Common use of Third Party Servicers Clause in Contracts

Third Party Servicers. As of the Closing Date, the Representative and the Transferors have represented to the Transferees that the Mortgage Loans are serviced by the Servicer or the Transferors and are not subject to servicing agreements with third parties. It is understood and agreed between the Representative and the Transferors and the Transferees that the Mortgage Loans which are the subject of this Agreement are to be delivered free and clear of any servicing agreements with third party servicers. The Representative and the Transferor, without reimbursement from the Transferees, shall pay any fees or penalties required by any third party servicer for releasing the Mortgage Loans from any such servicing agreement and shall arrange for the orderly transfer of such servicing from any such third party servicer to the Transferees.

Third Party Servicers. As of the Closing Date, the Representative and the Transferors have Transferor has represented to the Transferees Transferee that the Mortgage Loans are serviced by the Initial Servicer or the Transferors and are not subject to servicing agreements with third parties. It is understood and agreed between the Representative Transferor and the Transferors and the Transferees Transferee that the Mortgage Loans which are the subject of this Agreement are to be delivered free and clear of any servicing agreements with third party servicersservicers (other than the Expected Successor Servicer). The Representative and the Transferor, without reimbursement from the TransfereesTransferee, shall pay any fees or penalties required by any third party servicer for releasing the Mortgage Loans from any such servicing agreement and shall arrange for the orderly transfer of such servicing from any such third party servicer to the TransfereesTransferee.

Third Party Servicers. As of the Closing Date, the Representative and the Transferors have Transferor has represented to the Transferees Transferee that the Mortgage Loans are serviced by the Initial Servicer or the Transferors and are not subject to servicing agreements with third parties. It is understood and agreed between the Representative Transferor and the Transferors and the Transferees Transferee that the Mortgage Loans which are the subject of this Agreement are to be delivered free and clear of any servicing agreements with third party servicersservicers (other than the Successor Servicer). The Representative and the Transferor, without reimbursement from the TransfereesTransferee, shall pay any fees or penalties required by any third party servicer for releasing the Mortgage Loans from any such servicing agreement and shall arrange for the orderly transfer of such servicing from any such third party servicer to the TransfereesTransferee.