RETENTION AND AUTHORITY OF SERVICER Sample Clauses

RETENTION AND AUTHORITY OF SERVICER. Section 2.01 Engagement; Servicing Standard. 23 Section 2.02 Subservicing 25 Section 2.03 Authority of the Servicer or the Special Servicer 26 Section 2.04 Certain Calculations 28 ARTICLE III SERVICES TO BE PERFORMED Section 3.01 Servicing; Special Servicing 28 Section 3.02 Escrow Accounts; Collection of Taxes, Assessments and Similar Items 31 Section 3.03 Collection Account and Participated Mortgage Loan Collection Account 32 Section 3.04 Permitted Investments 36 Section 3.05 Maintenance of Insurance Policies 36 Section 3.06 Delivery and Possession of Servicing Files 38 Section 3.07 Inspections; Financial Statements 38 Section 3.08 Exercise of Remedies upon Mortgage Loan Defaults 39
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RETENTION AND AUTHORITY OF SERVICER. Section 2.01 Engagement; Servicing Standard.
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RETENTION AND AUTHORITY OF SERVICER. Section 2.01 Engagement; Servicing Standard. 28 Section 2.02 Subservicing. 30 Section 2.03 Authority of the Servicer or the Special Servicer. 31 Section 2.04 Certain Calculations. 33 ARTICLE III SERVICES TO BE PERFORMED Section 3.01 Servicing; Special Servicing. 34 Section 3.02 Escrow Accounts; Collection of Taxes, Assessments and Similar Items. 36 Section 3.03 Collection Account. 37 Section 3.04 Permitted Investments. 39 Section 3.05 Maintenance of Insurance Policies. 40 Section 3.06 Delivery and Possession of Servicing Files. 41 Section 3.07 Inspections; Financial Statements. 42 Section 3.08 Exercise of Remedies upon Commercial Real Estate Loan Defaults. 42
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RETENTION AND AUTHORITY OF SERVICER. Section 2.01. Engagement; Servicing Standard 6 Section 2.02. Subservicing 6 Section 2.03. Authority of the Servicer 6 ARTICLE III SERVICES TO BE PERFORMED Section 3.01. Services as Investment Servicer 8 Section 3.02. Escrow Accounts; Collection of Taxes, Assessments and Similar Items 9 Section 3.03. Owner Collection Accounts 9 Section 3.04. Permitted Investments 10 Section 3.05. Maintenance of Insurance Policies 11 Section 3.06. Delivery and Possession of Servicing Files 11 Section 3.07. Inspections 12
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RETENTION AND AUTHORITY OF SERVICER. Section 2.01 Engagement; Servicing Standard............................... 6 Section 2.02 Subservicing................................................. 7 Section 2.03 Authority of the Servicer.................................... 8 ARTICLE III. SERVICES TO BE PERFORMED
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RETENTION AND AUTHORITY OF SERVICER. Section 2.01 Engagement, Servicing Standard. 6 Section 2.02 Subservicing. 6 Section 2.03 Authority of the Servicer. 7 ARTICLE III SERVICES TO BE PERFORMED Section 3.01 Services as Loan Servicer. 8 Section 3.02 Escrow Accounts; Collection of Taxes, Assessments and Similar Items 10 Section 3.03 Remittances to Collection Account. 11 Section 3.04 Permitted Investments. 11 Section 3.05 Maintenance of Insurance Policies. 12 Section 3.06 Delivery and Possession of Servicing Files. 12 Section 3.07 “Due-on-Sale” Clauses; Assumption Agreements; Payoffs. 13 Section 3.08 Actions Upon a Material Default on a Mortgage Loan. 13 Section 3.09 Modifications, Waivers, Amendments and Consents. 13 Section 3.10 Realization Upon Defaulted Mortgage Loans; Servicing of REO Properties. 14 ARTICLE IV DOCUMENTS, STATEMENTS AND REPORTS Section 4.01 Reporting by the Servicer; Legal Documentation. 14 ARTICLE V SERVICER’S COMPENSATION AND EXPENSES Section 5.01 Servicing Compensation. 15 Section 5.02 Servicing Expenses. 15
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RETENTION AND AUTHORITY OF SERVICER. Section 2.01 Engagement, Servicing Standard 5 Section 2.02 Delegation to Property Managers 5 Section 2.03 Authority of the Servicer 6 ARTICLE III SERVICES TO BE PERFORMED Section 3.01 Services to be performed by Servicer 6 Section 3.02 Specific Duties of Property Managers; Servicer Notifications to Owner 9 Section 3.03 Approval of Contracts 11 Section 3.04 Records 11 Section 3.05 Mortgaged Properties to be Serviced by Servicer 11 Section 3.06 General Purpose Account 12 ARTICLE IV
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RETENTION AND AUTHORITY OF SERVICER 
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Related to RETENTION AND AUTHORITY OF SERVICER

  • Organization and Authority of Seller Seller is a corporation duly organized, validly existing and in good standing under the Laws of the state of Idaho. Seller has full power and authority to (a) own, operate or lease the properties and assets now owned, operated or leased by it and to carry on its business as it has been and is currently conducting, (b) enter into this Purchase Agreement and the other Transaction Documents to which Seller is a party, and (c) to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Seller of this Purchase Agreement and any other Transaction Document to which Seller is a party, the performance by Seller of its obligations hereunder and thereunder and the consummation by Seller of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Seller. The board of directors of Seller have determined that the Purchase Price is a fair price for the assets to be conveyed by this Purchase Agreement and that the transactions contemplated by the Transaction Documents are in the best interests of Seller and have approved each Transaction Document. Each Transaction Document has been duly executed and delivered by Seller, and (assuming due authorization, execution and delivery by Buyer) each Transaction Document constitutes a legal, valid and binding obligation of Seller enforceable against Seller in accordance with its terms, except as may be limited by bankruptcy, insolvency, moratorium, or other similar laws affecting or relating to creditors’ rights generally.

  • Organization and Authority of the Purchaser The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the Cayman Islands and has all necessary corporate power and authority to enter into this Agreement and the Ancillary Agreements to which it is a party, to carry out its obligations hereunder and thereunder and to timely consummate the transactions contemplated hereby and thereby. The Purchaser is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the properties owned or leased by it or the operation of its business makes such licensing or qualification necessary, except to the extent that the failure to be so licensed or qualified and in good standing would not (a) materially adversely affect the ability of the Purchaser to carry on its business or (b) individually or in the aggregate, reasonably be expected to have a Purchaser Material Adverse Effect. The execution and delivery by the Purchaser of this Agreement and the Ancillary Agreements to which it is a party, the performance by the Purchaser of its obligations hereunder and thereunder and the consummation by the Purchaser of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of the Purchaser and its shareholders. This Agreement has been, and upon their execution the Ancillary Agreements to which the Purchaser is a party shall have been, duly executed and delivered by the Purchaser, and (assuming due authorization, execution and delivery by the Seller) this Agreement constitutes, and upon their execution the Ancillary Agreements to which the Purchaser is a party shall constitute, legal, valid and binding obligations of the Purchaser, enforceable against the Purchaser in accordance with their respective terms, subject to the effect of any applicable bankruptcy, insolvency (including all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting creditors’ rights generally and subject to the effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity). No action by the shareholders of the Purchaser is necessary, including, without limitation, pursuant to Nasdaq rules and regulations, to authorize this Agreement and the Ancillary Agreements or to timely consummate the transactions contemplated hereby and thereby (including the issuance of the Purchaser Shares comprising the Consideration). The Purchaser is and will at all times be in full compliance with all Nasdaq rules and regulations with respect to the absence of a shareholder vote in connection with the authorization of this Agreement and the Ancillary Agreements (including the issuance of the Purchaser Shares comprising the Consideration).

  • Arbitrator Selection and Authority All disputes involving Arbitrable Claims shall be decided by a single arbitrator. The arbitrator shall be selected by mutual agreement of the parties within thirty (30) days of the effective date of the notice initiating the arbitration. If the parties cannot agree on an arbitrator, then the complaining party shall notify the AAA and request selection of an arbitrator in accordance with the AAA Employment Rules. The arbitrator shall have only such authority to award equitable relief, damages, costs, and fees as a court would have for the particular claim(s) asserted. The fees of the arbitrator shall be paid equally by the parties. If the allocation of responsibility for payment of the arbitrator’s fees would render the obligation to arbitrate unenforceable, the parties authorize the arbitrator to modify the allocation as necessary to preserve enforceability. The arbitrator shall have exclusive authority to resolve all Arbitrable Claims, including, but not limited to, whether any particular claim is arbitrable and whether all or any part of this Agreement is void or unenforceable.

  • Authorization and Authority Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrower shall not have rights as a third party beneficiary of any of such provisions.

  • Evidence and Authority to Trustee Acquiror and/or ExchangeCo shall furnish to the Trustee evidence of compliance with the conditions provided for in this Agreement relating to any action or step required or permitted to be taken by Acquiror and/or ExchangeCo or the Trustee under this Agreement or as a result of any obligation imposed under this Agreement, including in respect of the Voting Rights or the Exchange Right or the Automatic Exchange Rights and the taking of any other action to be taken by the Trustee at the request of or on the application of Acquiror and/or ExchangeCo promptly if and when:

  • Existence and Authority The Company is a corporation duly organized and validly existing in good standing under the laws of its jurisdiction of incorporation and has full power and authority to own its respective property, carry on its respective business as no being conducted, and enter into and perform its obligations under this Agreement and to issue and deliver the Shares to be issued by it hereunder. The Company is duly qualified as a jurisdiction in which it is necessary to be so qualified to transact business as currently conducted. This Agreement, has been duly authorized by all necessary corporate action, executed, and delivered by the Company, and constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights of creditors generally and to general principals of equity.

  • Due Organization and Authority The Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all licenses necessary to carry on its business as now being conducted and is licensed, qualified and in good standing in each state where a Mortgaged Property is located if the laws of such state require licensing or qualification in order to conduct business of the type conducted by the Servicer, and in any event the Servicer is in compliance with the laws of any such state to the extent necessary to ensure the enforceability of the terms of this Agreement; the Servicer has the full power and authority to execute and deliver this Agreement and to perform in accordance herewith; the execution, delivery and performance of this Agreement (including all instruments of transfer to be delivered pursuant to this Agreement) by the Servicer and the consummation of the transactions contemplated hereby have been duly and validly authorized; this Agreement evidences the valid, binding and enforceable obligation of the Servicer and all requisite action has been taken by the Servicer to make this Agreement valid and binding upon the Servicer in accordance with its terms;

  • Organization and Authority of Buyer Buyer is a corporation duly organized, validly existing and in good standing under the Laws of the state of Delaware. Buyer has full corporate power and authority to enter into this Agreement and the other Transaction Documents to which Buyer is a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Buyer of this Agreement and any other Transaction Document to which Buyer is a party, the performance by Buyer of its obligations hereunder and thereunder and the consummation by Buyer of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer, and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms. When each other Transaction Document to which Buyer is or will be a party has been duly executed and delivered by Buyer (assuming due authorization, execution and delivery by each other party thereto), such Transaction Document will constitute a legal and binding obligation of Buyer enforceable against it in accordance with its terms.

  • Incorporation and Authority The Company is an exempted company, duly incorporated, validly existing and in good standing under the laws of the Cayman Islands, and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. This Agreement is a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

  • Organization and Authority The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

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