Servicing Principles definition

Servicing Principles means the principles applied in the ordinary course of business by the relevant Eligible Booking Entity in servicing loans of the same type and with the same characteristics as the Eligible Obligations and which are in all material respects as determined by the Buyer acting reasonably:
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Servicing Principles means the Issuer's credit and collection policy and servicing principles in force from time to time or equivalent credit and collection policies and servicing principles and which would at all times be acceptable to a reasonable and prudent lender acting in its own interest at the circumstances prevailing at the relevant time.
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Servicing Principles means the principles applied in the ordinary course of business by the relevant Eligible Booking Entity in servicing Eligible Obligations and which are in all material respects as determined by the Buyer acting reasonably:
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Examples of Servicing Principles in a sentence

  • Wells Fargo & Co. represents on its website athttps://www.wellsfargo.com/_jumpmortgageprinciples that it controls and sets the standard for its loan servicing business, stating that: Wells Fargo & Company Responsible Servicing Principles for U.S. Residential Real Estate Lending .

  • Subject to applicable law, the Servicer, may, on behalf of the holder of the relevant Receivable, agree on payment rescheduling or debt restructuring with a Borrower in accordance with Rabobank's Credit and Collection Policy and the Servicing Principles.

  • Wells Fargo & Co. represents on its website that it controls and sets the standard for its loan servicing business, stating that: Wells Fargo & Company Responsible Servicing Principles for U.S. Residential Real Estate Lending .

  • The Rural and Regional Passenger Transport Servicing Principles provide the strategic framework underpinning the passenger transport services provided in rural and regional areas.


More Definitions of Servicing Principles

Servicing Principles means the servicing principles set forth in Appendix C to the Terms and Conditions. Compliance with the Servicing Standards is, subject to Provision 9 of the Reference Pool Provisions (Non-Compliance/Removal), a condition to the Loss Allocation and does not constitute an obligation of the Bank, the Determination Agent, the Servicer, KfW or the Issuer.
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Related to Servicing Principles

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Accepted Master Servicing Practices With respect to any Mortgage Loan, those mortgage master servicing practices of prudent mortgage master servicing institutions which master service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Customary Servicing Practices means the customary servicing practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services for itself and others, as such customary servicing practices may be changed from time to time, it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing Practices.”

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • MacBride Principles means those principles relating to nondiscrimination in employment and freedom of workplace opportunity which require employers doing business in Northern Ireland to:

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Generally Accepted Accounting Principles or “GAAP” means generally accepted accounting principles in the United States, consistently applied, which are in effect on the date of this Indenture.

  • Servicing Standard shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement. The Servicing Standard in the Lead Securitization Servicing Agreement shall require, among other things, that each Servicer, in servicing the Mortgage Loan, must take into account the interests of each Note Holder.

  • Prudent Servicing Practices The standard of care set forth in each Servicing Agreement.

  • Servicing Standards As defined in Section 3.01(a).

  • Agreed Principles means the terms set out in Part 1 of Schedule 1;

  • Equator Principles means that set of principles entitled "The Equator Principles – A financial industry benchmark for determining, assessing and managing environmental and social risk in projects", dated July 2020 and available as at the date of this Agreement at: hxxxx://xxxxxxx-xxxxxxxxxx.xxx/xx-content/uploads/2021/02/The-Equator-Principles-July-2020.pdf.

  • Privacy Shield Principles means the Privacy Shield Principles (as supplemented by the Supplemental Principles) contained in Annex II to the European Commission Decision C(2016)4176 of 12 July 2016 (as may be amended, superseded or replaced).

  • Servicing Procedures means the servicing procedures of Ford Credit relating to retail installment sale contracts originated or purchased by Ford Credit as the procedures may change.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

  • Customary Servicing Procedures means procedures (including collection procedures) that the Assuming Institution (or, to the extent a Third Party Servicer is engaged, the Third Party Servicer) customarily employs and exercises in servicing and administering mortgage loans for its own accounts and the servicing procedures established by FNMA or FHLMC (as in effect from time to time), which are in accordance with accepted mortgage servicing practices of prudent lending institutions.

  • Interim Servicing Period The period from the Closing Date to the related Servicing Transfer Date.

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1.0%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

  • Sustainability Linked Loan Principles means the Sustainability Linked Loan Principles as most recently published by the Loan Market Association and Loan Syndications & Trading Association.

  • GAAP means generally accepted accounting principles in the United States of America.

  • Halifax Abuse Principle means the principle explained in the CJEU Case C-255/02 Halifax and others;

  • 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.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.