Servicing Post Closing Date Sample Clauses

Servicing Post Closing Date. The Assigned Loans shall be sold on a servicing-released basis (and without limitation, any related escrow deposits shall be transferred to Buyer). As of the Closing Date, all rights, obligations, liabilities and responsibilities with respect to the servicing of the Assigned Loans after the Closing Date will be assumed by Buyer. Buyer shall thereafter service the Assigned Loans in a reasonable manner and in accordance with industry standards. Seller shall be discharged and indemnified by Buyer from all claims, liability reasonable expense with respect to servicing of the Assigned Loans after the Closing and Buyer shall not assume and shall be discharged and indemnified by Seller from all claims, liability and reasonable expense with respect to servicing of the Assigned Loans on or prior to the Closing.

Servicing Post Closing Date. The Loans shall be sold on a servicing-released basis (and without limitation, any related escrow deposits shall be transferred to Buyer). As of the Closing Date, all rights, obligations, liabilities and responsibilities with respect to the servicing of the Loans after the Closing Date (other than any obligations, liabilities or responsibilities with respect to the sold portion of any SBA-guaranteed loans sold by Seller on or before the Closing Date that are “put-back” to Seller after the Closing Date) will be assumed by Buyer; provided, however, that in no event shall Buyer be deemed to have assumed any obligation that Seller might have to service any Sold Loans. Seller shall be discharged and indemnified by Buyer from all liability with respect to servicing of the Loans after the Closing and Buyer shall not assume and shall be discharged and indemnified by Seller from all liability with respect to servicing of the Loans on or prior to the Closing.