Common use of Servicing Contracts; Assets Clause in Contracts

Servicing Contracts; Assets. Lender shall have: (i) received the applicable Servicing Contract relating to any pledged Assets, which Lender shall have determined prior to making the first Loan Advance related to an Asset that relates to such Servicing Contract that such Servicing Contract is in form and substance satisfactory to Lender in its sole discretion; (ii) reviewed the applicable pool of Mortgage Loans serviced by Borrower pursuant to such Servicing Contracts, which pool shall be satisfactory to Lender in its sole discretion; (iii) if required by Lender, received a fully executed amendment to each Servicing Contract necessary to cause such Servicing Contract to satisfy requirements for an Eligible Securitization Transaction or an Eligible Asset, in form and substance satisfactory to Lender; (iv) received copies of all other consents and notices required under the related Servicing Contract and with respect to Agency Servicing Rights, the related Acknowledgement Agreement, each in form and substance satisfactory to Lender; (v) with respect to Loan Advances made in respect to Servicer Advances, received a report from Borrower indicating all Protective Advances that have been disbursed and all Delinquency Advances will be disbursed by Borrower into the certificate account under the related Servicing Contract, which report shall include backup setting forth the date, amount and federal reference number for each such disbursement; (vi) with respect to Loan Advances made in respect of Servicing Rights, the Borrower shall have delivered to the Lender the Borrower’s related pricing valuation on or prior to the date which is five Business Days prior to the requested Advance Date; Borrower shall promptly deliver to Lender any reports or documents ordered, created, prepared or reviewed in connection with such pricing valuations, whether such reports or documents are created or prepared by Borrower or a third party; provided, however, that it is understood that any such pricing valuation, report or document shall be reviewed by the Lender for the sole purpose of making credit decisions with respect to the related Loan Advance, and the Lender shall not use such information for any purpose other than making credit decisions with respect to the related Loan Advance; (vii) received an updated Servicing Appraisal in accordance with Section 6.28; and (viii) received a copy of the Participation Agreement, which Lender shall have determined, prior to making the first Loan Advance related to an Asset that relates to such Participation Agreement, is in form and substance satisfactory to Lender in its sole discretion.

Servicing Contracts; Assets. Lender shall have: (i) received the applicable Servicing Contract relating to any pledged Assets, which Lender shall have determined prior to making the first Loan Advance related to an Asset that relates to such Servicing Contract that such Servicing Contract is in form and substance satisfactory to Lender in its sole discretion; (ii) reviewed the applicable pool of Mortgage Loans serviced by Borrower pursuant to such Servicing Contracts, which pool shall be satisfactory to Lender in its sole discretion; (iii) if required by Lender, received a fully executed amendment to each Servicing Contract necessary to cause such Servicing Contract to satisfy requirements for an Eligible Securitization Transaction or an Eligible Asset, in form and substance satisfactory to Lender; (iv) received copies of all other consents and notices required under the related Servicing Contract and with respect to Agency Servicing Rights, the related Acknowledgement Agreement, each in form and substance satisfactory to Lender; (v) with respect to Loan Advances made in respect to Servicer Advances, received a report from Borrower indicating all Protective Advances that have been disbursed and all Delinquency Advances will be disbursed by Borrower into the certificate account under the related Servicing Contract, which report shall include backup setting forth the date, amount and federal reference number for each such disbursement; (vi) with respect to Loan Advances made in respect of Servicing Rights, the Borrower shall have delivered to the Lender the Borrower’s related pricing valuation on or prior to the date which is five Business Days prior to the requested Advance Date; Borrower shall promptly deliver to Lender any reports or documents ordered, created, prepared or reviewed in connection with such pricing valuations, whether such reports or documents are created or prepared by Borrower or a third party; provided, however, that it is understood that any such pricing valuation, report or document shall be reviewed by the Lender for the sole purpose of making credit decisions with respect to the related Loan Advance, and the Lender shall not use such information for any purpose other than making credit decisions with respect to the related Loan Advance;; and (vii) received an updated Servicing Appraisal in accordance with Section 6.28; and (viii) received a copy of the Participation Agreement, which Lender shall have determined, prior to making the first Loan Advance related to an Asset that relates to such Participation Agreement, is in form and substance satisfactory to Lender in its sole discretion.

Servicing Contracts; Assets. Lender Buyer shall have: (i) received the applicable Servicing Contract relating to any pledged Purchased Assets, which Lender Buyer shall have determined prior to making financing the first Loan Advance related to an Asset that relates to such Servicing Contract that such Servicing Contract is in form and substance satisfactory to Lender Buyer in its sole discretion; (ii) reviewed the applicable pool of Mortgage Loans serviced by Borrower Seller pursuant to such Servicing Contracts, which pool shall be satisfactory to Lender Buyer in its sole discretion; (iii) if required by LenderBuyer, received a fully executed amendment to each Servicing Contract necessary to cause such Servicing Contract to satisfy requirements for an Eligible Securitization Transaction or an Eligible Asset, in form and substance satisfactory to LenderBuyer; (iv) received copies of all other consents and notices required under the related Servicing Contract and with respect to Agency Servicing Rights, the related Acknowledgement Agreement, each in form and substance satisfactory to LenderBuyer; (v) with respect to Loan Advances made Transactions entered into in respect to Servicer Advances, received a report from Borrower Seller indicating all Protective Advances that have been disbursed and all Delinquency Advances will be disbursed by Borrower Seller into the certificate account under the related Servicing Contract, which report shall include backup setting forth the date, amount and federal reference number for each such disbursement; (vi) with respect to Loan Advances made Transactions entered into in respect of Servicing Rights, the Borrower Seller shall have delivered to the Lender Buyer the BorrowerSeller’s related pricing valuation on or prior to the date which is five Business Days prior to the requested Advance Purchase Date; Borrower Seller shall promptly deliver to Lender Buyer any reports or documents ordered, created, prepared or reviewed in connection with such pricing valuations, whether such reports or documents are created or prepared by Borrower Seller or a third party; provided, however, that it is understood that any such pricing valuation, report or document shall be reviewed by the Lender Buyer for the sole purpose of making credit decisions with respect to the related Loan AdvanceTransaction, and the Lender Buyer shall not use such information for any purpose other than making credit decisions with respect to the related Loan AdvanceTransaction; (vii) received an updated Servicing Appraisal in accordance with Section 6.28; and (viii) received a copy of the Participation Agreement, which Lender Buyer shall have determined, prior to making entering into the first Loan Advance Transaction related to an Asset that relates to such Participation Agreement, is in form and substance satisfactory to Lender Buyer in its sole discretion. Notwithstanding the requirements set forth in Section 5.02(g)(iv) hereof, the Buyer hereby agrees to enter into Transactions with Seller with respect to the Agency Servicing Rights that are related to Xxxxxx Xxx (“Xxxxxx Xxx Servicing Rights”). Any failure to repay the Purchase Price with respect to the Xxxxxx Mae Servicing Rights in accordance with this section shall result in an immediate Event of Default.

Servicing Contracts; Assets. Lender Administrative Agent shall have: (i) received the applicable Servicing Contract relating to any pledged Purchased Assets, which Lender Administrative Agent shall have determined prior to making the first Loan Advance Transaction related to an Asset that relates to such Servicing Contract that such Servicing Contract is in form and substance satisfactory to Lender Administrative Agent in its sole good faith discretion; (ii) reviewed the applicable pool of Mortgage Loans serviced by Borrower Seller pursuant to such Servicing Contracts, which pool shall be satisfactory to Lender Administrative Agent in its sole good faith discretion; (iii) if required by LenderAdministrative Agent, received a fully executed amendment to each Servicing Contract necessary to cause such Servicing Contract to satisfy requirements for an Eligible Securitization Transaction or an Eligible Asset, as applicable, in form and substance satisfactory to LenderAdministrative Agent in its sole good faith discretion; (iv) received copies of all other consents and notices required under the related Servicing Contract and with respect to Agency Servicing Rights, the related Acknowledgement Acknowledgment Agreement, each in form and substance satisfactory to LenderAdministrative Agent in its sole good faith discretion; (v) with respect to Loan Advances Transactions made in respect to Servicer AdvancesAssets, received a report from Borrower Seller indicating all Protective Advances that have been disbursed and all Delinquency Advances will be disbursed by Borrower Seller into the certificate account designated under the related Servicing Contract, which report shall include backup setting forth the date, amount and federal reference number for each such disbursement; (vi) with respect to Loan Advances made Transactions entered into in respect of Servicing Rights, the Borrower Seller shall have delivered to the Lender Administrative Agent the BorrowerSeller’s related pricing valuation model on or prior to the date which is five three (3) Business Days prior to the requested Advance Purchase Date; Borrower shall promptly deliver to Lender any reports or documents ordered, created, prepared or reviewed in connection with such pricing valuations, whether such reports or documents are created or prepared by Borrower or a third party; provided, however, that it is understood that any such pricing valuation, report or document shall be reviewed by the Lender for the sole purpose of making credit decisions with respect to the related Loan Advance, and the Lender shall not use such information for any purpose other than making credit decisions with respect to the related Loan Advance; (vii) received a copy of the Participation Agreement, which Administrative Agent shall have determined prior to entering into the first Transaction related to an Asset that relates to such Participation Agreement that such Participation Agreement is in form and substance satisfactory to Administrative Agent in its sole discretion; and (viii) received an updated Servicing Appraisal in accordance with Section 6.28; and (viii) received a copy of the Participation Agreement, which Lender shall have determined, prior to making the first Loan Advance related to an Asset that relates to such Participation Agreement, is in form and substance satisfactory to Lender in its sole discretion6.24.