PAYOFFS. No Mortgage Loans prepaid in full prior to the Closing Date;
PAYOFFS. Payoff letters from those creditors listed in Section 7.1(e) of the Disclosure Schedules;
PAYOFFS o The Master Servicer has 2 Business Days to confirm the payoff amount including any required prepayment premium from the date it is provided by the Primary Servicer. o If approval of the Special Servicer is required, to the extent such request is not made directly to the Special Servicer by the Primary Servicer, the Master Servicer shall forward its recommendation to the Special Servicer within such 2 Business Day period and shall immediately upon receipt of the Special Servicer's decision (not to exceed 1 Business Day) advise the Primary Servicer of such decision or, if applicable, immediately (not to exceed 1 Business Day) advise the Primary Servicer that the Special Servicer's time to respond lapsed without a response. o Failure of the Master Servicer to respond within the timeframes specified above will be deemed a waiver of its right to consent and as such the recommendation of the Primary Servicer shall be deemed approved. LETTER OF CREDIT RENEWALS AND RELEASES o The Master Servicer has 5 Business Days to respond to the recommendation of the Primary Servicer from the date of receipt of Primary Servicer's recommendation. o If approval of the Special Servicer is required, to the extent such request is not made directly to the Special Servicer by the Primary Servicer, the Master Servicer shall forward its recommendation to the Special Servicer within such 5 Business Day period and shall immediately upon receipt of the Special Servicer's decision (not to exceed 1 Business Day) advise the Primary Servicer of such decision or, if applicable, immediately (not to exceed 1 Business Day) advise the Primary Servicer that the Special Servicer's time to respond lapsed without a response. o Failure of the Master Servicer to respond within the timeframes specified above will be deemed a waiver of its right to consent and as such the recommendation of the Primary Servicer shall be deemed approved. o If a release of the Letter of Credit is approved, the party holding the Letter has a 5 Business Day period to release.
PAYOFFS. Subservicer shall process all Mortgage Loan Payoffs and Loan Document satisfactions/reconveyances in compliance with Agency Requirements and Applicable Law. Subservicer shall not act or fail to act in any manner which may result in imposition of any penalty for late satisfaction/reconveyance of a Mortgage Loan. Servicer shall reimburse Subservicer for recording fees imposed for the recording of satisfactions/reconveyances required by applicable law to be recorded by the lender, and which cannot, under applicable law, be imposed upon the Borrower.
PAYOFFS. Role: Any prepayment quote, including any required prepayment premium, must be forwarded to the Master Servicer for verification. Timing (Interaction with Master Servicer): The Master Servicer has 2 Business Days from the date the quote is provided by the Primary Servicer to confirm the amount. Failure of the Master Servicer to respond to the Primary Servicer's request within 2 Business Days shall be deemed a waiver of its right to verify such prepayment quote. Fee: No fee will be charged for pay off quotes.
PAYOFFS. All Payoffs received by the Servicer with respect to the Mortgage Loan must be accepted by the Servicer. For purposes of this Uniform Reporting Supplement, the term "Payoff" shall mean a payment received by the Servicer with respect to the Mortgage Loan equal to the entire unpaid principal balance, together with accrued interest thereon, plus any other charges or payments due under the terms of the Mortgage Loan. In connection with the receipt of the Payoff, the Servicer must not assess any prepayment penalties against the Mortgagor unless the Mortgage Loan specifically authorizes the right to assess prepayment penalties.
PAYOFFS. The “Trade Payoff” shown on the final sales agreement is, to the best of our knowledge, the amount required by the lien holder to release title plus the cost of two overnight airbills plus 15 days per diem interest from the date of delivery. In the event that the amount shown under the “Trade Payoff” on the final sales agreement is less than the actual amount required to release all liens and encumbrances associated with the traded vehicle, the Customer agrees to pay HMB and difference between the Trade Payoff shown on the final Sales Agreement and the actual amount required. TAXES
PAYOFFS. The Subservicer shall process payoffs by quoting ------- amounts due, accepting payoff amounts, stamping Receivable documents "Paid" and returning them to the Obligors, and arranging for the certificates of title to be released for return to the Obligors or designated persons authorized to pay off the Receivables.
