Obligation to Make P&I Advances. The Receivables Seller and the Servicer hereby irrevocably appoint the Holder(s) of any Outstanding VFN with the authority (but no obligation) to make any P&I Advance on the Servicer’s behalf to the extent the Servicer fails to make such P&I Advance when required to do so pursuant to the related Designated Servicing Agreement.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Home Loan Servicing Solutions, Ltd.), Pooling and Servicing Agreement (Home Loan Servicing Solutions, Ltd.), Pooling and Servicing Agreement (Home Loan Servicing Solutions, Ltd.)
Obligation to Make P&I Advances. The Receivables Seller and the Servicer hereby irrevocably appoint the Holder(s) of any applicable Outstanding VFN with the authority (but no obligation) to make any P&I Advance on the Servicer’s behalf to the extent the Servicer fails to make such P&I Advance when required to do so pursuant to the related Designated Servicing Agreement.
Appears in 4 contracts
Samples: Subservicing Agreement (New Residential Investment Corp.), Indenture (Home Loan Servicing Solutions, Ltd.), Indenture (New Residential Investment Corp.)
Obligation to Make P&I Advances. The Receivables Seller and the Servicer hereby irrevocably appoint the Holder(sNoteholder(s) of any applicable Outstanding VFN with the authority (but no obligation) to make any P&I Advance on the Servicer’s behalf to the extent the Servicer fails to make such P&I Advance when required to do so pursuant to the related Designated Servicing Agreement.
Appears in 3 contracts
Samples: Indenture (Home Loan Servicing Solutions, Ltd.), Home Loan Servicing Solutions, Ltd., Home Loan Servicing Solutions, Ltd.
