Common use of Transfer Notices Clause in Contracts

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (b) The Owner shall notify, or cause to be notified, all Insurers, by overnight or registered mail, that all insurance premium ▇▇▇▇▇▇▇▇ for the Mortgage Loans must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Date. (d) The Owner shall notify all attorneys who, on the Effective Date, are providing legal services to or on behalf of the Owner in connection with pending foreclosure or litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (b) The Owner shall notify, or cause to be notified, all Insurers, by overnight or registered mail, that all insurance premium ▇b▇▇▇▇▇▇▇ for the Mortgage Loans must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Date. (d) The Owner shall notify all attorneys who, on the Effective Date, are providing legal services to or on behalf of the Owner in connection with pending foreclosure or litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.

Transfer Notices. (a) Within fifteen The Owner and the Servicer shall cooperatively (15) days before the applicable Effective Date with respect other than to the Mortgage Loansextent either party individually is subject to related requirements pursuant to applicable law, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in which case such party shall), in accordance with Applicable Requirements: (i) Provide or cause to be provided any notices to Borrowers of the transactions contemplated herein as required by applicable law and the Transfer Instructions. Within fifteen Applicable Requirements, including but not limited to, any transfer notice required by 24 C.F.R., Section 3500.21 (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer InstructionsRegulation X). The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (bii) The Owner shall notifyNotify, or cause to be notified, as applicable, all Insurersinsurers, by overnight or registered mail, that all insurance premium ▇▇▇▇▇▇▇▇ for related to the Mortgage Loans Assets must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Transfer Date, obtain or cause to be obtained the written consent of any Insurers insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (ciii) The OwnerNotify, with the reasonable assistance of the Serviceror cause to be notified, shall notify the applicable as applicable, taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Transfer Date. (div) The Owner shall notify Notify, or cause to be notified, as applicable, all attorneys who, on the Effective Transfer Date, are providing legal services to or on behalf of the Owner or with respect to the Assets in connection with pending litigation, including but not limited to foreclosure or litigation litigation, involving one or more of the Mortgage LoansAssets, of the transfer of the servicing function rights and obligations with respect to the Mortgage Loans Assets to the Servicer. (eb) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred assist Owner, at Owner’s expense, with respect to providing any notice of transfers to Borrowers required in connection with subsection (athe acquisition of the Assets by Owner, including, but not limited to, the notice of transfer required by 24 C.F.R. Section 3500.21(d)(2)(ii)(C) aboveand the notice required by 12 C.F.R. Section 226.39.

Transfer Notices. (a) Within fifteen The Owner and the Servicer shall cooperatively (15) days before the applicable Effective Date with respect other than to the Mortgage Loansextent either party individually is subject to related requirements pursuant to applicable law, the Owner shall cause any required notices (“Goodbye Letters”) to the Mortgagors of the transfer of the servicing function contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be prepared and delivered by or on behalf of the Owner in which case such party shall), in accordance with Applicable Requirements: (i) Provide or cause to be provided any notices to Borrowers of the transactions contemplated herein as required by applicable law and the Transfer Instructions. Within fifteen Applicable Requirements, including but not limited to, any transfer notice required by 24 C.F.R., Section 3500.21 (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and the Transfer InstructionsRegulation X). The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (bii) The Owner shall notifyNotify, or cause to be notified, as applicable, all Insurersinsurers, by overnight or registered mail, that all insurance premium ▇b▇▇▇▇▇▇▇ for related to the Mortgage Loans Assets must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Transfer Date, obtain or cause to be obtained the written consent of any Insurers insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (ciii) The OwnerNotify, with the reasonable assistance of the Serviceror cause to be notified, shall notify the applicable as applicable, taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicer) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Transfer Date. (div) The Owner shall notify Notify, or cause to be notified, as applicable, all attorneys who, on the Effective Transfer Date, are providing legal services to or on behalf of the Owner or with respect to the Assets in connection with pending litigation, including but not limited to foreclosure or litigation litigation, involving one or more of the Mortgage LoansAssets, of the transfer of the servicing function rights and obligations with respect to the Mortgage Loans Assets to the Servicer. (eb) The costs and expenses related to the notices required to be provided under Subsections (b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred assist Owner, at Owner’s expense, with respect to providing any notice of transfers to Borrowers required in connection with subsection (athe acquisition of the Assets by Owner, including, but not limited to, the notice of transfer required by 24 C.F.R. Section 3500.21(d)(2)(ii)(C) aboveand the notice required by 12 C.F.R. Section 226.39.

Transfer Notices. (a) Within fifteen (15) days before the applicable Effective Date with respect to Servicer initiates servicing under this Agreement, the Mortgage Loans, Servicer and the Owner shall cause provide any required notices (“Goodbye Letters”) notice to the Mortgagors of the transfer of the servicing function transactions contemplated herein to be delivered to the Mortgagors. Such Goodbye Letters shall be through notices prepared and delivered by or on behalf of the Owner in accordance with applicable law and the Transfer Instructions. Within fifteen (15) days before the applicable Effective Date with respect to the Mortgage Loans, the Servicer shall cause any required notices (“Hello Letters”) to the Mortgagors of the Servicer’s assumption of the servicing function contemplated herein to be delivered to the Mortgagors. Such Hello Letters shall be prepared and delivered by the Servicer in accordance with applicable law and Applicable Requirements including the Transfer Instructions. The parties shall cooperate to accomplish such notification in a timely and efficient manner as will best facilitate the assumption by the Servicer of the servicing responsibilities. The form of the Goodbye Letters and Hello Letters notice to be sent to Mortgagors shall be approved by the Owner and the Servicer before mailing. (b) The Owner shall notify, or cause to be notified, all Insurers, by overnight or registered mail, that all insurance premium ▇▇▇▇▇▇▇▇ for the Mortgage Loans must be sent to the Servicer. Additionally, the Owner shall, prior to the applicable Effective Date, obtain the written consent of any Insurers that have the contractual right to approve the assumption of the servicing responsibilities by the Servicer. (c) The Owner, with the reasonable assistance of the Servicer, shall notify the applicable taxing authorities (except as such is handled through the tax service company on any tax service contracts procured by the Servicercompany) of the assumption of the servicing responsibilities by the Servicer and include instructions to deliver all notices and tax bills to the Servicer or the applicable tax service provider, as the case may be, from and after the Effective Date. (d) The Owner shall notify all attorneys who, on the Effective Date, are providing legal services to or on behalf of the Owner in connection with pending foreclosure or litigation Litigation involving one or more of the Mortgage Loans, of the transfer of the servicing function rights and obligations with respect to the Mortgage Loans to the Servicer. (e) The costs and expenses related to the notices joint Mortgagor notice required to be provided under Subsections (bthis Section 2.22(a) shall be split. All notifications required to be made under Sections 2.22(b), (c) and (d) above shall be paid by the Owner. Each of Owner and Servicer shall be responsible for their respective costs incurred in connection with subsection (a) above.