Servicing Assumption Date definition

Servicing Assumption Date shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement.
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Servicing Assumption Date has the meaning specified in Section 5.1(b) of the Servicing Agreement.
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Servicing Assumption Date. The date which is a commercially reasonable period of time (not to exceed sixty (60) days) after receipt by the Back-up Servicer of a Servicing Transfer Notice.
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Examples of Servicing Assumption Date in a sentence

  • The Back-up Servicer agrees to assume the duties and obligations, and it shall be entitled to the rights, of the Servicer under the Sale and Servicing Agreement, except as otherwise set forth herein, as of the applicable Servicing Assumption Date, which duties and obligations shall be deemed to include the duties and obligations of the Servicer under Sections 2.2(a) and 2.2(b)(i), (ii) and (iv) hereof to the extent not completed by the Servicer prior to the delivery of a Servicing Transfer Notice.

Related to Servicing Assumption Date

  • Servicing Rate means 1.00% per annum.

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

  • Servicing Agreement means such subsequent Servicing Agreement; provided, however, that until a replacement Servicing Agreement has been entered into (and such written confirmation has been obtained), the Note A-1 Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage Loan; provided, further, however, that until a replacement Servicing Agreement is in place, the actual servicing of the Mortgage Loan may be performed by any Qualified Servicer appointed by the Note A-1 Holder and does not have to be performed by the service providers set forth under the Servicing Agreement that was previously in effect.

  • Servicing Transfer Event means any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan is required to be transferred to the Special Servicer from the Master Servicer.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.