Common use of Servicer Notice Clause in Contracts

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. As a condition precedent to Administrative Agent Agent, on behalf of Buyers Buyers, funding the Purchase Price for any Purchased Mortgage Loan subserviced serviced by a Servicer other than Seller, Administrative AgentBuyer, or an Affiliate of Administrative Agent, the Seller shall provide to Administrative Agent Agent, on behalf of Buyers, a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Administrative Agent Agent, on behalf of Buyers, 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 servicing of the related Purchased Mortgage Loans.

Servicer Notice. As a condition precedent to Administrative Agent Agent, on behalf of Buyers Buyers, funding the Purchase Price for any Purchased Mortgage Loan subserviced serviced by a Servicer other than Seller, Administrative AgentBuyer, or an Affiliate of Administrative Agent, the Seller shall provide to Administrative Agent Agent, on behalf of Buyers, a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Administrative Agent Agent, on behalf of Buyers, 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 servicing of the related Purchased Mortgage Loans.. ​