Common use of Recognition of Assignee; Recognition of Master Servicer Clause in Contracts

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the Depositor, Servicer and the Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor under the GSMC Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ ABA# [ ] For credit to: SAS CLEARING Account Number: [ ] For further credit to: _______________________ Collection Acct# [ ]

Appears in 2 contracts

Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar1)

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Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] 000000000 For credit to: SAS CLEARING Account NumberClearing Acct #: [ ] For further credit 0000000000 FFC to: _______________________ Collection GSR 2006-9F Acct# [ ]50955200 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 5 hereto or another mutually agreed-upon format, (b) default loan data in the mutually agreed upon format set forth in Exhibit 6 hereto and (c) information regarding the realized losses and gains in the mutually agreed upon format set forth in Exhibit 3 and Exhibit 4 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-9f)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the TrusteeAssignee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the TrusteeAssignee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] 000000000 For credit to: SAS CLEARING Account NumberClearing Acct #: [ ] For further credit 0000000000 FFC to: _______________________ Collection GSR 2007-AR2 Acct# [ ]53151000 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 5 hereto or another mutually agreed-upon format and content, (b) default loan data in the mutually agreed upon format and content set forth in Exhibit 6 hereto, or another mutually agreed-upon format and content, and (c) information regarding the realized losses and gains in the mutually agreed upon format and content set forth in Exhibit 3 and Exhibit 4 hereto, or another mutually agreed-upon format and content, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar2)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the December 2005 Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the December 2005 Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the December 2005 Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing AgreementAgreements, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the December 2005 Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the December 2005 Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the December 2005 Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the December 2005 Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the December 2005 Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the December 2005 Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] For credit to000000000 FOR CREDIT TO: SAS CLEARING Account Number: [ ] For further credit to0000000000 Reference: _______________________ Collection AcctGSR 2006-AR2 Acct # [ ]50914100 Notwithstanding anything to the contrary in the Servicing Agreements, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format set forth in Exhibit 5 hereto, (b) default loan data in the mutually agreed upon format set forth in Exhibit 6 hereto and (c) information regarding the realized losses and gains in the mutually agreed upon format set forth in Exhibit 3 and Exhibit 4 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR 2006-Ar2)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the Depositor, Servicer and the Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor under the GSMC Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ ABA# [ ] For credit to: SAS CLEARING Account Number: [ ] For further credit to: _______________________ Collection Acct# [ ]

Appears in 1 contract

Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar1)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] For credit to000000000 FOR CREDIT TO: SAS CLEARING Account Number: [ ] For further credit to0000000000 Reference: _______________________ Collection AcctGSR 2006-5F Acct # [ ]50891500 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 5 hereto or another mutually agreed-upon format, (b) default loan data in the mutually agreed upon format set forth in Exhibit 6 hereto and (c) information regarding the realized losses and gains in the mutually agreed upon format set forth in Exhibit 3 and Exhibit 4 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR 2006-5f)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the TrusteeAssignee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the TrusteeAssignee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] 000000000 For credit to: SAS CLEARING Account NumberClearing Acct #: [ ] For further credit 0000000000 FFC to: _______________________ Collection GSR 2007-AR1 Acct# [ ]50981100 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 5 hereto or another mutually agreed-upon format, (b) default loan data in the mutually agreed upon format set forth in Exhibit 6 hereto, or another mutually agreed-upon format, and (c) information regarding the realized losses and gains in the mutually agreed upon format set forth in Exhibit 3 and Exhibit 4 hereto, or another mutually agreed-upon format, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar1)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the Depositor, Servicer and the Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) . The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original purchaser Owner under the Sale and Servicing Agreement, to the Depositor under the GSMC Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) . All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ ABA# [ ] For credit to: SAS CLEARING Account Number: [ ] For further credit to: _______________________ Collection Acct# [ ]:

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity 2005-12)

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Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] For credit to000000000 FOR CREDIT TO: SAS CLEARING Account Number: [ ] For further credit to0000000000 Reference: _______________________ Collection AcctGSR 2006-8F Acct # [ ]50939900 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 5 hereto or another mutually agreed-upon format, (b) default loan data in the mutually agreed upon format set forth in Exhibit 6 hereto and (c) information regarding the realized losses and gains in the mutually agreed upon format set forth in Exhibit 3 and Exhibit 4 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-8f)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the December 2005 Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the December 2005 Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the December 2005 Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing AgreementAgreements, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the December 2005 Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the December 2005 Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the December 2005 Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the December 2005 Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the December 2005 Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the December 2005 Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] For credit to000000000 FOR CREDIT TO: SAS CLEARING Account Number: [ ] For further credit to0000000000 Reference: _______________________ Collection AcctGSR 2006-1F Acct # [ ]50891500 Notwithstanding anything to the contrary in the Servicing Agreements, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the mutually agreed upon format set forth in Exhibit 5 and Exhibit 6 hereto and (c) information regarding the realized losses and gains in the mutually agreed upon format set forth in Exhibit 3 and Exhibit 4 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-1f)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, (i) the Servicer Assignor shall note the transfer of the Mortgage Loans to the Assignee in its books and records, (ii) shall recognize the Assignee as the owner of the Mortgage Loans and (iii) the Servicer shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the DepositorAssignor, the Servicer and the Assignee through the execution of this Agreement that the Sale and Servicing Agreement shall be binding upon upon, and inure to the benefit of the Servicer and of, the Assignee and their its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor Assignor under the GSMC Assignment Agreement, and further assigned by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 9 hereof, provided, however, that any reports required to be delivered under the Sale and Servicing Agreement (as modified hereby) shall be transmitted by magnetic tape, electronic mail, or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to GSMC and the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ Xxxxx Fargo Bank, N.A. ABA# [ ] 000000000 For credit to: SAS CLEARING Account NumberClearing Acct #: [ ] For further credit 0000000000 FFC to: _______________________ Collection GSR 2007-3F Acct# [ ]53145900 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 5 hereto or another mutually agreed-upon format and content, (b) default loan data in the mutually agreed upon format and content set forth in Exhibit 6 hereto and (c) information regarding the realized losses and gains in the mutually agreed upon format and content set forth in Exhibit 3 and Exhibit 4 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-3f)

Recognition of Assignee; Recognition of Master Servicer. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, the terms of which are incorporated herein by reference. It is the intention of the Depositor, Servicer and the Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original purchaser under the Sale and Servicing Agreement, to the Depositor under the GSMC Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to the Assignor and the Depositor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: _______________________ ABA# [ ] For credit to: SAS CLEARING Account Number: [ ] For further credit to: _______________________ Collection Acct# [ ]

Appears in 1 contract

Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2)

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