Servicing Agreement Side Letter Clause Samples
Servicing Agreement Side Letter. On or prior to the Servicing Transfer Date, Borrower, Lender and each Servicer shall enter into a Servicing Agreement Side Letter, in such form that is acceptable to Lender that, at a minimum, includes (a) an agreement by such Servicer to remit all collections it receives in respect of the Pledged Mortgage Loans directly to the Custodial Account, and (b) an agreement by such Servicer to comply exclusively with Lender’s instructions with respect to the Pledged Mortgage Loans and collections thereon upon receipt of a notice that an Event of Default has occurred.
Servicing Agreement Side Letter. (i) Servicing Agreement Side Letter, dated as of the date hereof, by and among Lender, Borrower and PHH Mortgage Corporation and (ii) Subservicing Agreement Side Letter, dated as of the date hereof, by and among Lender, Borrower and PHH Mortgage Corporation, and in each case, all amendments, modifications and supplements thereto.