Common use of Foreclosure Proceedings Clause in Contracts

Foreclosure Proceedings. For so long as the Investor or an Affiliate thereof, (i) holds all of the Classes of the Subordinate Certificates and (ii) has not forfeited its rights set forth in the related Servicing Agreements, the Master Servicer (A) shall promptly notify the Investor, as Controlling Class Holder, 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 related Servicing Agreements) and related calculations of the purchase price of the Mortgage Loans determined pursuant to the related Servicing Agreements. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the the Subordinate Certificates and the related Servicer, as applicable, and that has forfeited its rights set forth in the related Servicing Agreement, the Master Servicer shall provide the related Servicer with an Expiration Notice indicating such event.

Foreclosure Proceedings. For so long as the Investor or an Affiliate thereof, (i) holds all of the Classes of the Subordinate Certificates and (ii) has not forfeited its rights set forth in the related Servicing Agreements, the Master Servicer (A) shall promptly notify the Investor, as Controlling Class Holder, 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 related Servicing Agreements) and related calculations of the purchase price of the Mortgage Loans determined pursuant to the related Servicing Agreements. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the the Subordinate Certificates and the related Servicer, as applicable, and that has forfeited its rights set forth in the related Servicing Agreement, the Master Servicer shall provide the related Servicer with an Expiration Notice indicating such event.

Foreclosure Proceedings. For so long as the Investor or an Affiliate thereof, (i) holds all of the Classes of the Subordinate Certificates and (ii) has not forfeited its rights set forth in the related Servicing Agreements, the Master Servicer (A) shall promptly notify the Investor, as Controlling Class Holder, 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 related Servicing Agreements) and related calculations of the purchase price of the Mortgage Loans determined pursuant to the related Servicing Agreements. In the event that the Investor has notified the Master Servicer in writing that the Investor no longer holds all of the the Subordinate Certificates and the related Servicer, as applicable, and has notified the Master Servicer that the Investor has forfeited its rights set forth in the related Servicing Agreement, the Master Servicer shall provide the related Servicer with an Expiration Notice indicating such event.