Procedure Upon Termination of Trust Fund. (a) In case of any Optional Termination, the Terminating Entity shall, no later than ten (10) days prior to the first day of the Optional Termination Notice Period, notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 7.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Sequoia Residential Funding Inc), Pooling and Servicing Agreement (Sequoia Mortgage Funding Corp)