Examples of Servicing Released Loan in a sentence
Buyer acknowledges that with respect to any Servicing Released Loan, Guarantor retains legal title to the Mortgage Loans constituting the Purchased Assets and legal title to the Servicing Rights in respect of the Mortgage Loans constituting the Purchased Assets, and that the sale of the Participation Interest in the Servicing Rights does not sever the Servicing Rights from the Servicing Released Loans.
Except as set forth in Section 4.33 of the Disclosure Schedule, to the best of the Company's knowledge, there is no breach or violation of any representation, warranty, covenant or indemnity for which the Company or any of its Subsidiaries is directly or indirectly liable, made or given to any Investor or other Person in connection with the transfer of any Servicing Released Loan or Servicing Sale Loan to such Investor or other person.
Each Servicing Released Loan and Servicing Sale Loan complied, at the time of sale, in all material respects with all Regulations.
With respect to any Servicing Released Loan, Buyer shall have no right to terminate Guarantor or Servicer, as applicable, as the interim servicer other than upon the occurrence of an Event of Default or a Servicer Termination Event, subject to Seller’s appointment right set forth in the first sentence of Section 6.2(m).
To the best of the Company's knowledge, each material representation and warranty made by the Company or any of its Subsidiaries to any Person with respect to any Servicing Released Loan or Servicing Sale Loan in connection with the sale of such Servicing Released Loan or Servicing Sale Loan was and is accurate and complete in all respects.
Any such designation, change or cancellation must be on a form provided for that purpose by the Company and shall not be effective until received by the Company.
The Servicing Term shall terminate upon the occurrence of any of the following events: (i) if the related purchase transaction is not renewed at the end of such Servicing Term and such Servicing Released Loan is not repurchased by Seller, or (ii) You shall have received a written termination notice from Buyer at any time with respect to some or all of the Servicing Released Loans being serviced by You (each, a “Servicing Termination”).
For purposes of this Agreement, the term "Recourse Loan" means, with the exception of VA No-Bids, any Mortgage Loan, mortgaged property, Servicing Released Loan or Servicing Sale Loans, including those items identified in Section 4.24 of the Disclosure Schedule, under which the Company or any Company Subsidiary bears the risk of loss as described in the preceding sentence.
Notwithstanding anything to the contrary in this Agreement or any other Principal Agreement, solely with respect to any Purchased Asset that is a Servicing Released Loan, upon payment of the Purchase Price by Buyer to Seller, Xxxxx becomes the owner of a Purchased Asset, which includes a Participation Interest in the Servicing Rights related thereto.
Notwithstanding anything to the contrary in this Agreement or any other Principal Agreement, solely with respect to any Purchased Asset that is a Servicing Released Loan, upon payment of the Purchase Price by Buyer to Seller, Buyer becomes the owner of a Purchased Asset, which includes a Participation Interest in the Servicing Rights related thereto.