Common use of Subservicer Acknowledgement Letter Clause in Contracts

Subservicer Acknowledgement Letter. The Borrowers shall cause the Subservicer to acknowledge the Lender’s rights hereunder and agree to follow all instructions of Lender upon the occurrence of a default hereunder, which side letter shall be acceptable to Lender in form and substance (each such side letter, a “Subservicer Acknowledgment Letter”) and prior to permitting any other subservicer to service any Mortgage Loans related to the Eligible Servicing Rights pledged hereunder, the Borrowers shall cause such subservicer to become a party to a Subservicer Acknowledgment Letter.

Subservicer Acknowledgement Letter. The Borrowers shall cause the Subservicer to acknowledge the Lender’s rights hereunder and agree to follow all instructions of Lender upon the occurrence of a default hereunder, which side letter shall be acceptable to Lender in form and substance (each such side letter, a “Subservicer Acknowledgment Acknowledgement Letter”) and prior to permitting any other subservicer to service any Mortgage Loans related to the Eligible Servicing Rights pledged hereunder, the Borrowers shall cause such subservicer to become a party to a Subservicer Acknowledgment Letter.

Subservicer Acknowledgement Letter. The Borrowers Borrower shall cause the Subservicer to acknowledge the Lender’s rights hereunder and agree to follow all instructions of Lender upon the occurrence of a default hereunder, which side letter shall be acceptable to Lender in form and substance (each such side letter, a “Subservicer Acknowledgment Acknowledgement Letter”) and prior to permitting any other subservicer to service any Mortgage Loans related to the Eligible Servicing Rights pledged hereunder, the Borrowers Borrower shall cause such subservicer to become a party to a Subservicer Acknowledgment Letter.