Servicer Order definition

Servicer Order a written order or request delivered to the Trustee and signed in the name of the Servicer by an Authorized Officer.
Sample 1Sample 2Sample 3
Servicer Order or "Manager Order" shall mean an order of an Authorized Officer of the American Servicer, the Canadian Servicer or the IP Servicer, as applicable.
Sample 1
Servicer Order a written order or request delivered to the -------------- Indenture Trustee and signed in the name of the Servicer by an Authorized Officer. Servicing Fee: an amount equal to the sum of (a) the product of ------------- (i) one-twelfth, (ii) the Servicing Fee Rate and (iii) the Aggregate Implicit Contract Balance as of the beginning of the previous Collection Period, (b) late payment fees and certain other fees paid by the Obligors during the previous Collection Period and (c) any investment earnings on amounts held in the Collection Account. Servicing Fee Rate: _____%. ------------------ Sponsor: Chevy Chase Bank, F.S.B., a corporation organized and ------- existing under the laws of the State of _______, and its successors. Stated Maturity Date: the date on which the entire unpaid principal -------------------- amount of the Notes is due and payable, which date is ________ __, 199__.
Sample 1

Examples of Servicer Order in a sentence

  • Absent any Servicer Order or other written instructions from the Servicer hereunder, the Indenture Trustee shall invest and reinvest the funds held in any Indenture Trust Account in one or more Eligible Investments of the type described in clause (e) of the definition thereof.

  • Subject to applicable laws with respect to escheat of funds, any money held by the Indenture Trustee or any Paying Agent in trust for the payment of any amount due to any Noteholder with respect to any Note and remaining unclaimed for two (2) years after such amount has become due and payable shall be discharged from such trust and be paid to the Co-Issuers upon delivery of a Servicer Order.

  • On each Payment Date, upon receipt of a Servicer Order as described in the Base Indenture, the Indenture Trustee shall pay to the Series 2007-1 Class A Insurer from the Collection Account the Series 2007-1 Insurer Reimbursement Amounts owed to the Series 2007-1 Class A Insurer (which are deemed to be “Insurer Reimbursement Amounts” for purposes of the Base Indenture) pursuant to, and to the extent that funds are available therefor in accordance with the provisions of, the Priority of Payments.

  • Any payments under Section 10.03(ix) of this Indenture on any Payment Date shall be deposited in the Seasonality Coverage Account and invested in Eligible Investments as directed in writing by the American Servicer pursuant to a Servicer Order.

  • If on such Payment Date a Rapid Amortization Event has occurred and is continuing (other than a Rapid Amortization Event that has been waived or cured pursuant to a Series 2007-1 Rapid Amortization Cure Right), upon receipt of a Servicer Order as described in the Indenture, the Indenture Trustee shall allocate from the Collection Account for payment of principal on the Series 2007-1 Senior Notes the amounts contemplated by the Priority of Payments.

  • Each of the Issuer and the Servicer agrees to give appropriate and timely investment directions to the Trustee so that there will not be more than two Business Days in any one calendar year at the end of which funds in the Trust Accounts are not invested, directly or indirectly, pursuant to a Trust Order or a Servicer Order in Eligible Investments that mature on or after the opening of business on the next Business Day.

  • On each Payment Date, upon receipt of a Servicer Order as described in the Base Indenture, the Indenture Trustee shall allocate from the Collection Account the accrued and unpaid amounts due under the related Class A-1 Note Purchase Agreement pursuant to, and to the extent that funds are available therefor in accordance with the provisions of, the Priority of Payments.

  • Any payments under Section 10.03(vi) of this Indenture on any Payment Date shall be deposited in the Debt Service Reserve Account and invested in Eligible Investments as directed in writing by the American Servicer pursuant to a Servicer Order.

  • On each Payment Date, upon receipt of a Servicer Order as described in the Base Indenture, the Indenture Trustee shall allocate from the Collection Account the Series 2007-1 Class A-2-I Excess Adjusted Interest Amount (which is deemed to be a “Senior Notes Monthly Excess Adjusted Interest Amount” for purposes of the Base Indenture) pursuant to, and to the extent that funds are available therefor in accordance with the provisions of, the Priority of Payments.

  • The Servicer agrees to give appropriate and timely investment directions to the Trustee so that there will not be more than two Business Days in any one calendar year at the end of which funds in the Distribution Account and the Reserve Account are not invested, directly or indirectly, pursuant to a Servicer Order in Eligible Investments that mature on or after the opening of business on the next Business Day.

Related to Servicer Order

  • Depositor Order A written order or request, respectively, signed in the name of the Depositor by any one of its Executive Officers.

  • Servicer Notice As defined in Section 11.17.

  • Master Servicer Certification A written certification covering servicing of the Mortgage Loans by all Servicers and signed by an officer of the Master Servicer that complies with (i) the Xxxxxxxx-Xxxxx Act of 2002, as amended from time to time, and (ii) the February 21, 2003 Statement by the Staff of the Division of Corporation Finance of the Securities and Exchange Commission Regarding Compliance by Asset-Backed Issuers with Exchange Act Rules 13a-14 and 15d-14, as in effect from time to time; provided that if, after the Closing Date (a) the Xxxxxxxx-Xxxxx Act of 2002 is amended, (b) the Statement referred to in clause (ii) is modified or superceded by any subsequent statement, rule or regulation of the Securities and Exchange Commission or any statement of a division thereof, or (c) any future releases, rules and regulations are published by the Securities and Exchange Commission from time to time pursuant to the Xxxxxxxx-Xxxxx Act of 2002, which in any such case affects the form or substance of the required certification and results in the required certification being, in the reasonable judgment of the Master Servicer, materially more onerous than the form of the required certification as of the Closing Date, the Master Servicer Certification shall be as agreed to by the Master Servicer, the Depositor and the Seller following a negotiation in good faith to determine how to comply with any such new requirements.

  • Servicer Certification As defined in Section 3.22(b) hereof.

  • Special Servicer Decision With respect to any Serviced Loan or Serviced Loan Combination, any of the following (to the extent it is not a Major Decision):

  • Monthly Servicer’s Certificate is defined in Section 3.01(b)(i) of the Servicing Agreement.

  • CMSA Special Servicer Loan File format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CMSA for commercial mortgage securities transactions generally and, insofar as it requires the presentation of information in addition to that called for by the form of the "CMSA Special Servicer Loan File" available as of the Closing Date on the CMSA website, is reasonably acceptable to the Special Servicer.

  • 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.

  • CMSA Servicer Watch List means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Servicer Watch List" available as of the Closing Date on the CMSA Website, or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.

  • 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.

  • CREFC® Servicer Remittance to Certificate Administrator Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Servicer Remittance to Certificate Administrator Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Special Servicer Loan File format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Servicer’s Certificate means an Officers’ Certificate of the Servicer delivered pursuant to Section 4.9, substantially in the form of Exhibit A.

  • Master Servicing Officer Any officer of the Master Servicer involved in, or responsible for, the administration and master servicing of the Mortgage Loans.

  • Required Special Servicer Rating means with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer, (iii) in the case of Xxxxx’x, such special servicer is acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated by Xxxxx’x within the twelve (12) month period prior to the date of determination, and Xxxxx’x has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by Morningstar equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by DBRS within the twelve (12) month period prior to the date of determination and DBRS has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or withdrawal.

  • Servicer Remittance Report As defined in Section 4.03(d).

  • Servicer’s Report means any report of the Servicer delivered pursuant to Section 3.1(a) of the Administration Agreement, substantially in the form acceptable to the Administrator.

  • CREFC® Servicer Watch List format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form (including other portfolio review guidelines) for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Servicing Report has the meaning assigned to that term in Section 6.08(b).

  • Servicing Certificate A certificate completed and executed by a Servicing Officer on behalf of the Master Servicer in accordance with Section 4.01 of the Servicing Agreement.

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

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

  • Master Servicer Reporting Date With respect to any Distribution Date, 3:00 p.m. New York time on the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately succeeding such 18th day.

  • Servicing Officer Any officer of the Servicer involved in or responsible for, the administration and servicing of the Mortgage Loans whose name appears on a list of servicing officers furnished by the Servicer to the Master Servicer upon request, as such list may from time to time be amended.

  • CREFC® Servicer Realized Loss Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Servicer Realized Loss Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Special Servicer Property File The data file in the “CREFC® Special Servicer Property File” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.