Common use of Transfer Notices Clause in Contracts

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing.