Amendments to Deferred Servicing Agreements; Transfer of Servicing Rights Sample Clauses
This clause governs how changes can be made to existing deferred servicing agreements and outlines the procedures for transferring servicing rights from one party to another. In practice, it typically requires that any amendments to the terms of deferred servicing agreements receive prior written consent from specified parties, and it sets forth the conditions under which servicing rights may be assigned or transferred, such as notification requirements or approval thresholds. The core function of this clause is to maintain control and oversight over modifications to servicing arrangements and to ensure that any transfer of servicing responsibilities is conducted transparently and with proper authorization, thereby protecting the interests of all parties involved.
Amendments to Deferred Servicing Agreements; Transfer of Servicing Rights. Seller hereby covenants and agrees not to amend the Servicing Agreements without Purchaser’s prior written consent. Seller shall not sell or otherwise voluntarily transfer servicing under any of the Deferred Servicing Agreement during the Consent Period except as expressly provided in this Sale Supplement or take any other actions inconsistent with Purchaser’s right to acquire ownership of Servicing Rights with respect to a Servicing Agreement upon receipt of the required Third Party Consents.