Majority Servicer definition

Majority Servicer. With respect to any Optional Termination, the Servicer servicing the largest percentage of Mortgage Loans in the Loan Group(s) to be purchased in such Optional Termination (by Stated Principal Balance of outstanding Mortgage Loans on the Optional Termination Date) which has notified the Trust Administrator of its intention to be the Terminating Entity of such Loan Group(s) pursuant to Section 11.02(a).
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Majority Servicer. The Servicer servicing the largest percentage by Stated Principal Balance of outstanding Mortgage Loans on the Optional Termination Date.
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Majority Servicer. The Servicer servicing the largest percentage by Stated Principal Balance of outstanding Mortgage Loans on the Optional Termination Date; provided, however, that if such Servicer does not exercise its right to purchase the Mortgage Loans under Section 9.01, each other Servicer, in sequential order from the Servicer servicing the second largest percentage, the third largest percentage, and so forth, to the Servicer servicing the smallest percentage, in each case by Stated Principal Balance of outstanding Mortgage Loans on the Optional Termination Date, shall be the Majority Servicer.
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Examples of Majority Servicer in a sentence

  • For the avoidance of doubt, the Majority Servicer may not elect to exercise an Optional Termination other than at the direction of the Terminating Entity.

  • In the event that the Class X Certificateholder elects to be the Terminating Entity, the Terminating Entity shall direct the Majority Servicer to exercise its right to purchase the Mortgage Loans from the Trust.

  • The Class X Certificateholder shall deliver to the Majority Servicer and cause the Majority Servicer to deliver to the Trustee for deposit in the Certificate Account not later than the last Business Day of the month next preceding the month of the final distribution on the Certificates an amount in immediately available funds equal to the Par Value for the Mortgage Loans purchased by the Terminating Entity.

  • Upon the purchase by the Majority Servicer on behalf of the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.

  • The Terminating Entity shall reimburse the Majority Servicer for its reasonable out-of-pocket expenses incurred in connection with its termination of the Trust Fund on behalf of the Terminating Entity and shall indemnify and hold harmless the Majority Servicer for any losses, liabilities or expenses resulting from any claims relating to the Majority Servicer's termination of the Trust Fund on behalf of the Terminating Entity.

  • In addition, the Class X Certificateholder shall indemnify and hold harmless such Majority Servicer for any losses, liabilities or expense resulting from any claims directly resulting from or relating to the Majority Servicer’s termination of the Trust Fund at the direction of the majority Class X Certificateholder, except to the extent such losses, liabilities or expenses arise out of or result from the Majority Servicer’s negligence, bad faith or willful misconduct.

  • Any purchase by the Majority Servicer on behalf of the Terminating Entity pursuant to Section 9.01(a) shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account before the Distribution Date on which such purchase is effected.

  • If the Class X Certificateholder elects to be the Terminating Entity, the Class X Certificateholder shall be obligated to reimburse the Majority Servicer for its reasonable out-of-pocket expenses incurred in connection with its termination of the Trust Fund at the direction of the majority Class X Certificateholder; provided, that if WFBNA is the Majority Servicer, the Class X Certificateholder shall remit an additional administrative fee in the amount of $2,500 to WFBNA.

  • If the Terminating Entity above elects to direct the Majority Servicer to terminate the Trust Fund on behalf of the Terminating Entity pursuant to Section 9.01(a), at least 20 days prior to the first day of the Optional Termination Notice Period such Person shall notify the Servicers and the Trustee of the date the Majority Servicer, on behalf of the Terminating Entity, intends to terminate the Trust Fund and of the applicable purchase price of the Mortgage Loans and REO Properties.

  • If the Terminating Entity above elects to direct the Majority Servicer to terminate the Trust Fund on behalf of the Terminating Entity pursuant to Section 9.01(a), at least 20 days prior to the first day of the Optional Termination Notice Period such Person shall notify the Servicer and the Trustee of the date the Majority Servicer, on behalf of the Terminating Entity, intends to terminate the Trust Fund and of the applicable purchase price of the Mortgage Loans and REO Properties.


More Definitions of Majority Servicer

Majority Servicer. As of any date of determination, the Servicer then servicing the largest portion of the Pool Balance.
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Related to Majority Servicer

  • 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.

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

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

  • 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.

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

  • 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.

  • Approved Servicer shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • 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.

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

  • Majority Noteholders means the Holders of a majority by principal amount of the most senior then outstanding class of Notes.

  • Supervisory Servicer means Xxx Xxxxxx Investment Advisory Corp. and its successors in interest, or any successor portfolio supervisor appointed as hereinafter provided.

  • Shareholder Servicing Agent shall have the meaning designated in Section 5.2(f) hereof.

  • Primary Servicer Prudential Asset Resources, Inc., or any successor thereto (as primary servicer) appointed as provided in the Primary Servicing Agreement.

  • 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

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

  • Back-Up Servicer means Xxxxx Fargo Bank, National Association and its permitted successors and assigns, as provided in the Indenture.

  • FTPS Unit Servicing Agent means FTP Services LLC or any successor FTPS Unit servicing agent appointed as hereinafter provided."

  • Third Party Servicer means any servicer appointed from time to time by the Assuming Institution or any Affiliate of the Assuming Institution to service the Shared-Loss Loans on behalf of the Assuming Institution, the identity of which shall be given to the Receiver prior to or concurrent with the appointment thereof.

  • Successor Master Servicer The meaning ascribed to such term pursuant to Section 8.02.

  • Servicing Bank means the Agent or the Security Trustee;

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Outside Special Servicer With respect to an Outside Serviced Mortgage Loan, the special servicer under the applicable Outside Servicing Agreement.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Other Servicer The applicable other “master servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan.

  • Reporting Servicer As defined in Section 11.13.

  • Note A-2 Master Servicer means the master servicer under the Note A-2 PSA.