Common use of Notification of Adjustments Clause in Contracts

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide or the Purchaser that Countrywide has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 22 contracts

Samples: Purchase and Servicing Agreement, Reconstituted Servicing Agreement (Zuni 2006-Oa1), Servicing Agreement (Thornburg Mortgage Securities Trust 2006-1)

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Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide Seller shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide Seller shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide Seller shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide Seller or the Purchaser that Countrywide Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide Seller shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 15 contracts

Samples: Servicing and Trust Agreement (GSAA Home Equity Trust 2007-8), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)

Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide Seller shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law Applicable Law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide Seller shall execute and deliver any and all necessary notices required under applicable law Applicable Law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide Seller shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide Seller or the Purchaser that Countrywide Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide Seller shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 11 contracts

Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-2), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Company shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Company shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Company shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Company, or the Purchaser that Countrywide the Company has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Company shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 11 contracts

Samples: Custodial Agreement (Bear Stearns ARM Trust 2006-4), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-3), Custodial Agreement (Bear Stearns ARM Trust 2007-5)

Notification of Adjustments. With respect to each Adjustable Non-Agency Mortgage Loan that is an Adjustable-Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the related Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, promptly deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and MortgageMortgage related to a Non-Agency Mortgage Loan, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.

Appears in 7 contracts

Samples: Flow Servicing Agreement (PennyMac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (PennyMac Mortgage Investment Trust)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide Servicer shall promptly, upon written request therefor, deliver to the Purchaser Seller such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide Servicer or the Purchaser Seller that Countrywide Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide Servicer shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser Seller thereby without reimbursement therefor.

Appears in 7 contracts

Samples: Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar1), Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3), Assignment, Assumption and Recognition Agreement (HASCO Trust 2007-He2)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Seller shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict shall be in compliance with the terms of the related Mortgage Note. Countrywide The Seller shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Seller shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Seller, or the Purchaser that Countrywide the Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Seller shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 6 contracts

Samples: Master Mortgage Loan Purchase and Servicing Agreement, Master Mortgage Loan Purchase and Servicing Agreement (HarborView 2006-11), Reconstituted Servicing Agreement (HarborView 2007-1)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer, or the Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 6 contracts

Samples: Mortgage Loan Purchase and Servicing Agreement (Sequoia Residential Funding Inc), Mortgage Loan Purchase and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3), Reconstituted Servicing Agreement (CSMC Mortgage-Backed Trust Series 2006-5)

Notification of Adjustments. With respect to each Adjustable Adjustable-Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, promptly deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.

Appears in 6 contracts

Samples: Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Seller shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Seller shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Seller shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Seller, or the any Purchaser that Countrywide the Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Seller shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind2), Assignment and Recognition Agreement (BCAP LLC Trust 2006-Aa2), Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa1)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide shall promptly, upon the written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide or the Purchaser that Countrywide has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 4 contracts

Samples: Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He2), Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He1), Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon Owner’s reasonable written request thereforrequest, deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer, or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.

Appears in 3 contracts

Samples: Flow Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3), Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Oa1), Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2)

Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.

Appears in 3 contracts

Samples: Flow Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A7), Flow Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S4), Flow Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 3 contracts

Samples: Servicing Agreement (Franklin Finance Corp), Servicing Agreement (D&n Capital Corp), Servicing Agreement (Flagstar Capital Corp)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage ARM Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 2 contracts

Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp), Servicing Agreement (Chevy Chase Preferred Capital Corp)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Interim Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Interim Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Interim Servicer shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Interim Servicer, or the any Purchaser that Countrywide the Interim Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Interim Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Sabr Trust 2005-Fr3), Indemnification and Contribution Agreement (Sabr Trust 2005-Fr2)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide or the Purchaser that Countrywide has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 2 contracts

Samples: Mortgage Loan Purchase and Servicing Agreement (Sequoia Residential Funding Inc), Mortgage Loan Purchase and Servicing Agreement (Sequoia Mortgage Trust 2006-1)

Notification of Adjustments. With respect to each Adjustable Variable Rate Mortgage Loan, Countrywide the Seller shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Seller shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Seller shall promptly, promptly upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Seller or the Purchaser that Countrywide the Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Seller shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss actually caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 2 contracts

Samples: Commercial Servicing Agreement (Peoples Preferred Capital Corp), Commercial Servicing Agreement (Peoples Preferred Capital Corp)

Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide Seller shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide Seller shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide Seller shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide Seller or the Purchaser that Countrywide Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide Seller shall immediately within two (2) Business Days deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 1 contract

Samples: Mortgage Loan Sale and Servicing Agreement (GSAA Home Equity Trust 2006-16)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 1 contract

Samples: Servicing Agreement (First Nationwide Preferred Capital Corp)

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Notification of Adjustments. With respect to each Adjustable Non-Agency Mortgage Loan that is an Adjustable-Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law Applicable Law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the related Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law Applicable Law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, promptly deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and MortgageMortgage related to a Non-Agency Mortgage Loan, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.

Appears in 1 contract

Samples: Flow Servicing Agreement (PennyMac Financial Services, Inc.)

Notification of Adjustments. With respect to each Adjustable Non-Agency Mortgage Loan that is an Adjustable-Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law Applicable Law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the related Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law Applicable Law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, promptly deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and MortgageMortgage related to a Non-Agency Mortgage Loan, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.

Appears in 1 contract

Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary neces- sary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 1 contract

Samples: Servicing Agreement (California Federal Preferred Capital Corpation)

Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide Seller shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided provided, that such selection does not conflict with the terms of the related Mortgage Note. Countrywide Seller shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide Seller shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide Seller or the Purchaser that Countrywide Seller has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide Seller shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

Notification of Adjustments. With respect to each Adjustable Non-Agency Mortgage Loan that is an Adjustable-Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the related Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, promptly deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and MortgageMortgage related to a Non-Agency Mortgage Loan, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.. 42 NY1 8630204v.6

Appears in 1 contract

Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide shall promptly, upon written request thereforherefore, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide or the Purchaser that Countrywide has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefortherefore.

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Luminent Mortgage Trust 2006-6)

Notification of Adjustments. With respect to each Adjustable Non-Agency Mortgage Loan that is an Adjustable-Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the related Mortgage Note, another index Index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index Index will be used with respect to each Mortgage Note which requires a new index Index to be selected, selected provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefor, promptly deliver to the Purchaser Owner such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser Owner that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and MortgageMortgage related to a Non-Agency Mortgage Loan, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser Owner thereby without reimbursement therefor.. 42

Appears in 1 contract

Samples: Flow Servicing Agreement

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index Index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict shall be in compliance with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser and the Guarantor such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer, the Purchaser or the Purchaser Guarantor that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Minimum Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Servicing Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Servicing Agreement (Harborview Mortgage Loan Trust 2006-Cb1)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide shall promptly, upon written request therefor, deliver to the related Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide or the related Purchaser that Countrywide has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the such Purchaser thereby without reimbursement therefor.

Appears in 1 contract

Samples: Confidentiality Agreement (Luminent 2006-5)

Notification of Adjustments. With respect to each Adjustable Rate Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer, or the any Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 1 contract

Samples: Indemnification and Contribution Agreement (Sabr Trust 2005-Fr2)

Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide the Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Servicer shall promptly, upon written request therefortherefore, deliver to the Purchaser such notifications and a description of any additional applicable data date regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Servicer or the Purchaser that Countrywide the Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Servicer shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 1 contract

Samples: And Servicing Agreement (Banc of America Funding 2006-5 Trust)

Notification of Adjustments. With respect to each Adjustable Rate ARM Mortgage Loan, Countrywide each Servicer shall adjust the Mortgage Interest Rate on the related Interest Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer available, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide Each Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide Each Servicer shall promptly, upon written request therefor, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide a Servicer or the Purchaser that Countrywide a Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the applicable Servicer shall immediately deposit in the Custodial Account, from its own funds, the amount of any interest loss caused the Purchaser thereby without reimbursement therefor.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (J.P. Morgan Alternative Loan Trust 2006-A1)

Notification of Adjustments. With respect to each Adjustable Rate adjustable rate Mortgage Loan, Countrywide the Interim Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate because the original index is no longer availableRate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. Countrywide The Interim Servicer shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Countrywide The Interim Servicer shall promptly, promptly upon written request thereforthereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by Countrywide the Interim Servicer, or the any Purchaser that Countrywide the Interim Servicer has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, Countrywide the Interim Servicer shall immediately deposit in the Custodial Account, Account from its own funds, funds the amount of any interest loss caused the Purchaser thereby without reimbursement thereforthereby.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He3)

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