Common use of Special Reporting Clause in Contracts

Special Reporting. With respect to each Mortgage Loan, following the related Servicing Transfer Date, the Purchaser shall use reasonable efforts to furnish to the Seller within a reasonable timeframe a loan level electronic tape (in a form reasonably acceptable to the Seller) containing such data fields and elements requested by the Seller and reasonably available to the Purchaser (whether maintained by the Purchaser or any successor servicer to the Seller), to monitor such repurchased Mortgage Loans for quality control purposes and to complete such reports with respect to such repurchased Mortgage Loans as may be necessary to comply with OCC, regulatory, and community obligations of the Seller and its Affiliates. The Seller shall provide defined data requirements and will bear, at its sole expense, any additional programming needed for the Purchaser to produce and compile data or reports as may be mutually agreed upon by the Purchaser and the Seller. Upon the Seller's reasonable request and at the Seller's expense, the Purchaser shall also use reasonable efforts to prepare and furnish (or cause any successor servicer to the Interim Servicer to prepare and furnish) to the Seller the delinquency reports and other reports requested by the Seller as set forth above. If applicable law now, or at any time in the future, limits the ability of the Purchaser to provide the tape or any specific data to the Seller, the Purchaser shall cooperate with the Seller to investigate whether alternate methods for providing such information to the Seller are available. The parties hereto agree that the inability of the Purchaser to provide any of the data, reports or other information requested by the Seller pursuant to this Section shall in no event constitute a breach of the terms of this Agreement or give rise to any cause of action in favor of the Seller against the Purchaser in connection with such inability.

Appears in 7 contracts

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar), Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax), Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)

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Special Reporting. With respect to each Mortgage Loan, following the related Servicing Transfer Date, the Purchaser shall use reasonable efforts to furnish to the Seller within a reasonable timeframe a loan level electronic tape (in a form reasonably acceptable to the Seller) containing such data fields and elements requested by the Seller and reasonably available to the Purchaser (whether maintained by the Purchaser or any successor servicer to the Seller), to monitor such repurchased Mortgage Loans for quality control purposes and to complete such reports with respect to such repurchased Mortgage Loans as may be necessary to comply with OCC, regulatory, and community obligations of the Seller and its Affiliates. The Seller shall provide defined data requirements and will bear, at its sole expense, any additional programming needed for the Purchaser to produce and compile data or reports as may be mutually agreed upon by the Purchaser and the Seller. Upon the Seller's ’s reasonable request and at the Seller's ’s expense, the Purchaser shall also use reasonable efforts to prepare and furnish (or cause any successor servicer to the Interim Servicer to prepare and furnish) to the Seller the delinquency reports and other reports requested by the Seller as set forth above. If applicable law now, or at any time in the future, limits the ability of the Purchaser to provide the tape or any specific data to the Seller, the Purchaser shall cooperate with the Seller to investigate whether alternate methods for providing such information to the Seller are available. The parties hereto agree that the inability of the Purchaser to provide any of the data, reports or other information requested by the Seller pursuant to this Section shall in no event constitute a breach of the terms of this Agreement or give rise to any cause of action in favor of the Seller against the Purchaser in connection with such inability.

Appears in 2 contracts

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar)

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Special Reporting. With respect to each Mortgage Loan, following the related Servicing Transfer Date, the Purchaser shall use reasonable efforts to furnish to the Seller within a reasonable timeframe a loan level electronic tape (in a form reasonably acceptable to the Seller) containing such data fields and elements requested by the Seller and reasonably available to the Purchaser (whether maintained by the Purchaser or any successor servicer to the Seller), to monitor such repurchased Mortgage Loans for quality control purposes and to complete such reports with respect to such repurchased Mortgage Loans as may be necessary to comply with OCC, regulatory, and community obligations of the Seller and its Affiliates. The Seller shall provide defined data requirements and will bear, at its sole expense, any additional programming needed for the Purchaser to produce and compile data or reports as may be mutually agreed upon by the Purchaser and the Seller. Upon the Seller's ’s reasonable request and at the Seller's ’s expense, the Purchaser shall also use reasonable efforts to prepare and furnish (or cause any successor servicer to the Interim Servicer to prepare and furnish) to the Seller the delinquency reports and other reports requested by the Seller as set forth above. If applicable law now, or at any time in the future, limits the ability of the Purchaser to provide the tape or any specific data to the Seller, the Purchaser shall cooperate with the Seller to investigate whether alternate methods for providing such information to the Seller are available. The parties hereto agree that the inability of the Purchaser to provide any of the data, reports or other information requested by the Seller pursuant to this Section shall in no event constitute a breach of the terms of this Agreement or give rise to any cause of action in favor of the Seller against the Purchaser in connection with such inability. Exhibit A-1 Contents of Mortgage File With respect to each Mortgage Loan, the Mortgage File shall include each of the following items, which shall be available for inspection by the Purchaser, and which shall be retained by the Seller in the Servicing File or delivered to the Purchaser or its designee pursuant to Section 2.04 of the First Amended and Restated Seller’s Purchase, Warranties and Interim Servicing Agreement.

Appears in 1 contract

Samples: And Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar)

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