Common use of Seller Covenants Regarding Transfer of Servicing Clause in Contracts

Seller Covenants Regarding Transfer of Servicing. In the event a Servicing Termination Event occurs as described in clause (e)(vi) of the definition of Servicing Termination Event or Purchaser gives notice to Seller of Purchaser’s intention to transfer servicing to the Designated Servicer upon the occurrence of any other Servicing Termination Event, expiration or earlier termination of the Interim Servicing Period (“Servicing Transfer Date”), then, in each such case Seller agrees at its sole expense to take all reasonable and customary actions, to assist Purchaser, Custodian and Designated Servicer in effectuating and evidencing transfer of servicing to the Designated Servicer in compliance with applicable law on or before the Servicing Transfer Date, including:

Appears in 4 contracts

Samples: Mortgage Loan Participation Sale Agreement (loanDepot, Inc.), Mortgage Loan Participation Sale Agreement (loanDepot, Inc.), Participation Sale Agreement (loanDepot, Inc.)

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Seller Covenants Regarding Transfer of Servicing. In the event a Servicing Termination Event occurs as described in clause subclause (e)(vivi) of the definition of Servicing Termination Event or Purchaser gives notice to Seller of Purchaser’s intention to transfer servicing to the Designated Servicer upon the occurrence of any other Servicing Termination Event, expiration or earlier termination of the Interim Servicing Period (“Servicing Transfer Date”), then, in each such case Seller agrees at its sole expense to take all reasonable and customary actions, to assist Purchaser, Custodian and Designated Servicer in effectuating and evidencing transfer of servicing to the Designated Servicer in compliance with applicable law on or before the Servicing Transfer Date, including:

Appears in 3 contracts

Samples: Mortgage Loan Participation Sale Agreement (Home Point Capital Inc.), Participation Sale Agreement (Home Point Capital Inc.), Participation Sale Agreement (Home Point Capital Inc.)

Seller Covenants Regarding Transfer of Servicing. In the event a Servicing Servicer Termination Event occurs as described in clause subclause (e)(vivi) of the definition of Servicing Servicer Termination Event or Purchaser gives notice to Seller of Purchaser’s intention to transfer servicing to the Designated Servicer upon the occurrence of any other Servicing Servicer Termination Event, expiration or earlier termination of the Interim Servicing Period (“Servicing Transfer Date”), then, in each such case Seller agrees at its sole expense to take all reasonable and customary actions, to assist Purchaser, Custodian and Designated Servicer in effectuating and evidencing transfer of servicing to the Designated Servicer in compliance with applicable law on or before the Servicing Transfer Date, including:

Appears in 2 contracts

Samples: Participation Sale Agreement (Mr. Cooper Group Inc.), Mortgage Loan Participation Sale Agreement (Mr. Cooper Group Inc.)

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Seller Covenants Regarding Transfer of Servicing. LEGAL02/39826520v2 In the event a Servicing Termination Event occurs as described in clause (e)(vi) of the definition of Servicing Termination Event or Purchaser gives notice to Seller of Purchaser’s intention to transfer servicing to the Designated Servicer upon the occurrence of any other Servicing Termination Event, expiration or earlier termination of the Interim Servicing Period (“Servicing Transfer Date”), then, in each such case Seller agrees at its sole expense to take all reasonable and customary actions, to assist Purchaser, Custodian and Designated Servicer in effectuating and evidencing transfer of servicing to the Designated Servicer in compliance with applicable law on or before the Servicing Transfer Date, including:

Appears in 1 contract

Samples: Mortgage Loan Participation Sale Agreement (loanDepot, Inc.)

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