Examples of Servicing Duties in a sentence
The factors for each class of notes will initially be 1.0000000 and will decline as the outstanding principal amount of the class declines.For information about other reports prepared by the servicer, including assessment of compliance with the minimum servicing criteria, you should read "Principal Transaction Documents — Servicing agreement — Servicing Duties".
IV.3.2 Financial Administration and Procedure Protocol of the Sociedad Gestora The Sociedad Gestora, in the performance of functions included in its corporate object, will carry out the administration and Servicing Duties of the Fondo’s assets pursuant to the Procedure Protocol approved by its Board of Directors, a copy of which is attached hereto as Annex 6.
Since the guaranteed portion of the loan is generally not applied against a bank's lending limit, it can be used to expand lending capabilities.• Increased Return on Investment and Retains Loan Servicing Duties.
During such one- month period, BBVA shall continue to carry out the Servicing Duties on the understanding that if this is not legally possible, the Sociedad Gestora shall directly assume the Servicing Duties while it finds a new servicer with the requisite credit rating.
BBVA will carry out the Servicing Duties relating to theCovered Obligations in accordance with the Collection Policy of BBVA which is attached hereto as Annex 9 (hereinafter, the “ Collection Policy”).
BBVA will indemnify the Fondo, through its Sociedad Gestora, for any damage, loss or expense it incurs as a result of a breach of its obligations in relation to the administration and collection of the Covered Obligations incorporated into the Fondo or the obligations relating to the custody representing the Loans and Lines of Credit from which these derive, or due to malicious or negligent actions carried out by said entity in the performance of its Servicing Duties.
If the Sociedad Gestora does not find a new servicer with such credit rating within a month, it shall directly assume the Servicing Duties and consequently exercise the administration, management and custody of the Covered Obligations.
IV.3.1.3 Term BBVA will carry out the Servicing Duties until (i) the Covered Obligations incorporated into the Fondo have been fully redeemed , (ii) all of BBVA’s obligations in relation to the Covered Obligations have been cancelled, or (iii) the liquidation of the Fondo has concluded, subject to any possible revocation of its mandate pursuant to the Administration, Collection and Deposit of Covered Obligations Agreement.
If the Sociedad Gestora fails to find a new collection agent with such a credit rating within a month, the Sociedad Gestora shall directly assume the Servicing Duties and will consequently be responsible for the administration, collection and custody of the Covered Obligations.
During such one-month period, BBVA shall continue to carry out the Servicing Duties on the understanding that if this is not legally possible, the Sociedad Gestora shall directly assume the Servicing Duties while it finds a new servicer with the requisite credit ratings.