Servicing Transfer Dates Sample Clauses

Servicing Transfer Dates. On each Servicing Transfer Date:
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Servicing Transfer Dates. The Interim Servicers will service the Mortgage Loans pursuant to the terms of the Interim Servicing Agreements during the related Interim Servicing Period. The Servicer shall not be obligated to perform any duties or responsibilities under this Agreement with respect to any Mortgage Loan until the servicing rights to such Mortgage Loan have been transferred to the Servicer on the related Servicing Transfer Date. The Servicer shall not be liable for any actions or inactions of any prior servicer of a Mortgage Loan prior to the related Servicing Transfer Date nor shall any action or inaction by a prior servicer be deemed an Event of Default with respect to the Servicer. The Servicer shall confirm that the Mortgage Loans on the Mortgage Loan Schedule have been transferred for servicing to the Servicer and shall notify the Depositor and the Trustee promptly following the completion of such transfer on the Final Servicing Transfer Date.
Sample 1
Servicing Transfer Dates. GreenPoint will service certain of the Mortgage Loans pursuant to the terms of this Agreement prior to the related Servicing Transfer Date. With respect to such Mortgage Loans, Ocwen shall not be obligated to perform any duties or responsibilities under this Agreement with respect to any Mortgage Loan until the servicing rights and related servicing files with respect to such Mortgage Loan have been transferred to Ocwen on the related Servicing Transfer Date. On the Servicing Transfer Date, Ocwen agrees to accept the servicing of the Mortgage Loans previously serviced by GreenPoint. Ocwen agrees to cooperate with GreenPoint to effectuate the timely transfer of servicing from GreenPoint to Ocwen on the related Servicing Transfer Date. Ocwen shall not be liable for any actions or inactions of any prior servicer of a Mortgage Loan prior to the related Servicing Transfer Date nor shall any action or inaction by a prior servicer be deemed an Event of Default with respect to Ocwen. Ocwen shall confirm that the Mortgage Loans on the Mortgage Loan Schedule have been transferred for servicing to Ocwen and shall notify the Depositor and the Trustee promptly following the completion of such transfer on the related Servicing Transfer Date.
Sample 1
Servicing Transfer Dates. The Interim Servicers will service the Mortgage Loans pursuant to the terms of the Interim Servicing Agreements during the related Interim Servicing Period. The Servicer shall not be obligated to perform any duties or responsibilities under this Agreement with respect to any Mortgage Loan until the servicing rights to such Mortgage Loan have been transferred to the Servicer on the related Servicing Transfer Date. On the Servicing Transfer Date, the Servicer agrees to accept the servicing of the Mortgage Loans previously serviced by the Interim Servicers. The Servicer agrees to cooperate with the Interim Servicer to effectuate the timely transfer of servicing from the Interim Servicers to the Servicer on the related Servicing Transfer Date. The Servicer shall not be liable for any actions or inactions of any prior servicer of a Mortgage Loan prior to the related Servicing Transfer Date nor shall any action or inaction by a prior servicer be deemed an Event of Default with respect to the Servicer. The Servicer shall confirm that the Mortgage Loans on the Mortgage Loan Schedule have been transferred for servicing to the Servicer and shall notify the Depositor, the Master Servicer, the Securities Administrator and the Trustee promptly following the completion of such transfer on the Final Servicing Transfer Date.
Sample 1
Servicing Transfer Dates. On each Servicing Transfer Date: (a) Purchaser shall assume responsibility for Servicing, and each Seller shall cease all Servicing activity related to the Mortgage Loans transferred on such Servicing Transfer Date, subject to the terms of the Transaction Documents; (b) Each Seller shall terminate all Subservicing Agreements and any other subservicing or servicing agreements related to the Servicing Agreements (other than the Servicing Agreements); (c) Each Seller shall provide Purchaser with a reasonable number of executed Powers of Attorney in the form attached hereto as Exhibit I to be used by Purchaser as necessary for Purchaser to service the applicable Mortgage Loans in accordance with Applicable Requirements; and (d) Purchaser and Seller shall execute a Transfer Confirmation with respect to the Servicing of the Mortgage Servicing Rights transferred on such Servicing Transfer Date, provided that the execution of such Transfer Confirmation may be deferred as reasonably necessary for the Purchaser and Seller to make a final determination of the Mortgage Servicing Rights and related Mortgage Loans subject thereto. Section 2.04
Sample 1

Related to Servicing Transfer Dates

  • Servicing Transfer In the event that a successor Master Servicer is appointed pursuant to the Pooling and Servicing Agreement, from and after the effective date of such transfer of servicing, the successor Master Servicer appointed pursuant to the Pooling and Servicing Agreement, and not the former Master Servicer, shall (a) be responsible for the performance of all servicing functions to be performed from and after such date, (b) agree to be bound by the terms, covenants and conditions contained herein applicable to the Master Servicer and be subject to the duties and obligations of the Master Servicer hereunder, and (c) agree to indemnify and hold harmless the Credit Enhancement Provider from and against any and all claims, damages, losses, liabilities, costs or expenses whatsoever which the Credit Enhancement Provider may incur (or which may be claimed against the Credit Enhancement Provider) by reason of the gross negligence or willful misconduct of the successor Master Servicer in exercising its powers and carrying out its obligations under the Pooling and Servicing Agreement and the Series Supplement. Such transfer of servicing shall not affect any rights or obligations of the former Master Servicer under this Agreement that arose prior to the effective date of the transfer of servicing, except that such former Master Servicer shall have no obligation to indemnify the Credit Enhancement Provider as a result of any act or failure to act of any successor Master Servicer in the performance of the servicing functions.

  • Servicing of the Mortgage Loans Section 3.01.

  • Servicing of the Mortgage Loan (a) Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from and after the Lead Securitization Date by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of any Note other than the Lead Securitization Note(s) if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing Agreement; provided, further, that, when appointed, the Special Servicer has the required Special Servicer Rating from each Rating Agency then rating a Securitization. Each Note Holder acknowledges that any other Note Holder may elect, in its sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section 26, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer and the Trustee under the Lead Securitization Servicing Agreement by the Depositor and the appointment of the Special Servicer by the Controlling Note Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights of such Note Holder set forth herein and in the Lead Securitization Servicing Agreement). The Lead Securitization Servicing Agreement shall not limit the Servicer in enforcing the rights of one Note Holder against any other Note Holder as may be required in order to service the Mortgage Loan as contemplated by this Agreement and the Lead Securitization Servicing Agreement; provided, that it is also understood and agreed that nothing in this sentence shall be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement (i) to service the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement and applicable law, (ii) to provide information to each servicer under each Non-Lead Securitization Servicing Agreement necessary to enable each such servicer to perform its servicing duties under such Non-Lead Securitization Servicing Agreement, and (iii) to not take any action or refrain from taking any action or follow any direction inconsistent with the foregoing.

  • Servicing Tape 32 Section 5.05 Satisfaction of Mortgages and Release of Mortgage Files.......32 Section 5.06 Annual Independent Public Accountants' Servicing Report.......33 ARTICLE VI

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