Sub-Servicing Agreement Clause Samples
A Sub-Servicing Agreement clause defines the terms under which a party to a contract may delegate certain servicing responsibilities to a third party, known as a sub-servicer. This clause typically outlines the scope of services that can be subcontracted, the standards the sub-servicer must meet, and the original party’s ongoing obligations for oversight and liability. By establishing clear rules for delegation, the clause ensures that service quality and accountability are maintained even when tasks are performed by external providers, thereby managing risk and clarifying responsibilities.
Sub-Servicing Agreement. The written contract between the Seller and a Subservicer relating to servicing and administration of certain Mortgage Loans as provided in Subsection 11.29 of the Servicing Addendum.
Sub-Servicing Agreement. Any servicing agreement between a Servicer and a Sub-Servicer pursuant to which such Servicer delegates any of its servicing responsibilities with respect to any of the Non-Designated Mortgage Loans.
Sub-Servicing Agreement. Any servicing agreement between a Servicer and a Sub-Servicer pursuant to which such Servicer delegates any of its servicing responsibilities with respect to any of the Non-Designated Mortgage Loans. SunTrust: SunTrust Mortgage, Inc., a Virginia Corporation, and its successors and assigns.
Sub-Servicing Agreement. Any agreement between the Servicer and any Sub-Servicer, relating to servicing or administration of certain Mortgage Loans as provided in Section 5.02, in such form as has been approved by the Servicer and the Depositor.
Sub-Servicing Agreement. The written contract between the Master Servicer and a Sub-Servicer and any successor Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.
Sub-Servicing Agreement. (a) Notwithstanding Section 6.3(b) of the Servicing Agreement, the provisions of which are hereby waived, the Sub-Servicing Agreement is not terminated and continues on as set forth in this Section 5.
(b) In connection with its resignation as Master Servicer under the Servicing Agreement, the Resigning Servicer hereby assigns all of its rights, powers, trusts and duties as Master Servicer under the Sub-Servicing Agreement to the Successor Master Servicer, effective as of the Effective Time, and the Successor Master Servicer hereby assumes all of the rights, powers, trusts and duties of the Master Servicer under the Sub-Servicing Agreement, effective as of the Effective Time.
(c) This Agreement shall not constitute (i) a waiver by any of the parties hereto of any obligation or liability which the Resigning Master Servicer may have incurred in connection with its services as Master Servicer under the Sub-Servicing Agreement or (ii) an assumption by the Successor Master Servicer of any liability of the Resigning Master Servicer arising out of a breach by the Resigning Master Servicer of its duties under the Sub-Servicing Agreement. This Agreement does not constitute a waiver or assignment by the Resigning Master Servicer of any compensation, reimbursement, expenses or indemnity to which it is or may be entitled pursuant to the Sub-Servicing Agreement.
(d) GE Commercial Distribution Finance LLC, as Sub-Servicer under the Sub-Servicing Agreement, hereby acknowledges and agrees that, effective as of the Effective Time, the Successor Master Servicer shall be the Master Servicer under the Sub-Servicing Agreement and agrees to continue to sub-service the Transferred Receivables as agent for the Successor Master Servicer on the terms set forth in the Sub-Servicing Agreement. 2 Instrument of Resignation and Appointment –Master Servicer
Sub-Servicing Agreement. The written contract between the Servicer and a Subservicer relating to servicing and administration of certain HELOCs as provided in Section 2.26 of this Agreement.