Common use of Servicing; Property Management Clause in Contracts

Servicing; Property Management. No Seller Party shall cause the Mortgage Loans or Contributed Assets to be serviced by any servicer or property manager, as applicable, other than a servicer or property manager, as applicable, expressly approved in writing by Buyer, which approval shall be deemed granted by Buyer with respect to Servicer and Property Manager, as applicable, with the execution of this Agreement.

Appears in 3 contracts

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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Servicing; Property Management. No Seller Party shall cause the Mortgage Loans or Contributed Assets to be serviced by any servicer or property manager, as applicable, other than a servicer or property manager, as applicable, expressly approved in writing by BuyerAdministrative Agent on behalf of Buyers, which approval shall be deemed granted by Buyer Administrative Agent on behalf of Buyers with respect to Servicer and Property Manager, as applicable, with the execution of this Agreement.

Appears in 2 contracts

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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