Servicer Notice Clause Samples
The Servicer Notice clause establishes the requirement for the servicer to provide formal notifications to relevant parties under the agreement. Typically, this clause outlines the circumstances under which notices must be sent, the method of delivery (such as email or certified mail), and the parties entitled to receive such communications. Its core practical function is to ensure that all stakeholders are promptly and properly informed of important developments or actions, thereby promoting transparency and reducing the risk of misunderstandings or disputes.
Servicer Notice. As a condition precedent to Buyer funding the Purchase Price for any Purchased Mortgage Loan subserviced by a Servicer other than Seller, Buyer, or an Affiliate of Buyer, Seller shall provide to Buyer a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Buyer may reasonably request, including, without limitation, recognition by the Servicer of Buyer’s interest in such Purchased Mortgage Loans and ownership of the Servicing Rights related thereto and the Servicer’s agreement that upon receipt of notice of an Event of Default from Buyer, it will follow the instructions of Buyer with respect to the subservicing of the related Purchased Mortgage Loans.
Servicer Notice. Seller shall provide promptly to Buyer (i) a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Buyer may reasonably request, including, without limitation, recognition by the Servicer of Buyer’s interest in such Purchased Mortgage Loans and ownership of the servicing rights related thereto and the Servicer’s agreement that upon receipt of notice of an Event of Default from Buyer, it will follow the instructions of Buyer with respect to the subservicing of the Purchased Mortgage Loans.
Servicer Notice. The notice acknowledged by the Servicer which is substantially in the form of Exhibit K hereto.
Servicer Notice. As a condition precedent to Buyer funding the Purchase Price for any Purchased Mortgage Loan serviced by a Servicer other than Guarantor, Seller, Buyer, or an Affiliate of Buyer, the Guarantor or Seller shall provide to Buyer a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Buyer may reasonably request, including, without limitation, recognition by the Servicer of Buyer’s interest in such Related Mortgage Loans and, with respect to the Servicing Released Loans, ownership of a Participation Interest in the Servicing Rights related thereto, and the Servicer’s agreement that upon receipt of notice of an Event of Default or Servicer Termination Event, subject to Guarantor’s appointment right set forth in the first sentence of Section 6.2(m), from Buyer, it will follow the instructions of Buyer with respect to the servicing of the Related Mortgage Loans.
Servicer Notice. To the extent not previously delivered, Sellers shall have provided to Buyer a Servicer Notice in the form of Exhibit L hereto addressed to, agreed to and executed by Servicer, Seller Parties and Buyer.
Servicer Notice. As a condition precedent to Administrative Agent on behalf of Buyers funding the Purchase Price for any Purchased Mortgage Loan subserviced by a Servicer other than Seller, Administrative Agent, or an Affiliate of Administrative Agent, Seller shall provide to Administrative Agent a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Administrative Agent may reasonably request, including, without limitation, recognition by the Servicer of Administrative Agent’s (on behalf of Buyers) interest in such Purchased Mortgage Loans and ownership of the Servicing Rights related thereto and the Servicer’s agreement that upon receipt of notice of an Event of Default from Administrative Agent, it will follow the instructions of Administrative Agent with respect to the subservicing of the related Purchased Mortgage Loans.
Servicer Notice. Seller shall provide promptly to Buyer (i) a Servicer Notice addressed to and agreed to by the Servicer of the related Purchased Mortgage Loans, advising the Servicer of such matters as Buyer may reasonably request, including, without limitation, recognition by the Servicer of Buyer’s interest in such Purchased Mortgage Loans and the Servicer’s agreement that upon receipt of notice of an Event of Default from Buyer, it will follow the instructions of Buyer with respect to the Purchased Mortgage Loans and any related Income with respect thereto.
Servicer Notice. As a condition precedent to Buyer funding the Purchase Price for any Purchased Mortgage Loan serviced by a Servicer other than Guarantor, Seller, Buyer, or an Affiliate of Buyer, the Guarantor or Seller shall provide to Buyer a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Buyer may reasonably request, including, without limitation, recognition by the Servicer of Buyer’s interest in such Related Mortgage Loans and ownership of a Participation Interest in the Servicing Rights related thereto and the Servicer’s agreement that upon receipt of notice of an Event of Default or Servicer Termination Event, subject to Guarantor’s appointment right set forth in the first sentence of Section 6.2(m), from Buyer, it will follow the instructions of Buyer with respect to the servicing of the related Related Mortgage Loans.
Servicer Notice. Upon the Administrative Agent’s request of any third-party Servicer, the Sellers shall provide promptly to the Administrative Agent (i) a Servicer Notice addressed to and agreed to by the Servicer of the related Purchased Assets, advising such Servicer of such matters as the Administrative Agent may reasonably request, including, without limitation, recognition by the Servicer of the Administrative Agent’s interest in such Purchased Assets and the Servicer’s agreement that upon receipt of notice of an Event of Default from the Administrative Agent, it will follow the instructions of the Administrative Agent with respect to the Purchased Assets and any related Income with respect thereto.
Servicer Notice. As a condition precedent to Buyer funding the Purchase Price in respect of any Underlying Asset subserviced by a Servicer other than a Guild Party, Buyer, or an Affiliate of Buyer, Guild Parties shall provide to Buyer (i) a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Buyer may reasonably request, including, without limitation, recognition by the Servicer of Buyer’s interest in such Underlying Assets and ownership of the Participation Interests in the Servicing Rights related thereto and the Servicer’s agreement that upon receipt of notice of an Event of Default from Buyer, it will follow the instructions of Buyer with respect to the subservicing of the related Underlying Assets.