Common use of Servicing Records Clause in Contracts

Servicing Records. Seller agrees that Administrative Agent, on behalf of the Buyers, is the owner of all servicing records, including but not limited to any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance or guaranty coverage, insurance or guaranty policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of Mortgage Loans (the “Servicing Records”). The Servicing Records are and shall be held in trust by Seller, Servicer and each Subservicer for the benefit of Administrative Agent as the owner thereof on behalf of the Buyers. Upon notice from Administrative Agent after the occurrence and during the continuance of an Event of Default, Seller will cause each Servicer and Subservicer to (i) designate Buyers as the purchaser of each Purchased Loan in its collateral tracking system, (ii) segregate such Servicing Records from any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of assets that are not Purchased Loans, (iii) safeguard such Servicing Records and (iv) deliver them promptly to Administrative Agent or its designee (including Custodian) at Administrative Agent’s request.

Servicing Records. The Seller agrees that Administrative the Agent, on behalf of the Buyers, is the owner of all servicing records, including but not limited to any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance or guaranty coverage, insurance or guaranty policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of Mortgage Purchased Loans (the “Servicing Records”). The Servicing Records are and shall be held in trust by the Seller, Servicer and each Subservicer for the benefit of Administrative the Agent as the owner thereof on behalf of the Buyers. Upon notice from Administrative the Agent after the occurrence and during the continuance of an Event of Default, the Seller will cause each Servicer and each Subservicer to (ia) designate the Buyers as the purchaser owner of each Purchased Loan in its collateral tracking system, (iib) segregate such Servicing Records from any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of assets that are not Purchased Loans, (iiic) safeguard such Servicing Records and (ivd) deliver them promptly to Administrative the Agent or its designee (including the Custodian) at Administrative the Agent’s request.

Servicing Records. The Seller agrees that Administrative the Agent, on behalf of the Buyers, is the owner of all servicing records, including but not limited to any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance or guaranty coverage, insurance or guaranty policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of Mortgage Purchased Loans (the “Servicing Records”). The Servicing Records are and shall be held in trust by the Seller, Servicer and each Subservicer for the benefit of Administrative the Agent as the owner thereof on behalf of the Buyers. Upon notice from Administrative the Agent after the occurrence and during the continuance of an Event of Default, the Seller will cause each Servicer and each Subservicer to (ia) designate the Buyers as the purchaser owner of each Purchased Loan in its collateral tracking system, (iib) segregate such Servicing Records from any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of assets that are not Purchased Loans, (iiic) safeguard such Servicing Records and (ivd) deliver them promptly to Administrative the Agent or its designee (including Custodian) at Administrative the Agent’s request.

Servicing Records. The Seller agrees that Administrative the Agent, on behalf of the Buyers, is the owner of all servicing records, including but not limited to any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance or guaranty coverage, insurance or guaranty policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of Mortgage Purchased Loans (the “Servicing Records”). The Servicing Records are and shall be held in trust by the Seller, Servicer and each Subservicer for the benefit of Administrative the Agent as the owner thereof on behalf of the Buyers. Upon notice from Administrative the Agent after the occurrence and during the continuance of an Event of Default, the Seller will cause each Servicer and each Subservicer to (ia) designate the Buyers as the purchaser owner of each Purchased Loan in its collateral tracking system, (iib) segregate such Servicing Records from any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of assets that are not Purchased Loans, (iiic) safeguard such Servicing Records and (ivd) deliver them promptly to Administrative the Agent or its designee (including the Custodian) at Administrative the Agent’s request. 19.6.