Local Servicer definition

Local Servicer shall have the meaning assigned to such term Section 2.01(c) of the Servicing Agreement.
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Examples of Local Servicer in a sentence

  • Local Realised Loss AllocationAny Realised Loss incurred with respect to Eligible Receivables during a Collection Period will be reported in the related Local Servicer Report.

  • For so long as the Local Servicer is both the Local Originator and the Local Servicer such amounts may be netted.

  • The parties to the Existing U.S. Servicing Agreement hereby agree that, as of the New Originator Effective Date, clause (d) of the preamble to the Existing U.S. Servicing Agreement defining “ U.S. Originators” and “Local Servicers” shall be deemed to include a reference to the New Originator, and that the New Originator shall be a party to the Existing U.S. Servicing Agreement as a U.S. Originator and a Local Servicer.

  • Distributions under Local Trust CertificatesThe Local Servicer of the pools of Permitted Assets held by a Local Trustee will be directed to remit Collections received from the Obligors during each Collection Period into the Local Collection Account of such Local Trustee on the Local Payment Date relating to such Collection Period.

  • Settlement on Local Payment Dates Settlement MechanicsOn each Local Payment Date, the payment obligations specified below owed by: (a) each Local Issuer to the Offshore Trustee (and vice versa); and (b) (for so long as the Local Originator is the Local Servicer) each Initial Issuer and the Local Originator (and vice versa), will be netted against each other only to the extent permitted under the relevant Local Documents.

  • As part of the valuation process, the Committee will approve the Funding Strategy Statement (FSS) which sets out the parameters for the valuation.

Related to Local Servicer

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

  • Subservicer means any Person that services Receivables on behalf of the Servicer or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Servicer under this Agreement that are identified in Item 1122(d) of Regulation AB.

  • 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.

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

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

  • Sub-Servicer Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.

  • Initial Servicer means CarMax.

  • 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).

  • Servicers Wells Fargo Bank, as a Servicer under the related Servicing Agreement. Xxxtially the servicing functions performed by Wells Fargo Bank shall be performed by the Wells Fargo Home Mortgage xxxxxion of Wells Fargo Bank.

  • Additional Servicer Each affiliate of each Servicer that services any of the Mortgage Loans and each Person who is not an affiliate of the any Servicer, who services 10% or more of the Mortgage Loans. For clarification purposes, the Master Servicer and the Securities Administrator are Additional Servicers.

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

  • Servicing Agent means, with respect to an eNote, the field entitled, “Servicing Agent” in the MERS eRegistry.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • Servicing Bank means the Agent or the Security Trustee;

  • Securitization Servicing Agreement means the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement.

  • Non-Lead Master Servicer means the applicable “master servicer” under any Non-Lead Securitization Servicing Agreement.

  • Collection Agent means at any time the Person then authorized pursuant to Section 6.01 to service, administer and collect Transferred Receivables.

  • Servicing In accordance with Regulation AB, the act of servicing, managing or administering the Mortgage Loans or any other assets of the Trust by an entity (other than the Certificate Administrator and the Trustee) that meets the definition of “servicer” set forth in Item 1101 of Regulation AB and is subject to the disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants in the commercial mortgage-backed securities market.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • Non-Lead Special Servicer means the “special servicer” under any Non-Lead Securitization Servicing Agreement.

  • Countrywide Servicing Countrywide Home Loans Servicing LP, a Texas limited partnership and its successors and assigns.

  • Collection agency means a person that is directly engaged in collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another person, arising out of an expressed or implied agreement. Collection agency includes an individual who, in the course of collecting, repossessing, or attempting to collect or repossess, represents himself or herself as a collection or repossession agency, or a person that performs collection activities that are regulated under article 9 of the occupational code, 1980 PA 299, MCL 339.901 to 339.920. Collection agency includes a person that furnishes or attempts to furnish a form or a written demand service that is represented to be a collection or repossession technique, device, or system to be used to collect or repossess claims, if the form contains the name of a person other than the creditor in a manner that indicates that a request or demand for payment is being made by a person other than the creditor even though the form directs the debtor to make payment directly to the creditor rather than to the other person whose name appears on the form. Collection agency includes a person that uses a fictitious name or the name of another in the collection or repossession of claims to convey to the debtor that a third person is collecting or repossessing or has been employed to collect or repossess the claim.