Interim Servicing Term definition

Interim Servicing Term is defined in Section 13(a).
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Interim Servicing Term has the meaning set forth in Paragraph 13(a).
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Interim Servicing Term is defined in Section 19.1. “Internal Revenue Code” means the Internal Revenue Code of 1986 or any subsequent federal income tax law or laws, as amended from time to time. “Investment Property Loan Sublimit” is defined in the table set forth in Section 4.2(d). “Investment Property Mortgage Loan” means an Agency Mortgage Loan secured by Mortgaged Premises which are not occupied by the Customer, which has been underwritten by the Approved Investor who issued an Investor Commitment that covers it and whose underwriting, Investor Commitment, appraisal and all related documentation that the Agent elects to review are approved by the Agent. “Investor Commitment” means an unexpired written commitment held by the Seller from an Approved Investor to buy Purchased Loans, and that specifies (a) the type or item(s) of Purchased Loan, (b) a purchase date or purchase deadline date and (c) a purchase price or the criteria by which the purchase price will be determined. “Investor Guidelines” means (i) the eligibility requirements established by the Approved Investor that must be satisfied by a Mortgage Loan originator to sell Mortgage Loans to the Approved Investor and (ii) the specifications that a Mortgage Loan must meet, and the requirements that it must satisfy, to qualify for the Approved Investor’s program of Mortgage Loan purchases, as such requirements and specifications may be revised, supplemented or replaced from time to time. “Jumbo Loan Sublimit” is defined in the table set forth in Section 4.2(d). “Jumbo Mortgage Loan” means a Mortgage Loan that (a) would be an Agency Mortgage Loan except that the original principal amount is more than the maximum Agency loan amount, (b) conforms to the eligibility criteria set forth in Schedule JML, including maximum Loan To Value, maximum original principal balance and minimum Customer FICO score and (c) other than with respect to any Non-Chase Jumbo Mortgage Loan, is subject to an Investor Commitment issued by CL. The term “Jumbo Mortgage Loan” does not include Agency Mortgage Loans, Government Mortgage Loans, RHS Mortgage Loans or State Bond Mortgage Loans. “Legal Requirement” means any law, statute, ordinance, decree, ruling, treaty, requirement, order, judgment, rule or regulation (or interpretation of any of them), including any of the foregoing that relate to environmental standards or controls, energy regulations and occupational safety and health standards or controls, of any (domestic or foreign) court or other Go...
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Examples of Interim Servicing Term in a sentence

  • In the event Seller is terminated as interim servicer of any Purchased Mortgage Loan, whether by expiry of the Interim Servicing Term or by any other means, Seller shall cooperate with Buyer in effecting such termination and transferring all authority to interim service such Purchased Mortgage Loan to the Successor Servicer.

  • Buyer shall have the right to appoint a successor interim servicer, or a regular servicer, to service any Purchased Mortgage Loan (each a “ Successor Servicer”) at any time (i) after the occurrence of a Default or an Event of Default, or (ii) before the pending expiration of the Interim Servicing Term (such appointment pursuant to this clause(ii) to be effective upon such expiration).

  • The Interim Servicing Term will automatically terminate and Seller shall have no further obligation to interim service such Purchased Mortgage Loan as agent for Buyer or to make the delivery of documents required under this Section 12, upon receipt by Buyer of the Repurchase Price therefor.

  • The Interim Servicing Term will automatically terminate and Seller shall have no further obligation to interim service such Purchased Mortgage Loan as agent for Buyer or to make the delivery of documents required under this Section 13, upon receipt by Buyer of the Repurchase Price therefor.

  • For planning purposes, each Region’s cost share of the TWE DC Project will be calculated based on its share of the calculated benefits provided to the Region by the TWE DC Project (as quantified per that Region’s planning process).

  • Buyer reserves the right to appoint a successor interim servicer, or a regular servicer, to commence the servicing of the Purchased Mortgage Loans (each a “ Successor Servicer”) upon the termination of Seller’s right to interim service the Purchased Mortgage Loans pursuant to Section 13(a)(v) or the expiry or termination of the Interim Servicing Term pursuant to Section 13(a) (vi).

  • The Interim Servicing Term will automatically terminate and Seller shall have no further obligation to interim service such Purchased Mortgage Loan as agent for Buyer or to make the delivery of documents required under this Paragraph, upon receipt by Buyer of the Repurchase Price therefor.

  • The Interim Servicing Term will be deemed renewed on each Remittance Date succeeding the related Purchase Date unless (i) Seller has previously been terminated as interim servicer of all of the Purchased Mortgaged Loans or (ii) an Event of Default has occurred on or before such Remittance Date, in which latter event the Interim Servicing Term will expire on such Remittance Date unless Buyer gives written notice to Seller that the Interim Servicing Term is renewed and specifying the renewal term.


More Definitions of Interim Servicing Term

Interim Servicing Term is defined in Paragraph 12(b). “IRC” means the Internal Revenue Code of 1986, as amended from time to time and any successor statute. “Jumbo Loan” means a Mortgage Loan which conforms to all Agency Guidelines except that its principal amount is greater than Agency limits for Conventional Conforming Loans.
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Related to Interim Servicing Term

  • Interim Servicing Period The period from the Closing Date to the related Servicing Transfer Date.

  • Interim Servicer The servicer under the Interim Servicing Agreement, or its successor in interest, or any successor to the Interim Servicer under the Interim Servicing Agreement, as therein provided.

  • Servicing Transfer Date The date on which a Servicing Transfer occurs.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Period Servicing Amount means, for any twelve month period with respect to each of the Shared-Loss Agreements during which the loss-sharing provisions of the applicable Shared-Loss Agreement are in effect, the product of (i) the simple average of the principal amount of Shared-Loss Loans and Shared-Loss Assets (other than the Shared-Loss Securities) (in each case as defined in the Shared-Loss Agreements), as the case may be, at the beginning of such period and at the end of such period times (ii) one percent (1%).

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).