Servicer's Determination Sample Clauses
The "Servicer's Determination" clause grants the servicer the authority to make decisions or judgments regarding specific matters outlined in the agreement. Typically, this clause applies to situations where the servicer must interpret contract terms, assess compliance, or decide on actions such as approving modifications or handling defaults. By centralizing decision-making power with the servicer, this clause streamlines administration and ensures timely, consistent responses to issues that arise during the servicing of the agreement.
Servicer's Determination. In the event a Borrower with a convertible ARM Loan exercises its option to convert such Mortgage Loan to a fixed interest rate, the Servicer will determine whether the conditions and qualifications for conversion have been met and determine the fixed rate to be applied to such Mortgage Loan pursuant to the terms of the related Mortgage Note.