Common use of Servicing Records Clause in Contracts

Servicing Records. The Seller agrees that the Buyer 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 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 the Buyer as the owner thereof. Upon notice from the Buyer after the occurrence and during the continuance of an Event of Default, the Seller will cause Servicer and each Subservicer to (a) designate the Buyer as the owner of each Purchased Loan in its collateral tracking system, (b) 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, (c) safeguard such Servicing Records and (d) deliver them promptly to the Buyer or its designee at the Buyer’s request.

Servicing Records. The Seller agrees that Agent, on behalf of the Buyer 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 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 the Buyer Agent as the owner thereofthereof on behalf of the Buyers. Upon notice from the Buyer Agent after the occurrence and during the continuance of an Event of Default, the Seller will cause Servicer and each Subservicer to (ai) designate the Buyer Buyers as the owner of each Purchased Loan in its collateral tracking system, (bii) 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, (ciii) safeguard such Servicing Records and (div) deliver them promptly to the Buyer Agent or its designee (including Custodian) at the BuyerAgent’s request.

Servicing Records. The Seller agrees that Agent, on behalf of the Buyer 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 Purchased Mortgage 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 the Buyer Agent as the owner thereofthereof on behalf of the Buyers. Upon notice from the Buyer Agent after the occurrence and during the continuance of an Event of Default, the Seller will cause Servicer and each Subservicer to (ai) designate the Buyer Buyers as the owner of each Purchased Loan in its collateral tracking system, (bii) 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, (ciii) safeguard such Servicing Records and (div) deliver them promptly to the Buyer Agent or its designee (including Custodian) at the BuyerAgent’s request.

Servicing Records. The Seller agrees that Agent, on behalf of the Buyer 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 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 the Buyer Agent as the owner thereofthereof on behalf of the Buyers. Upon notice from the Buyer after the occurrence and during the continuance termination of an Event of DefaultSeller’s rights as Servicer pursuant to Section 19.7, the Seller will cause Servicer and each Subservicer to (ai) designate the Buyer Buyers as the owner of each Purchased Loan in its collateral tracking system, (bii) 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, (ciii) safeguard such Servicing Records and (div) deliver them promptly to the Buyer Agent or its designee (including Custodian) at the BuyerAgent’s request.