Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports: (i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance. (ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure. (b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission. (c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 36 contracts
Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mor Pass THR Cert Ser 2001-4), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mort Pass THR Cert Ser 2003-2)
Reports and Notices. (a) 1. In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Company, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(ia) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(iib) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) 2. If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c) 3. In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse confidential.
(a) With respect to all Mortgage Loans which are serviced at any time by the Company through a Subservicer, the Company shall be entitled to rely for all purposes hereunder, including for purposes of fulfilling its reporting obligations under this Section 2.01 on the accuracy and completeness of any information provided to it by the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 27 contracts
Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-A2), Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S5), Pooling and Servicing Agreement (ChaseFlex Trust Series 2007-M1)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) : Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a reportreport identifying all loans delinquent 30 days or more (including all loans in foreclosure, using bankruptcy or "real estate owned" status) (each, a "Delinquency Report"). The Delinquency Report shall use the same methodology and calculations employed in its the Company's standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (Ai) thirty daysdays delinquent, (Bii) sixty daysdays delinquent, (Ciii) ninety days or more delinquent or delinquent, (Div) in foreclosure, (v) in bankruptcy or (vi) real estate owned, and indicating for each such Mortgage Loan the loan number number, the property address and the outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan (i) identified in a report under subsection Section 2.01 (a) (i) (Bii), (a) (i) (Ciii), (a) (iiv), (a) (D), v) or (a) (ii) which has been given to the Purchaservi); provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser Company (for prompt transmission to the Purchaser) such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential personnel; provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 20 contracts
Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar12 Trust.), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-18 Trust), Pooling and Servicing Agreement (Wells Fargo Alternative Loan 2007-Pa4 Trust)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, as Servicer, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate Fund the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopierfacsimile transmission) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer the Company to an attorney requesting the institution of foreclosureforeclosure or a copy of a request to foreclose received by the Company from the related primary servicer which has been approved by the Company.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail facsimile transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (aa)(i) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; , provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; , provided, that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesconfidential.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc), Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc), Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Company, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse confidential.
(d) With respect to all Mortgage Loans which are serviced at any time by the Company through a Subservicer, the Company shall be entitled to rely for all purposes hereunder, including for purposes of fulfilling its reporting obligations under this Section 2.01 on the accuracy and completeness of any information provided to it by the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 10 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)
Reports and Notices. (a) 1. In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Company, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(ia) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(iib) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) 2. If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c) 3. In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesconfidential.
Appears in 6 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)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage LoansLoans serviced by it, the Company as Master each Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, each Servicer shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans serviced by such Servicer that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company Servicer of such Mortgage Loan shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company each Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan serviced by such Servicer identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company each Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan serviced by such Servicer that is at least ninety days delinquent and each Mortgage Loan serviced by such Servicer which has become real estate owned, through the final liquidation thereof; provided, that the related such Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential confidential; provided, however, that the Purchaser will reimburse the Company and the related each Servicer for any out of pocket expenses.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 1999-10), Pooling and Servicing Agreement (Bank of America Mortgage Securities Inc), Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 1999-6)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) : Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a reportreport identifying all loans delinquent 30 days or more (including all loans in foreclosure, using bankruptcy or "real estate owned" status) (each, a "Delinquency Report"). The Delinquency Report shall use the same methodology and calculations employed in its the Company's standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (Ai) thirty daysdays delinquent, (Bii) sixty daysdays delinquent, (Ciii) ninety days or more delinquent or delinquent, (Div) in foreclosure, (v) in bankruptcy or (vi) real estate owned, and indicating for each such Mortgage Loan the loan number number, the property address and the outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan (i) identified in a report under subsection Section 2.01 (a) (i) (Bii), (a) (i) (Ciii), (a) (iiv), (a) (D), v) or (a) (ii) which has been given to the Purchaservi); provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-5 Trust), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-5 Trust), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-2 Trust)
Reports and Notices. Borrower covenants and agrees that from and after the Closing Date and until the Commitment Termination Date, it shall deliver to Lender:
(a) In connection with Within 45 days after the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach fiscal month, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date a copy of the unaudited consolidated balance sheets of Borrower as of the end of such month and the related statements of income and cash flows for that portion of the Fiscal Year ending as of the end of such month, and (ii) a copy of the unaudited consolidated statements of income of Borrower for such month, all prepared in accordance with GAAP (subject to normal year-end adjustments), accompanied by the certification of the chief executive officer or included chief financial officer of Borrower that all such financial statements are complete and correct and present fairly in or accordance with the monthly statements GAAP (subject to Certificateholders pursuant to the Pooling and Servicing Agreementnormal year-end adjustments), the Companyfinancial position, shall provide to the Purchaser a report, using results of operations and the same methodology statements of cash flows of Borrower as at the end of such month and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureperiod then ended, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement that there was no Default or Event of Foreclosure Default in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company existence as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosuretime.
(b) If requested by the PurchaserAs soon as practicable, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority but in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and event within two (2) Business Days after Borrower becomes aware of the related Servicer existence of any Default or Event of Default, or any development or other information which would have a Material Adverse Effect, telephonic or telegraphic notice specifying the nature of such Default or Event of Default or development or information, including the anticipated effect thereof, which notice shall respond be promptly confirmed in writing within five Business Days orally or in writing by facsimile transmission(5) days.
(c) In addition If requested by Lender, copies of all federal, state, local and foreign tax returns and reports in respect of income, franchise or other taxes on or measured by income (excluding sales, use or like taxes) filed by Borrower or any of its Subsidiaries.
(d) Such other information respecting Borrower's or its Subsidiaries' business (including with respect to the foregoingorders received and inventory purchased), the Company shall cause the Servicer (financial condition or prospects as Lender may, from time to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may time, reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesrequest.
Appears in 3 contracts
Samples: Loan Agreement (Intek Diversified Corp), Loan Agreement (Securicor International LTD), Loan Agreement (Intek Diversified Corp)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing this Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser Directing Holder the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included Upon reasonable request of the Directing Holder, with respect to any Mortgage Loan listed as at least 30 days delinquent in or with the monthly statements statement provided to Certificateholders pursuant to the Pooling and Servicing Section 4.02 of this Agreement), the Company, Master Servicer shall provide to the Purchaser a report, using the same methodology and calculations such information as it may have in its standard servicing reportspossession or may reasonably obtain, indicating for the Trust Estate reasonable out of pocket expenses of the number Master Servicer in providing such information to be paid promptly by the Directing Holder, upon receipt of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan an invoice from the loan number and outstanding principal balanceMaster Servicer.
(ii) Prior to the Commencement of Foreclosure in connection with any Subject Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to shall provide the Purchaser Directing Holder with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the such Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the PurchaserDirecting Holder, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to shall make its servicing personnel available (during their its normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser Directing Holder in connection with any Subject Mortgage Loan identified in a report or notice under subsection (aa)(i) (i) (B), (a) (i) (C), (a) (i) (D), or (aa)(ii) (ii) above which has been given to the PurchaserDirecting Holder; provided, that (1) the related Master Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Master Servicer shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c) In addition to The Remittance Reports prepared by the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) pursuant to provide to the Purchaser such information as the Purchaser may reasonably request providedSection 4.03, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out statements to Certificateholders prepared by the Trustee pursuant to Section 4.02, shall each include the following additional information: (i) the number and aggregate unpaid principal balance of pocket expensesMortgage Loans as to which an Election to Delay Foreclosure has been made and (ii) the number and aggregate unpaid principal balance of Mortgage Loans as to which an Election to Foreclose has been made.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud2), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud-1), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mort Pa THR Cert Ser 1998-Wfc1)
Reports and Notices. From the Closing Date until the Termination Date, Borrower shall deliver to Lender:
(a) In connection with within thirty (30) days following the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach Fiscal Month, the Company as Master Servicer Financial Statements for such Fiscal Month, which shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements comparisons to Certificateholders pursuant to the Pooling budget and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating actual results for the Trust Estate the number of Mortgage Loans that are (A) thirty days, the current month and (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, year to date and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior comparisons of the current month to the Commencement prior month and (iii) comparisons of Foreclosure in connection with any Mortgage Loan, the Company shall cause (current year to date to the extent that same period for the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer prior year to provide the Purchaser with date, and accompanied by a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser certification in the form of a copy Exhibit F by the Chief Executive Officer or Chief Financial Officer of a referral letter from Borrower that such Servicer to an attorney requesting Financial Statements are complete and correct in all material respects, that there was no Default (or specifying those Defaults of which he or she was aware), and showing in reasonable detail the institution of foreclosure.calculations used in determining compliance with the financial covenants hereunder;
(b) If requested by within ninety (90) days following the Purchaserclose of each Fiscal Year, the Company Financial Statements for such Fiscal Year certified without qualification by an independent certified accounting firm reasonably acceptable to Lender, which shall cause the Servicer (provide comparisons to the extent prior Fiscal Year, and shall be accompanied by (i) a statement in reasonable detail showing the calculations used in determining compliance with the financial covenants hereunder, (ii) a report from Borrower’s accountants to the effect that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B)their audit examination nothing has come to their attention to cause them to believe that an Event of Default has occurred or specifying those Events of Default of which they are aware, (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2iii) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.any management letter that may be issued;
(c) In addition not less than thirty (30) days subsequent to the foregoingbeginning of each Fiscal Year, the Company shall cause Projections, which will be prepared by Borrower in good faith, based on assumptions that are reasonable at the Servicer time such Projections are prepared;
(to d) after the extent that last day of each calendar month following the Company as Master Servicer Closing Date, if Borrower is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be not required to provide information make a mandatory prepayment of the Revolving Credit Loans pursuant to Section 1.6, then an authorized officer of the Borrower shall deliver a confirmation to Lender stating that is readily accessible to its servicing personnel Borrower does not have on deposit cash and is non-confidential provided, however, that Cash Equivalents in excess of the Purchaser will reimburse Cash Amount as of the Company and last day of the related Servicer for any out of pocket expenses.immediately preceding calendar month; and
Appears in 3 contracts
Samples: Loan and Security Agreement (FVA Ventures, Inc.), Loan and Security Agreement (FVA Ventures, Inc.), Loan and Security Agreement (FVA Ventures, Inc.)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Depositor, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(ib) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Depositor shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(iic) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company Depositor shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(bd) If requested by the Purchaser, the Company Depositor shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Depositor shall only be required to provide information that is readily accessible to its servicing personnel and is non- confidential and (2) the Depositor shall not be required to provide any written information under this subsection.
(e) In addition to the foregoing, the Depositor shall provide to the Purchaser such information as the Purchaser may reasonably request concerning each Loan that is at least sixty days delinquent and each Loan which has become real estate owned, through the final liquidation thereof; provided that the Depositor shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmissionconfidential.
(cf) In addition With respect to all Loans which are serviced at any time by the foregoingDepositor through a Subservicer, the Company Depositor shall cause be entitled to rely for all purposes hereunder, including for purposes of fulfilling its reporting obligations under this Section 2.01 on the Servicer (accuracy and completeness of any information provided to it by the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp), Pooling and Servicing Agreement (Abn Amro Mortgage Corp), Pooling and Servicing Agreement (Abn Amro Mortgage Corp)
Reports and Notices. Borrower represents, warrants and agrees that, from and after the Closing Date until the Termination Date, Borrower shall deliver to Agent, or cause to be delivered to Agent (with a copy of the same delivered electronically to any third party engaged by Agent to analyze or audit the same):
(a) In connection with as soon as available and in any event no later than thirty (30) days following the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reportseach Fiscal Month:
(1) a Borrowing Base Certificate including a list of Eligible Notes Receivable, a detailed calculation of the Borrowing Base, and such supporting detail and documentation as Agent may request;
(2) a summary and detailed aging of Notes Receivable of Borrower including separate aging reports of all Notes Receivable and all Eligible Notes Receivable included in the Borrowing Base, together with a reconciliation to the detailed calculation of the Borrowing Base most recently provided to Agent;
(3) the Financial Statements of Borrower (on a non-consolidated basis) for such month, which Financial Statements shall provide comparisons to actual results for the corresponding period during the prior Fiscal Year, both on a monthly and year-to-date basis;
(4) a Compliance Certificate from the Chief Executive Officer or Chief Financial Officer of Borrower certifying, among other things, that (i) Within five Business Days after each Distribution Date such Financial Statements are complete and correct and are prepared in accordance with GAAP (subject to the exclusion of footnotes required by GAAP and changes resulting from normal year-end audit adjustments), (ii) Borrower is in compliance with the financial covenants tested on a quarterly or “at all times” basis under this Agreement and showing in reasonable detail the calculations used in determining compliance with such financial covenants, and (iii) no Default or Event of Default has occurred and is continuing (or included specifying those Defaults or Events of Default that have occurred and are continuing of which he or she was aware);
(5) Collateral reports specifying (i) the current unpaid principal balance of each Pledged Note Receivable, (ii) current committed amount with respect to each Pledged Note Receivable, (iii) current payment status of each Pledged Note Receivable, and (iv) brief description of Account Debtor Collateral for each Pledged Note Receivable, with additional detail showing additions to and deletions from the Collateral; and
(6) Borrower’s monthly credit watch list prepared in or the ordinary course of business and consistent with past practice; and
(b) within forty five (45) days following the end of each Fiscal Quarter of Borrower (other than the end of the Fiscal Quarter that coincides with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreementend of Borrower’s Fiscal Year), the CompanyFinancial Statements of Borrower for such Fiscal Quarter, which Financial Statements shall be presented both on a quarterly and year-to-date basis and shall comply with all applicable SEC reporting requirements;
(c) within ninety (90) days following the end of each Fiscal Year, the Financial Statements of Borrower for such Fiscal Year certified without qualification by an independent certified accounting firm acceptable to Agent, which Financial Statements shall provide comparisons to actual results for the Purchaser prior Fiscal Year, on an annual basis, and shall comply with all applicable SEC reporting requirements, accompanied by (1) a reportCompliance Certificate, using and (2) any management letter that may be issued;
(d) promptly upon the same methodology filing or sending thereof, copies of all regular, periodic or special reports of Borrower or any of its Subsidiaries filed with the SEC; copies of all registration statements of Borrower or any of its Subsidiaries filed with the SEC (other than on Form S-8); and calculations in its standard servicing copies of all proxy statements or other communications made Stockholders generally;
(e) promptly upon receipt thereof, copies of all final reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty daysif any, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior submitted to the Commencement of Foreclosure Borrower by its independent certified public accountants in connection with any Mortgage Loanannual or interim audit of Borrower;
(f) copies of each of Borrower’s quarterly reports to its Stockholders, promptly upon transmission of each such report to any Stockholder;
(g) promptly upon receipt or knowledge thereof, notice of all claims, offsets or disputes asserted by Account Debtors with respect to any of the Company shall cause Pledged Notes Receivable; and
(h) within forty five (45) days following the end of each Fiscal Quarter of Borrower, all internal and external valuation reports relating to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice Eligible Notes Receivables (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested including all valuation reports delivered by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser Approved Third-Party Appraiser in connection with the quarterly appraisals of Unquoted Notes Receivable as required pursuant to Section 5.4 and the underwriting memoranda for all Eligible Notes Receivables included in such valuation reports, along with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given other information relating to the Purchaser; providedEligible Notes Receivables as reasonably requested by Agent or any Lender, provided that (1) the related Servicer underwriting memoranda for a particular Eligible Note Receivable of an Account Debtor shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) be delivered within 30 days of the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.initial closing of such Eligible Note Receivable;
(ci) In addition such other reconciliations of Notes Receivable and such other information respecting the business, financial condition, prospects or projections of Borrower or any of its Affiliates as Agent reasonably may request from time to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensestime.
Appears in 2 contracts
Samples: Loan and Security Agreement (Hercules Technology Growth Capital Inc), Loan and Security Agreement (Hercules Technology Growth Capital Inc)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Servicer shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company Servicer shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such the Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential confidential; provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2000 1), Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2000 1)
Reports and Notices. (a) In connection with Borrower hereby agrees that from and after the performance of its duties under Closing Date and until the Pooling Termination Date, Borrower shall maintain a standard and Servicing Agreement relating modern system for accounting and shall deliver (or, as applicable, cause to be delivered) to Lender the realization upon defaulted Mortgage Loansfinancial statements, notices, projections O3721488.v4 and other information at the Company as Master Servicer shall provide times and in the manner set forth below, and all in form and substance acceptable to the Purchaser the following notices and reportsLender:
(i) Within five Business Days 120 days after the end of each Distribution Date calendar year, a copy of M-tron Industries, Inc.’s consolidated and consolidating financial statements for that year, which financial statements shall be audited by a firm of independent certified public accountants acceptable to Lender (or included in or with which acceptance shall not be unreasonably withheld) and accompanied by an audit opinion of such accountants without qualification and certified as complete and correct, subject to changes resulting from year-end adjustments, by the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement)principal financial officer of M-tron Industries, the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.Inc.
(ii) Prior to Within 45 days after the Commencement end of Foreclosure in connection with any Mortgage Loaneach calendar quarter, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of M-tron Industries, Inc.’s consolidated and consolidating financial statements for that quarter and for that year to date, which financial statements shall be internally-prepared, and certified as complete and correct, by the principal financial officer of M-tron Industries, Inc.
(iii) With the statements submitted above, a referral letter from Compliance Certificate signed by Borrower, (A) stating that no Event of Default, nor any event which upon notice or lapse of time, or both would constitute such Servicer an Event of Default, has occurred, or if any such condition or event existed or exists, specifying it and describing what action Borrower has taken or proposes to take with respect thereto, and (B) setting forth, in summary form, figures showing the financial status of M-tron Industries, Inc. in respect of the financial covenants set forth herein.
(iv) Immediately upon any officer of Borrower obtaining knowledge of any condition or event which constitutes or, after notice or lapse of time or both, would constitute an attorney requesting Event of Default, a certificate of such person specifying the institution nature and period of foreclosurethe existence thereof, and what action Borrower has taken or is taking or proposes to take in respect thereof.
(v) Upon request of Lender, copies of all federal, state and local income tax returns and such other information as Lender may reasonably request.
(b) If requested by Borrower hereby agrees that from and after the PurchaserClosing Date and until the Termination Date, it shall deliver (or, as applicable, cause to be delivered) to Lender the Company shall cause various Collateral Reports at the Servicer (to the extent that the Company as Master Servicer is granted such authority times and in the related Servicing Agreement) manner set forth below, and all in form and substance acceptable to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.Lender:
(cA) In addition to Within 45 days after the foregoingend of each calendar quarter for which there is any outstanding Revolving Exposure, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request providedan accounts receivable aging report, howeveran accounts payable aging report, that such information is consistent with normal reporting practicesand an inventory report, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate ownedall for M-tron Industries, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.Inc.
Appears in 2 contracts
Samples: Credit Agreement (M-Tron Industries, Inc.), Credit Agreement (LGL Group Inc)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser Loss Mitigation Advisor the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with Upon request by the monthly statements Loss Mitigation Advisor, the Trustee shall provide such information as is available to Certificateholders any Eligible Certificateholder pursuant to Section 4.03(f) of the Pooling and Servicing Agreement), at the Company, shall provide to expense of the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balanceLoss Mitigation Advisor.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to shall provide the Purchaser Loss Mitigation Advisor with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser Loss Mitigation Advisor in the form of a copy of a referral letter from such the Master Servicer or a Subservicer to an attorney requesting the institution of foreclosure.
(b) If requested by the PurchaserLoss Mitigation Advisor, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to shall make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser Loss Mitigation Advisor in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (a) (i) (Da)(i)(D), or (a) (iia)(ii) which has been given to the PurchaserLoss Mitigation Advisor; provided, that (1) the related Master Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Master Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to shall provide to the Purchaser Loss Mitigation Advisor such information as the Purchaser Loss Mitigation Advisor may reasonably request provided, however, that such information is consistent with the Master Servicer's normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Master Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and provided, howeverfurther, that the Purchaser Loss Mitigation Advisor will reimburse the Company and the related Master Servicer for any out of pocket expenses.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ba Mortgage Securities Inc/), Pooling and Servicing Agreement (Ba Mortgage Securities Inc/)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) a. Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) b. Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Norwest Integrated Structured Assets Inc Series 1999-1 Trust)
Reports and Notices. Borrower covenants and agrees ------------------- that from and after the Closing Date and until the Termination Date, it shall deliver to Lender:
(a) In connection with Within 30 days after the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach fiscal month, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date a copy of the unaudited balance sheets of Borrower as of the end of such month and the related statements of income and cash flows for that portion of the Fiscal Year ending as of the end of such month, and (ii) a copy of the unaudited statements of income of Borrower for such month, all prepared in accordance with GAAP (subject to normal year-end adjustments), accompanied by the certification of the chief executive officer or included chief financial officer of Borrower that all such financial statements are complete and correct and present fairly in or accordance with the monthly statements GAAP (subject to Certificateholders pursuant to the Pooling and Servicing Agreementnormal year-end adjustments), the Companyfinancial position, shall provide to the Purchaser a report, using results of operations and the same methodology statements of cash flows of Borrower as at the end of such month and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureperiod then ended, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement that there was no Default or Event of Foreclosure Default in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company existence as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosuretime.
(b) If requested by the PurchaserAs soon as practicable, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority but in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and event within two (2) Business Days after Borrower becomes aware of the related Servicer existence of any Default or Event of Default, or any development or other information which would have a Material Adverse Effect, telephonic or telegraphic notice specifying the nature of such Default or Event of Default or development or information, including the anticipated effect thereof, which notice shall respond be promptly confirmed in writing within five Business Days orally or in writing by facsimile transmission(5) days.
(c) In addition If requested by Lender, copies of all federal, state, local and foreign tax returns and reports in respect of income, franchise or other taxes on or measured by income (excluding sales, use or like taxes) filed by Borrower.
(d) Such other information respecting Borrower's business (including with respect to the foregoingorders received and inventory purchased), the Company shall cause the Servicer (financial condition or prospects as Lender may, from time to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may time, reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesrequest.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company LHMC, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, LHMC shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company LHMC shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company LHMC shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer LHMC shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer LHMC shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c) In addition to the foregoing, the Company LHMC shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer LHMC shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential providedconfidential.
(d) With respect to all Loans which are serviced at any time by the LHMC through a Subservicer, howeverthe LHMC shall be entitled to rely for all purposes hereunder, that including for purposes of fulfilling its reporting obligations under this Section 2.01 on the Purchaser will reimburse accuracy and completeness of any information provided to it by the Company and the related Servicer for any out of pocket expensesapplicable subservicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Series 1999-4)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, as Servicer, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate Fund the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopierfacsimile transmission) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer the Company to an attorney requesting the institution of foreclosureforeclosure or a copy of a request to foreclose received by the Company from the related primary servicer which has been approved by the Company.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail facsimile transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (aa)(i) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; , provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-non- confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; , provided, that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesnon- confidential.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)
Reports and Notices. Notwithstanding that Net may not be required to be or remain subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, Net shall file (aif then permitted to do so) In connection with the performance Commission and provide (whether or not so filed with the Commission), within 15 days after the date on which Net is required to file the same with the Commission (or would be so required if it were subject to such reporting requirements), the Trustee and Holders and prospective Holders (upon request) with the annual reports and the information, documents and other reports, which are specified in Sections 13 and 15(d) of the Exchange Act. Net shall comply with the provisions of TIA § 314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of same shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its duties under covenants hereunder (as to which the Pooling Trustee is entitled to rely exclusively on Officer’s Certificates). Net and Servicing Agreement the Company shall not, and Net shall not cause the Restricted Subsidiaries to, reduce the level of all public disclosure practices (including those relating to the realization upon defaulted Mortgage Loansdisclosure of customer churn rates and subscriber base) of Net, the Company and the other Restricted Subsidiaries as Master Servicer of the Issue Date and shall comply with all applicable public disclosure requirements under the laws of Brazil with respect to information to be disclosed publicly to shareholders and creditors. The Company shall provide to the Purchaser the following notices and reportsTrustee:
(ia) Within five promptly (but in any event within 10 Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), of any Officer of the Company, shall provide to Net or any Restricted Subsidiary becoming aware of the Purchaser occurrence) notice of the occurrence of (i) a reportDefault, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior an Event of Default, (iii) any action by any holder of Senior Secured Indebtedness to the Commencement of Foreclosure in connection with any Mortgage Loanaccelerate Indebtedness owing to it by Net, the Company shall cause or any other Restricted Subsidiary or (iv) any legal action by any holder of Senior Secured Indebtedness to the extent that enforce Indebtedness owing to it by Net, the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.or any other Restricted Subsidiary;
(b) If requested promptly (but in any event within 10 Business Days after sending any notice described in clause (a) immediately above), a written report prepared by an Officer of the PurchaserCompany setting forth the details of the relevant event and the action that Net, the Company shall cause the Servicer (and any other applicable Restricted Subsidiary is taking or proposes to take with respect to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaserevent; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.and
(c) In addition promptly, notice that any Default or Event of Default has been cured, along with an Officer’s Certificate describing the steps taken in connection with the cure. For so long as any Securities remain outstanding, if at any time Net is not required to file with the Commission (or furnish to Holders, as the case may be) the reports required by the first paragraph of this Section 10.11, Net shall furnish to the foregoingHolders and to securities analysts and prospective investors, upon their request, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible be delivered pursuant to its servicing personnel and is non-confidential provided, however, that Rule 144A(d)(4) under the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesSecurities Act.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted [Pool I] [Pool II] Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of [Pool I] [Pool II] Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such [Pool I] [Pool II] Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any [Pool I] [Pool II] Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the [Pool I] [Pool II] Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any [Pool I] [Pool II] Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each [Pool I] [Pool II] Mortgage Loan that is at least ninety days delinquent and each [Pool I] [Pool II] Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Pass THR Cert Ser 1998-19 Trust)
Reports and Notices. (a) In connection with From and after the performance date of its duties under this Agreement, the Pooling and Servicing Agreement relating Borrowers shall deliver the following to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reportsLender:
(i) Within five Business Days after On or before Tuesday of each Distribution Date (or included in or with week, the monthly statements to Certificateholders pursuant Borrowers shall deliver to the Pooling Lender a report of actual Gross Receipts and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating Net Receipts for the Trust Estate one-week period ending on the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureimmediately preceding Friday, and indicating forecast Gross Receipts and Net Receipts for each such Mortgage Loan the loan number next 12 weeks, prepared in the format of Exhibit C attached to this Agreement and outstanding principal balancesigned by officers of the Borrowers.
(ii) Prior Within two Business Day after the end of each calendar month commencing with the month of July, 2001, the Borrowers shall deliver to the Commencement Lender a report of Foreclosure Gross Receipts and Net Receipts for such month and for the period commencing July 1, 2001, and ending on the last day of such month, which reports shall be prepared in connection reasonable detail and in a format acceptable to the Lender and shall be signed by officers of the Borrowers.
(iii) The Borrowers shall deliver to the Lender each of the monitoring reports specified in Exhibit D attached to this Agreement, with the frequency and by the dates specified in Exhibit D, each of which reports shall be prepared in reasonable detail and in a format acceptable to the Lender and shall be signed by officers of the Borrowers.
(iv) Immediately upon learning of any Mortgage Loanfailure of any Forbearance Condition to be satisfied, the Company Borrowers shall cause (deliver to the extent that the Company Lender written notice describing same. Except as Master Servicer is granted such authority otherwise expressly provided in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice paragraph (sent by telecopierb) of such proposed this Section, the reports and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may notices required by this paragraph shall be provided in addition to the Purchaser in reports, notices and information required to be furnished by the form Borrowers pursuant to the terms of a copy the Documents, including, without limitation, Section 5.1 of a referral letter from such Servicer to an attorney requesting the institution of foreclosureCredit Agreement.
(b) If requested by Section 5.1 of the Purchaser, the Company shall cause the Servicer (to the extent that the Company Credit Agreement is hereby modified and amended as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) follows:
(i) (B), (aThe only monthly reports required to be furnished by the Borrowers under Section 5.1(g) (i) (C), (a) (i) (D), or (a) of the Credit Agreement are the unauditied financial statements referred to in clause (ii) in such Section, which has been given to the Purchaser; provided, that (1) the related Servicer unauditied financial statements shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond furnished within five 15 Business Days orally or in writing by facsimile transmissionafter the end of each month.
(cii) In addition The date for the Borrowers to furnish the foregoingbudget for the Fiscal Year 2001 required by Section 5.1(h) of the Credit Agreement is hereby extended from July 31, 2001, to August 31, 2001.
(iii) The reports referred to in Section 5.1(i) of the Company Credit Agreement shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only no longer be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesrequired.
Appears in 1 contract
Samples: Forbearance Agreement (Akorn Inc)
Reports and Notices. Notwithstanding that Net may not be required to be or remain subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, Net shall file (aif then permitted to do so) In connection with the performance Commission and provide (whether or not so filed with the Commission), within 15 days after the date on which Net is required to file the same with the Commission (or would be so required if it were subject to such reporting requirements), the Trustee and Holders and prospective Holders (upon request) with the annual reports and the information, documents and other reports, which are specified in Sections 13 and 15(d) of the Exchange Act. Net shall comply with the provisions of TIA ss. 314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee's receipt of same shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company's compliance with any of its duties under covenants hereunder (as to which the Pooling Trustee is entitled to rely exclusively on Officer's Certificates). Net and Servicing Agreement the Company shall not, and Net shall not cause the Restricted Subsidiaries to, reduce the level of all public disclosure practices (including those relating 127 to the realization upon defaulted Mortgage Loansdisclosure of customer churn rates and subscriber base) of Net, the Company and the other Restricted Subsidiaries as Master Servicer of the Issue Date and shall comply with all applicable public disclosure requirements under the laws of Brazil with respect to information to be disclosed publicly to shareholders and creditors. The Company shall provide to the Purchaser the following notices and reportsTrustee:
(ia) Within five promptly (but in any event within 10 Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), of any Officer of the Company, shall provide to Net or any Restricted Subsidiary becoming aware of the Purchaser occurrence) notice of the occurrence of (i) a reportDefault, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior an Event of Default, (iii) any action by any holder of Senior Secured Indebtedness to the Commencement of Foreclosure in connection with any Mortgage Loanaccelerate Indebtedness owing to it by Net, the Company shall cause or any other Restricted Subsidiary or (iv) any legal action by any holder of Senior Secured Indebtedness to the extent that enforce Indebtedness owing to it by Net, the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.or any other Restricted Subsidiary;
(b) If requested promptly (but in any event within 10 Business Days after sending any notice described in clause (a) immediately above), a written report prepared by an Officer of the PurchaserCompany setting forth the details of the relevant event and the action that Net, the Company shall cause the Servicer (and any other applicable Restricted Subsidiary is taking or proposes to take with respect to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaserevent; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.and
(c) In addition to promptly, notice that any Default or Event of Default has been cured, along with an Officer's Certificate describing the foregoing, steps taken in connection with the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensescure.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing this Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser Directing Holder the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included Upon reasonable request of the Directing Holder, with respect to any Mortgage Loan listed as at least 30 days delinquent in or with the monthly statements statement provided to Certificateholders Noteholders pursuant to Section 7.05 of the Pooling and Servicing Agreement)Indenture, the Company, Servicer shall provide to the Purchaser a report, using the same methodology and calculations such information as it may have in its standard servicing reportspossession or may reasonably obtain, indicating for the Trust Estate reasonable out of pocket expenses of the number Servicer in providing such information to be paid promptly by the Directing Holder, upon receipt of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan an invoice from the loan number and outstanding principal balanceServicer.
(ii) Prior to the Commencement of Foreclosure in connection with any Subject Mortgage Loan, the Company Servicer shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser Directing Holder with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the such Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the PurchaserDirecting Holder, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their its normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser Directing Holder in connection with any Subject Mortgage Loan identified in a report or notice under subsection (aa)(i) (i) (B), (a) (i) (C), (a) (i) (D), or (aa)(ii) (ii) above which has been given to the PurchaserDirecting Holder; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c) In addition to the foregoing, the Company shall cause The Remittance Reports prepared by the Servicer (pursuant to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request providedSection 4.01, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out statements to Noteholders prepared by the Indenture Trustee pursuant to Section 7.05 of pocket expensesthe Indenture, shall each include the following additional information: (i) the number and aggregate unpaid principal balance of Mortgage Loans as to which an Election to Delay Foreclosure has been made and (ii) the number and aggregate unpaid principal balance of Mortgage Loans as to which an Election to Foreclose has been made.
Appears in 1 contract
Samples: Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Depositor, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(ib) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Depositor shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(iic) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company Depositor shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(bd) If requested by the Purchaser, the Company Depositor shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Depositor shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Depositor shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(ce) In addition to the foregoing, the Company Depositor shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer Depositor shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential providedconfidential.
(f) With respect to all Loans which are serviced at any time by the Depositor through a Subservicer, howeverthe Depositor shall be entitled to rely for all purposes hereunder, that including for purposes of fulfilling its reporting obligations under this Section 2.01 on the Purchaser will reimburse accuracy and completeness of any information provided to it by the Company and the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Depositor, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(ib) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Depositor shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(iic) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company Depositor shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(bd) If requested by the Purchaser, the Company Depositor shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Depositor shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Depositor shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(ce) In addition to the foregoing, the Company Depositor shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer Depositor shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential providedconfidential.
(f) With respect to all Mortgage Loans which are serviced at any time by the Depositor through a Subservicer, howeverthe Depositor shall be entitled to rely for all purposes hereunder, that including for purposes of fulfilling its reporting obligations under this Section 2.01 on the Purchaser will reimburse accuracy and completeness of any information provided to it by the Company and the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp)
Reports and Notices. Notwithstanding that the Company may not be required to be or remain subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file (aif then permitted to do so) In connection with the performance Commission and provide (whether or not so filed with the Commission), within 15 days after the date on which the Company is required to file the same with the Commission (or would be so required if it were subject to such reporting requirements), the Trustee and Holders and prospective Holders (upon request) with the annual reports and the information, documents and other reports, which are specified in Sections 13 and 15(d) of the Exchange Act. The Company shall comply with the provisions of TIA § 314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of same shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its duties under covenants hereunder (as to which the Pooling Trustee is entitled to rely exclusively on Officer’s Certificates). The Company and Servicing Agreement its Restricted Subsidiaries shall not reduce the level of all public disclosure practices (including those relating to the realization upon defaulted Mortgage Loans, disclosure of customer churn rates and subscriber base) of the Company and its Restricted Subsidiaries as Master Servicer of the Issue Date and shall comply with all applicable public disclosure requirements under the laws of Brazil with respect to information to be disclosed publicly to shareholders and creditors. The Company shall provide to the Purchaser the following notices and reportsTrustee:
(a) promptly (but in any event within 10 Business Days of any Officer of the Company or any Restricted Subsidiary becoming aware of the occurrence) notice of the occurrence of (i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement)a Default, the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior an Event of Default, (iii) any action by any holder of Senior Secured Indebtedness to the Commencement of Foreclosure in connection with any Mortgage Loan, accelerate Indebtedness owing to it by the Company shall cause or a Restricted Subsidiary or (iv) any legal action by any holder of Senior Secured Indebtedness to the extent that enforce Indebtedness owing to it by the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with or a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.Restricted Subsidiary;
(b) If requested promptly (but in any event within 10 Business Days after sending any notice described in clause (a) immediately above), a written report prepared by the Purchaser, an Officer of the Company shall cause setting forth the Servicer (to details of the extent relevant event and the action that the Company as Master Servicer and any applicable Restricted Subsidiary is granted such authority in the related Servicing Agreement) taking or proposes to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection take with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given respect to the Purchaserevent; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.and
(c) In addition to promptly, notice that any Default or Event of Default has been cured, along with an Officer’s Certificate describing the foregoing, steps taken in connection with the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensescure.
Appears in 1 contract
Reports and Notices. Borrower represents, agrees and promises that from and after the Closing Date until the Termination Date, Borrower shall deliver to Lender:
(a) In connection As frequently as Lender may request and in any event no less frequently than once per month and simultaneously with the performance delivery of its duties under each Notice of Revolving Credit Advance, (i) a Borrowing Base Certificate in
(b) Within 15 days following the Pooling end of each Fiscal Month, (i) a list of all Account Debtors, lessees, Leases, loans, Lease and Servicing Agreement loan types, Leased Equipment, types of Leased Equipment, original and outstanding Lease and loan balances relating to the realization upon defaulted Mortgage LoansCollateral, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior a summary accounts receivable analysis and aging report for Borrower's entire Lease portfolio, including those Leases which have been sold or pledged to third parties but which Borrower continues to service, (iii) an accounts payable analysis and aging report, and (iv) a description of all ineligible calculations;
(c) Within 15 days following the Commencement end of Foreclosure in connection with any Mortgage Loaneach Fiscal Month, the Company shall cause internally prepared Financial Statements for such Fiscal Month, accompanied by a certification of Lisx Xxxxxxx, Xenior Vice President of Borrower that such Financial Statements are complete and correct, that no Restricted Payments have been made, that Borrower is in compliance with all financial covenants contained herein and that no other Default has occurred (or specifying those Defaults of which she is aware), and showing in reasonable detail the calculations used in determining compliance with the financial covenants hereunder, such certification to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from Exhibit H attached hereto, or such Servicer to an attorney requesting the institution of foreclosure.other form as Lender shall require;
(bd) If requested by Within 120 days following the Purchaserclose of each Fiscal Year, the Company shall cause the Servicer audited consolidated and consolidating (at least with respect to Borrower) Financial Statements of Hypercom for such Fiscal Year, accompanied by (i) a report from Hypercom's accountants to the extent effect that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in their audit examination nothing has come to their attention to cause them to believe that a report under subsection (a) (i) (B)Default has occurred or specifying those Defaults of which they are aware, (a) (i) (C), (a) (i) (D), or (a) and (ii) which has been given to the Purchaser; provided, any management letter that (1) the related Servicer shall only may be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.issued;
(ce) In addition to Within 10 days after the foregoingfiling thereof, copies of the federal and state income tax returns of Borrower and all Guarantors; and
(f) Within 30 days following the end of each Fiscal Month, the Company shall cause compliance certificate as required by Section 6.3(a)(iii) of the Servicer (to the extent that the Company Loan and Security Agreement, dated as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request providedof July 31, however2001, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent between Hypercom and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesFoothill Capital Corporation.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the CompanyServicer, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate Fund the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company Servicer shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopierfacsimile transmission) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such the Servicer to an attorney requesting the institution of foreclosureforeclosure or a copy of a request to foreclose received by the Company from the related primary servicer which has been approved by the Servicer.
(b) If requested by the Purchaser, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail facsimile transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (aa)(i) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; , provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; , provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesconfidential.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (a) (ia)(i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) ___Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp Mor Pas THR Cer Se 2001-17)
Reports and Notices. (a) In connection with Borrower represents, agrees and promises that from and after the performance of its duties under Effective Date until the Pooling and Servicing Agreement relating Termination Date, Borrower shall deliver or cause to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide be delivered to the Purchaser the following notices and reportsAgent:
(1) within forty-five (45) days following the end of each Fiscal Quarter, the unaudited Financial Statements for such Fiscal Quarter, which Financial Statements shall provide comparisons on a year-to-date basis, and accompanied by a certification by the Chief Financial Officer or Treasurer of Borrower that such Financial Statements are complete and correct, that there was no Default or Event of Default (or specifying those Defaults or Events of Default that he or she was aware), and showing in reasonable detail the calculations used in determining compliance with the financial covenants hereunder;
(2) within one hundred five (105) days following the close of each audited Fiscal Year, the Financial Statements for such Fiscal Year certified without qualification by an independent certified accounting firm acceptable to the Lenders, which Financial Statements shall provide comparisons on a year-to-date basis, and accompanied by (i) Within five a statement in reasonable detail showing the calculations used in determining compliance with the financial covenants hereunder, (ii) a report from Borrower's accountants to the effect that in connection with their audit examination nothing has come to their attention to cause them to believe that a Default or Event of Default has occurred or specifying those Defaults or Events of Default of which they are aware, and (iii) any management letter that may be issued; and
(3) within ten (10) Business Days after of the end of each Distribution Date calendar month, a certification by the Chief Executive Officer or Treasurer setting forth (or included in or with i) the monthly statements to Certificateholders Receivables Value, (ii) the Collateral Value, and (iii) the aggregate of all amounts paid by the Receivable Obligors pursuant to the Pooling Receivable Obligor Contracts during the preceding calendar month;
(4) promptly, written notice of the occurrence of any Default or Event of Default, and Servicing Agreement)the occurrence of existence of any event or circumstances that with the giving of notice, the Companylapse of time, shall provide or both, is reasonably likely to the Purchaser (if not cured or remedied during such time) constitute a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number Default or an Event of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.Default;
(ii5) Prior to the Commencement promptly, written notice of Foreclosure any matter that has resulted or may result in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.Material Adverse Effect; and
(b6) If requested by such other information respecting the Purchaserbusiness, the Company shall cause the Servicer (financial condition, prospects or projections of Borrower or any Affiliate thereof as Agent or any Lender reasonably may request from time to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmissiontime.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Loan Agreement (Elamex Sa De Cv)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Company, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and 170 is non-confidential and (2) the Company shall not be required to provide any written information under this subsection.
(c) In addition to the foregoing, the Company shall provide to the Purchaser such information as the Purchaser may reasonably request concerning each Mortgage Loan that is at least sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided that the Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmissionconfidential.
(cd) In addition With respect to all Mortgage Loans which are serviced at any time by the foregoingCompany through a Subservicer, the Company shall cause be entitled to rely for all purposes hereunder, including for purposes of fulfilling its reporting obligations under this Section 2.01 on the Servicer (accuracy and completeness of any information provided to it by the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Homeside Mortgage Securities Inc /De/)
Reports and Notices. Borrower covenants and agrees that from and after the Closing Date and until the Commitment Termination Date has occurred and the Obligations are fully satisfied, Borrower shall deliver (or, with respect to documents described in clause (d) below that are received by Borrower, use its best efforts to deliver) to Lender:
(a) In connection with Immediately upon the performance determination by Borrower of its duties under the Pooling and Servicing Agreement relating to existence of any Default or Event of Default, or of any development or other information which could have a Material Adverse Effect or otherwise may result in a Default or Event of Default, telephonic notice specifying the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) nature of such proposed and imminent foreclosureDefault or Event of Default or development or information, stating including the loan number and the aggregate amount owing under the Mortgage Loan. Such anticipated effect thereof, which notice may shall be provided to the Purchaser promptly confirmed in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosurewriting within two days.
(b) If requested by As soon as available and in any event within 90 days after the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B)end of Borrower's Fiscal Year, (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) consolidated sheet of Borrower and its Subsidiaries as at the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted end of such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company Fiscal Year and the related Servicer consolidated statements of income, stockholders' equity and cash flows of Borrower and its Subsidiaries for any out such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year, all in reasonable detail and certified by the chief financial officer of pocket expenses.Borrower that they fairly present the financial condition of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated, (b) a report thereon of Arthxx Xxxexxxx XXX or other independent certified public accountants of recognized national standing selected by Borrower and satisfactory to Lender, which report shall be unqualified and shall state that such consolidated financial statements fairly present the consolidated financial position
Appears in 1 contract
Reports and Notices. Notwithstanding that the Company may not be required to be or remain subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file (aif then permitted to do so) In connection with the performance Commission and provide (whether or not so filed with the Commission), within 15 days after the date on which the Company is required to file the same with the Commission (or would be so required if it were subject to such reporting requirements), the Trustee and Holders and prospective Holders (upon request) with the annual reports and the information, documents and other reports, which are specified in Sections 13 and 15(d) of the Exchange Act. The Company shall comply with the provisions of TIA ss. 314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee's receipt of same shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company's compliance with any of its duties under covenants hereunder (as to which the Pooling Trustee is entitled to rely exclusively on Officer's Certificates). The Company and Servicing Agreement its Restricted Subsidiaries shall not reduce the level of all public disclosure practices (including those relating to the realization upon defaulted Mortgage Loans, disclosure of customer churn rates and subscriber base) of the Company and its Restricted Subsidiaries as Master Servicer of the Issue Date and shall comply with all applicable public disclosure requirements under the laws of Brazil with respect to information to be disclosed publicly to shareholders and creditors. 121 The Company shall provide to the Purchaser the following notices and reportsTrustee:
(a) promptly (but in any event within 10 Business Days of any Officer of the Company or any Restricted Subsidiary becoming aware of the occurrence) notice of the occurrence of (i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement)a Default, the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior an Event of Default, (iii) any action by any holder of Senior Secured Indebtedness to the Commencement of Foreclosure in connection with any Mortgage Loan, accelerate Indebtedness owing to it by the Company shall cause or a Restricted Subsidiary or (iv) any legal action by any holder of Senior Secured Indebtedness to the extent that enforce Indebtedness owing to it by the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with or a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.Restricted Subsidiary;
(b) If requested promptly (but in any event within 10 Business Days after sending any notice described in clause (a) immediately above), a written report prepared by the Purchaser, an Officer of the Company shall cause setting forth the Servicer (to details of the extent relevant event and the action that the Company as Master Servicer and any applicable Restricted Subsidiary is granted such authority in the related Servicing Agreement) taking or proposes to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection take with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given respect to the Purchaserevent; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.and
(c) In addition to promptly, notice that any Default or Event of Default has been cured, along with an Officer's Certificate describing the foregoing, steps taken in connection with the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensescure.
Appears in 1 contract
Reports and Notices. Borrower covenants and agrees ------------------- that from and after the Closing Date and until the Commitment Termination Date, it shall deliver to Lender:
(a) In connection with Within 45 days after the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach fiscal quarter, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date a copy of the unaudited consolidated balance sheets of Borrower as of the end of such month and the related statements of income and cash flows for that portion of the Fiscal Year ending as of the end of such month, and (ii) a copy of the unaudited consolidated statements of income of Borrower for such month, all prepared in accordance with GAAP (subject to normal year-end adjustments), accompanied by the certification of the chief executive officer or included chief financial officer of Borrower that all such financial statements are complete and correct and present fairly in or accordance with the monthly statements GAAP (subject to Certificateholders pursuant to the Pooling and Servicing Agreementnormal year-end adjustments), the Companyfinancial position, shall provide to the Purchaser a report, using results of operations and the same methodology statements of cash flows of Borrower as at the end of such month and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureperiod then ended, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement that there was no Default or Event of Foreclosure Default in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company existence as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosuretime.
(b) If requested by the PurchaserAs soon as practicable, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority but in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and event within two (2) Business Days after Borrower becomes aware of the related Servicer existence of any Default or Event of Default, or any development or other information which would have a Material Adverse Effect, telephonic or telegraphic notice specifying the nature of such Default or Event of Default or development or information, including the anticipated effect thereof, which notice shall respond be promptly confirmed in writing within five Business Days orally or in writing by facsimile transmission(5) days.
(c) In addition If requested by Lender, copies of all federal, state, local and foreign tax returns and reports in respect of income, franchise or other taxes on or measured by income (excluding sales, use or like taxes) filed by Borrower or any of its Subsidiaries.
(d) Such other information respecting Borrower's or its Subsidiaries' business (including with respect to the foregoingorders received and inventory purchased), the Company shall cause the Servicer (financial condition or prospects as Lender may, from time to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may time, reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesrequest.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) : Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, as Master Servicer, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) . Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopierfacsimile transmission) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer the Company to an attorney requesting the institution of foreclosureforeclosure or a copy of a request to foreclose received by the Company from the related primary servicer which has been approved by the Company.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail facsimile transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (aa)(i) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; , provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; , provided, that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesconfidential.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenpoint Mort Sec Inc Mort Back Ps THR Certs Ser 2003-1)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Home Equity Loans, the Company Servicer as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the CompanyServicer, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Home Equity Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Home Equity Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Home Equity Loan, the Company Servicer shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Home Equity Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such the Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Home Equity Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company Servicer shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Home Equity Loan that is at least ninety days delinquent and each Mortgage Home Equity Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Norwest Asset Acceptance Corp)
Reports and Notices. (a1) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Company, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(ia) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(iib) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b2) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer Company shall respond within five Business Days orally or in writing by facsimile transmissionnot be required to provide any written information under this subsection.
(c3) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, provided that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesconfidential.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)
Reports and Notices. Borrower covenants and agrees that from and after the Closing Date and until the Commitment Termination Date, it shall deliver to Lender:
(a) In connection with Within 45 days after the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach fiscal quarter, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date a copy of the unaudited consolidated balance sheets of Borrower as of the end of such month and the related state ments of income and cash flows for that portion of the Fiscal Year ending as of the end of such month, and (ii) a copy of the unaudited consolidated statements of income of Borrower for such month, all prepared in accordance with GAAP (subject to normal year-end adjustments), accompanied by the certification of the chief executive officer or included chief financial officer of Borrower that all such financial statements are complete and correct and present fairly in or accordance with the monthly statements GAAP (subject to Certificateholders pursuant to the Pooling and Servicing Agreementnormal year- end adjustments), the Companyfinancial position, shall provide to the Purchaser a report, using results of operations and the same methodology statements of cash flows of Borrower as at the end of such month and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureperiod then ended, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement that there was no Default or Event of Foreclosure Default in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company existence as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosuretime.
(b) If requested by the PurchaserAs soon as practicable, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority but in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and event within two (2) Business Days after Borrower becomes aware of the related Servicer existence of any Default or Event of Default, or any development or other information which would have a Material Adverse Effect, telephonic or telegraphic notice specifying the nature of such Default or Event of Default or development or information, including the anticipated effect thereof, which notice shall respond be promptly confirmed in writing within five Business Days orally or in writing by facsimile transmission(5) days.
(c) In addition If requested by Lender, copies of all federal, state, local and foreign tax returns and reports in respect of income, franchise or other taxes on or measured by income (excluding sales, use or like taxes) filed by Borrower or any of its Subsidiaries.
(d) Such other information respecting Borrower's or its Subsidiaries' business (including with respect to the foregoingorders received and inventory purchased), the Company shall cause the Servicer (financial condition or prospects as Lender may, from time to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may time, reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesrequest.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.Servicing
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Pass Thro Cert Ser 1998-12 Tr)
Reports and Notices. From the Closing Date until the Termination Date, Borrower shall deliver to Lender:
(a) In connection with within thirty (30) days following the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach Fiscal Month, the Company as Master Servicer Financial Statements for such Fiscal Month, which shall provide comparisons to the Purchaser the following notices budget and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating actual results for the Trust Estate corresponding period during the number of Mortgage Loans that are (A) thirty daysprior Fiscal Year, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureboth on a monthly and year-to-date basis, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with accompanied by a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser certification in the form of a copy Exhibit J by the Chief Executive Officer or Chief Financial Officer of a referral letter from Borrower that such Servicer to an attorney requesting Financial Statements are complete and correct, that there was no Default (or specifying those Defaults of which he or she was aware), and showing in reasonable detail the institution of foreclosure.calculations used in determining compliance with the financial covenants hereunder;
(b) If requested within forty-five (45) days following the end of each Fiscal Quarter, the Financial Statements for such Fiscal Quarter, which shall provide comparisons to budget and actual results for the corresponding period during the prior Fiscal Year, both on a monthly and year-to-date basis, and accompanied by a certification in the form of Exhibit J by the PurchaserChief Executive Officer or Chief Financial Officer of Borrower that such Financial Statements are complete and correct, the Company shall cause the Servicer that there was no Default (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, specifying those Defaults of which he or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Bshe was aware), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to and showing in reasonable detail the Purchaser; provided, that (1) calculations used in determining compliance with the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.financial covenants hereunder;
(c) In addition within one hundred and five (105) days following the close of each Fiscal Year, the Financial Statements for such Fiscal Year certified without qualification by an independent certified accounting firm acceptable to Lender, which shall provide comparisons to the foregoingprior Fiscal Year, and shall be accompanied by (i) a statement in reasonable detail showing the calculations used in determining compliance with the financial covenants hereunder, (ii) a report from Borrower's accountants to the effect that in connection with their audit examination nothing has come to their attention to cause them to believe that a Default has occurred or specifying those Defaults of which they are aware, and (iii) any management letter that may be issued;
(d) not less than thirty (30) days after the beginning of each Fiscal Year, the Company shall cause Projections, which will be prepared by Borrower in good faith, with care and diligence, and using assumptions that are reasonable under the Servicer circumstances at the time such Projections are delivered to Lender and disclosed therein when delivered; and
(to the extent that the Company as Master Servicer is granted e) such authority in the related Servicing Agreement) to provide to the Purchaser such other reports and information as the Purchaser Lender may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesrequest.
Appears in 1 contract
Samples: Loan and Security Agreement (DE Acquisition 2, Inc.)
Reports and Notices. From the Closing Date until the Termination Date, Borrower shall deliver to Purchaser:
(a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:Intentionally omitted;
(b) (i) Within within forty-five Business Days after (45) days following the end of each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement)Fiscal Quarter, the CompanyFinancial Statements for such Fiscal Quarter, which shall provide comparisons to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating actual results for the Trust Estate corresponding period during the number of Mortgage Loans that are (A) thirty daysprior Fiscal Year, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosureboth on a quarterly and year-to-date basis, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with accompanied by a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser certification in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested Exhibit G by the PurchaserChief Executive Officer or Chief Financial Officer of BHT Global that such Financial Statements are complete and correct in all material respects, the Company shall cause the Servicer that there was no Default (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, specifying those Defaults of which he or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Bshe was aware), (a) (i) (C)and showing in reasonable detail the calculations used in determining compliance with the financial covenants hereunder, (a) (i) (D), or (a) and (ii) within forty-five (45) days following the end of each Fiscal Quarter, the quarterly management reports for such Fiscal Quarter, which has been given to shall be prepared consistent with management reports which Borrowers are preparing in the Purchaser; provided, that (1) ordinary course of business as of the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.date hereof;
(c) In addition within ninety (90) days following the close of each Fiscal Year, the audited Financial Statements for such Fiscal Year certified by the Chief Financial Officer of BHT Global, which shall provide comparisons to the foregoingprior Fiscal Year, and shall be accompanied by a statement in reasonable detail showing the calculations used in determining compliance with the financial covenants hereunder;
(d) not less than thirty (30) days prior to the close of each Fiscal Year, the Company shall cause Projections, which will be prepared by Borrowers in good faith, with care and diligence, and using assumptions that are reasonable under the Servicer circumstances at the time such Projections are delivered to Purchaser and disclosed therein when delivered; and
(to e) all the extent that the Company reports and other information as Master Servicer is granted such authority set forth in Exhibit B in the related Servicing Agreement) to provide to the Purchaser such information time frames set forth therein and as the Purchaser may additionally reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required from time to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensestime.
Appears in 1 contract
Samples: Note Purchase and Security Agreement (Biohitech Global, Inc.)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage LoansLoans serviced by it, the Company as Master Servicer shall provide to the Purchaser Loss Mitigation Advisor the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with Upon request by the monthly statements Loss Mitigation Advisor, the Trustee shall provide such information as is available to Certificateholders any Eligible Certificateholder pursuant to Section 4.03(f) of the Pooling and Servicing Agreement), at the Company, shall provide to expense of the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balanceLoss Mitigation Advisor.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage LoanLoan serviced by it, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to shall provide the Purchaser Loss Mitigation Advisor with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser Loss Mitigation Advisor in the form of a copy of a referral letter from such the Master Servicer or a Subservicer to an attorney requesting the institution of foreclosure.
(b) If requested by the PurchaserLoss Mitigation Advisor, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to shall make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser Loss Mitigation Advisor in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (a) (i) (Da)(i)(D), or (a) (iia)(ii) which has been given to the PurchaserLoss Mitigation Advisor; provided, that (1) the related Master Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Master Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to shall provide to the Purchaser Loss Mitigation Advisor such information as the Purchaser Loss Mitigation Advisor may reasonably request provided, however, that such information is consistent with the Master Servicer's normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Master Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and provided, howeverfurther, that the Purchaser Loss Mitigation Advisor will reimburse the Company and the related Master Servicer for any out of pocket expenses.. 245
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ba Mortgage Securities Inc Mort Pass THR Cert Series 1998-1)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted [Pool 1] [Pool 2] Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of [Pool 1] [Pool 2] Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such [Pool 1] [Pool 2] Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any [Pool 1] [Pool 2] Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the [Pool 1] [Pool 2] Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any [Pool 1] [Pool 2] Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each [Pool 1] [Pool 2] Mortgage Loan that is at least ninety days delinquent and each [Pool 1] [Pool 2] Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Ps THR Cert Ser 1998-4 Trust)
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders Securityholders pursuant to the Pooling and Servicing Agreement), the Company[Company][Trustee], shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to the Purchaser; provided, that (1) the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expenses.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securitization Inc)
Reports and Notices. Borrower represents, agrees and promises that from and after the Closing Date until the Termination Date, Borrower shall deliver to Lender:
(a) In connection with within fifteen (15) days following the performance end of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loanseach Fiscal Month, the Company as Master Servicer shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosurefrequently if requested by Lender during any time that a Default exists, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser Borrowing Base Certificate in the form of a copy EXHIBIT B as of a referral letter from the last day of the previous Fiscal Month detailing ineligible Accounts for adjustment to the Borrowing Base, certified as true and correct by the chief financial officer of Borrower's Agent or such Servicer other officer as is acceptable to an attorney requesting the institution of foreclosure.Lender;
(b) If requested within thirty (30) days following the end of each Fiscal Month, the Financial Statements for such Fiscal Month, which shall provide comparisons to budget and actual results for the corresponding period during the prior Fiscal Year, both on a monthly and year-to-date basis, and accompanied by a certification in the form of EXHIBIT F by the Purchaserchief executive officer or chief financial officer of Borrower's Agent that such Financial Statements are complete and correct, the Company shall cause the Servicer that there was no Default (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, specifying those Defaults of which he or overnight mail transmission, by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Bshe was aware), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been given to and showing in reasonable detail the Purchaser; provided, that (1) calculations used in determining compliance with the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmission.financial covenants hereunder;
(c) In addition within ninety (90) days following the close of each Fiscal Year, the Financial Statements for such Fiscal Year certified without qualification by an independent certified accounting firm acceptable to Lender, which shall provide comparisons to the foregoingprior Fiscal Year, and shall be accompanied by (i) a statement in reasonable detail showing the calculations used in determining compliance with the financial covenants hereunder, (ii) a report from Borrower's accountants to the effect that in connection with their audit examination nothing has come to their attention to cause them to believe that a Default has occurred or specifying those Defaults of which they are aware, and (iii) any management letter that may be issued;
(d) not less than thirty (30) days prior to the close of each Fiscal Year, the Company Projections, which will be prepared by Borrower in good faith, with care and diligence, and using assumptions which are reasonable under the circumstances at the time such Projections are delivered to Lender and disclosed therein when delivered;
(e) promptly upon the filing thereof, copies of all registration statements (other than the exhibits thereto and any registration statements on Form S-8 or its equivalent) and annual, quarterly or monthly reports which Borrower shall cause have filed with the Servicer Securities and Exchange Commission; and
(to the extent that the Company as Master Servicer is granted f) such authority in the related Servicing Agreement) to provide to the Purchaser such other reports and information as the Purchaser may be reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required requested by Lender from time to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensestime.
Appears in 1 contract
Reports and Notices. (a) In connection with the performance of its duties under the Pooling and Servicing Agreement relating to the realization upon defaulted Mortgage Loans, the Company Company, as Master Servicer Servicer, shall provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution Date (or included in or with the monthly statements statement to Certificateholders pursuant to the Pooling and Servicing Agreement), the Company, Company shall provide to the Purchaser a report, using the same methodology and calculations in its standard servicing reports, report indicating for the Trust Estate the number of Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or more delinquent or (D) in foreclosure, and indicating for each such Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with any Mortgage Loan, the Company shall cause (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) the Servicer to provide the Purchaser with a notice (sent by telecopier) of such proposed and imminent foreclosure, stating the loan number and the aggregate amount owing under the Mortgage Loan. Such notice may be provided to the Purchaser in the form of a copy of a referral letter from such Servicer to an attorney requesting the institution of foreclosure.
(b) If requested by the Purchaser, the Company shall cause the Servicer (to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to make its servicing personnel available (during their normal business hours) to respond to reasonable inquiries, by phone or in writing by facsimile, electronic, or overnight mail transmission, inquiries by the Purchaser in connection with any Mortgage Loan identified in a report under subsection (a) (i) (Ba)(i)(B), (a) (i) (Ca)(i)(C), (aa)(i)(D) (i) (D), or (a) (iia)(ii) which has been given to the Purchaser; provided, that (1) the related Servicer Company shall only be required to provide information that is readily accessible to its servicing personnel and is non- confidential and (2) the Company shall not be required to provide any written information under this subsection.
(c) In addition to the foregoing, the Company shall provide to the Purchaser such information as the Purchaser may reasonably request concerning each Mortgage Loan that is at least sixty days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided that the Company shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential and (2) the related Servicer shall respond within five Business Days orally or in writing by facsimile transmissionconfidential.
(cd) In addition With respect to all Mortgage Loans which are serviced at any time by the foregoingCompany through a Subservicer, the Company shall cause be entitled to rely for all purposes hereunder, including for purposes of fulfilling its reporting obligations under this Section 2.01 on the Servicer (accuracy and completeness of any information provided to it by the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement) to provide to the Purchaser such information as the Purchaser may reasonably request provided, however, that such information is consistent with normal reporting practices, concerning each Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan which has become real estate owned, through the final liquidation thereof; provided, that the related Servicer shall only be required to provide information that is readily accessible to its servicing personnel and is non-confidential provided, however, that the Purchaser will reimburse the Company and the related Servicer for any out of pocket expensesapplicable Subservicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)