Approved Subservicing Agreement definition

Approved Subservicing Agreement means any subservicing agreement approved in writing by Buyer (such approval not to be unreasonably withheld, conditioned or delayed) with an Approved Subservicer, as the context may require.

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Approved Subservicing Agreement means the Cenlar Subservicing Agreement, the Nationstar Subservicing Agreement and/or any other Subservicing Agreement approved in writing by the Administrative Agent with an Approved Subservicer, as the context may require.

Approved Subservicing Agreement means any subservicing agreement with an Approved Subservicer, as the context may require, subject to all respects to Freddie Mac’s consent to such subservicing agreement pursuant to the Freddie Mac Servicing Contract. For purposes of clarity, the Lender has no approval rights relating to any subservicing agreement as to a determination that such agreement is an Approved Subservicing Agreement.

Examples of Approved Subservicing Agreement in a sentence

Any engagement by Borrower of any subservicer or servicer to perform the servicing function with respect to Mortgage Loans for which Borrower is servicer of record for Freddie Mac under the Freddie Mac Servicing Contract, other than a Freddie Mac Approved Subservicer pursuant to a Freddie Mac Approved Subservicing Agreement, shall be void ab initio and of no force and effect.
Seller shall provide oversight of its Approved Subservicer to ensure the sound subservicing of the Mortgage Loans, in all material respects in accordance with Accepted Servicing Practices, the applicable Approved Subservicing Agreement and the G▇▇▇▇▇ M▇▇ Requirements.
The Borrower shall perform its obligations under each Approved Subservicing Agreement and shall not default under such Approved Subservicing Agreement.
Any engagement by Borrower of any subservicer or servicer to perform the servicing function with respect to the Freddie Mac Mortgage Loans for which Borrower is servicer of record for Freddie Mac under the Servicing Contracts, other than an Approved Subservicer pursuant to an Approved Subservicing Agreement, shall be void ab initio and of no force and effect.
PMC FMSR Parent shall provide oversight of its Approved Subservicer to ensure the sound subservicing of the Mortgage Loans, in all material respects in accordance with Accepted Servicing Practices, the applicable Approved Subservicing Agreement and the ▇▇▇▇▇▇ ▇▇▇ Requirements.
Parent shall provide oversight of its Approved Subservicer to ensure the sound subservicing of the Mortgage Loans, in all material respects in accordance with Accepted Servicing Practices, the applicable Approved Subservicing Agreement and the ▇▇▇▇▇▇ ▇▇▇ Requirements.
During the existence of an event of default or Subservicer Termination Event under any Approved Subservicing Agreement, PMC may, and at the direction of Administrative Agent, shall, subject to the ▇▇▇▇▇▇ ▇▇▇ Requirements, transfer the servicing relating to the Mortgage Loans to another Approved Subservicer.
Notwithstanding the foregoing, PMC may terminate any Approved Subservicer with respect to any or all of the Mortgage Loans or transfer subservicing from any Approved Subservicer with respect to any or all of the Mortgage Loans subserviced by such Approved Subservicer without the consent of Administrative Agent provided that such subservicing is transferred to another Approved Subservicer under an Approved Subservicing Agreement.
PMC shall (x) enforce each Approved Subservicing Agreement in accordance with the terms thereof and all applicable ▇▇▇▇▇▇ ▇▇▇ Requirements and keep such Approved Subservicing Agreement in full force and effect and (y) perform its obligations under each Approved Subservicing Agreement and shall not default in any material respect under such Approved Subservicing Agreement.
Notwithstanding the foregoing, subject in all respects to the ▇▇▇▇▇▇ ▇▇▇ Requirements, the Guarantor may terminate any Approved Subservicer with respect to any or all of the Mortgage Loans or transfer subservicing from any Approved Subservicer with respect to any or all of the Mortgage Loans subserviced by such Approved Subservicer without the consent of the Administrative Agent provided that such subservicing is transferred to another Approved Subservicer under an Approved Subservicing Agreement.

More Definitions of Approved Subservicing Agreement

Approved Subservicing Agreement means (i) the Flow Servicing Agreement between PMC and PennyMac Loan Services, LLC, dated as of June 1, 2022 and (ii) any subservicing agreement approved in writing by Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) with an Approved Subservicer, as the context may require.

Approved Subservicing Agreement means any subservicing agreement with an Approved Subservicer, as the context may require, subject to all respects to ▇▇▇▇▇▇▇ ▇▇▇’s consent to such subservicing agreement pursuant to the ▇▇▇▇▇▇▇ ▇▇▇ Servicing Contract. For purposes of clarity, the Lender has no approval rights relating to any subservicing agreement as to a determination that such agreement is an Approved Subservicing Agreement.