Servicing Rights Repurchase Price definition

Servicing Rights Repurchase Price. The sum of the following: (a) the product of the unpaid principal balance of the Mortgage Loan at the Cut-Off Date multiplied by the Purchase Price Percentage and such product multiplied by a fraction, the numerator of which equals the current unpaid principal balance of the related Mortgage Loan and the denominator of which is the unpaid principal balance of such Mortgage Loan as of the Cut-Off Date; (b) if the Seller elects to repurchase the related Servicing Rights, all unreimbursed Advances paid by the Purchaser to the Seller hereunder and for the related Advances made by the Purchaser to the extent the Purchaser has not been reimbursed for such Advances in connection with the related Mortgage Loans and the Servicing Rights; and (c) if the Seller elects to repurchase the related Servicing Rights, the cost of any transfer fees such as documentary stamp taxes, recording taxes, and transfer taxes.

Servicing Rights Repurchase Price. The sum of the following with respect to any Eligible Asset purchased under this Agreement: (a) (i) the applicable Purchase Price Percentage, which shall be reduced by [***] percent ([***]%) on each anniversary of the Sale Date and shall equal zero (0) on the [***] anniversary of the Sale Date, multiplied by (ii) the unpaid principal balance of the related Mortgage Loan, provided, however, that if the related Mortgage Loan has been the subject of a modification or any other principal reduction or forbearance, for the purposes of this calculation, the unpaid principal balance of the Mortgage Loan shall not be reduced by the amount of any principal reduction made in connection with such modification, principal reduction or forbearance; plus (b) the related advances made by the Purchaser to the extent the Purchaser has not been reimbursed for such advances in connection with the related Mortgage Loan and Servicing Rights; plus (c) the cost of any transfer fees such as documentary stamp taxes, recording fees, and transfer taxes. The calculation of the Servicing Rights Repurchase Price shall be based on the date on which the Purchaser submits the related claim to the Seller, for the purpose of the reduction described in clause (a)(i), but shall be based on the unpaid principal balance of the Mortgage Loan as of the date of repurchase, for the purpose of calculation of the unpaid principal balance as described in clause (a)(ii). Any Servicing Rights Repurchase Price payable pursuant to this Agreement shall be reduced by any applicable Document Holdback Amount, which has not been released to the Seller pursuant to this Agreement.

Servicing Rights Repurchase Price. The price to be paid by Seller to Purchaser in connection with the repurchase of any Servicing Rights pursuant to either Section 2.03(c) or Article VI of this Agreement which, with respect to any Mortgage Loan, shall be equal to: (i) the then outstanding principal balance of the Mortgage Loan multiplied by the Purchase Price Percentage; plus (ii) any unreimbursed Recoverable Advances for such Mortgage Loan which were required to be advanced by Purchaser or Subservicer pursuant to Applicable Requirements; plus (iii) the reimbursement of all other unreimbursed actual and reasonable out-of-pocket costs and expenses incurred by Purchaser in connection with such Servicing Rights and such Mortgage Loan, which include, without limitation, all costs and expenses incurred by Purchaser in effectuating the repurchase of such Servicing Rights, including, if applicable, transferring the servicing and forwarding documents for the transfer of such Servicing Rights and such Mortgage Loan, but which excludes such losses, costs and expenses to the extent that they are a result of Purchaser’s failure to service such Mortgage Loan in compliance with the Servicing Agreement, provided that such failure was not as a result of Seller’s breach of this Agreement.

Examples of Servicing Rights Repurchase Price in a sentence

• For that reason, the local salaries have more of an influence than tax incentives when a firm is making location decisions.14 There are a multitude other location decision factors such as state/federal incentive programs, location within trade routes, connectivity to metropolitan areas, and the local ecosystem of industry and innovation.

• Seller shall, within thirty (30) days of receipt of the Title Objection Notice, have the option in its sole discretion of either: (i) terminating this Agreement in which event the Deposit shall be returned to Purchaser, or (ii) clearing the title of the objections so specified.

• Early Pay-off.In the event a Mortgage Loan is prepaid in full within the EPO Period, Seller shall reimburse Purchaser an amount equal to the Servicing Rights Repurchase Price for such Servicing Rights using the unpaid principal balance of such Mortgage Loan on the date such Mortgage Loan pays off during the EPO Period (collectively, the “ EPO Reimbursement”), but the transfer of the related Servicing Rights to Purchaser shall not be rescinded.

• If a Mortgage Loan is repurchased by the Seller from the Purchaser pursuant to Subsection 9.03 of the Purchase Agreement, the Purchaser shall, within 10 days after such repurchase by the Seller, repurchase the Servicing Rights related to such Mortgage Loan from the Servicer at the Servicing Rights Repurchase Price.

• Under these conditions, a moderate rain event can generate a significant peak flow, especially when augmented by snowmelt.

• In the event that the Purchaser notifies the Seller in writing that it is exercising its option to require the Seller to repurchase such Servicing Rights, the Seller shall remit the applicable Servicing Rights Repurchase Price within [***] days of such notice, and repurchase such Servicing Rights from the Purchaser in accordance with Applicable Requirements.

• In the event Purchaser discovers any Excluded Obligation or Defect in a Mortgage Loan, or if there exists a basis to demand indemnification under Section 6.01 hereof, Purchaser, subject to Seller’s opportunity to correct or cure such misrepresentation or defect to the reasonable satisfaction of Purchaser within thirty (30) calendar days after notice, may demand that Seller reimburse Purchaser the amount of the Servicing Rights Repurchase Price.

• L.P., dated as of December 30, 1998, as amended (the "Host LPA").

• In the event that the terms of this Section 5.03 have been breached and any affected Mortgage Loan is refinanced or prepaid in full (other than by Purchaser or Purchaser’s affiliates), Seller shall pay to Purchaser (and Purchaser shall have the right to offset any such amounts against future payments required hereunder to be made by Purchaser to Seller) an amount equal to the Servicing Rights Repurchase Price.

• If the Seller fails to pay to the Purchaser the Servicing Rights Repurchase Price for the relevant Mortgage Loan, then the Purchaser may offset such amounts against Holdback Funds as determined by the Purchaser in its sole and absolute discretion.

More Definitions of Servicing Rights Repurchase Price

Servicing Rights Repurchase Price means the amount set forth in Section 3.05 to be paid by Seller to Purchaser upon the repurchase of the Servicing Rights for any of the Mortgage Loans.

Servicing Rights Repurchase Price. The sum of the following: (a) the applicable Purchase Price paid by the Purchaser for the Servicing Rights multiplied by a fraction, the numerator of which equals the current unpaid principal balance of the related Mortgage Loan and the denominator of which is equal to the original unpaid principal balance of such Mortgage Loan (provided that if the related Mortgage Loan has been the subject of a modification or any other principal reduction or forbearance, for the purposes of this calculation, the denominator shall not be reduced by the amount of any principal reduction made in connection with such modification, principal reduction or forbearance); (b) all other sums paid by the Purchaser to the Seller for the Servicing Rights and for the related Advances made by the Purchaser to the extent the Purchaser has not been reimbursed for such Advances in connection with the related Mortgage Loans and the Servicing Rights (excluding any of the Purchase Price); (c) all other unreimbursed Losses incurred by the Purchaser in connection with the related Mortgage Loans and Servicing Rights (including any and all penalties and premiums owed to the applicable Investor with respect to such Mortgage Loans and Servicing Rights); and (d) any additional reasonable amount that the Purchaser or any affiliate is required to pay to an unaffiliated third party to give effect to Seller’s repurchase of the Servicing Rights.

Servicing Rights Repurchase Price. The sum of the following: (a) the applicable Purchase Price paid by the Purchaser for the applicable Servicing Rights, multiplied by a fraction, the numerator of which equals the current unpaid principal balance of the related Mortgage Loan and the denominator of which is the unpaid principal balance of such Mortgage Loan as of the Sale Date; (b) all other sums paid by the Purchaser to the Seller for the applicable Servicing Rights and for the related Advances made by the Purchaser to the extent the Purchaser has not been reimbursed for such Advances in connection with the related Mortgage Loan and the Servicing Rights; (c) all other unreimbursed Losses incurred by the Purchaser in connection with the related Mortgage Loan and Servicing Rights (including any and all penalties and premiums owed to the applicable Investor with respect to such Mortgage Loan and Servicing Rights); (d) the cost of any transfer fees such as documentary stamp taxes, recording taxes, and transfer taxes incurred in connection with such repurchase; and (e) any additional reasonable amount that the Purchaser or any affiliate is required to pay to repurchase the applicable Servicing Rights from any subsequent assignment, transfer or conveyance.

Servicing Rights Repurchase Price. With respect to any Servicing Right, a price equal to the sum of (a) during the first year immediately following the related Transfer Date, an amount equal to the sum of (i) the product of (A) the applicable Purchase Price Percentage multiplied by (B) the outstanding principal balance of the related Mortgage Loan as of the date of such repurchase (including, without duplication, the amount of any related outstanding advances owed to Servicer and any other servicer), plus (ii) without duplication, any related outstanding and unreimbursed Servicing Fee, escrow advances, and any related outstanding Servicing Advances, and any reasonable out-of-pocket costs and expenses incurred in the enforcement of the Purchaser's repurchase obligation hereunder and the Seller's repurchase obligation under the Purchase Agreement with respect to such Mortgage Loan; (b) during the second year following the related Transfer Date, an amount equal to the sum of (i) the product of (A) the related Purchase Price Percentage, multiplied by (B) a fraction, whose numerator is equal to 12 less the number of months since the first anniversary of the related Transfer Date and whose denominator is equal to 12, multiplied by (C) the outstanding principal balance of the related Mortgage Loan as of the date of such repurchase (including, without duplication, the amount of any related outstanding advances owed to Servicer and any other servicer), plus (ii) without duplication, all costs and expenses incurred by Servicer on account of such Mortgage Loan, including without limitation, any related outstanding and unreimbursed Servicing Fees, escrow advances, and any outstanding Servicing Advances and any costs and expenses incurred in the enforcement of the Purchaser's and the Seller's repurchase obligation under the Purchase Agreement with respect to such Mortgage Loan; and (c) after the second year following the related Transfer Date, an amount equal to any related outstanding and unreimbursed Servicing Fee, escrow advances, and any related outstanding Servicing Advances.