Notice of Breach of Representations and Warranties; Repurchase Request Clause Samples
The "Notice of Breach of Representations and Warranties; Repurchase Request" clause establishes the process by which a party must notify the other if it discovers that a representation or warranty made in the agreement has been breached. Typically, this involves providing written notice detailing the specific breach and may trigger the right to request that the breaching party repurchase the affected asset or otherwise remedy the issue. This clause ensures that breaches are promptly addressed and provides a clear mechanism for resolving such issues, thereby protecting the interests of the non-breaching party and maintaining the integrity of the transaction.
Notice of Breach of Representations and Warranties; Repurchase Request. Following receipt of the applicable Loan Purchase Agreement, the Master Servicer shall provide a copy of the applicable Loan Purchase Agreement to the Sub-Servicer. The Sub-Servicer shall notify the Master Servicer in writing within five (5) Business Days after the Sub-Servicer (a) discovers or receives notice alleging a Document Defect or a Breach (without implying any duty of the Sub-Servicer to make, or to attempt to make, such a discovery), (b) receives a Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection, or (c) receives a Certificateholder Repurchase Request or a PSA Party Repurchase Request, in each case with respect to a Mortgage Loan. The Sub-Servicer shall also provide to the Master Servicer (a) a copy of any such Repurchase Request, Certificateholder Repurchase Request or PSA Party Repurchase Request received by the Sub-Servicer and (b) such other information in the possession of the Sub-Servicer requested by the Master Servicer as would permit the Master Servicer to comply with its obligations under Section 2.03 of the Pooling and Servicing Agreement.
Notice of Breach of Representations and Warranties; Repurchase Request. Following its receipt from the Depositor, the Master Servicer shall provide a copy of the JPM Mortgage Loan Purchase Agreement to the Primary Servicer. The Primary Servicer shall promptly notify in writing the Master Servicer upon becoming aware of any breach of any representations and warranties contained in the JPM Mortgage Loan Purchase Agreement or a document defect that could give rise to a cure or repurchase obligation. The Primary Servicer shall cooperate with the master servicer in pursuing its obligations to make a repurchase claim against the related Mortgage Loan Seller. The Primary Servicer shall notify the Master Servicer in writing within five (5) Business Days after the Primary Servicer discovers or receives notice alleging a Defect or a Breach or receives a Repurchase Request or a withdrawal of a Repurchase Request. Within five (5) Business Days after receipt, the Primary Servicer shall provide to the Master Servicer a copy of any written Repurchase Request received by the Primary Servicer and thereafter shall promptly provide to the Master Servicer such other information in the possession of the Primary Servicer reasonably requested by the Master Servicer to fulfill its obligations under Section 2.02(g) of the Pooling and Servicing Agreement.