Purchaser's Election to Commence Foreclosure Proceedings. In connection with any Mortgage Loan identified in a report under Section 2.01(a)(i)(B), the Purchaser may elect, for reasonable cause as determined by the Purchaser, to instruct the Company to proceed with the Commencement of Foreclosure as soon as practicable. Such election must be evidenced by written notice received by the Company by 5:00 p.m., New York City time, on the third Business Day following the delivery of such report under Section 2.01(a)(i).
Appears in 15 contracts
Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp), Pooling and Servicing Agreement (Chase Mortgage Finance Corp), Pooling and Servicing Agreement (Chase Mortgage Finance Corp)
Purchaser's Election to Commence Foreclosure Proceedings. In connection with any Mortgage Loan identified in a report under Section 2.01(a)(i)(B), the Purchaser may elect, for reasonable cause as determined by the Purchaser, elect to instruct the Company to cause, to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement, the related Servicer to proceed with the Commencement of Foreclosure as soon as practicable. Such election must be evidenced by written notice received by the Company by 5:00 p.m., New York City time, on the third Business Day following the delivery of such report under Section 2.01(a)(i).
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities Series 2004-W Trust), Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Pass Thro Cert Ser 1998-14 Tr), Pooling and Servicing Agreement (Wells Fargo Mortgage Back Sec Mort Pass THR Cert Ser 2000 12)
Purchaser's Election to Commence Foreclosure Proceedings. In connection with any Mortgage Loan identified in a report under Section 2.01(a)(i)(B), the Purchaser may elect, for reasonable cause as determined by the Purchaser, to instruct the Company Depositor to proceed with the Commencement of Foreclosure as soon as practicable. Such election must be evidenced by written notice received by the Company Depositor by 5:00 p.m., New York City time, on the third Business Day following the delivery of such report under Section 2.01(a)(i).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp)
Purchaser's Election to Commence Foreclosure Proceedings. In connection with any Mortgage Loan identified in a report under Section 2.01(a)(i)(B), the Purchaser may elect, for reasonable cause as determined by the Purchaser, elect to instruct the Company to proceed with the Commencement of Foreclosure as soon as practicable. Such election must be evidenced by written notice received by the Company by 5:00 p.m., New York City time, on the third Business Day following the delivery of such report under Section 2.01(a)(i).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)
