Master Servicing Clause Samples

Master Servicing. Subject to Applicable Requirements, the master servicing functions related to the Servicing Rights under the applicable Servicing Agreement, Client Contract and this Agreement, including, without limitation, the REMIC administrator obligations to the extent applicable pursuant with the terms of (1) the Agreement (unless expressly set forth in Exhibit R) and (2) the applicable Servicing Agreement, operational functions of receiving and reconciling funds from SBO Servicers, reconciling servicing activity with respect to servicing performed by SBO Servicers, calculating remittance amounts to certificateholders, sending remittances to the trustee for distributions to certificateholders, investor and tax reporting, bond administration, coordinating loan repurchases, overseeing of servicing of the SBO Servicers, approving SBO Servicers’ requests for non-delegated activities, and/or management and liquidation of REO Properties (including appraisals and brokerage services).

Master Servicing. First Union National Bank will be the Master Servicer of the Mortgage Loans pursuant to the terms and conditions of the Pooling and Servicing Agreement. ARTICLE VI

Master Servicing. For a period of two years from the Closing Date, prior to entering into any agreement with any third party to act as master servicer on any loan securitization effected by any Hanover Entity, such Hanover Entity shall, within one business day's notice prior to entering such agreement, first offer such right to act as master servicer on any loan securitization effected by the Seller to the Purchaser on the same terms and conditions as it would offer such master servicing to such third party. In the event that the Purchaser declines such offer, such Hanover Entity shall have no further obligation to the Purchaser with respect to such master servicing offered with respect to the related loan securitization.

Master Servicing