Repurchase Requests. If the Servicer or the Special Servicer (i) receives a Repurchase Request, or such a Repurchase Request is forwarded to the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request.
Appears in 3 contracts
Samples: Servicing Agreement (Granite Point Mortgage Trust Inc.), Servicing Agreement (Granite Point Mortgage Trust Inc.), Servicing Agreement (Granite Point Mortgage Trust Inc.)
Repurchase Requests. If the Servicer or the Special Servicer (i) receives a Repurchase Request, or such a Repurchase Request is forwarded to the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second next Business Day following receiptDay) of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity of the related Collateral InterestMortgage Asset, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request. A Repurchase Request Recipient shall not be required to provide any information in a 15Ga-1 Notice protected by the attorney client privilege or attorney work product doctrines. The Mortgage Asset Purchase Agreement will provide that (i) any 15Ga-1 Notice provided pursuant to this Section 3.19 is so provided only to assist the Seller and Issuer or their respective Affiliates to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii) (A) no action taken by, or inaction of, a Repurchase Request Recipient and (B) no information provided pursuant to this Section 3.19 by a Repurchase Request Recipient, shall be deemed to constitute a waiver or defense to the exercise of any legal right the Repurchase Request Recipient may have with respect to the Mortgage Asset Purchase Agreement, including with respect to any Repurchase Request that is the subject of a 15Ga-1 Notice.
Appears in 2 contracts
Samples: Servicing Agreement (TPG RE Finance Trust, Inc.), Servicing Agreement (TPG RE Finance Trust, Inc.)
Repurchase Requests. If the Servicer or the Special Servicer (i) receives a Repurchase Request, or such a Repurchase Request is forwarded to the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); ) or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second next Business Day following receiptDay) of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 15Ga‑1 Notice”) to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 15Ga‑1 Notice shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request.
Appears in 1 contract
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Collateralized Loan Obligation 2013-1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” relating to Arbor Realty Commercial Real Estate Notes 2017-FL2, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) thereunder. Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the applicable procedures with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Collateralized Loan Obligation 2014-1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Commercial Real Estate Notes 2015-FL1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Commercial Real Estate Notes 2015-FL2, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Collateralized Loan Obligation 2012-1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Commercial Real Estate Notes 2016-FL1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If (a) In the Servicer or event the Special Servicer (i) Subservicer receives a Repurchase RequestRequest directly from an Investor, or a repurchase is otherwise required pursuant to the terms of the applicable Agency Requirements, the Subservicer shall notify the Owner/Servicer within five (5) Business Days of receipt of such a Repurchase Request is forwarded to and provide the Owner/Servicer or Special with such information reasonably requested by the Owner/Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect relating to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by . The Subservicer shall further cooperate with and assist the Person making Owner/Servicer in reviewing and responding to such Repurchase Request, then and the Owner/Servicer may take such actions it deems necessary and appropriate to rebut, appeal or otherwise respond any such Repurchase Request. The Subservicer shall not agree to repurchase any Mortgage Loan subject to any Repurchase Request Recipient without the prior written consent of the Owner/Servicer.
(b) In the event the Owner/Servicer requests an originator to repurchase such Mortgage Loan and/or the Servicing Rights to such Mortgage Loan, the Subservicer agrees to cooperate with the Owner/Servicer to provide the Owner/Servicer with reasonably requested information relating to such request.
(c) If the Mortgage Loan is to be repurchased, the Subservicer shall deliver a notice calculate, at the Owner/Servicer’s request and on the Owner/Servicer’s behalf, amounts required to repurchase the Mortgage Loan and the Owner/Servicer shall wire such amount to the Subservicer no later than two (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or 2) Business Days prior to the second Business Day following receipt) of date such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) amount is to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis be remitted for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request.
Appears in 1 contract
Repurchase Requests. If the Servicer Issuer or the Special Servicer Trustee receives or otherwise becomes aware of any request or demand whether oral or written that a Collateral Interest be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Collateral Interest (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person, then the Trustee or the Issuer shall, with respect to any oral demand, request that such demand be put in writing, and shall promptly forward or otherwise provide written notice of each such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives Master Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.19 of the Servicing Agreement relating to RCMC 2012 CREL1, LLC requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Issuer pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice Master Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.19 of the Servicing Agreement with respect to such Repurchase Request. If the Trustee or the date any Issuer receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientMaster Servicer, then the Trustee or the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestMaster Servicer.
Appears in 1 contract
Samples: Indenture (Redwood Trust Inc)
Repurchase Requests. If the Issuer, the Trustee, the Note Administrator, the Collateral Manager, the Servicer or the Special Servicer receives any request or demand that a Mortgage Asset be repurchased or replaced arising from any Material Breach of a representation or warranty made with respect to such Mortgage Asset or any Material Document Defect (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the Servicer or Special Servicer, then the Collateral Manager (on behalf of the Issuer), the Trustee or the Note Administrator, as applicable, shall promptly forward such notice of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, to the Servicer (if related to a performing Mortgage Loan) or Special Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.19 of the Servicing Agreement relating to LMF 2023-1, LLC, requiring action from you as the “Repurchase Request Recipient” thereunder.” Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request is forwarded to by the Collateral Manager, the Servicer or Special Servicer by a party pursuant to the Indenture in accordance with Section 7.17 of the Indenture (prior sentence, the Servicer or the Special Servicer, as applicable, shall be deemed to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then be the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) in respect of such Repurchase Request or withdrawal of a Repurchase Request (eachRequest, a “15Ga-1 Notice”) to as the Issuer case may be, and shall be responsible for complying with the Seller, procedures set forth in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity Section 3.19 of the related Collateral Interest, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as Servicing Agreement with respect to whether it currently plans to pursue such Repurchase Request.
Appears in 1 contract
Samples: Indenture and Security Agreement (Lument Finance Trust, Inc.)
Repurchase Requests. If the Servicer or the Special Servicer (i) receives a Repurchase Request, or such a Repurchase Request is forwarded to the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second next Business Day following receiptDay) of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity of the related Collateral InterestMortgage Asset, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request. A Repurchase Request Recipient shall not be required to provide any information in a 15Ga-1 Notice protected by the attorney client privilege or attorney work product doctrines. The Mortgage Asset Purchase Agreement will provide that (i) any 15Ga-1 Notice provided pursuant to this Section 3.19 is so provided only to assist the Seller and Issuer or their respective Affiliates to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii) (A) no action taken by, or inaction of, a Repurchase Request Recipient and (B) no information provided pursuant to this Section 3.19 by a Repurchase Request Recipient, shall be deemed to constitute a waiver or defense to the exercise of any legal right the Repurchase Request Recipient may have with USActive 56231551.8.docx respect to the Mortgage Asset Purchase Agreement, including with respect to any Repurchase Request that is the subject of a 15Ga-1 Notice. Section III.20 Investor Q&A Forum and Rating Agency Q&A Forum and Servicer Document Request Tool. Following receipt of an inquiry submitted to the Investor Q&A Forum and forwarded by the Note Administrator to the Servicer or the Special Servicer, as applicable (based on whether such Inquiry falls within the scope of such party’s responsibilities hereunder), unless such party determines not to answer such Inquiry as provided below, such party shall reply to the inquiry, which reply of the Servicer or the Special Servicer, as applicable, shall be delivered to the Note Administrator by electronic mail. If the Servicer or the Special Servicer determines, in its respective sole discretion, that (i) the Inquiry is not of a type described in Section 10.13(a) of the Indenture, (ii) answering any Inquiry would not be in the best interests of the Issuer or the Noteholders, (iii) answering any Inquiry would be in violation of applicable law, the applicable Asset Documents or the Transaction Documents, (iv) answering any Inquiry would materially increase the duties of, or result in significant additional cost or expense to, the Note Administrator, the Servicer or the Special Servicer, as applicable, (v) answering any Inquiry would reasonably be expected to result in the waiver of an attorney-client privilege or the disclosure of attorney work product, or (vi) answering any Inquiry is otherwise, not advisable, it shall not be required to answer such Inquiry and shall promptly notify the Note Administrator of such determination. Following receipt of an inquiry submitted to the Rating Agency Q&A Forum and Servicing Document Request Tool, and forwarded by the 17g-5 Information Provider to the Servicer or the Special Servicer, as applicable (based on whether such Inquiry falls within the scope of such party’s responsibilities hereunder), unless such party determines not to answer such Inquiry as provided below, such party shall reply to the inquiry, which reply of the Servicer, or the Special Servicer, as applicable, shall be delivered to the Note Administrator by electronic mail. If the Servicer or the Special Servicer determines, in its respective sole discretion, that (i) answering the inquiry would be in violation of applicable law, the Servicing Standard, the Indenture, this Agreement or the applicable Asset Documents, (ii) answering the inquiry would or is reasonably expected to result in a waiver of an attorney-client privilege or the disclosure of attorney work product, or (iii) answering the inquiry would materially increase the duties of, or result in significant additional cost or expense to, such party, and the performance of such additional duty or the payment of such additional cost or expense is beyond the scope of its duties under the Indenture or this Agreement, as applicable, it shall not be required to answer such Inquiry and shall promptly notify the Note Administrator of such determination.
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Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Collateral Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Mortgage Loan be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Mortgage Loan (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Collateral Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under
Section 3.01 (c) of the Servicing Agreement relating to DivCore CLO 2013-1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) from the Trustee or Collateral Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Collateral Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Collateral Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
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Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” relating to Arbor Realty Commercial Real Estate Notes 2017-FL3, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) thereunder. Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the applicable procedures with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer or the Special Servicer (i) receives a Repurchase Request, or such a Repurchase Request is forwarded to the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second next Business Day following receiptDay) of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity of the related Collateral InterestMortgage Asset, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request.
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Repurchase Requests. If the Servicer Issuer, the Trustee or the Special Servicer Loan Obligation Manager receives or otherwise becomes aware of any request or demand whether oral or written that a Loan Obligation be repurchased or replaced arising from any breach of a representation or warranty made with respect to such Loan Obligation (iany such request or demand, a “Repurchase Request”) receives or a withdrawal of a Repurchase Request from any Person other than the CLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, shall promptly forward or otherwise provide written notice of such Repurchase Request or withdrawal of a Repurchase Request, or such a Repurchase Request is forwarded to as the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicablecase may be, to the extent it receives CLO Servicer, and include the following statement in the related correspondence: “This is a “[Repurchase Request]/[withdrawal of a Repurchase Request]” under Section 3.01(c) of the Servicing Agreement relating to Arbor Realty Commercial Real Estate Notes 2017-FL1, Ltd. requiring action by you as the “Repurchase Request Recipient” with respect to such Repurchase Request); or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backupthereunder.” hard copy of such notice is also delivered on or prior to the second Business Day following receipt) Upon receipt of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) by the Trustee or Loan Obligation Manager pursuant to the Issuer and prior sentence, the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice CLO Servicer shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by be deemed to be the Repurchase Request Recipient in respect of such Repurchase Request or withdrawal of a Repurchase Request, as the case may be, and shall be responsible for complying with the procedures set forth in Section 3.01(c) of the Servicing Agreement with respect to such Repurchase Request. If the Trustee, the Issuer or the date any Loan Obligation Manager receives notice or has knowledge of a withdrawal of the a Repurchase Request is of which notice has been previously received by or given, and such notice was not received from or copied to the Repurchase Request RecipientCLO Servicer, then the Trustee or the Loan Obligation Manager on behalf of the Issuer, as applicable, (iii) if known by shall promptly give notice of such withdrawal to the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase RequestCLO Servicer.
Appears in 1 contract
Samples: Indenture (Arbor Realty Trust Inc)
Repurchase Requests. If the Servicer or the Special Servicer (i) receives a Repurchase Request, or such a Repurchase Request is forwarded to the Servicer or Special Servicer by a party to the Indenture in accordance with Section 7.17 of the Indenture (the Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase Request Recipient” with respect to such Repurchase Request); ) or (ii) receives any withdrawal of a Repurchase Request by the Person making such Repurchase Request, then the Repurchase Request Recipient shall deliver a notice (which may be by electronic format so long as a “backup” hard copy of such notice is also delivered on or prior to the second next Business Day following receiptDay) of such Repurchase Request or withdrawal of a Repurchase Request (each, a “15Ga-1 Notice”) to the Issuer and the Seller, in each case within ten (10) Business Days from such Repurchase Request Recipient’s receipt thereof. Each 15Ga-1 Notice shall include (i) the identity of the related Collateral Interest, (ii) the date the Repurchase Request is received by the Repurchase Request Recipient or the date any withdrawal of the Repurchase Request is received by the Repurchase Request Recipient, as applicable, (iii) if known by the Repurchase Request Recipient, the basis for the Repurchase Request (as asserted in the Repurchase Request) and (iv) a statement from the Repurchase Request Recipient as to whether it currently plans to pursue such Repurchase Request. A Repurchase Request Recipient shall not be required to provide any information in a 15Ga-1 Notice protected by the attorney client privilege or attorney work product doctrines. The Collateral Interest Purchase Agreement will provide that (i) any 15Ga-1 Notice provided pursuant to this Section 3.19 is so provided only to assist the Seller and Issuer or their respective Affiliates to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii) (A) no action taken by, or inaction of, a Repurchase Request Recipient and (B) no information provided pursuant to this Section 3.19 by a Repurchase Request Recipient, shall be deemed to constitute a waiver or defense to the exercise of any legal right the Repurchase Request Recipient may have with respect to the Collateral Interest Purchase Agreement, including with respect to any Repurchase Request that is the subject of a 15Ga-1 Notice.
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