Common use of Settlement Administrator Clause in Contracts

Settlement Administrator. 1. The Settlement Administrator appointed under “Exhibit B”, which is attached and incorporated herein, shall create a Qualified Settlement Fund within the meaning of Treasury Regulation Section 1.468B-1 of the U.S. Internal Revenue Code of 1986, as amended. The Settlement Administrator shall also establish a distribution account (the “Qualified Settlement Fund Distribution Account”) to receive from Nationstar (a) the deposit of the Borrower Payment Amount as provided in Section VII for borrower distributions, and (b) any portion of the Administrative Penalty and Administrative Costs that Nationstar deposits as provided for in Section VIII for distribution to Participating States.

Settlement Administrator. 1. The Settlement Administrator appointed under “Exhibit B”, which is B attached and incorporated herein, shall create a Qualified Settlement Fund within the meaning of Treasury Regulation Section 1.468B-1 of the U.S. Internal Revenue Code of 1986, as amended. The Settlement Administrator shall also establish a distribution account (the “Qualified Settlement ement Fund Distribution Account”) to receive Account from Nationstar (a) the deposit of the Borrower Payment Amount as provided in Section VII for borrower distributions, and (b) any portion of the Administrative Penalty and Administrative Costs that Nationstar deposits as provided for in Section VIII for distribution to Participating States.