Examples of Servicing Transfer Notice in a sentence
Upon the earlier of (x) the delivery of a Termination Notice to the Servicer pursuant to Section 8.01 of the Sale and Servicing Agreement or (y) the resignation of the Servicer pursuant to Section 6.05 of the Sale and Servicing Agreement, the Indenture Trustee shall deliver a Servicing Transfer Notice to the Back-up Servicer.
The Back-up Servicer agrees to assume the duties and obligations, and it shall be entitled to the rights, of the Servicer under the Sale and Servicing Agreement, except as otherwise set forth herein, as of the applicable Servicing Assumption Date, which duties and obligations shall be deemed to include the duties and obligations of the Servicer under Sections 2.2(a) and 2.2(b)(i), (ii) and (iv) hereof to the extent not completed by the Servicer prior to the delivery of a Servicing Transfer Notice.
If the Servicer has failed to send any Obligor Notification within thirty (30) days after the date of delivery of the applicable Servicing Transfer Notice, the Back-up Servicer shall send such a notice to each such Loan Obligor on the Servicer’s stationery (if such stationery is reasonably available) within forty-five (45) days after the date of delivery of the Servicing Transfer Notice.
If the Servicer has failed to send any Obligor Notification within thirty (30) days after the date of delivery of the applicable Servicing Transfer Notice, the Back-up Servicer shall send such a notice to each such Loan Obligor on the Servicer’s stationery (if such stationery is reasonably available) within forty- five (45) days after the date of delivery of the Servicing Transfer Notice.
The Debtor’s exhibits include two letters regarding the transfer of mortgage servicing to SPS: a Servicing Transfer Notice dated July 17, 2017 (p.