Reports of Foreclosure and Abandonment of Mortgaged Property. Each year the Trustee shall make the reports of foreclosures and abandonments of any Mortgaged Property required by Section 6050J of the Code. In order to facilitate this reporting process, the Servicer, on or before February 15th of each year, shall provide to the Trustee, reports relating to each instance occurring during the previous calendar year in which the Servicer (i) on behalf of the Trust Fund acquires an interest in a Mortgaged Property through foreclosure or other comparable conversion in full or partial satisfaction of the SBA Loan, or (ii) knows or has reason to know that a Mortgaged Property has been abandoned.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Money Store of New York Inc), Pooling and Servicing Agreement (Money Store Sba Loan Backed Adj Rak Cert Series 1997-I), Pooling and Servicing Agreement (Money Store of New York Inc)
