Examples of Servicing Appraisal in a sentence
Borrower shall provide a new Servicing Appraisal to the Lender once each calendar month (with the first such period ending December 31, 2014); provided, that the Lender shall have the right in the Lender’s sole discretion to require independent appraisals or evaluations more frequently than every calendar month; and provided further that the Servicing Appraisal for each calendar month must be provided to the Lender no later than thirty (30) days following the end of such month.
Borrower shall provide a new Servicing Appraisal to the Lender once each calendar quarter; provided, that Lender shall have the right in its sole good faith discretion to require independent appraisals or evaluations more frequently than every calendar quarter; and provided further that the Servicing Appraisal for each calendar quarter must be provided to Lender no later than forty-five (45) days following the end of such quarter.
Borrower agrees to pay the reasonable and documented out-of-pocket costs and expenses of such third party Servicing Appraisal and any third-party review fees.
In connection with the furnishing of any such Servicing Appraisal, Borrower shall upload to any such servicing appraiser website or electronic portal as directed by Bank all such data as may be reasonably requested in order to cause the furnishing of such Servicing Appraisal (or any other Servicing Appraisal ordered by Bank pursuant to the terms hereof) within seven (7) days following the end of each Fiscal Quarter.
If at any time the aggregate outstanding amount of Loans made in connection with Pledged Servicing Rights exceeds, as the date of determination, 55% of the fair market value of the Fannie Mae and Freddie Mac Eligible Pledged Servicing Rights, as reflected in the most recent Servicing Appraisal (such excess, a “Remargin Amount”), then Bank may by notice to Borrower require Borrower to transfer to Bank cash in an amount at least equal to the Borrowing Base Deficiency (such requirement, a “Margin Call”).