A Master Servicer definition

A Master Servicer s right to receive the Master Servicing Fees (and, in the case of the Servicer Report Administrator, the Servicer Report Administrator Fees) to which it is entitled may not be transferred in whole or in part except in connection with the transfer of all of such Master Servicer's responsibilities and obligations under this Agreement and except as otherwise expressly provided herein, including as contemplated by the prior paragraph.
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A Master Servicer s right to receive servicing compensation may not be transferred in whole or in part except in connection with the transfer of all of its responsibilities and obligations as a Master Servicer under this Agreement.
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A Master Servicer or Special Servicer shall be deemed to have complied with the foregoing provisions if an Affiliate thereof has such insurance and, by the terms of such policy or policies, the coverage afforded thereunder extends to such Master Servicer or Special Servicer, as the case may be. Any such errors and omissions policy shall provide that it may not be canceled without 30 days' prior written notice to the Trustee. (e) On the Closing Date, the Depositor shall deliver to and deposit with the Special Servicer the Group Terrorism Insurance Policy, and the Special Servicer shall hold and maintain the Group Terrorism Insurance Policy for so long as it is in effect. In the event that the Special Servicer gains actual knowledge of any act of terrorism at any of the Mortgaged Properties securing the Mortgage Loans identified on EXHIBIT B-1H, which gives rise to a loss for which a claim can be made under the Group Terrorism Insurance Policy (an "INSURED TERRORISM EVENT"), then the Special Servicer shall promptly notify the Trustee and, in accordance with the terms of the Group Terrorism Insurance Policy and the Servicing Standard, shall timely make a claim under the Group Terrorism Insurance Policy with the appropriate insurer and shall take such other actions in accordance with the Servicing Standard which are necessary under the Group Terrorism Insurance Policy in order to realize the full value thereof for the benefit of the Certificateholders. If any other party hereto has actual knowledge of an Insured Terrorism Event with respect to any Mortgage Loan identified on EXHIBIT B-1H, such party shall promptly so notify the Special Servicer. Any legal fees, premiums or other out-of-pocket costs incurred in accordance with the Servicing Standard in connection with any such claim under the Group Terrorism Insurance Policy shall, at the direction of the Special Servicer pursuant to SECTION 3.19(B), be paid by the Master Servicer and shall be reimbursable to the Master Servicer as a Servicing Advance. With respect to the Group Terrorism Insurance Policy, the Special Servicer shall review and familiarize itself with the terms and conditions relating to enforcement of claims and shall monitor the dates by which any claim must be made or any action must be taken under such policy in order to realize the full value thereof for the benefit of the Certificateholders in the event the Special Servicer has actual knowledge of an Insured Terrorism Event giving rise to a claim under such ...
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Examples of A Master Servicer in a sentence

  • A Master Servicer shall assume the defense of any such claim (with counsel reasonably satisfactory to such Master Servicer) and out of the Trust pay all expenses in connection therewith, including counsel fees, and out of the Trust promptly pay, discharge and satisfy any judgment or decree which may be entered against it or them in respect of such claim and satisfy any settlement or other disposition in respect of such claim.

  • A Master Servicer shall not be entitled to any reimbursement of any Compensating Interest Payment.

  • A Master Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Financed Student Loan.

  • A Master Servicer or an Affiliate of a Master Servicer or the Special Servicer or an Affiliate of the Special Servicer may become the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to) any Certificate with (except as set forth in the definition of "Certificateholder") the same rights it would have if it were not a Master Servicer or the Special Servicer or an Affiliate thereof.

  • A Master Servicer or Special Servicer shall be deemed to have complied with the foregoing provisions if an Affiliate thereof has such insurance and, by the terms of such policy or policies, the coverage afforded thereunder extends to such Master Servicer or Special Servicer, as the case may be.

  • A Master Servicer shall promptly report to the Issuer, the Indenture Trustee and the Surety Provider any failure on its part to hold the Financed Student Loan Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure.

  • A Master Servicer or Special Servicer shall be deemed to have complied with the foregoing provision if an Affiliate thereof has such fidelity bond coverage and, by the terms of such fidelity bond, the coverage afforded thereunder extends to such Master Servicer or Special Servicer, as the case may be.

  • A Master Servicer or the Special Servicer shall be deemed to have complied with the foregoing provision if an Affiliate thereof has such fidelity bond coverage and, by the terms of such fidelity bond, the coverage afforded thereunder extends to such Master Servicer or the Special Servicer, as the case may be.

  • A Master Servicer and any agent of such Master Servicer in its individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it were not a Master Servicer or such agent.

  • A Master Servicer will be permitted to require payment of a sum to be paid by the requesting party (other than the Rating Agencies, the Trustee, the Paying Agent, the Placement Agents or the Underwriters) sufficient to cover the reasonable costs and expenses of making such information available.


More Definitions of A Master Servicer

A Master Servicer or an Affiliate of a Master Servicer or the Special Servicer or an Affiliate of the Special Servicer may become the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to) any Certificate with (except as set forth in the definition of "Certificateholder") the same rights it would have if it were not a Master Servicer or the Special Servicer or an Affiliate thereof. If, at any time during which a Master Servicer or the Special Servicer or an Affiliate of a Master Servicer or the Special Servicer is the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to) any Certificate, such Master Servicer or the Special Servicer proposes to take action (including for this purpose, omitting to take action) that is not expressly prohibited by the terms hereof and would not, in such Master Servicer's or the Special Servicer's good faith judgment, violate the Servicing Standard, but that, if taken, might nonetheless, in such Master Servicer's or the Special Servicer's reasonable, good faith judgment, be considered by other Persons to violate the Servicing Standard, then such Master Servicer or the Special Servicer may (but need not) seek the approval of the Certificateholders to such action by delivering to the Certificate Administrator a written notice that (a) states that it is delivered pursuant to this Section 6.10, (b) identifies the Percentage Interest in each Class of Certificates beneficially owned by such Master Servicer or the Special Servicer or an Affiliate of such Master Servicer or the Special Servicer, and (c) describes in reasonable detail the action that such Master Servicer or the Special Servicer proposes to take. The Certificate Administrator, upon receipt of such notice, shall forward it to the Certificateholders (other than such Master Servicer and its Affiliates or the Special Servicer and its Affiliates, as appropriate), together with such instructions for response as the Certificate Administrator shall reasonably determine. If at any time Certificateholders holding greater than 50% of the Voting Rights of all Certificateholders (calculated without regard to the Certificates beneficially owned by such Master Servicer or its Affiliates or the Special Servicer or its Affiliates) shall have failed to object in writing to the proposal described in the written notice, and if such Master Servicer or the Special Servicer shall act as proposed in the written notice within 30 days, such a...
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Related to A Master Servicer

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • The Master Servicer has fully furnished and shall continue to fully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (e.g., favorable and unfavorable) on its borrower credit files to Equifax, Experian and Trans Union Credit Information Company or their successors on a monthly basis; and

  • Other Master Servicer means the applicable other “master servicer” under an Other Companion Loan Pooling and Servicing Agreement relating to a Non-Serviced Companion Loan or a Serviced Companion Loan, as applicable.

  • Special Servicer means the applicable special servicer with respect to the Mortgage Loan appointed as provided in the Lead Securitization Servicing Agreement.