Common use of Foreclosure Proceedings, and Optional Purchase of Delinquent and Defaulted Mortgage Loans Clause in Contracts

Foreclosure Proceedings, and Optional Purchase of Delinquent and Defaulted Mortgage Loans. (a) For so long as (i) the Investor holds all of the Classes of Privately Offered Notes (other than any such Notes with respect to which a "will be debt" opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and (ii) has not forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo Servicing Agreement, the Master Servicer (A) shall promptly notify the Investor of its receipt of any Foreclosure Notice and any Non-Foreclosure Notice and (B) shall promptly notify the Investor of the Fair Value Prices (as defined in the Xxxxx Fargo Servicing Agreement) and related calculations of the purchase price of the Mortgage Loans determined pursuant to Section 4.02 of the Xxxxx Fargo Servicing Agreement. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the Privately Offered Notes (other than any such Note with respect to which a "will be debt" opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and the Servicer, as applicable, has notified the Master Servicer that the Investor has forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo Servicing Agreement, the Master Servicer shall provide the Servicer with an Expiration Notice indicating such event.

Foreclosure Proceedings, and Optional Purchase of Delinquent and Defaulted Mortgage Loans. (a) For so long as (i) the Investor holds all of the Classes of Privately Offered Notes (other than any such Notes with respect to which a "will be debt" opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and (ii) has not forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo related Servicing Agreement, the Master Servicer (A) shall promptly notify the Investor of its receipt of any Foreclosure Notice and any Non-Foreclosure Notice and (B) shall promptly notify the Investor of the Fair Value Prices (as defined in the Xxxxx Fargo related Servicing Agreement) and related calculations of the purchase price of the Mortgage Loans determined pursuant to Section 4.02 of the Xxxxx Fargo related Servicing Agreement. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the Privately Offered Notes (other than any such Note with respect to which a "will be debt" opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and the related Servicer, as applicable, has notified the Master Servicer that the Investor has forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo related Servicing Agreement, the Master Servicer shall provide the related Servicer with an Expiration Notice indicating such event.

Foreclosure Proceedings, and Optional Purchase of Delinquent and Defaulted Mortgage Loans. (a) For so long as (i) the Investor holds all of the Classes of Privately Offered Notes (other than any such Notes with respect to which a "“will be debt" ” opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and (ii) has not forfeited its rights set forth in Section 4.02 of the Xxxxx Wxxxx Fargo Servicing Agreement, the Master Servicer (A) shall promptly notify the Investor of its receipt of any Foreclosure Notice and any Non-Foreclosure Notice and (B) shall promptly notify the Investor of the Fair Value Prices (as defined in the Xxxxx Wxxxx Fargo Servicing Agreement) and related calculations of the purchase price of the Mortgage Loans determined pursuant to Section 4.02 of the Xxxxx Wxxxx Fargo Servicing Agreement. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the Privately Offered Notes (other than any such Note with respect to which a "“will be debt" ” opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and the Servicer, as applicable, has notified the Master Servicer that the Investor has forfeited its rights set forth in Section 4.02 of the Xxxxx Wxxxx Fargo Servicing Agreement, the Master Servicer shall provide the Servicer with an Expiration Notice indicating such event.

Foreclosure Proceedings, and Optional Purchase of Delinquent and Defaulted Mortgage Loans. (a) For so long as (i) the Investor holds all of the Classes of Privately Offered Notes (other than any such Notes with respect to which a "“will be debt" ” opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and (ii) has not forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo Servicing Agreement, the Master Servicer (A) shall promptly notify the Investor of its receipt of any Foreclosure Notice and any Non-Foreclosure Notice and (B) shall promptly notify the Investor of the Fair Value Prices (as defined in the Xxxxx Fargo Servicing Agreement) and related calculations of the purchase price of the Mortgage Loans determined pursuant to Section 4.02 of the Xxxxx Fargo Servicing Agreement. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the Privately Offered Notes (other than any such Note with respect to which a "“will be debt" ” opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and the Servicer, as applicable, has notified the Master Servicer that the Investor has forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo Servicing Agreement, the Master Servicer shall provide the Servicer with an Expiration Notice indicating such event.

Foreclosure Proceedings, and Optional Purchase of Delinquent and Defaulted Mortgage Loans. (a) For so long as (i) the Investor holds all of the Classes of Privately Offered Notes (other than any such Notes with respect to which a "“will be debt" ” opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and (ii) has not forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo related Servicing Agreement, the Master Servicer (A) shall promptly notify the Investor of its receipt of any Foreclosure Notice and any Non-Foreclosure Notice and (B) shall promptly notify the Investor of the Fair Value Prices (as defined in the Xxxxx Fargo related Servicing Agreement) and related calculations of the purchase price of the Mortgage Loans determined pursuant to Section 4.02 of the Xxxxx Fargo related Servicing Agreement. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the Privately Offered Notes (other than any such Note with respect to which a "“will be debt" ” opinion has been rendered by nationally recognized tax counsel and furnished to the Master Servicer) and the Certificates and the related Servicer, as applicable, has notified the Master Servicer that the Investor has forfeited its rights set forth in Section 4.02 of the Xxxxx Fargo related Servicing Agreement, the Master Servicer shall provide the related Servicer with an Expiration Notice indicating such event.