Xxxxxx Xxx Approval. The Service Provider agrees to use commercially reasonable efforts to seek approval for the Company as a Xxxxxx Mae issuer and servicer but the parties mutually acknowledge that such license is unlikely to be obtained in the foreseeable future. In the event the Company is unable to obtain such approval from Xxxxxx Xxx within a reasonable period of time, the Service Provider and the Company agree to negotiate in good faith to structure an alternative arrangement that provides the Company with approximately the same economics for Xxxxxx Mae Mortgage Loans as contemplated by the Fulfillment Fees set forth on Exhibit A.
Xxxxxx Xxx Approval. The Xxxxxx Mae Issuer Transfer Documents with respect to such Issuer Transfer Asset Group and the Acknowledgment Agreement (with respect to Group 1 Assets) shall have been executed by Xxxxxx Xxx and delivered to the Seller.
Xxxxxx Xxx Approval loanDepot shall at all times maintain copies of relevant portions of all final written HUD and Xxxxxx Mae audits, examinations, evaluations, monitoring reviews and reports of its origination and servicing and subservicing operations (including those prepared on a contract basis for any such agency) in which there are material adverse findings, including notices of defaults, notices of termination of approved status, notices of imposition of supervisory agreements or interim servicing agreements, and notices of probation, suspension, or non-renewal, and all necessary approvals from each of HUD and Xxxxxx Xxx. loanDepot shall not take any action, or fail to take any action, that would permit HUD or Xxxxxx Mae to terminate or threaten to terminate its right to issue MBS or service loans for HUD or Xxxxxx Xxx with cause.
