Amendments to Sale and Servicing Agreement Clause Samples
The "Amendments to Sale and Servicing Agreement" clause defines the process and requirements for making changes to the original Sale and Servicing Agreement between parties. Typically, this clause outlines who must consent to amendments, such as requiring written agreement from all parties or specific stakeholders, and may specify procedures for proposing and documenting changes. Its core practical function is to ensure that any modifications to the agreement are made transparently and with proper authorization, thereby preventing unauthorized or unilateral changes and maintaining the integrity of the contractual relationship.
Amendments to Sale and Servicing Agreement. The Trustee may enter into any amendment or supplement to the Sale and Servicing Agreement only in accordance with Section 13.01 of the Sale and Servicing Agreement. The Trustee may, in its reasonable discretion, decline to enter into or consent to any such supplement or amendment if its own rights, duties or immunities shall be adversely affected in any material respect.
Amendments to Sale and Servicing Agreement. The parties agree that the Sale and Servicing Agreement shall be amended, solely with respect to the Mortgage Loans, as follows:
Amendments to Sale and Servicing Agreement. The Issuer covenants with the Indenture Trustee that it will not enter into any amendment or supplement to the Sale and Servicing Agreement except in accordance with Section 7.01 of the Sale and Servicing Agreement.
Amendments to Sale and Servicing Agreement. The Issuer shall not agree to any amendment to Section 10.01 of the Sale and Servicing Agreement or Section 8.02 of the Trust Agreement to eliminate the requirements thereunder that the Indenture Trustee or the Noteholders consent to amendments thereto as provided therein, unless the Indenture Trustee or the Noteholders, as the case may be, consent to such amendment eliminating such requirement.
Amendments to Sale and Servicing Agreement. Master Servicer as Agent and Bailee of the Indenture Trustee
Amendments to Sale and Servicing Agreement. The Sale and Servicing Agreement is hereby amended as follows:
(A) Section 5.06(ii)(I) of the Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:
(I) (a) first, to the Reserve Account, the amount necessary to reinstate the balance in the Reserve Account up to the Total Reserve Amount; and (b) then to the Certificateholders, any remaining amounts, provided the Indenture Trustee has not received written instruction from the Certificateholders of 100% percentage interest in the Certificates to redeposit all or a portion of such Total Available Funds due such Certificateholders into the Collection Account.”
(B) Section 5.07(b) of the Sale and Servicing Agreement is hereby amended by deleting the term “Required Reserve Amount” therein and replacing it with the term “Total Reserve Amount.”
(C) The definition of “Available Funds” in Appendix A Part I of the Sale and Servicing Agreement is hereby amended by deleting the term “Required Reserve Amount” therein and replacing it with the term “Total Reserve Amount.”
Amendments to Sale and Servicing Agreement. The Sale and Servicing Agreement is hereby amended as follows:
Amendments to Sale and Servicing Agreement. The Issuing Entity covenants with the Indenture Trustee and the Securities Administrator that it will not enter into any amendment or supplement to the Sale and Servicing Agreement without the prior written consent of the Indenture Trustee and the Securities Administrator.
Amendments to Sale and Servicing Agreement. The Issuing Entity covenants with the Indenture Trustee that it will not enter into any amendment or supplement to the Sale and Servicing Agreement without the prior written consent of the Indenture Trustee. Subsequent to a TMP Trigger Event, the Indenture Trustee shall not enter into any such amendment or supplement without receiving an opinion of counsel to the effect that such amendment or supplement will not cause the imposition of any tax on the Trust or the Noteholders or cause the any REMIC to fail to qualify as a REMIC at any time that any Notes are outstanding.
Amendments to Sale and Servicing Agreement. (a) The definition of “Combined LTV or CLTV” in Section 1.01 of the Sale and Servicing Agreement is hereby amended by deleting the definition in its entirety and replacing it with the following: