Exception Basis definition
Exception Basis. With respect to the Defaulted And Qualified Loan Exception Report provided by the Servicer hereunder, a report that is required only in the event that information or data exists for the reporting period to which such report relates.
Exception Basis means a type of time reporting whereby basic regular hours are assumed by the system and only those hours that are not regular, such as overtime, are reported.
Examples of Exception Basis in a sentence
The report provided on an Exception Basis to F▇▇▇▇▇ Mac by the Master Servicer pursuant to Section 5.01(g), providing information with respect to all Defaulted Loans and Qualified Loans identified by F▇▇▇▇▇ Mac as “watch-listed” loans.
The report provided on an Exception Basis to ▇▇▇▇▇▇ Mac by the Master Servicer pursuant to Section 5.01(g), providing information with respect to all Defaulted Loans and Qualified Loans identified by ▇▇▇▇▇▇ Mac as “watch-listed” loans.