon any deconversion of the Loans that occurs upon the expiration of the Term term of this Servicing Agreement). In addition, the Holder Bank shall pay the removal fees specified in Attachment 1 with respect to other removals of Loans, as set forth in Attachment 1 (and described in Note 2 4 of Attachment 1).