Servicing Transfer Event Sample Clauses
A Servicing Transfer Event clause defines the circumstances under which the responsibility for servicing a loan or portfolio of loans is transferred from one servicer to another. This clause typically outlines the triggers for such a transfer, such as a servicer default, failure to meet performance standards, or at the direction of a governing party. It also details the process for notifying relevant parties and the obligations of both the outgoing and incoming servicers during the transition. The core function of this clause is to ensure continuity and proper management of loan servicing, minimizing disruption and protecting the interests of borrowers and investors in the event of a servicing change.
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Servicing Transfer Event. All notices to the Rating Agencies shall be in writing and sent by first class mail, telecopy or overnight courier, as follows: If to S&P, to: Standard & Poor's Ratings Services ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: CMBS Surveillance Manager Fax: (▇▇▇) ▇▇▇-▇▇▇▇ If to Fitch, to: Fitch, Inc. ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: Commercial Mortgage Surveillance Fax: (▇▇▇) ▇▇▇-▇▇▇▇ If to any other Rating Agency, at such address as shall be provided in writing to the Depositor by such Rating Agency.
Servicing Transfer Event. 38 SouthTrust . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Servicing Transfer Event. 44 Six-Month LIBOR (Formula 1) ............................................... 44
Servicing Transfer Event. All notices to the Rating Agencies shall be in writing and sent by first class mail, telecopy or overnight courier, as follows: If to S&P, to: Standard & Poor's Ratings Services ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: CMBS Surveillance Manager Fax: (▇▇▇) ▇▇▇-▇▇▇▇ If to Fitch, to: Fitch, Inc. ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: Commercial Mortgage Surveillance Fax: (▇▇▇) ▇▇▇-▇▇▇▇ If to any other Rating Agency, at such address as shall be provided in writing to the Depositor by such Rating Agency.