Common use of Recognition of Assignee Clause in Contracts

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit to: Account Number: For further credit to: Collection Acct#

Appears in 6 contracts

Sources: Confirmation Agreement (Bayview Financial Mortage Pass-Through Trust 2005-D), Confirmation Agreement (Bayview 2006-B), Servicing Confirmation Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-A)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 507198670 FFC to: Collection Acct#GSAA 2006-3 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the fifteenth (15th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed- upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 507198▇▇▇ FFC to: Collection Acct#GSAA 2006-3 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 5▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2006-3 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)

Recognition of Assignee. (a) From and after the date hereof, both the Assignor and the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its their respective books and records, and shall recognize the Assignee as the owner of the Mortgage Loans Loans, and shallthe Servicer, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, trust formed pursuant to the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Trust Agreement, the right to receive all monthly . (c) All reports and other data required to be delivered by the Servicer to the "Purchaser" under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇70 FFC to: Collection AcctGSAA 2006-1 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above by electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 507198670 FFC to: Collection AcctGSAA 2006-3 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit to: Account Number: For further credit to: Collection Acct▇▇▇▇#

Appears in 2 contracts

Sources: Servicing Agreement (Bayview Financial Mortgage Pass-Through Certificates, Series 2005-B), Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-A)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Owner” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Owner” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2007-4 Acct # 50996300

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-4), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-4)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer the PHH Parties and Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer PHH Parties and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Sale and Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Sale and Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 50▇▇▇▇▇▇▇ FFC to: Collection AcctGSAA 2006-1 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Sale and Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 5▇▇▇▇▇▇▇▇ FFC to: Collection AcctGSAA 2006-1 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or ommitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing ▇▇▇t #: For further credit 507198670 FFC to: Collection AcctGSAA 2006-3 Acct #507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the month immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 2 contracts

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000▇▇▇ For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇0771416 FFC to: Collection Acct#GSAA 2006-16 Acct # 50949100 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-16)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2006-20 Acct # 50974300 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-20)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their respective successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 1210002▇▇ For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇0771416 FFC to: Collection AcctGSAA 2006-10 Acct #50922800 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-10)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunderAssignee. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇1416 FFC to: Collection Acct#GSAA 2006-18 Acct # 50966900 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-18)

Recognition of Assignee. (a) a. From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) b. The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) c. All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement with respect to the Mortgage Loans shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 8 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇198670 FFC to: Collection Acct#GSAA 2006-9 Acct # 507198670 d. Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-9)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Owner” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Owner” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2007-7 Acct # 53162500

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-7)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇8670 FFC to: Collection AcctGSAA 2006-12 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-12)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer the PHH Parties and Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer PHH Parties and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Sale and Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Sale and Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, N.A. ABA #: 121000248 For credit to: Account NumberSAS Clearing ▇cct #: For further credit 3970771416 FFC to: Collection AcctGSAA 2006-7 Acct #50913900 (d) Monthly Reporting Notwithstanding anything to the contrary in the Sale and Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-7)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing AgreementFlow SWSA, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement Flow SWSA shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing AgreementFlow SWSA) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing AgreementFlow SWSA, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement Flow SWSA upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing AgreementFlow SWSA, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Flow SWSA and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Flow SWSA shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing AgreementFlow SWSA, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, N.A. ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2006-AR1 Acct #50891600 Notwithstanding anything to the contrary in the Flow SWSA, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed upon format, (b) default loan data in the format set forth in Exhibit 6 and Exhibit 7 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 4 and Exhibit 5 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-Ar1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇0 FFC to: Collection Acct#GSAA 2006-9 Acct # 507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, provided that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-9)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]U.S. Bank National Association, as Trustee for Bayview Financial Mortgage Pass-Through Trust 2006-D”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: 3970771416 For further credit to: Collection Acct#Bayview 2006-D A/C: 50964400

Appears in 1 contract

Sources: Servicing Confirmation Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-D)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection Acct#GSR 2007-AR2 Acct # 53151000 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar2)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that with respect to the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights with respect to the Mortgage Loans as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement with respect to the Mortgage Loans upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer with respect to the Mortgage Loans under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the ServicerServicer with respect to the Mortgage Loans. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement with respect to the Mortgage Loans shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 1210002▇▇ For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇0771416 FFC to: Collection Acct#GSAA 2006-16 Acct # 50949100 (▇) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-16)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]Wachovia Bank, National Association, as Trustee for Bayview Financial 2005-D Trust”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: 3970771416 For further credit to: Collection Acct#Bayview 2005-D A/C: 17202500

Appears in 1 contract

Sources: Confirmation Agreement (Bayview Financial Mortage Pass-Through Trust 2005-D)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 507198670 FFC to: Collection Acct#GSAA 2006-6 Acct # 507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-6)

Recognition of Assignee. (a) From and after the date hereof, the Servicer Responsible Party shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections , until the transfer of servicing to Wells Fargo Bank, National Association occurs on or about November ▇, ▇006 (the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”"Transfer Date"). It is the intention of the Assignor, Servicer Responsible Party and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer Responsible Party and the Assignee and their successors and assigns. (b) The Servicer Responsible Party further acknowledges that, from and after that until the date hereofTransfer Date has occurred, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunderAssignee. Such rights that the Assignee may enforce will include, without limitation, the right to terminate the Servicer Responsible Party under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer Responsible Party under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer Responsible Party under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the ServicerResponsible Party. (c) All reportsUntil the Transfer Date has occurred, notices all reports and other written information data required to be delivered by the Responsible Party to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer Trustee at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit toU.S. Bank National Association ABA #: Account Number091000022 Acct #: For further credit to173103322058 Ref: Collection Acct#106654▇▇▇ ▇▇▇▇▇T 2006-ALT2

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (New Century Alternative Mortgage Loan Trust 2006-Alt2)

Recognition of Assignee. (a) From and after the date hereof, both the Assignor and the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its their respective books and records, and shall recognize the Assignee as the owner of the Mortgage Loans Loans, and shallthe Servicer, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assignsassigns as to the Mortgage Loans. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly Assignee. (c) All reports and other data as to the Mortgage Loans required to be delivered by the Servicer to the "Purchaser" under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: ▇▇▇▇▇0248 For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2006-17 Acct # 5095490▇ (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-17)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]Wachovia Bank, National Association, as Trustee for Bayview Financial 2005-C Trust”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: ▇▇▇▇▇▇▇▇▇▇ For further credit to: Collection Acct#Bayview 2005-C A/C: 17185200

Appears in 1 contract

Sources: Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2005-C)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121▇▇▇▇▇8 For credit to: Account NumberSAS Clearing ▇▇ct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2006-14 Acct # 50940100 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-14)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner purchaser of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Sale Agreement to subsection (b) belowthe contrary, shall service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Sale Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Seller, the Servicer and the Assignee that the Servicing Sale Agreement shall be binding upon and inure to the benefit of the Seller, the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Sale Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Sale Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Sale Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Sale Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Sale Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Sale Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Sale Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2006-AR2 Acct #50914100 Notwithstanding anything to the contrary in the Sale Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR 2006-Ar2)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement Agreements and Section S of the Trade Confirmation shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns.. An account has been established as a Custodial Account pursuant to Section 4.04 of the Servicing Agreement, designated as “JPMorgan Chase Bank, National Association, in trust for the GSR Mortgage Loan Trust 2007-2F.” Another separate account has been established as an Escrow Account pursuant to Section 4.06 of the Servicing Agreement, designated as “JPMorgan Chase Bank, National Association, in trust for the GSR Mortgage Loan Trust 2007-2F.” (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection Acct#GSR 2007-2F Acct # 53136200 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-2f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit Wells Fargo Bank, N.A. ABA #: 121000248 Fo▇ ▇▇▇dit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇71416 FFC to: Collection AcctGSAA 2006-8 Acct #50913900 (▇) ▇otwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that with respect to 4, the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-8)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2007-3 Acct # 50987600 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-3)

Recognition of Assignee. (a) From and after the date hereof, both the Assignor and the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its their respective books and records, and shall recognize the Assignee as the owner of the Mortgage Loans Loans, and shallthe Servicer, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, trust formed pursuant to the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Trust Agreement, the right to receive all monthly . (c) All reports and other data required to be delivered by the Servicer to the "Purchaser" under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇▇98670 FFC to: Collection AcctGSAA 2006-5 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above by electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer the PHH Parties and Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer PHH Parties and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Sale and Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Sale and Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇8670 FFC to: Collection AcctGSAA 2006-12 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Sale and Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed-upon between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-12)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇198670 FFC to: Collection Acct#GSAA 2006-9 Acct # 507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-9)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]U.S. Bank National Association, as Trustee for Bayview Financial Mortgage Pass-Through Trust 2006-C”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ W▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: 1▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: 3970771416 For further credit to: Collection Acct#Bayview 2006-C A/C: 50964100

Appears in 1 contract

Sources: Servicing Confirmation Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-C)

Recognition of Assignee. (a) From and after the date hereof, the Servicer each First Horizon Party shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer the First Horizon Parties and the Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer First Horizon Parties and the Assignee and their successors and assigns. (b) The Servicer First Horizon Parties further acknowledges acknowledge that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 210002▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2006-16 Acct # 50949100 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-16)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 21000248 For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2006-16 Acct # 50940100 (▇) ▇▇▇▇▇▇y Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-16)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing AgreementAgreements, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, Servicer the Servicer, and the Assignee that the Servicing Agreement Agreements shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. In addition, it is the intention of the Assignor and the Assignee that Section S of the Trade Confirmation shall be binding upon and inure to the benefit of the Assignee and its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 11 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2007-1F Acct #50989800 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-1f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Owner” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. ABA# ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GPMF ▇▇▇▇-▇▇▇ ▇▇▇▇# [[50955200]] Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the form of Exhibit 6 or another mutually agreed upon format, (b) default loan data in the format set forth in Exhibit 7 hereto or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 4 and Exhibit 5 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GreenPoint Mortgage Funding Trust 2006-Oh1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2007-AR1 Acct #50981100 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing AgreementAgreement (which, for the purposes of this sentence, does not include the Assignment and Conveyance Agreement (06-W04) dated as of February 23, 2006), the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Owner” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunderAssignee. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Owner” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2007-4 Acct # 50996300 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-4)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇8670 FFC to: Collection Acct#GSAA 2006-12 Acct # [507198670] [JPMorgan: Please Confirm] (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, provided that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-12)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 8 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇670 FFC to: Collection Acct#GSAA 2006-5 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer Company shall note the transfer of the Mortgage Loans to the Assignee in its books and records, the Company shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, the Company shall service the Mortgage Loans for the benefit of the Assignee pursuant to the ▇▇▇▇▇ Fargo Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer the Company and the Assignee that the Servicing Agreement and the Purchase Agreement shall be binding upon and inure to the benefit of the Servicer Company and the Assignee and their respective successors and assigns. (b) The Servicer further . In addition, Company hereby acknowledges that, that from and after the date hereof, it (and any of its successors under the Servicing Agreement) Mortgage Loans will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under Servicing Agreement. Pursuant to the Servicing Agreement, the Master Servicer has the right to monitor the Depositor Company's performance of its servicing obligations under the Bayview Assignment ▇▇▇▇▇ Fargo Servicing Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights right will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer Company under the ▇▇▇▇▇ Fargo Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer Company under the ▇▇▇▇▇ Fargo Servicing Agreement, the right to examine the books and records of the Company, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to Company. The Company hereby acknowledges that the Master Servicer at shall be obligated to notify the address set forth Assignee in Section 9 hereof. All remittances required to be made to accordance with the Trustee, as Servicing Agreement upon the successor in interest to Bayview discovery of an event of default by the Company of its obligations under the ▇▇▇▇▇ Fargo Servicing Agreement and the Assignor Assignee shall have the right to terminate the Company as servicer under the ▇▇▇▇▇ Fargo Servicing Agreement, Agreement upon the occurrence of such an event of default. The Company shall be made instead make all distributions under the ▇▇▇▇▇ Fargo Servicing Agreement to the Master Servicer by wire transfer of immediately available funds to: CitiBank (West) ABA# ▇▇▇▇▇▇▇▇▇ Account Name: CMI MSD Clearing Account # 070-▇▇▇▇▇▇▇ For Further Credit to: CMLTI 2006-AR1 and the Company shall deliver all reports required to be delivered under the ▇▇▇▇▇ Fargo Servicing Agreement to the following accountMaster Servicer at: ___________________ ABA# For credit toCitiMortgage, Inc. Master Servicing Division- MC: Account NumberN3B-355 ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇. ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ Attention: For further credit toMSD Private Accounting Telecopy No.: Collection Acct#(▇▇▇) ▇▇▇-▇▇▇▇

Appears in 1 contract

Sources: Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it the Servicer's servicing of the Mortgage Loans pursuant to the Servicing Agreement (and any servicing by any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that the Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 12100024▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇771416 FFC to: Collection Acct#GSAA 2006-10 Acct # 50922800 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the format set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-10)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇416 FFC to: Collection Acct#GSAA 2006-14 Acct # 50940100 (▇) ▇onthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-14)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇416 FFC to: Collection Acct#GSAA 2007-6 Acct # 53154300 (▇) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-6)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Sale and Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer the PHH Parties and Assignee that the Sale and Servicing Agreement shall be binding upon and inure to the benefit of the Servicer PHH Parties and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Sale and Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Sale and Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Sale and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Sale and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Sale and Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Sale and Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇▇98670 FFC to: Collection AcctGSAA 2006-5 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Sale and Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 1210002▇▇ For credit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇0771416 FFC to: Collection AcctGSAA 2006-10 Acct #50922800 (▇) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-10)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit Wells Fargo Bank, N.A. ABA #: 121000248 Fo▇ ▇▇▇dit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇71416 FFC to: Collection AcctGSAA 2006-11 Acct #50924100 (▇) ▇otwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-11)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇198670 FFC to: Collection Acct#GSAA 2006-9 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-9)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner purchaser of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Sale Agreement to subsection (b) belowthe contrary, shall service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Sale Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Seller, the Servicer and the Assignee that the Servicing Sale Agreement shall be binding upon and inure to the benefit of the Seller, the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Sale Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Sale Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Sale Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Sale Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Sale Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Sale Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Sale Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2006-AR1 Acct #50891600 Notwithstanding anything to the contrary in the Sale Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-Ar1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇6 FFC to: Collection Acct#GSAA 2007-1 Acct # 50981000 (▇) ▇▇▇▇ithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000▇▇▇ For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇0771416 FFC to: Collection Acct#GSAA 2007-1 Acct # 50981000 (▇) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇1416 FFC to: Collection Acct#GSAA 2006-16 Acct # 50940100 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-16)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement (as modified by the applicable Underlying Assignment Agreement) to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Amended and Restated Master Seller’s Warranties and Servicing Agreement dated as of March 1, 2006, between ▇▇▇▇▇ Fargo and GSMC (the “2006 Servicing Agreement”), the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, Servicer the Servicer, and the Assignee that the Servicing Agreement Agreements shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. In addition, it is the intention of the Assignor and the Assignee that Section Q of the PPTL shall be binding upon and inure to the benefit of the Assignee and its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorBank of America, in its capacity as the original owner “Purchaser” under the Servicing Agreement to GSMC under the Underlying Assignment Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 11 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection Acct#GSR 2007-AR2 Acct # 53151000 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph. No later than two (2) Business Days after the thirteenth day of each calendar month, the Servicer shall furnish to the Master Servicer a monthly report containing such information regarding prepayments of Mortgage Loans during the applicable Principal Prepayment Period and in a format as mutually agreed to between the Servicer and the Master Servicer.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar2)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Owner” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Sale and Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ JPMorgan Chase Bank, National Association ABA# For credit to▇▇▇▇▇▇▇▇▇ Account Name: JPMorgan Chase Bank, National Association, Master Servicing Payment Clearing Account Account Number: 507198670 For further credit to: Collection Acct#▇▇▇▇▇▇▇ ▇▇▇▇▇ 2006-4F Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the first day of the month immediately preceding month and ending on the last day of such month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR 2006-4f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or ommitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit Wells Fargo Bank, N.A. ABA #: 121000248 Fo▇ ▇▇▇dit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇71416 FFC to: Collection Acct#GSAA 2006-4 Acct # 50900700 (▇) ▇▇▇▇▇▇hstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed- upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the month immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-4)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement Agreements and Section S of the Trade Confirmation shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns.. An account has been established as a Custodial Account pursuant to Section 4.04 of the Servicing Agreement, designated as “JPMorgan Chase Bank, National Association, in trust for the GSR Mortgage Loan Trust 2007-1F.” Another separate account has been established as an Escrow Account pursuant to Section 4.06 of the Servicing Agreement, designated as “JPMorgan Chase Bank, National Association, in trust for the GSR Mortgage Loan Trust 2007-1F.” (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2007-1F Acct #50989800 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-1f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit to: Account Number: For further credit to: Collection Acct▇▇▇▇#

Appears in 1 contract

Sources: Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2005-C)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For Wells Fargo Bank, N.A. ABA #: 121000248 ▇▇▇ credit to: Account NumberSAS Clearing A▇▇▇ #: For further credit ▇▇70771416 FFC to: Collection AcctGSAA 2006-11 Acct #50924100 (▇) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-11)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]U.S. Bank National Association, as Trustee for Bayview Financial 2006-B Trust”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: 3970771416 For further credit to: Collection Acct#Bayview 2006-B A/C: 50907000

Appears in 1 contract

Sources: Confirmation Agreement (Bayview 2006-B)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇1416 FFC to: Collection Acct#GSAA 2006-14 Acct # 50940100 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-14)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the “Owner” with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Owner” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2007-5 Acct # 53146000 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For Wells Fargo Bank, National Association ABA #: 121000248 ▇▇▇ credit to: Account NumberSAS Clearing Acct #: For further credit 39707714▇▇ FFC to: Collection Acct#GSAA 2006-20 Acct # 50974300 (d) M▇▇▇▇▇▇ ▇▇▇orting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-20)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇416 FFC to: Collection Acct#GSAA 2006-19 Acct # 50967000 (▇) ▇otwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-19)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2006-AR2 Acct #50914100 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR 2006-Ar2)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, Company shall recognize the Assignee as the owner of the Mortgage Assigned Loans and shall, subject will cause the Assigned Loans to subsection (b) below, service be serviced by the Mortgage Loans Servicer for the benefit Assignee as if the Assignee and Company had entered into a separate agreement for the servicing of the Assignee pursuant to Assigned Loans in the Servicing form of the Purchase Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage LoansIn addition, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee Company hereby acknowledges that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) Assigned Loans will be subject to the supervision Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated as of March 1, 2007, by and among, the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorAssignee, in its capacity as Trustee and as a custodian, the original owner under Depositor, the Assignor and the Master Servicer, in its capacity as such and as Securities Administrator. Pursuant to the Pooling and Servicing Agreement, the Master Servicer is required to the Depositor under the Bayview Assignment Agreement, monitor and further assigned by the Depositor to the Trusteeenforce, on behalf of the TrustAssignee, hereunderthe performance by the Company of its obligations to cause the Assigned Loans to be serviced by the Servicer under this Assignment Agreement. Such rights right will include, without limitation, the right to terminate the rights and obligations of the Company and the Servicer under Article IX of the Servicing Purchase Agreement upon the occurrence of an event of default thereunder, the right to exercise the Assigned Rights as permitted in Section 9.03 of the Purchase Agreement, the right to receive all remittances the Company is required to be have made by the Servicer under the Servicing Purchase Agreement, the right to receive all monthly reports and other data the Company is required to be have delivered by the Servicer under the Servicing Purchase Agreement, the right to examine the books and records of the Servicer, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reportsCompany. In connection therewith, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All Company hereby agrees that all remittances required to be made with respect to the Trustee, as Assigned Loans pursuant to the successor in interest to Bayview and the Assignor under the Servicing Agreement, Purchase Agreement shall be made instead to by the Master Servicer by and will be made in accordance with the following wire transfer to the following accountinstructions: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: SAS CLEARING Account Number: ▇▇▇▇▇▇▇▇▇▇ For further credit to: Collection Acct#RBSGC 2007-B, Account # ▇▇▇▇▇▇▇▇ and the Company shall cause to be delivered all reports and other notices required to be delivered under the Purchase Agreement to the Assignee and the Master Servicer at: ▇▇▇▇▇ Fargo Bank, N.A. ▇.▇. ▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: Corporate Trust Group, RBSGC 2007-B (or in the case of overnight deliveries, ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ 21045) Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ It is the intention of the Assignor, the Company and the Assignee that this Assignment Agreement shall be binding upon and for the benefit of the respective successors and assigns of the parties hereto. Neither the Company nor the Assignor shall amend or agree to amend, modify, waive, or otherwise alter any of the terms or provisions of the Purchase Agreement which amendment, modification, waiver or other alteration would in any way affect the Assigned Loans without the prior written consent of the Assignee. Reference is made to the information provided by the Company in writing (including electronic format) and contained in the Prospectus Supplement, including any supplement or amendment thereto, under the captions “Mortgage Loan Origination—U.S. Central Federal Credit Union” and “The Servicers— Navy Federal Credit Union” (the “Company Information”). The Company agrees to indemnify and hold harmless the Depositor, each director of the Depositor, each officer of the Depositor who signed the registration statement on Form S-3, including the Base Prospectus, filed with the Securities and Exchange Commission in accordance with the 1933 Act, Greenwich Capital Markets, Inc. (the “Underwriter”), and each person, if any, who controls the Depositor or the Underwriter within the meaning of Section 15 of the 1933 Act (collectively, the “Indemnified Party”) against any and all losses, claims, expenses, damages or liabilities to which the Indemnified Party becomes subject, under the 1933 Act or otherwise, including, without limitation, with respect to disputes between the parties, insofar as such losses, claims, expenses, damages or liabilities (or actions in respect thereof) arise out of or are based upon (x) any untrue statement of any material fact contained in the Company Information or omission to state therein a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which such statements were made, not misleading (in each case, regardless of whether a final judgment has been entered by a finder of fact) or (y) any material misstatement or omission contained in the Prospectus Supplement regarding information or statistics therein regarding the Mortgage Loans based on information correctly derived by the Depositor or its affiliates and included in the Prospectus Supplement from information provided in writing (including electronic format) by Company to the Assignor in the final file tape in connection with Assignor’s original purchase of the Mortgage Loans, as well as any subsequent update of the outstanding principal of any Mortgage Loan provided in writing (including electronic format) by Company to Assignor or Depositor; and Company will reimburse any such reasonable legal or other expenses reasonably incurred by the Indemnified Party in connection with investigating or defending any such loss, claim, damage, liability or action.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (RBSGC Mortgage Loan Trust 2007-B)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that the Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 1210002▇▇ For credit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇▇771416 FFC to: Collection AcctGSAA 2006-10 Acct #50922800 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) Business Day of each month, the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-10)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇▇98670 FFC to: Collection AcctGSAA 2006-5 Acct #507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇8670 FFC to: Collection Acct#GSAA 2006-5 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2007-4 Acct # 50996300

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-4)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇416 FFC to: Collection Acct#GSAA 2006-17 Acct # 50954900 (▇) ▇otwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-17)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2006-20 Acct # 50974300 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-20)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement (as modified by the applicable Underlying Assignment Agreement) to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement (as modified by the applicable Underlying Assignment Agreement), the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, Servicer the Servicer, and the Assignee that the Servicing Agreement Agreements shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. In addition, it is the intention of the Assignor and the Assignee that Section S of the Trade Confirmation shall be binding upon and inure to the benefit of the Assignee and its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 11 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection Acct#GSR 2007-3F Acct # 53145900 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph. No later than two (2) Business Days after the thirteenth day of each calendar month, the Servicer shall furnish to the Master Servicer a monthly report containing such information regarding prepayments of Mortgage Loans during the applicable Principal Prepayment Period and in a format as mutually agreed to between the Servicer and the Master Servicer.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-3f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or ommitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇▇198670 FFC to: Collection AcctGSAA 2006-1 Acct #507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the month immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage CorporationBank, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit to: Account Number: For further credit to: Collection Acct▇▇▇▇#

Appears in 1 contract

Sources: Flow Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-A)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, as amended by the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”GSMC Assignment Agreement. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Owner” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunderAssignee. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Owner” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2007-7 Acct # 53162500 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-7)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, N.A. ABA #: 121000248 For credit c▇▇▇▇▇ to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇16 FFC to: Collection AcctGSAA 2006-8 Acct #50914000 (▇) ▇▇▇▇ithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) Business Day of each month, the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit B (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-8)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit 5▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2006-12 Acct # 507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-12)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 12▇▇▇▇▇48 For credit to: Account NumberSAS Clearing ▇cct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2006-18 Acct # 50966900 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 6 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-18)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage CorporationBank, as servicer in trust for [Trustee]U.S. Bank National Association, as Trustee for Bayview Financial Mortgage Pass-Through Trust 2007-B”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: 3970771416 For further credit to: Collection Acct#Bayview 2007-B A/C: 53165300

Appears in 1 contract

Sources: Servicing Confirmation Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-B)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage CorporationBank, as servicer in trust for [Trustee]U.S. Bank National Association, as Trustee for Bayview Financial Mortgage Pass-Through Trust 2007-A”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: 3970771416 For further credit to: Collection Acct#Bayview 2007-A A/C: 53138900

Appears in 1 contract

Sources: Servicing Confirmation Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-A)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121▇▇▇▇▇8 For credit to: Account NumberSAS Clearing ▇▇ct #: For further credit 3970771416 FFC to: Collection AcctGSAA 2006-10 Acct #50922800 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-10)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection clause (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing AgreementFlow SWSA, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement Flow SWSA shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. The Assignee (including the Master Servicer acting on the Trust’s behalf) shall have all the rights and remedies available to the Assignor (except such rights as are specifically reserved to the Assignor or to GSMC in the GSMC Assignment Agreement), insofar as they relate to the Mortgage Loans, under the Flow SWSA and the Trade Confirmations, and shall be entitled to enforce all the obligations of the Servicer thereunder insofar as they relate to the Mortgage Loans. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing AgreementFlow SWSA) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner purchaser under the Servicing AgreementFlow SWSA, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the trust formed pursuant to the Trust Agreement (the “Trust, hereunder”). Such rights will shall include, without limitation, the right to terminate the Servicer under the Servicing Agreement Flow SWSA upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing AgreementFlow SWSA, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing AgreementFlow SWSA, indemnification rights, the right to inspect the Servicer’s books and records rights and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview GSMC and the Assignor under the Servicing AgreementFlow SWSA, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof; provided, however, that any reports required to be delivered under the Flow SWSA (as modified hereby) shall be transmitted by magnetic tape, electronic mail or other similar media mutually acceptable to the Master Servicer and Servicer. All remittances required to be made to the Trustee, as the successor in interest to Bayview GSMC and the Assignor under the Servicing AgreementFlow SWSA, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. ABA# ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection GSR 2007-5F Acct## 53176800 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(x) monthly loan data in the form of Exhibit 6 hereto or another mutually agreed-upon format, (y) default loan data in the mutually agreed upon format set forth in Exhibit 7 hereto and (z) information regarding the realized losses set forth in Exhibit 4 and Exhibit 5 hereto, in each case relating to the period ending on the last day of the preceding calendar month and (ii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-5f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, the Servicer and the Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2006-AR1 Acct #50891600 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-Ar1)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, the Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# For credit Wells Fargo Bank, N.A. ABA #: 121000248 F▇▇ ▇▇edit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇▇771416 FFC to: Collection AcctGSAA 2006-7 Acct #50913900 (▇) ▇▇nthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the fifteenth (15th) calendar day of each month (or if such fifteenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 (or in such other format mutually agreed-upon between the Servicer and Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-8)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Purchaser" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000248 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇1416 FFC to: Collection Acct#GSAA 2007-6 Acct # 53154300 (▇) ▇onthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-6)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 3970771416 FFC to: Collection Acct#GSAA 2007-8 Acct # 53169600

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-8)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement to subsection (b) below, the contrary shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it the Servicer's servicing of the Mortgage Loans pursuant to the Servicing Agreement (and any servicing by any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, Assignee. Such rights that the Master Servicer may enforce on behalf of the Trust, hereunder. Such rights Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 121000▇▇▇ For credit to: Account NumberSAS Clearing Ac▇▇ #: For further credit ▇▇70771416 FFC to: Collection Acct#GSAA 2006-11 Acct # 50924100 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth (10th) calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in the format set forth in Exhibit B hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit C hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit D hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-11)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same right to enforce the rights as were assigned by of the Assignor, in its capacity as the original owner Owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights Agreement which will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer on behalf of the Assignee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# Wells Fargo Bank, National Association ABA #: 1210002▇▇ For credit to: Account NumberSAS Clearing Acc▇ #: For further credit ▇▇▇▇771416 FFC to: Collection Acct#GSAA 2007-6 Acct # 53154300 (▇) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data as set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer); provided, that the Servicer will not be required to provide information regarding prepayment penalties to the extent such prepayment penalties are retained by the Servicer, (b) default loan data as set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains as set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period beginning on the second day of the month immediately preceding and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation reasonably necessary and available with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-6)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein or in the Servicing Agreement (as modified by the applicable Underlying Assignment Agreement) to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement (as modified by the applicable Underlying Assignment Agreement), the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on , whether or not such Mortgage Loans have been serviced pursuant to such agreement prior to the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”date hereof. It is the intention of the Assignor, Servicer the Servicer, and the Assignee that the Servicing Agreement Agreements shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. In addition, it is the intention of the Assignor and the Assignee that Section S of the Trade Confirmation shall be binding upon and inure to the benefit of the Assignee and its successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the TrusteeAssignee, on behalf of the Trust, hereunder. Such rights that the Master Servicer may enforce on behalf of the Assignee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Assignee, as designated by the Assignee, at the address set forth in Section 9 11 hereof. All remittances required to be made to the TrusteeAssignee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, NA ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection Acct#GSR 2007-2F Acct # 53136200 Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format set forth in Exhibit 7 and Exhibit 8 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 5 and Exhibit 6 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-2f)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, service the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]Wachovia Bank, National Association, as Trustee for Bayview Financial 2005-B Trust”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the Assignor, in its capacity as the original owner under the Servicing Agreement, to the Depositor under the Bayview Assignment Agreement, and further assigned by the Depositor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall also be delivered to the Master Servicer at the address set forth in Section 9 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ Fargo Bank, N.A. San Francisco, California ABA# For credit to#: ▇▇▇-▇▇▇-▇▇▇ Account Name: Corporate Trust Clearing Account Number: ▇▇▇▇▇▇▇▇▇▇ For further credit to: Collection Acct#Bayview 2005-B A/C: 17153100

Appears in 1 contract

Sources: Servicing Agreement (Bayview Financial Mortgage Pass-Through Certificates, Series 2005-B)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that with respect to the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights with respect to the Mortgage Loans as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement with respect to the Mortgage Loans upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer with respect to the Mortgage Loans under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer with respect to the Mortgage Loans under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the ServicerServicer with respect to the Mortgage Loans. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement with respect to the Mortgage Loans shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 8 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit 507198670 FFC to: Collection Acct#GSAA 2006-5 Acct # 507198670 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, both the Assignor and the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its their respective books and records, and shall recognize the Assignee as the owner of the Mortgage Loans Loans, and shallthe Servicer, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assignsassigns as to the Mortgage Loans. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee Assignee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Purchaser" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereunder. Such rights will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly Assignee. (c) All reports and other data as to the Mortgage Loans required to be delivered by the Servicer to the "Purchaser" under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices and other written information required to be delivered to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# ▇▇▇▇▇ Fargo Bank, National Association ABA #: ▇▇▇▇▇▇▇▇▇ For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇▇▇▇▇▇ FFC to: Collection Acct#GSAA 2006-19 Acct # 50954900 (d) Monthly Reporting Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in the format set forth in Exhibit 3 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), (b) default loan data in the format set forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer) and (c) information regarding realized losses and gains in the format set forth in Exhibit 5 hereto (or in such other format mutually agreed-upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-19)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shalland, subject notwithstanding anything herein to subsection (b) belowthe contrary, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing Agreement, Agreement the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Countrywide, the Servicer and Assignee that the Sale Agreement and the Servicing Agreement shall be binding upon and inure to the benefit of Countrywide, the Servicer and the Assignee and their successors and assigns, respectively. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing Agreement) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner "Owner" under the Servicing Agreement, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Agreement and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or (ii) the failure of the Master Servicer to perform the obligations of the Assignee with respect to the Assignment Agreement or of the "Owner" with respect to the servicing provisions of the Servicing Agreement as the Master Servicer is required to perform, as applicable. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor "Owner" under the Servicing Agreement, Agreement shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing Agreement, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ABA# JPMorgan Chase Bank, National Association ABA #: 021000021 For credit to: Account NumberSAS Clearing Acct #: For further credit ▇▇▇▇▇8670 FFC to: Collection AcctGSAA 2006-5 Acct #507198670 (d) Notwithstanding anything to the contrary in the Servicing Agreement, with respect to the Mortgage Loans, not later than the tenth (10th) calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i) (a) monthly loan data in a mutually agreed-upon format, (b) default loan data in the format mutually agreed-upon between the Servicer and the Master Servicer and (c) information regarding realized losses and gains in the format mutually agreed between the Servicer and the Master Servicer, in each case relating to the period beginning on the second day of the month immediately preceding month and ending on the first day of the then current month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required pursuant to clause (i)(c) above.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-5)

Recognition of Assignee. (a) From and after the date hereof, the Servicer shall note the transfer of the Mortgage Loans to the Assignee in its books and records, shall recognize the Assignee as the owner of the Mortgage Loans and shall, subject to subsection (b) below, shall service all of the Mortgage Loans for the benefit of the Assignee pursuant to the Servicing AgreementFlow SWSA, the terms of which are incorporated herein by reference. The Servicer shall establish a separate Custodial Account for collections on the Mortgage Loans, and such Custodial Account shall be entitled “M&T Mortgage Corporation, as servicer in trust for [Trustee]”. It is the intention of the Assignor, Servicer and Assignee that the Servicing Agreement Flow SWSA shall be binding upon and inure to the benefit of the Servicer and the Assignee and their successors and assigns. (b) The Servicer further acknowledges that, from and after the date hereof, it (and any of its successors under the Servicing AgreementFlow SWSA) will be subject to the supervision of the Master Servicer (except that the Master Servicer shall not be responsible for supervising the servicing of defaulted Mortgage Loans and REO Properties) and that the Master Servicer, acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have the same rights as were assigned by the AssignorGSMC, in its capacity as the original owner “Purchaser” under the Servicing AgreementFlow SWSA, to the Depositor Assignor under the Bayview GSMC Assignment Agreement, and further assigned hereunder by the Depositor Assignor to the Trustee, on behalf of the Trust, hereundertrust formed pursuant to the Trust Agreement. Such rights that the Master Servicer may enforce on behalf of the Trustee will include, without limitation, the right to terminate the Servicer under the Servicing Agreement Flow SWSA upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Servicing AgreementFlow SWSA, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Servicing Agreement, indemnification rights, the right to inspect the Servicer’s books and records Flow SWSA and the right to exercise certain rights of consent and approval relating to actions taken by the Servicer. (c) All reports, notices reports and other written information data required to be delivered by the Servicer to the Trustee, as the successor in interest to Bayview and the Assignor “Purchaser” under the Servicing Agreement, Flow SWSA shall also be delivered to the Master Servicer or the Trustee, as designated by the Trustee, at the address set forth in Section 9 10 hereof. All remittances required to be made to the Trustee, as the successor in interest to Bayview and the Assignor under the Servicing AgreementFlow SWSA, shall be made instead to the Master Servicer by wire transfer to the following account: ___________________ ▇▇▇▇▇ FARGO BANK, N.A. ABA# For credit to▇▇▇▇▇▇▇▇▇ FOR CREDIT TO: Account NumberSAS CLEARING ACCT: For further credit to▇▇▇▇▇▇▇▇▇▇ REFERENCE: Collection AcctGSR 2006-AR2 Acct #50914100 Notwithstanding anything to the contrary in the Flow SWSA, with respect to the Mortgage Loans, not later than the tenth calendar day of each month (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (i)(a) monthly loan data in a mutually agreed upon format, (b) default loan data in the format set forth in Exhibit 6 and Exhibit 7 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer) and (c) information regarding the realized losses and gains in the format set forth in Exhibit 4 and Exhibit 5 hereto (or in such other format mutually agreed upon between the Servicer and the Master Servicer), in each case relating to the period ending on the last day of the preceding calendar month, (ii) all such information required pursuant to clause (i)(a) above on a magnetic tape, electronic mail or other similar media reasonably acceptable to the Master Servicer and (iii) all supporting documentation with respect to the information required under the preceding paragraph.

Appears in 1 contract

Sources: Assignment, Assumption and Recognition Agreement (GSR 2006-Ar2)