MSR Portfolio Defense Sample Clauses

MSR Portfolio Defense. (a) On each date when a mortgage loan becomes a Mortgage Loan under the Subservicing Agreement, such Mortgage Loan shall automatically and without further notice or action be subject to this Agreement; provided, however, with respect to the first [***] Refinanced Locked Mortgage Loans, [***] of such Refinanced Locked Mortgage Loans shall not become subject to this Agreement (the “Retained Mortgage Loans”) and, as to such Retained Mortgage Loans, the Subservicer shall be entitled to retain the new mortgage servicing rights related thereto without payment to the MSR Owner. In order to determine the allocation of Refinanced Locked Mortgage Loans into Retained Mortgage Loans or Defended Loans, the Refinanced Locked Mortgage Loans closed in any calendar month shall be allocated on an alternating basis by increasing loan number (such that, by way of example, the Refinanced Locked Mortgage Loan with the lowest loan number shall be a Retained Mortgage Loan, the Refinanced Locked Mortgage Loan with the second lowest loan number shall be a Defended Loan, and so forth); provided that, any Refinanced Locked Mortgage Loan which is a Xxxxxx Xxx Mortgage Loan shall be allocated (and deemed) as a Retained Mortgage Loan. Following the allocation of the [***] Retained Mortgage Loan to the Subservicer, all the successive Refinanced Locked Mortgage Loans shall be allocated as Defended Loans.
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Related to MSR Portfolio Defense

  • Portfolio Transactions The Manager is authorized to select the brokers or dealers that will execute the purchases and sales of portfolio securities for the Portfolio and is directed to use its best efforts to obtain the best available prices and most favorable executions, except as prescribed herein. It is understood that the Manager will not be deemed to have acted unlawfully, or to have breached a fiduciary duty to the Fund or to the Portfolio, or be in breach of any obligation owing to the Fund or to the Portfolio under this Agreement, or otherwise, solely by reason of its having caused the Portfolio to pay a member of a securities exchange, a broker, or a dealer a commission for effecting a securities transaction for the Portfolio in excess of the amount of commission another member of an exchange, broker, or dealer would have charged if the Manager determines in good faith that the commission paid was reasonable in relation to the brokerage or research services provided by such member, broker, or dealer, viewed in terms of that particular transaction or the Manager’s overall responsibilities with respect to its accounts, including the Fund, as to which it exercises investment discretion. The Manager will promptly communicate to the officers and directors of the Fund such information relating to transactions for the Portfolio as they may reasonably request.

  • Servicing Programs No license or approval is required for the Administrative Agent’s use of any software or other computer program used by the Servicer, any Originator or any Sub-Servicer in the servicing of the Pool Receivables, other than those which have been obtained and are in full force and effect.

  • Additional Portfolios In the event that any Fund establishes one or more series of Shares in addition to those set forth on Appendix A hereto with respect to which it desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such series of Shares shall become a Portfolio hereunder.

  • Performance and Compliance with Receivables and Contracts At its expense, timely and fully perform and comply with all material provisions, covenants and other promises, if any, required to be observed by the Issuer under the Contracts related to the Receivables.

  • Characteristics of Receivables As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable:

  • New Portfolio The Trust hereby authorizes MID to participate in the distribution of Class A Shares of the following new portfolio (“New Portfolio”) on the terms and conditions contained in the Agreement: Met/Artisan International Portfolio

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