We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Subservicing Sample Clauses

Subservicing. (a) The Master Servicer may arrange for the subservicing of any Mortgage Loan by a subservicer (each, a "Subservicer") pursuant to a subservicing agreement (each, a "Subservicing Agreement"); provided that such subservicing arrangement and the terms of the related Subservicing Agreement must provide for the servicing of such Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Notwithstanding the provisions of any Subservicing Agreement, any of the provisions herein relating to agreements or arrangements between the Master Servicer or a Subservicer or reference to actions taken through the Master Servicer or otherwise, the Master Servicer shall remain obligated and liable to the Depositor, the Trust, the Trustee and the Certificateholders for the servicing and administration of the Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such Subservicing Agreements or arrangements or by virtue of indemnification from the Subservicer and to the same extent and under the same terms and conditions as if the Master Servicer alone were servicing and administering the Mortgage Loans, and neither the Trustee nor any other party shall have any obligations, duties or liabilities with respect to such Subservicer, including any obligation, duty or liability of the Trustee or any other party to pay such Subservicer's fees and expenses. For purposes of remittance to the Trustee pursuant to this Agreement, the Master Servicer shall be deemed to have received a payment on a Mortgage Loan when a Subservicer has received such payment. The Master Servicer shall be entitled to enter into an agreement with a Subservicer to provide for the delivery of reports and for indemnification of the Master Servicer by such Subservicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. Every subservicing agreement entered into by the Master Servicer shall contain a provision giving the Master Servicer the option to terminate such agreement and at the Master Servicer's option, service the related Mortgage Loans itself pursuant to this Agreement or arrange for any servicing responsibilities to be performed pursuant to the applicable Subservicing Agreement by a successor Subservicer. Any costs and expenses relating to such termination and transfer of servicing shall be the sole expense of the Master Servicer, without any right to ...
SubservicingThe Company shall not hire or otherwise utilize a subservicer or other subcontractor hereunder, or permit any subservicer or subcontractor to itself utilize the services of any subservicer or subcontractor, without the prior written consent of the Purchaser and its designee. Any such subservicer must agree in writing to comply with the provisions of Sections 6.04, 6.05, 6.08 and the fifth paragraph of Section 7.01 to the same extent as if such subservicer were the Company, and with this Section 6.09 and to provide such information relating to such subservicer as the Purchaser or its designee may request from time to time in order to permit the Purchaser or its designee to comply with Regulation AB in connection with any Securitization Transfer. Any subcontractor that performs any of the functions identified in Item 1122(d) of Regulation AB must agree in writing that, if the Purchaser determines that such subcontractor was “participating in the servicing function” within the meaning of Item 1122, such subcontractor will comply with the provisions of Sections 6.05 and 6.08 to the same extent as if such subcontractor were the Company.
Subservicing. WFS, as Master Servicer, shall not appoint, pursuant to Section 4.01 of the Sale and Servicing Agreement, any Subservicer that has not been approved in advance by Financial Security. WFS as Master Servicer shall not cause or permit to become effective any Subservicing Agreement that is in a form that varies substantially from the form thereof set forth as Exhibit E to the Sale and Servicing Agreement unless the form of such varying agreement shall have been approved in writing by Financial Security.
SubservicingThe Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Rating Agency Condition shall have been satisfied in connection therewith; and provided further that the Servicer shall remain obligated and be liable to the Issuer, the Trustee and the Securitization Bondholders for the servicing and administering of the Transferred Securitization Property in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Transferred Securitization Property. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuer, the Trustee or the Securitization Bondholders shall have any responsibility therefor. Any such appointment shall not constitute a Servicer resignation under Section 5.06.
Subservicing. (a) Each Subservicer shall be responsible for the servicing and administration of the Loans for which such Subservicer is designated as the Subservicer on the Loan Schedule; provided, however, that the Servicer may redesignate the Subservicers for particular Loans from time to time; provided, further, that any such redesignation will comply with licensing regulations applicable to such Subservicers. Each Subservicer shall service and administer the related Loans in accordance with the provisions of Section 3.01. As part of its servicing activities hereunder, the Servicer shall enforce the obligations of each Subservicer under this Agreement. Such enforcement, including, without limitation, the legal prosecution of claims, termination of Subservicers, and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Servicer, in its good faith business judgment, would require were it the owner of the related Loans. The Servicer shall pay the costs of such enforcement at its own expense.
SubservicingThe Mortgage Loans may be subserviced by a Subservicer on behalf of the Seller in accordance with the servicing provisions of the Interim Servicing Agreement, provided that (i) the Subservicer is a Freddie Mac seller/servicer in good standing, and no event has occurred, xxxxxding but not limited to, a change in insurance coverage, which would make it unable to comply with the eligibility requirements for seller/servicers imposed by Freddie Mac, or which would require notification to Freddie Mac and (ii) xxx Xurchaser approves any Subservicer in writing. Xxx Xxterim Servicer may perform any of its servicing responsibilities under the Interim Servicing Agreement or may cause the Subservicer to perform any such servicing responsibilities on its behalf, but the use by the Interim Servicer of a Subservicer shall not release the Interim Servicer from any of its obligations under the Interim Servicing Agreement and the Interim Servicer shall remain responsible under the Interim Servicing Agreement for all acts and omissions of a Subservicer as fully as if such acts and omissions were those of the Interim Servicer. The Interim Servicer shall pay all fees and expenses of any Subservicer engaged by the Interim Servicer from its own funds.
SubservicingThe Servicer shall not hire or otherwise utilize a subservicer hereunder without the prior written consent of the Owner and its designee. Any such subservicer must agree in writing to comply with Sections 4.04, 4.05, 4.10 and 4.11.
SubservicingThe Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Servicer shall not permit any Third Party to xxxx or collect Environmental Control Charges on behalf of the Issuer except (a) as a subcontractor under the active supervision of the Servicer or (b) as required by applicable Requirement of Law and to the extent permitted by applicable Requirement of Law or regulation, after written notice of such appointment is furnished to the Rating Agencies; provided further, however, that the Servicer shall remain obligated and be liable to the Issuer, the Indenture Trustee, and the Environmental Control Bondholders and the PSCWV for the servicing and administering of the Environmental Control Property in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Environmental Control Property. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuer (or its members or managers), the Indenture Trustee, any Environmental Control Bondholder or the PSCWV shall have any responsibility therefor.
Subservicing. Countrywide may enter into subservicing agreements or arrangements for the servicing and administration of any or all of the Mortgage Loans. Countrywide will remain obligated and primarily liable to the Purchaser for the servicing of the Mortgage Loans in accordance with the provisions of this Agreement, without diminution of such obligation or liability by virtue of the subservicing agreements or arrangements or by virtue of indemnification from the subservicer, and to the same extent and under the same terms and conditions as if Countrywide alone were servicing the Mortgage Loans. Countrywide will be solely liable for all fees owed by it to any subservicer.
SubservicingTo the extent necessary for the Master Servicer to comply with any applicable laws, regulations, codes or ordinances relating to the Master Servicer’s Loan Servicing obligations hereunder, the Master Servicer may subservice to any Person any of its Loan Servicing obligations hereunder; provided, however, that the Master Servicer shall provide oversight and supervision with regard to the performance of all subcontracted services and any subservicing agreement shall be consistent with and subject to the provisions of this Agreement. Neither the existence of any subservicing agreement nor any of the provisions of this Agreement relating to subservicing shall relieve the Master Servicer of its obligations to the Owner hereunder. Notwithstanding any such subservicing agreement, the Master Servicer shall be obligated to the same extent and under the same terms and conditions as if the Master Servicer alone was servicing the related Mortgage Loans in accordance with the terms of this Agreement. The Master Servicer shall be solely liable for all fees owed by it to any subservicer, regardless of whether the Master Servicer’s compensation hereunder is sufficient to pay such fees. Master Servicer shall each deliver to the Owner copies of all subservicing agreements, and any amendments or modifications, promptly upon execution and delivery of such documents.