REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. Section 9.01 Removal of Mortgage Loans from Inclusion Under this Agreement The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers, Agency Sales or Securitization Transactions, retaining the Company as the servicer thereof or as subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer, Agency Sales or Securitization Transaction in accordance with this Section 9.01, provided that no such Whole Loan Transfer, Agency Sale or Securitization Transaction shall create a greater obligation or cost on the part of the Company than otherwise set forth in this Agreement. In connection therewith the Company shall:
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. Section 9.01
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. 62 ARTICLE X ................................................................. 74 DEFAULT ................................................................... 74 ARTICLE XI ................................................................ 76 TERMINATION ............................................................... 76 ARTICLE XII ............................................................... 76
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. ARTICLE X ......................................................................
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. 64 Section 9.01. Removal of Mortgage Loans from Inclusion Under this Agreement....................64 ARTICLE X DEFAULT 66
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. Section 9.01 Removal of Mortgage Loans from Inclusion Under this Agreement The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, shall effect up to four Whole Loan Transfers or Pass-Through Transfers, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." On the Reconstitution Date, the Mortgage Loans transferred shall cease to be covered by this Agreement; provided, however, that, in the event that any Mortgage Loan transferred pursuant to this Section 9 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer or Pass-Through Transfer in accordance with this Section 9. In connection therewith the Company shall:
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. Section 9.01 Removal of Mortgage Loans from Inclusion Under this Agreement ARTICLE X DEFAULT 47 Section 10.01 Events of Default 47 Section 10.02 Waiver of Defaults 48 ARTICLE XX XXXXXXXXXXX 00 Section 11.01 Termination 49 Section 11.02 Termination Without Cause 49 ARTICLE XII MISCELLANEOUS PROVISIONS 49 Section 12.01 Successor to Company 49 Section 12.02 Amendment 50 Section 12.03 Governing Law 50 Section 12.04 Arbitration 51 Section 12.05 Duration of Agreement 51 Section 12.06 Notices 51 Section 12.07 Severability of Provisions 52 Section 12.08 Relationship of Parties 52 Section 12.09 Execution; Successors and Assigns 52 Section 12.10 Recordation of Assignments of Mortgage 52 Section 12.11 Assignment by Purchaser 53 Section 12.12 Solicitation of Mortgagor 53 Section 12.13 Further Agreements Section 12.14 Confidential Information EXHIBITS Exhibit A Custodial Agreement Exhibit B Data File Exhibit C Contents of Each Mortgage Loan File Exhibit D Underwriting Guidelines Exhibit E Form of Assignment and Conveyance Agreement Exhibit F Form of Xxxxxxxx-Xxxxx Certificate Exhibit G Form of Assignment, Assumption and Recognition Agreement This is a Master Seller’s Warranties and Servicing Agreement for fixed rate residential first mortgage loans, dated and effective as of January 1, 2003, and is executed between Banc of America Mortgage Capital Corporation, as purchaser (the “Purchaser”), and Xxxxx Fargo Home Mortgage, Inc., as seller and servicer (the “Company”).
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. Section 9.01 Removal of Mortgage Loans from Inclusion Under this Agreement The Purchaser and the Company agree that with respect to some or all of the Mortgage Loans, the Purchaser, at its sole option, shall effect up to four Whole Loan Transfers or Pass- Through Transfers, retaining the Company as the servicer thereof or subservicer if a master servicer is employed, or as applicable the "seller/servicer." In the event that any Mortgage Loan transferred pursuant to this Section 9.01 is rejected by the transferee, the Company shall continue to service such rejected Mortgage Loan on behalf of the Purchaser in accordance with the terms and provisions of this Agreement. The Company shall cooperate with the Purchaser in connection with each Whole Loan Transfer or Pass-Through Transfer in accordance with this Section 9.01. In connection therewith the Company shall:
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT. Servicer acknowledges and the Owner agrees that with respect to some or all of the Mortgage Loans, the Owner may effect one or more Whole Loan Transfers. Servicer shall reasonably cooperate with the Owner in connection with any Whole Loan Transfer contemplated by the Owner pursuant to this Section, provided, however, that under no circumstances and in no event shall such cooperation include any act of Servicer or any event affecting Servicer which would materially increase Servicer’s liabilities or obligations beyond those liabilities and obligations contained in this Agreement (excluding the obligations and liabilities contained in this Section). Owner will provide Servicer with at least 10 days notice prior to any sale of any Mortgage Loan and at least 30 days notice prior to the expected transfer date related to the sale of any Mortgage Loan. Servicer shall have no obligation to enter into and/or deliver any agreements or agreement-related documents in connection with such Whole Loan Transfer other than as required pursuant to its obligation to service the loans hereunder in accordance with Accepted Servicing Practices. Notwithstanding anything contained herein to the contrary, Servicer shall have no obligation to make any representations or warranties in connection with any such Whole Loan Transfer. Servicer’s inability to cooperate with Owner based on late delivery of such notice shall result in no liability to Servicer. Other than recognizing the new owner of the Mortgage Loans and remitting amounts previously due Owner to such new owner, the Parties agree that the Servicer will continue to service the Mortgage Loans on behalf of the new owner in accordance with this Agreement and Servicer shall be under no obligation to do otherwise. The Owner hereby agrees to reimburse Servicer for any and all out of pocket expenses incurred by Servicer in connection with such a Whole Loan Transfer. For any Whole Loan Transfer for which the servicing is to be performed by a party other than Servicer, Owner shall pay Servicer the de-boarding fee specified in Exhibit E, exclusive of out of pocket expenses that be may incurred. In connection with any Whole Loan Transfer, Servicer shall not be liable for any information requested by Owner for inclusion in any disclosure document. Servicer shall have no obligation for any expense incurred by any other Party with respect to any Whole Loan Transfer (including, without limitation, expenses associated with the Owner’s assig...
REMOVAL OF MORTGAGE LOANS FROM AGREEMENT
