Servicing Expenses shall have the meaning set forth in the Servicing Agreement.
Servicing Expenses. All customary, reasonable and necessary out-of-pocket costs and expenses paid or incurred in accordance with the Servicing Standard in connection with the obligations of the Collateral Manager, the Servicer or the Special Servicer, as the case may be (other than legal fees or expenses associated with contracting with a subservicer or payment of any subservicing fee), including without limitation:
Servicing Expenses. All customary, reasonable and necessary out-of-pocket costs and expenses paid or incurred in connection with the Master Servicer’s and the Special Servicer’s obligations hereunder, including without limitation:
Examples of Servicing Expenses in a sentence
All Servicing Expenses (and Excess Working Capital Advances for the funding of the same) shall be reimbursed in accordance with the Custodial and Paying Agency Agreement.
The cost of preparing, negotiating and recording such REO Mortgage (including mortgage recording taxes) and the costs associated with such additional documentation and deliverables shall be Servicing Expenses.
Subject to the provisions of Section 3.04, all Servicing Expenses shall be funded by (or through or on behalf of) the Company and not by the Participant.
Debtor shall cause commercially reasonable efforts to be used to recover from Underlying Borrowers and Underlying Obligors those Servicing Expenses that such Underlying Borrowers or Underlying Obligors are obligated to pay.
The Company shall become a member of MERS on or before the Closing Date and, for so long as any Loan is registered on the MERS® System, maintain itself as a MERS member in good standing (including paying all dues and other fees required to maintain its membership, which costs shall not constitute Servicing Expenses, and complying with MERS policies and procedures).
More Definitions of Servicing Expenses
Servicing Expenses means all customary and reasonable out-of-pocket fees, costs, expenses and indemnified amounts incurred in connection with servicing the Loans and the Acquired Collateral, including (i) any and all out-of-pocket fees, costs, expenses and indemnified amounts which a Borrower is obligated to pay to any Person or to reimburse to the lender pursuant to the applicable Note or any other Loan Documents, including Escrow Advances,
Servicing Expenses means any of the following (in each case subject to the proviso set forth in the last full paragraph of this definition):
Servicing Expenses has the meaning given in the LLC Operating Agreement. Agreement. Agreement.
Servicing Expenses has the meaning set forth in Section 4.3(B)(i) of ------------------ the Cash Management Procedures.
Servicing Expenses has the meaning given that term in the LLC Operating Agreement. “Servicing Transfer Date” means, with respect to any Loan, the date on which the transfer of the loan servicing records for such Loan to the Servicer’s system of records is completed and the Servicer begins to service such Loan, as determined in accordance with Section 3.3, which date the Initial Member and the Company anticipate shall be no later than March 31, 2010 or such other date as is agreed to by the Initial Member and the Company, it being understood and agreed that (i) the loan servicing records for each Group of Loans will be transferred to the Servicer’s system of records at the same time, but not necessarily at the same time as the loan servicing records for any other Group of Loans are transferred to the Servicer’s system of records, and (ii) the Initial Member and the Company will proceed (and the Company is to cause the Servicer to proceed) with all commercially reasonable diligence to effect such transfer of loan servicing records as soon as is practicable after the Closing.
Servicing Expenses means certain costs and expenses of the Servicer payable in accordance with the provisions of the Servicing Agreement.
Servicing Expenses means all customary and reasonable out-of-pocket fees, costs, expenses and indemnified amounts incurred in connection with servicing the Loans and the Acquired Property, including (i) any and all out-of-pocket fees, costs, expenses and indemnified amounts which a Borrower is obligated to pay to any Person or to reimburse to the lender, in each case, pursuant to the applicable Note or any other Loan Documents, including Escrow Advances, (ii) any and all reasonable out-of-pocket expenses necessary to protect or preserve the value of the Underlying Collateral or the priority of the Liens and security interests created by the Loan Documents relating thereto, including taxes, insurance premiums (including forced place insurance premiums), payment of ground rent, the costs of prevention of waste, repairs and maintenance, foreclosure expenses and legal fees and expenses relating to foreclosure or other litigation with respect to the Loans, (iii) any and all direct expenses related to the preservation, operation, management, leasing and sale of the Acquired Property (including real estate brokerage fees), (iv) Reimbursable Company Administrative Expenses, (v) subject to Section 4.6 of the LLC Operating Agreement (and excluding any amounts or claims the Private Owner is required to bear or indemnify pursuant to such Section 4.6), to the extent not covered by any of clauses (i) through (iv), legal fees and expenses (including judgments, settlements and reasonable attorneys fees) incurred by the Company, the Manager or the Servicer (including to reimburse any Subservicer) in its (or any Subservicer’s) defense of claims asserted against the Company (or the Manager, the Servicer or any Subservicer) that relate to one or more Loans or the conduct of the Business, and allege, as the basis for such claims, any act or omission of the Company (or the Manager, the Servicer or any Subservicer) but only if (1) such claims are not attributable to any act or omission of the Company, the Manager, the Servicer or any Subservicer in a manner inconsistent with, or in violation of, the Servicing Standard or any of the provisions of this Agreement, the LLC Operating Agreement or any other Ancillary Document, and, (2) (x) such claims are decided and there are final non appealable orders or judgments (unless the Initial Member has agreed in writing that no appeal needs to be taken) in favor of the Company (or the Manager or the Servicer) or if decided against the Company (or the Manager...