Examples of Subservicer in a sentence
Seller shall deliver (or cause the related Servicer or Subservicer to deliver) the Servicing Records and the physical and contractual servicing of each Purchased Asset, to Buyer or its designee upon the termination of Seller or Servicer as the servicer pursuant to Section 42.
No fraud, material omission, misrepresentation, negligence or similar occurrence with respect to the Mortgage Loan has taken place on the part of the Seller, any Subservicer or any other Person involved in the origination of the Mortgage Loan, including the Customer, any builder or developer or any appraiser.
All documents relating to Purchased Loans in the possession of the Seller or its designee (including its agent, or any Subservicer) shall be segregated from other documents and securities in its or its designee’s possession and shall be identified as being owned by the Buyers and held by the Agent on behalf of the Buyers (which shall be referenced in the relevant books and records as “JPMorgan Chase Bank, N.A., Agent”) and subject to this Agreement.
The Seller shall, prior to the initial Purchase Date of Purchased Loans serviced by any Subservicer, provide to the Buyers a Subservicer Instruction Letter addressed to and agreed to by such Subservicer of the related Purchased Loans.
Neither the Seller nor any Subservicer has waived the performance by the Customer of any action, if the Customer’s failure to perform such action would cause the Mortgage Loan to be in default, and neither the Seller nor any Subservicer has waived any default resulting from any action or inaction by the Customer.