Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to the Custodial File, the Custodian shall give written specification of such defect to the Servicer and the Trustee. For purposes of this Section, “
Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to the Custodial File, the Custodian shall give written specification of such defect to the Purchaser. For purposes of this section, “defect” shall mean a failure of a document to correspond to the information set forth in the Mortgage Loan Schedule or the absence of a Mortgage File or any part thereof or any other document required pursuant to this Agreement. The Seller shall be solely responsible for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking any such action, causing the Seller or any other person or entity to do so or notify any person that ay such action has or has not been taken.
Future Defects. During the term of this Agreement, if Custodian discovers any defect with respect to the Mortgage Loan Files, Custodian shall promptly give written specification of such defect to Seller and Purchaser, within one (1) Business Day of discovery of such defect (in the form of the Custodian Loan Transmission and Exception Report). For purposes of this Section, “
Future Defects. During the term of this Custodial Agreement, if the Custodian discovers any defect with respect to any Custodial File, the Custodian shall give written specification of such defect to the Trustee and the Seller. In accordance with the terms of the Pooling and Servicing Agreement, the Seller shall be responsible for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking any such action, causing the Seller or any other person or entity to do so or notifying any person that any such action has or has not been taken.
Future Defects. During the term of this Agreement, the Custodian shall immediately notify the Agent and the Borrower of any defect with respect to an Investment File or any failure on its part to hold the Investment Files as herein provided.
Future Defects. During the term of this Agreement, if the Collateral Agent discovers any defect set forth in Section 2.07(a) or 2.07(c) with respect to the items certified pursuant to Section 2.06 with respect to any Custodial Loan File, the Collateral Agent shall give written specification of such defect to the Trust, the Servicer, the Note Purchaser and the Indenture Trustee.
Future Defects. During the term of this Custodial Agreement, if the Custodian discovers any defect with respect to the Custodial File, the Custodian shall give written specification of such defect to the Trustee.
Future Defects. During the term of this Agreement, if Custodian discovers (without duty of inquiry, other than as expressly required by Section 3 of this Agreement) any document that is missing or is not in compliance with Section 3(b)(i) with respect to the Asset Files, Custodian shall give written specification of such defect to each Seller and Buyer.
Future Defects. During the term of this Custodial Agreement, if the Custodian discovers with respect to any document in a Custodial File non-conformity to the criteria set forth in Section 4(a) or 4(b), the Custodian shall give written specification of such non-conformity to the Trustee and the Master Servicer (which written specification may be made via a list of exceptions attached to a Trust Receipt).
Future Defects. During the term of this Agreement, if the Custodian discovers any defect with respect to a Custodial File, the Custodian shall give prompt written notice of such defect to the Purchaser. The Purchaser, or its designee, shall be solely responsible for providing each and every document required for the Custodial File to the Custodian in a timely manner and for completing or correcting any missing, incomplete or inconsistent documents, and the Custodian shall not be responsible or liable for taking any such action, causing the Company or any other Person to do so or notifying any Person that any such action has or has not been taken (except to the extent of noting any existing defects as provided herein).
