Servicing Transfer Date Clause Samples
The 'Servicing Transfer Date' clause defines the specific date on which the responsibility for servicing a loan or portfolio of loans is officially transferred from one servicer to another. In practice, this clause establishes the exact moment when the new servicer assumes duties such as collecting payments, managing escrow accounts, and handling borrower communications. By clearly specifying this date, the clause ensures a smooth transition of servicing responsibilities and helps prevent confusion or disputes between the parties involved.
Servicing Transfer Date. The Servicer agrees, with respect to the Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Flow Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Flow Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full. On the Transfer Date (i.e., the date selected by mutual agreement of the parties for the transfer of the servicing of the Mortgage Loans), the Servicer shall transfer all servicing of the Mortgage Loans in accordance with the Flow Agreement and the Purchase Agreements to the successor servicer designated by the Seller.
Servicing Transfer Date. The Servicer agrees, with respect to the Serviced Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Interim Servicing Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Interim Servicing Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full. The parties hereto acknowledge and agree that the Servicing Transfer Date with respect to the Mortgage Loans is April 1, 2004. On such date, the Servicer shall transfer all servicing of the Mortgage Loans in accordance with the Interim Servicing Agreement and the Purchase Agreement to the successor servicer designated by the Seller. The Seller hereby designates Aurora to act as the Servicer of the Mortgage Loans on and after the Servicing Transfer Date and to service such Mortgage Loans pursuant to an existing servicing agreement between the Seller and Aurora.
Servicing Transfer Date. The Servicer agrees, with respect to the Serviced Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Interim Servicing Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Interim Servicing Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full. The parties hereto acknowledge and agree that the Servicing Transfer Date with respect to the Mortgage Loans is September 1, 2004 (or such later date as may be agreed upon by the parties hereto). On such date, the Servicer shall transfer all servicing of the Mortgage Loans in accordance with the Interim Servicing Agreement and the Purchase Agreement to the successor servicer designated by the Seller. The Seller hereby designates Aurora to act as the Servicer of the Mortgage Loans on and after the Servicing Transfer Date and to service such Mortgage Loans pursuant to an existing servicing agreement between the Seller and Aurora.
Servicing Transfer Date. The Servicer agrees, with respect to the Serviced Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Flow Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Flow Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full. The parties hereto acknowledge and agree that the Transfer Date with respect to the Mortgage Loans is February 1, 2002. On such date, the Servicer shall transfer all servicing of the Mortgage Loans in accordance with the Flow Agreement and the Purchase Agreement to the successor servicer designated by the Seller. The Seller hereby designates Aurora Loan Services, Inc. ("ALS") to act as the Servicer of the Mortgage Loans on and after the Transfer Date and to service such Mortgage Loans pursuant to an exisiting servicing agreement between the Seller and ALS.
Servicing Transfer Date. On the Servicing Transfer Date, the Seller shall comply with the Servicing Transfer Procedures and deliver to the Purchaser the Mortgage Files and any other Mortgage Loan Documents or servicing-related documents in the Seller’s possession for each related Mortgage Loan. With respect to the mechanics of Mortgage Loan servicing transfer, to the extent any provision of this Agreement conflicts with any provision of the Servicing Transfer Procedures, the provisions set forth in the Agreement shall control. As further described in Section 4.08, any fees and expenses incurred by or on behalf of the Seller in transferring the Mortgage Files and such other documents to the Purchaser shall be the obligation of the Seller. With respect to each Mortgage Loan, the Seller shall cause all funds in any Escrow Account, Distribution Account or Collection Clearing Account to be transferred to the Purchaser no later than the second (2nd) Business Day following the Servicing Transfer Date. Subject to the terms and conditions of this Agreement and unless another standard of effort is expressly set forth in this Agreement or in the Servicing Transfer Procedures, the parties shall cooperate in good faith with each other and use their respective commercially reasonable efforts to accomplish the transfer of the Servicing Rights in accordance with the Servicing Transfer Procedures on the Servicing Transfer Date. In addition to any documents and files to be delivered by the Seller to the Purchaser pursuant to the Servicing Transfer Procedures, no later than the Servicing Transfer Date or such other date specified, the Seller shall deliver to the Purchaser the following items or take the following actions, as applicable:
(a) Seller shall have paid, performed or discharged all of its liabilities and obligations accruing before the Servicing Transfer Date relating to the Servicing Rights, including any repurchase and indemnity obligation pursuant to the applicable Third Party Servicing Agreement and/or Investor Guidelines, that are unpaid or unfulfilled as of such date (except for (i) the Recourse Obligations with respect to the Tagged Loans and (ii) liabilities or obligations with respect to payments to be made by a servicer on behalf of Borrowers, such as property taxes and insurance, that are not due and payable until after the Servicing Transfer Date).
(b) At least forty-five (45) days prior to the Servicing Transfer Date, the Seller shall have provided to the Purchaser records as ...
Servicing Transfer Date. The Interim Servicer agrees, with respect to the Serviced Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Master Servicing Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Master Servicing Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full. The parties hereto acknowledge and agree that the Transfer Date with respect to the Mortgage Loans is June 1, 2002. On such date, the Interim Servicer shall transfer all servicing of the Mortgage Loans in accordance with the Master Servicing Agreement and the Master Mortgage Loan Purchase Agreement to the successor servicer designated by the Bank. The Bank hereby designates Aurora Loan Services, Inc. ("ALS") to act as the Interim Servicer of the Mortgage Loans on and after the Transfer Date and to service such Mortgage Loans pursuant to an existing servicing agreement between the Bank and ALS.
Servicing Transfer Date. The Servicer agrees, with respect to the Serviced Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Interim Servicing Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Interim Servicing Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full. The parties hereto acknowledge and agree that the Servicing Transfer Date with respect to the Mortgage Loans is September 1, 2003. On such date, the Servicer shall transfer all servicing of the Mortgage Loans in accordance with the Interim Servicing Agreement and the Purchase Agreement to the successor servicer designated by the Seller. The Seller hereby designates Aurora to act as the Servicer of the Mortgage Loans on and after the Servicing Transfer Date and to service such Mortgage Loans pursuant to an existing servicing agreement between the Seller and Aurora.
Servicing Transfer Date. On the Servicing Transfer Date:
(m) Purchaser shall commence Servicing, and Seller shall cease all Servicing activity related to, the Mortgage Loans for which the Mortgage Servicing Rights are transferred on such Servicing Transfer Date; and
(n) Seller shall provide Purchaser or Purchaser’s designee with an executed Limited Power of Attorney in the form attached hereto as Exhibit I (the “Limited Power of Attorney”) to be used by Purchaser or Purchaser’s designee as necessary for Purchaser or Purchaser’s designee to service the applicable Mortgage Loans in accordance with Applicable Requirements. To the extent reasonably necessary after expiration of the Limited Power of Attorney provided on the Servicing Transfer Date, Seller shall provide additional Limited Powers of Attorney to Purchaser upon Purchaser’s request.
Servicing Transfer Date. (a) The Interim Servicer will service all Mortgage Loans serviced by it pursuant to the terms of the Interim Servicing Agreement during the Interim Servicing Period. Neither Servicer shall be obligated to perform any duties or responsibilities under this Agreement with respect to a related Mortgage Loan until the servicing rights to such Mortgage Loan have been transferred to such Servicer on the Servicing Transfer Date. On the Servicing Transfer Date, the related Servicer agrees to accept the servicing of the Mortgage Loans previously serviced by the Interim Servicer. Each Servicer agrees to cooperate with the Interim Servicer to effectuate the timely transfer of servicing from the Interim Servicer to such Servicer on the related Servicing Transfer Date. Neither Servicer shall be liable for any actions or inactions of any prior servicer of a Mortgage Loan prior to the Servicing Transfer Date nor shall any action or inaction by a prior servicer be deemed an Event of Default with respect to such Servicer. Each Servicer shall confirm that the Mortgage Loans on the Mortgage Loan Schedule have been transferred for servicing to such Servicer and shall notify the Depositor, the Master Servicer, the Securities Administrator and the Trustee promptly following the completion of such transfer on the Servicing Transfer Date.
Servicing Transfer Date. March 6, 2026 or such other date as agreed to by mutual agreement of Purchaser and the Interim Servicer.