DEFAULT MANAGEMENT. 1. Bidders will have to deposit an amount equal to 5.22 % of trade value as EMD (Xxxxxxx Margin Deposit& Transaction Charges plus applicable GST) in Escrow account provided by Service Provider prior to bidding. Once the auction initiated, no request for EMD deposit / confirmation will be entertained. The 5% EMD will be adjusted in balance 95% payment to be made by the successful bidder in NAFED account & Service Provider Transaction Charges will be adjusted through balance EMD of 0.22 %. The Successful bidder(s) shall make 95% payment in the mentioned account details of NAFED within five bank working days from the date of sale confirmation (excluding the date of sale confirmation). In case, non receipt of 95% payment deposit within stipulated time, the allotment shall be cancelled and 5% Xxxxxxx Money would be forfeited”.
2. The initial deposit of EMD shall not carry interest and will be refunded without interest to the unsuccessful bidders.
DEFAULT MANAGEMENT. Bidders will have to deposit an amount equal to 5.22 % of trade value as EMD (Xxxxxxx Margin Deposit& Transaction Charges plus applicable GST) in Escrow account provided by Service Provider prior to bidding. Once the auction initiated, no request for EMD deposit / confirmation will be entertained. The 5% EMD will be adjusted in balance 95% payment to be made by the successful bidder in NAFED account & Service Provider Transaction Charges will be adjusted through balance EMD of 0.22 %. The Successful bidder(s) shall make 95% payment in the mentioned account details of NAFED within five bank working days from the date of sale confirmation (excluding the date of sale confirmation). In case, non receipt of 95% payment deposit within stipulated time, the allotment shall be cancelled and 5% Xxxxxxx Money would be forfeited”.
DEFAULT MANAGEMENT. Contributor will provide debt management services on behalf of New University to current and former New University students to assist in the management of debt load.
DEFAULT MANAGEMENT. With respect to any Mortgage Loan that transfers to Purchaser on the related Transfer Date and which is past due under the terms of the Mortgage Note, or with respect to any Bankruptcy Loan, Foreclosure Loan, or Litigation Loan, Seller shall, not earlier than a date fifteen (15) days prior to the related Transfer Date or such earlier date as may be mutually agreed upon by Seller and Purchaser, provide Purchaser with written notice of all actions required to be performed by a servicer within thirty (30) days after the related Transfer Date, which are either known to Seller, or should be known to Seller in the performance of its duties as a servicer, and which are required to assure compliance with any insurer or guarantor requirements. Seller shall cooperate with and assist Purchaser, as reasonably requested by Purchaser, in providing information and assistance in connection with the orderly transition of the default management function from Seller to Purchaser.
DEFAULT MANAGEMENT. 21.1 In theeventthe Recipient is in defaultunderthis Agreement, the partieswillmeet to reviewthesituation.
21.2 Notwithstandingsubsection 21.1, in theeventthe Recipient is in defaultunderthis Agreement, the Ministermay take one or more of the following actions as may reasonably be necessary, having regard to the nature and extent of the default:
21.2.1 requirethe Recipient to developandimplement a Management Action Planwithinsixty(60) calendar days,orat suchothertime asthepartiesmayagreeuponandsetoutinwriting;
21.2.2 require the Recipient to seek advisory support acceptable to the Minister;
21.2.3 appoint, upon providingnotice to the Recipient, a Third Party Funding Agreement Manager;
21.2.4 withhold any Funding otherwise payable;
21.2.5 require the Recipient to take any reasonable action necessary to remedy the default;
21.2.6 take such other reasonable action as the Minister deems necessary; and/or 21.2.7 terminate this Agreement.
21.3 In addition to the remedies available to the Minister set out in section 21.2, where the Recipient defaults in its obligation to providethe Ministerwiththe Financial Statements Packageunderthetermsandconditions of this Agreement, the Minister may:
21.3.1 requirethat an independentauditorrecognized in the Province / Territory in whichthe Recipient has its administrativeoffices be appointedimmediately by the Recipient at the Recipient'scost to preparethe Financial Statements Packageandanyotherfinancialreportsthatmay beoutstanding underthis Agreement;
21.3.2 appoint an independentauditorrecognized in the Province / Territory in whichthe Recipienthas its administrative offices and in which case:
(a) the Recipientwillprovidetheauditorappointed by the Ministerwithfullaccess to its financial records and provide such other information as the auditor may require to prepare the Financial Statements Package; and
(b) theRecipientwillreimbursetheMinisterforallcostsincurred inhavingtheFinancial Statements Package prepared.
DEFAULT MANAGEMENT. With respect to any Serviced Mortgage Loan that transfers to Servicing Assets Purchaser on a Servicing Assets Settlement Date and which is past due under the terms of the Mortgage Note, or with respect to any Serviced Mortgage Loan (i) that is affected by a bankruptcy which has been filed; (ii) on which (x) a foreclosure has been completed or commenced or which has been forwarded to an attorney to commence foreclosure or (y) a deed-in-lieu of foreclosure has been accepted or is pending; or (iii) which is in any stage of litigation (excluding class action litigation where a named plaintiff is not a borrower of a Mortgage Loan included in the Servicing Rights), or which is the subject of an injunction or settlement requiring Sellers to take action or affecting the origination or servicing of the Serviced Mortgage Loan(s), and which has a material adverse effect on the Serviced Mortgage Loan or the Servicing Rights associated with such Serviced Mortgage Loan, Sellers shall, not earlier than a date fifteen (15) days prior to such Servicing Assets Settlement Date or such earlier date as may be mutually agreed upon by Sellers and Servicing Assets Purchaser, provide Servicing Assets Purchaser with written notice of all actions required to be performed by a servicer within thirty (30) days after such Servicing Assets Settlement Date, which are either known to Sellers, or should be known to Sellers in the performance of its duties as a servicer under Applicable Requirements, and which are required to assure compliance with any Insurer or guarantor requirements. Sellers shall cooperate with and assist Servicing Assets Purchaser, as reasonably requested by Servicing Assets Purchaser, in providing information and assistance in connection with the orderly transition of the default management function from Sellers to Servicing Assets Purchaser.
DEFAULT MANAGEMENT. With respect to any Mortgage Loan that transfers to Purchaser on the Closing Date and which is past due under the terms of the Mortgage Note, or with respect to any Mortgage Loan (i) that is affected by a bankruptcy which has been filed; (ii) on which (x) a foreclosure has been completed or commenced or which has been forwarded to an attorney to commence foreclosure or (y) a deed-in-lieu of foreclosure has been accepted or is pending; or (iii) which is in any stage of litigation (excluding class action litigation where a named plaintiff is not a borrower of a Mortgage Loan included in the Servicing Rights), or which is the subject of an injunction or settlement requiring Seller to take action or affecting the origination or servicing of the Mortgage Loan(s), and which has a material adverse effect on the Mortgage Loan or the Servicing Rights associated with such Mortgage Loan, Seller shall, not earlier than a date fifteen (15) days prior to the Closing Date or such earlier date as may be mutually agreed upon by Seller and Purchaser, provide Purchaser with written notice of all actions required to be performed by a servicer within thirty (30) days after the Closing Date, which are either known to Seller, or should be known to Seller in the performance of its duties as a servicer under Applicable Requirements, and which are required to assure compliance with any Insurer or guarantor requirements. Seller shall cooperate with and assist Purchaser, as reasonably requested by Purchaser, in providing information and assistance in connection with the orderly transition of the default management function from Seller to Purchaser.
DEFAULT MANAGEMENT. Servicer shall have no obligation or authority to pursue default remedies with respect to any Specially Serviced Mortgaged Loan. A "
DEFAULT MANAGEMENT. Charge has the meaning and shall be the amount calculated in accordance with Framework Schedule 5 (Management Information Requirements);
DEFAULT MANAGEMENT. Collections, power dialer download, credit bureau, field service, early indicator and risk profiler interfaces, and default — loss mitigation, foreclosure, bankruptcy, claims, and REO.
