Upon notice to the Servicer by the Trustee. of the initiation of the auction, the Servicer will initiate the general auction procedures consisting of the following: (i) prepare a general solicitation package along with a confidentiality agreement; (ii) derive a list of a minimum of three (3) bidders, each of whom shall be a nationally recognized participant in mortgage finance, (iii) initiate contact with all bidders, (iv) send a confidentiality agreement to all bidders, and (v) upon receipt of a signed confidentiality agreement, send bid solicitation package to all bidders.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust, Series 2004-Bc4), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (Specialty Underwriting & Residental Finance Trust, Series 2004-Aa1)
Upon notice to the Servicer by the Trustee. of the initiation of the auction, the Servicer will initiate the general auction procedures consisting of the following: (i) prepare a general solicitation package along with a confidentiality agreement; (ii) derive a list of a minimum of three (3) bidders, each of whom shall be a nationally recognized participant in mortgage finance, (iii) initiate contact with all bidders, (iv) send a confidentiality agreement to all bidders, and (v) upon receipt of a signed confidentiality agreement, send bid solicitation package to all bidders.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Mort Ln Ast BCK CTS Ser 2003-Bc1)
