Common use of Telephone Lines Clause in Contracts

Telephone Lines. (A) PMC shall provide to the Brand Franchisees dedicated and exclusive toll-free telephone lines established and operated at the expense of and by PMC (“Franchisee Telephone Lines”), which PMC reasonably believes are adequate to meet the reasonably anticipated needs of the current and prospective Franchisee Customers. (B) Trained PMC personnel shall answer Franchisee Telephone Lines in the name of the appropriate Cendant Real Estate Franchisee Brand; provided, however, that the Telephone Lines dedicated to the Brand Franchisees operating under a Cendant Restricted Brand shall be answered in the name of “PHH Mortgage.” Such personnel shall explain to the Franchisee Customer, as appropriate: (a) the procedure to be followed in obtaining a Mortgage Loan; (b) the various Mortgage Loan Types available and their associated Mortgage Loan Pricing; and (c) their short- and long-term financial implications. Such personnel shall provide counsel and advice to the Franchisee Customer as to the Mortgage Loan Types that might best serve the Franchisee Customer’s needs, including answering any questions the Franchisee Customer might have regarding the process. (C) PMC shall provide each Franchisee Customer who utilizes the Franchisee Telephone Lines with a same day Pre-Approval Decision and Guarantee. A “same day” Pre-Approval Decision and Guarantee means that PMC will provide the Franchisee Customer with a Pre-Approval Decision during the same day the Franchisee Customer provided PMC with the information requested from the Franchisee Customer for purposes of making a Pre-Approval Decision for that Franchisee Customer or, if PMC does not provide the Franchisee Customer with such Pre-Approval Decision, PMC will promptly pay the Customer the Guarantee Amount. The Brand Franchisees shall have the right to publicize and advertise to their customers the availability of such Pre-Approval Decisions and Guarantees in accordance with all Mortgage Lending Laws. (D) PMC will provide to Franchisee Customers for whom it has made a Pre-Approval Decision and which Franchisee Customer is likely to be approved for a Mortgage Loan information tailored to the Franchisee Customer’s individual circumstances. Such information will be designed to enable the Franchisee Customer to determine the nature of the Mortgage Loan the Franchisee Customer may qualify for if an appropriate property securing the Mortgage Loan is identified and all information submitted is verified.

Telephone Lines. (A) PMC The Company shall provide to the Brand Franchisees Cendant Owned Real Estate Offices, Cendant Mobility Offices and participants in the Cendant Real Estate Services Division’s Premier Agent Program, dedicated and exclusive toll-free telephone lines established and operated at the expense of and by PMC the Company (“Franchisee Telephone Lines”), which PMC the Company reasonably believes are adequate to meet the reasonably anticipated needs of the current and prospective Franchisee Customers. (B) Trained PMC Company personnel shall answer Franchisee Telephone Lines in the name of (i) the appropriate Cendant Owned Real Estate Franchisee BrandOffices Tradename, if such Telephone Line has been assigned to a Cendant Owned Real Estate Office; provided, however, that the Telephone Lines dedicated to the Brand Franchisees a Cendant Owned Real Estate Office operating under a Cendant Restricted Brand shall be answered in the name of “PHH Mortgage.Home Loans,” (ii) “PHH Home Loans,” if such Telephone Line has been assigned to a Cendant Mobility Office, (iii) the appropriate Small Corps entity, if such Telephone Line has been assigned to the Point of Sale Origination Channel, or (iv) the appropriate Cendant Owned Real Estate Offices Tradename, if such Telephone Line has been assigned to the Premier Agent Program, as the case may be. Such personnel shall explain to the Franchisee Customer, as appropriate: (a) the procedure to be followed in obtaining a Mortgage Loan; (b) the various Mortgage Loan Types available and their associated Mortgage Loan Pricing; and (c) their short- and long-term financial implications. Such personnel shall provide counsel and advice to the Franchisee Customer as to the Mortgage Loan Types that might best serve the Franchisee Customer’s needs, including answering any questions the Franchisee Customer might have regarding the process. (C) PMC The Company shall provide each Franchisee Customer who utilizes the Franchisee Telephone Lines with a same day Pre-Approval Decision and Guarantee. A “same day” Pre-Approval Decision and Guarantee means that PMC the Company will provide the Franchisee Customer with a Pre-Approval Decision during the same day the Franchisee Customer provided PMC the Company with the information requested from the Franchisee Customer for purposes of making a Pre-Approval Decision for that Franchisee Customer or, if PMC the Company does not provide the Franchisee Customer with such a Pre-Approval Decision, PMC the Company will promptly pay the Customer the Guarantee AmountAmount (a “Customer Payment”). The Brand Franchisees Cendant Entities and their respective Subsidiaries shall have the right to publicize and advertise to their customers the availability of such Pre-Approval Decisions and Guarantees in accordance with all Mortgage Lending Laws. (D) PMC will provide to Franchisee Customers for whom it has made a Pre-Approval Decision and which Franchisee Customer is likely to be approved for a Mortgage Loan information tailored . For purposes of this Agreement, the “Guarantee Amount” shall mean an amount equal to the Franchisee Customer’s individual circumstances. Such information will higher of (a) $250 and (b) such other amount as may be designed offered by PMC or any Affiliate thereof to enable the Franchisee Customer to determine the nature customers under a similar program (exclusive of the Mortgage Loan the Franchisee Customer may qualify for if an appropriate property securing the Mortgage Loan is identified and all information submitted is verifiedclient subsidized programs).

Telephone Lines. (AIt is the express intention of SAFE and Seller that all RMR Accounts conveyed to SAFE hereunder shall be communicating on, or shall be transferred to, a telephone line(s) PMC owned and controlled by SAFE. SAFE shall provide assume, as an assignee, and Seller shall assign to the Brand Franchisees dedicated and exclusive toll-free SAFE all of Seller's rights to existing telephone lines established owned by Seller (i) on the Closing Date, where such telephone lines are used solely by RMR Accounts to be conveyed to SAFE hereunder on the Closing Date (which telephone lines and operated at the expense of and by PMC (“Franchisee Telephone Lines”RMR Accounts are identified on Schedule 5A), and (ii) on the Closing Date, where more than 50% of the RMR Accounts communicating on such telephone lines are being conveyed to SAFE on the Closing Date (which PMC reasonably believes telephone lines and RMR Accounts are adequate identified on Schedule 5B), and during the 12 month period following the Closing Date, Seller shall, at Seller's cost and expense, reprogram all RMR Accounts using such telephone line(s) but not conveyed to meet SAFE to a non-SAFE owned telephone line. If notwithstanding the reasonably anticipated needs best efforts of Seller, the necessary phone company filings necessary to document the assignment of any telephone lines described in clauses (i) and (ii) cannot be completed by the Closing Date, Seller shall use its best efforts to complete such filings promptly following the Closing Date. Where 50% or less of the RMR Accounts communicating on telephone lines owned by Seller are not being conveyed to SAFE on the Closing Date (which telephone lines and RMR Accounts are identified on Schedule 5C), or where RMR Accounts being conveyed to SAFE are not communicating on telephone lines owned by Seller (which telephone lines and RMR Accounts are identified on Schedule 5D), (i) Seller shall promptly initiate action at Seller's expense to reprogram, during the 12 month period following the Closing Date, the RMR Accounts conveyed to SAFE to a new telephone line(s) owned by SAFE, and (ii) documents necessary to convey ownership of the current telephone lines to SAFE shall be signed by the parties and prospective Franchisee Customers. placed into a mutually acceptable escrow (B) Trained PMC personnel at Seller's cost), and such ownership transfer to SAFE shall answer Franchisee Telephone Lines in be effected no later than the name expiration of the appropriate Cendant Real Estate Franchisee Brand; provided, however, that 12 month period following the Telephone Lines dedicated Closing Date if or to the Brand Franchisees operating under extent that any RMR Accounts conveyed to SAFE shall not have been reprogrammed to such new SAFE owned telephone lines, and during the 12 month period following the Closing Date, and if any ownership of any such current telephone lines are conveyed to SAFE, Seller shall, at Seller's cost and expense, reprogram all RMR Accounts not conveyed to SAFE on such current telephone lines to a Cendant Restricted Brand non-SAFE owned telephone line. If Seller shall not perform any such reprogramming as required, SAFE may SAFE may engage another security alarm company to effect such reprogramming and Seller shall pay all costs associated therewith, including without limitation, removal and reprogramming costs. In addition, Seller shall be answered in the name responsible for a pro-rata share of “PHH Mortgage.” Such personnel shall explain to the Franchisee Customer, as appropriate: (a) the procedure to be followed in obtaining a Mortgage Loan; (b) the various Mortgage Loan Types available and their associated Mortgage Loan Pricing; and (c) their short- and long-term financial implications. Such personnel shall provide counsel and advice to the Franchisee Customer as to the Mortgage Loan Types that might best serve the Franchisee Customer’s needsany general line charges, including answering taxes and any questions assessments, so long as any non-purchased accounts remain on SAFE's owned telephone lines. During the Franchisee Customer might have regarding the processtwelve (12) month period, SAFE shall pay its pro rata share of any line charges. (C) PMC shall provide each Franchisee Customer who utilizes the Franchisee Telephone Lines with a same day Pre-Approval Decision and Guarantee. A “same day” Pre-Approval Decision and Guarantee means that PMC will provide the Franchisee Customer with a Pre-Approval Decision during the same day the Franchisee Customer provided PMC with the information requested from the Franchisee Customer for purposes of making a Pre-Approval Decision for that Franchisee Customer or, if PMC does not provide the Franchisee Customer with such Pre-Approval Decision, PMC will promptly pay the Customer the Guarantee Amount. The Brand Franchisees shall have the right to publicize and advertise to their customers the availability of such Pre-Approval Decisions and Guarantees in accordance with all Mortgage Lending Laws. (D) PMC will provide to Franchisee Customers for whom it has made a Pre-Approval Decision and which Franchisee Customer is likely to be approved for a Mortgage Loan information tailored to the Franchisee Customer’s individual circumstances. Such information will be designed to enable the Franchisee Customer to determine the nature of the Mortgage Loan the Franchisee Customer may qualify for if an appropriate property securing the Mortgage Loan is identified and all information submitted is verified.