REMIC Servicer definition

REMIC Servicer. The P&I Advance Facility Trustee is the Advance SPV's pledgee with respect to the right to be reimbursed for such P&I Advances, and is the "Advance Financing Person" for purposes of the other provisions of this Section 3.04(f) with respect to the Advance Facility described in this subsection (f). The parties hereto further agree that any rights of set-off that the Trust may otherwise have against Oakwood Acceptance Corporation, LLC (successor by merger to Oakwood Acceptance Corporation) or the Servicer hereunder shall not attach to any rights to be reimbursed for P&I Advances that have been sold, transferred, conveyed and otherwise assigned to the Advance SPV. The parties hereto further covenant and agree that this Subsection 3.04(f)(6) may not be amended or otherwise modified without the prior written consent of 100% of the holders of the notes issued pursuant to the P&I Advance Facility Indenture, unless and until such notes shall have been paid in full or the P&I Advance Facility Indenture shall have been discharged and terminated.

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REMIC Servicer. Oakwood Servicing Holdings Co., LLC, a Nevada limited liability company, in its capacity as servicer of the REMIC Trusts under the REMIC Pooling Agreements and any successor servicer appointed thereunder.

REMIC Servicer means OAC in its capacity as servicer of the REMIC Trusts and any successor servicer appointed thereunder.

Examples of REMIC Servicer in a sentence

If Owner has notified Servicer in writing that an REO Property is held as part of a REMIC, Servicer will make reasonable efforts to sell such REO Property within the time necessary to preserve such REMIC status as advised by Owner in the notice thereof.
Such payment by the Indenture Trustee to the REMIC Trustees shall constitute payment of the Purchase Price for the Aggregate Receivables consisting of such P&I Advances made on behalf of the REMIC Servicer and shall not be deemed to be the making of P&I Advances by the Issuer or the Indenture Trustee.
In the event the Trustee Fee and any other expenses or disbursements are unpaid or unreimbursed under Section 4.04, the Trustee shall not be entitled to payment or reimbursement from any of the REMIC Trusts or the REMIC Servicer.
To the extent not prohibited by applicable law, the Trustee is hereby authorized to commence at the direction of the Majority Noteholders, in its own name or in the name of the Issuer, legal proceedings to enforce any Receivable against the related REMIC Trustee or the REMIC Servicer, as the case may be, or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable or the REMIC Servicer.
If the Verification Agent and the REMIC Servicer are unable to reconcile exceptions with respect to a Payment Date Report, then the Majority Noteholders, in their sole discretion, may, through their designated representatives, including without limitation any independent certified public accountants they select, examine the REMIC Servicer's books and records and conduct other procedures as described in Section 3.05, at OAC's expense, to reconcile such exceptions or correct errors associated with them.
Counsel to the Seller and the REMIC Servicer shall have delivered to the Agent and the Indenture Trustee favorable opinions, dated as of the Closing Date and satisfactory in form and substance to the Agent and its counsel.
The Monthly REMIC Servicer report shall be amended and redistributed to reflect the effect, if any, of such reconciliation or corrections, as soon as reasonably practicable.
Any notices required to be given to the Initial Noteholders by the Issuer or the REMIC Servicer shall be deemed given if sent pursuant to the delivery instructions provided to the Issuer and the REMIC Servicer in writing by such Initial Noteholders.
The REMIC Servicer shall cause daily automated clearing house ("ACH") debits pursuant to which all P&I Advance Reimbursement Amounts are transferred to the Reimbursement Account from the Certificate Accounts maintained pursuant to the REMIC Pooling Agreements within one (1) Business Day after deposit into the related Certificate Account.
No document, certificate or report furnished by or on behalf of the Seller or the REMIC Servicer, in writing pursuant to this Agreement, any other Transaction Document or in connection with the transactions contemplated hereby or thereby contains or will contain when furnished any untrue statement of a material fact.

More Definitions of REMIC Servicer

REMIC Servicer shall have the meaning set forth in the Advance Indenture.

REMIC Servicer means Oakwood Servicing Holdings Co., LLC, a Nevada limited liability company, in its capacity as servicer for the Securitization Trusts under the Pooling and Servicing Agreements, and any successor appointed thereunder.

REMIC Servicer shall cause all collections in respect of the Securitized Assets included in each Securitization Trust to be deposited into the related Certificate Account pursuant to the related Pooling and Servicing Agreement, not later than two Business Days following receipt by the REMIC Servicer or the REMIC Sub-Servicer.