Use of Subservicers. It shall not be necessary for the Servicer to seek the consent of the Owner to the utilization of any Subservicer, including an Affiliate acting as a Subservicer; provided, however, that the Servicer delivers any notices or obtains any consents or approvals otherwise required by the applicable Guide. The Servicer shall be responsible for obtaining from each Subservicer and delivering to the Owner any servicer compliance statement required to be delivered by such Subservicer under Section 6.02 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 6.03.
Use of Subservicers. No Borrower shall use a subservicer, other than the Subservicer, with respect to any Mortgage Loan without Lender’s prior written consent; provided that Lender will be deemed to consent if the subservicer is approved by the Applicable Agency. Each Borrower shall provide prior notice to Lender with respect to the use of a subservicer, other than the Subservicer, or a change in subservicer.
Use of Subservicers. Servicer shall have the right to perform any portion of the Services through one or more subservicers; provided that (i) any subservicer that is not an Affiliate of Servicer shall be subject to approval pursuant to Article III of the Program Agreement and (ii) Servicer shall remain fully responsible to Bank for the portion of the Services performed by any such subservicer(s) (including its Affiliates). Notwithstanding the foregoing, to the extent Servicer subcontracts or outsources to any third party any Services as of the date hereof, Servicer may continue to subcontract or outsource such Services to such third party.
Use of Subservicers. (a) Servicer shall have the right to perform any portion of the Services through one or more subservicers; provided that (i) any subservicer that is not an Affiliate of Servicer shall be subject to approval pursuant to Article III of the Program Agreement and the procedures set forth in this Section 2.05, (ii) Servicer shall remain fully responsible to Bank for the portion of the Services performed by any such subservicer(s) (including its Affiliates) to the same extent Servicer would be responsible if it performed such functions itself, and (iii) Servicer shall cause each such subservicer to comply with Servicer’s obligations under this Agreement. Without limiting the generality of the foregoing, Servicer shall require each such subservicer the same, or substantially the same, level of risk mitigation and compliance as Servicer is required to provide under this Agreement. Notwithstanding the foregoing, but subject to the other provisions of this Section 2.05, to the extent Servicer subcontracts or outsources to any third party any Services as of the date hereof, Servicer may continue to subcontract or outsource such Services to such third party.
Use of Subservicers. Servicer shall have the right to perform any portion of the Services through one or more subservicers provided (i) that any subservicer that is not an Affiliate of Servicer shall be approved by the Operating Committee and (ii) that Servicer shall remain fully responsible to Primary Servicer for the portion of the Services performed by any such subservicer(s). Any subservicing agreement shall be consistent with the terms of this Agreement.
Use of Subservicers. Notwithstanding the foregoing, to the extent the Servicer engages any affiliate or third party vendor in connection with the performance of any of its duties under this Agreement, the Servicer shall immediately notify the Seller in writing of such engagement. To the extent the Seller notifies the Servicer and the Indenture Trustee that it has determined that any such affiliate or third party vendor is a Servicing Function Participant, the Servicer shall cause such Servicing Function Participant to prepare a separate assessment and attestation report, as contemplated by Section 4.11 of this Agreement and deliver such report to the Indenture Trustee as set forth in Section 4.13 of this Agreement. In addition, to the extent the Seller notifies the Servicer and the Indenture Trustee that it has determined that any such Servicing Function Participant would be a "servicer" within the meaning of Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB (an "Additional Servicer"), the Servicer shall cause such Additional Servicer to prepare a separate compliance statement as contemplated by Section 4.10 of this Agreement and deliver such statement to the Indenture Trustee as set forth in Section 4.13 of this Agreement. In addition, if the Seller determines any such Servicing Function Participant would be a "servicer" within the meaning of Item 1101 of Regulation AB, the Servicer shall cause such Servicing Function Participant to provide the Seller and the Indenture Trustee the information required by Section 1108(b) and 1108(c) of Regulation AB within two Business Days following such engagement. To the extent the Servicer terminates any such Servicing Function Participant that the Seller has determined is a "servicer" within the meaning of Item 1101 of Regulation AB, the Servicer shall provide the Seller and the Indenture Trustee the information required to enable them Indenture Trustee to accurately and timely report such event under Item 6.02 of Form 8-K (if the Trust's Exchange Act reporting requirements have not been suspended pursuant to Section 15(d) of the Exchange Act as set forth in Section 7.8.
Use of Subservicers. Borrower shall not use a subservicer with respect to any Mortgage Loan without Lender's prior written consent, which consent shall not be unreasonably withheld.
Use of Subservicers. It shall not be necessary for the Servicer to seek the consent of the Owner to the utilization of any Subservicer, including an Affiliate acting as a Subservicer; provided, however, that the Servicer delivers any notices or obtains any consents or approvals otherwise required by the applicable Guide. The Servicer shall be responsible for obtaining from each Subservicer and delivering to the Owner any servicer compliance statement required to be delivered by such Subservicer under Section 6.02 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 6.03. NY1 8630204v.6
Use of Subservicers. As set forth in Part 1, Section 206 of the Servicing Guide, even if a subservicing arrangement is known, approved of, or consented to, by Xxxxxx Xxx, Lender remains fully liable to Xxxxxx Mae for the performance of all Other Obligations by a subservicer. Xxxxxx Xxx may enforce any rights and remedies it may have against Lender for breach of the Other Obligations by a subservicer. In addition to the foregoing and not in limitation thereof, Xxxxxx Mae also may enforce any rights and remedies it may have against any subservicer for breach of the Other Obligations.
