Semiannual Servicer definition

Semiannual Servicer s Certificate” means the statement prepared by the Servicer and delivered to the Trustee with respect to the Transition Bonds on or prior to each Payment Date therefor, the form of which is attached hereto as Schedule 1.
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Examples of Semiannual Servicer in a sentence

  • The Servicer shall prepare and deliver such additional reports as are required under this Agreement, including a copy of each Semiannual Servicer Certificate described in Section 4.01(d)(iii), the annual Certificate of Compliance described in Section 3.03, and the Annual Accountant’s Report described in Section 3.04.

  • All deposits to and withdrawals from the Collection Account and all allocations to the subaccounts of the Collection Account shall be made by the Bond Trustee in accordance with the written instructions provided by the Servicer in the Semiannual Servicer Certificate or as otherwise provided herein.

  • In witness hereof, the undersigned has duly executed and delivered this Semiannual Servicer Certificate this day of , 20 .

  • All deposits to and withdrawals from the Collection Account and all allocations to the subaccounts of the Collection Account shall be made by the Note Trustee in accordance with the written instructions provided by the Servicer in the Semiannual Servicer Certificate or as otherwise provided herein.

  • So long as any Notes are outstanding, not later than the Servicer Business Day immediately preceding each Payment Date, the Servicer shall deliver a written report substantially in the form of Exhibit D hereto (the "Semiannual Servicer Certificate") to the Note Issuer, the Note Trustee, the Certificate Trustee and the Rating Agencies.

  • So long as any Securitization Bonds are outstanding, not later than the Servicer Business Day immediately preceding each Payment Date, the Servicer shall deliver a written report substantially in the form of Exhibit D hereto (the "Semiannual Servicer Certificate") to the Issuer, the Trustee and the Rating Agencies.

  • With respect to each Series of Storm-Recovery Bonds, not later than four Servicer Business Days immediately preceding each Payment Date, the Servicer shall deliver a written report substantially in the form of Exhibit G hereto (the "Semiannual Servicer Certificate") to the Issuer, the Commission, the applicable Trustee and the Rating Agencies.

  • Upon the written request of any Bondholder or any Rating Agency to the Bond Trustee addressed to the Corporate Trust Office, the Bond Registrar, or in its absence or failure the Paying Agent, shall provide such requesting party, the Bond Trustee and the Paying Agent or Bond Registrar, as applicable, with a copy of any Semiannual Servicer Certificate, Annual Accountant’s Report and any other report of the Servicer referred to in the Servicing Agreement.

  • With respect to each Series of Storm-Recovery Bonds, not later than the Servicer Business Day immediately preceding each Payment Date, the Servicer shall deliver a written report substantially in the form of Exhibit G hereto (the "Semiannual Servicer Certificate") to the Issuer, the Commission, the applicable Trustee and the Rating Agencies.

  • Total Subaccount Shortfalls $ 0 ====== IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Semiannual Servicer Certificate this __ day of __________.

Related to Semiannual Servicer

  • The Servicer s resignation pursuant to Section 7.5 or upon the Servicer's receipt of notice of termination as Servicer pursuant to Section 8.1(a), the Indenture Trustee (or an Affiliate of the Indenture Trustee that is an Eligible Servicer appointed by the Indenture Trustee) shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement (provided that neither the Indenture Trustee nor any other successor Servicer shall have any obligation, but may elect, to make available to an Obligor any refinancing of a Last Scheduled Payment in the manner specified in the last sentence of Section 3.2(e) hereof), and shall be subject to all the responsibilities, duties and liabilities relating thereto placed on the Servicer by the terms and provisions of this Agreement. As compensation therefor, the Indenture Trustee shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if no such notice of termination or resignation had been given, except that all collections shall be deposited in the Collection Account within two Business Days of receipt and shall not be retained by the Servicer. Notwithstanding the above, the Indenture Trustee may, if it shall be unwilling so to act, or shall, if it is legally unable so to act, appoint, or petition a court of competent jurisdiction to appoint, an Eligible Servicer as the successor to the terminated Servicer under this Agreement. In connection with such appointment, the Indenture Trustee may make such arrangements for the compensation of such successor Servicer out of payments on Receivables as it and such successor shall agree, which, in no event, shall be greater than that payable to MMCA as Servicer hereunder. The Indenture Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession including, but not limited to, making arrangements in respect of the last sentence of Section 3.2(e) of this Agreement. The Indenture Trustee shall not be relieved of its duties as successor Servicer under this Section 8.2 until a newly appointed Servicer shall have assumed the responsibilities and obligations of the terminated Servicer under this Agreement.

  • Monthly Servicing Report shall have the meaning attributed to such term in the Servicing Agreement.

  • Semi-Annual Servicer’s Certificate is defined in Section 4.01(c)(ii) of the Servicing Agreement.

  • Note A-3 Special Servicer means the special servicer under the Note A-3 PSA.

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

  • General Servicing Fee With respect to each Due Period and any Mortgage Loan, an amount equal to one-twelfth the product of (i) the General Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The General Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds to the extent permitted by Section 3.02 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. General Servicing Fee Rate: 0.50% per annum.

  • Total Servicing Fee means the sum of the Basic Servicing Fee and the Supplemental Servicing Fee.

  • Supplemental Servicing Fee means, with respect to any Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Reporting Servicer As defined in Section 11.13.

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

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

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

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

  • Note A-1 Special Servicer means the special servicer under the Note A-1 PSA.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • 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.

  • Lead Depositor means the Depositor under 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.

  • 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.

  • Supplemental Servicing Fees means any and all (i) late fees, (ii) extension fees, (iii) non-sufficient funds charges and (iv) any and all other administrative fees or similar charges allowed by applicable law with respect to any Receivable.

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • 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.

  • Note A-2 Special Servicer means the special servicer under the Note A-2 PSA.

  • Note A-4 Master Servicer means the master servicer under the Note A-4 PSA.

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