Common use of Further notification Clause in Contracts

Further notification. Lender shall: -------------------- (a) Advise Subservicer upon delivery of each Mortgage Loan submitted for subservicing, as to whether the Mortgage Loan is in a warehouse (unsold) status or, if sold, specific information regarding the intended permanent Investor. If a Mortgage Loan which has been delivered to Subservicer in a warehouse (unsold) status is sold, Lender will immediately notify Subservicer of the sale by phone and will deliver a written copy of the permanent Investor's purchase advice for funding detailed report immediately thereafter. If the Investor charges a penalty for late reporting, remittances, etc., which were caused by Lender's delay in notifying Subservicer of the Investor's purchase of the Mortgage Loan(s), Lender agrees to promptly pay the penalty and Subservicer shall have no liability on account thereof; and (b) Discharge Subservicer from all liability for all Advances which are related to any Mortgage Loan included in any pool that has been created through "Mortgage-backed pass-through certificates" or securities, including Advances due to negative amortization. Subservicer will reimburse Lender as recoveries are made from Mortgagors, as provided in Section 3.5.

Further notification. Lender shall: --------------------: (a) Advise advise Subservicer upon delivery of each Mortgage Loan submitted for subservicing, subservicing as to whether the Mortgage Loan is in a warehouse (unsold) status or, if sold, specific information regarding the intended permanent Investor. If a Mortgage Loan which has been delivered to Subservicer of the sale in a warehouse (unsold) status is sold, Lender will immediately notify Subservicer of the sale by phone and will deliver a written copy of the permanent Investor's ’s purchase advice for or funding detailed detail report immediately thereafter. If the Investor charges a penalty for late reporting, remittances, etc., which were caused by Lender's ’s delay in notifying Subservicer of the Investor's ’s purchase of the Mortgage Loan(s), Lender agrees to promptly pay the penalty and Subservicer shall have no liability on account thereof; and (b) Discharge discharge Subservicer from all funding liability for all Advances which are related to any Mortgage Loan included in any pool that has been created through "Mortgage-backed pass-through certificates" Backed Securities or securitiesCertificates, including Advances due to negative amortizationamortization to the extent that Subservicer makes remittances to Investors. Subservicer will reimburse Lender as recoveries are made from Mortgagors, as provided in Section 3.5.