Servicing Term has the meaning assigned thereto in Section 16(b).
Servicing Term shall have the meaning set forth in Section 16(a) of the Agreement.
Servicing Term. As defined in Section 6(b)(i).
Examples of Servicing Term in a sentence
Agent, in its sole discretion, may terminate RMS’s rights and obligations as subservicer of the affected Mortgage Loans and REO Properties and require RMS to deliver the related Servicing Records to Agent or its designee upon the occurrence of (i) an Event of Default or (ii) upon the expiration of the Servicing Term as set forth in Section 16(b) by delivering written notice to RMS requiring such termination.
More Definitions of Servicing Term
Servicing Term shall have the meaning set forth in Section 16(a) of the Agreement. “Set-Aside Amounts” shall mean, with respect to each Mortgage Loan, all amounts set-aside from the Principal Limit, including amounts to cover (1) any repairs required to be made by the related Mortgagor after the related loan closing, (2) any property charges with respect to the related Mortgaged Property, including tax and insurance charges related to the first and subsequent years of the related Mortgage Loan, and (3) the monthly servicing fee for the related Mortgage Loan. In the case of a Select Advance Loan, such Set-Aside Amounts shall consist of the related participation interest’s pro rata interest in/share of the Set-Aside Amounts applicable to the related HomeSafe Select. “SIPA” shall have the meaning set forth in Section 33 of the Agreement. “SOFR” shall mean a rate per annum equal to the secured overnight financing rate as administered by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on its website. “Subordinated Debt” shall mean, as of the date of determination thereof, all indebtedness which has been subordinated in writing to the obligations owing to Buyer on terms and conditions acceptable to Buyer. “Subservicer” shall mean any Person that services Mortgage Loans on behalf of the Seller or any Servicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Seller under this Agreement that are identified in Item 1122(d) of Regulation AB. As of the date hereof, the only Subservicer shall be Compu-Link Corporation, dba Celink. “Subservicer Notice” shall mean the notice acknowledged by Subservicer and substantially in the form of Exhibit I hereto. “Subservicing Agreement” shall mean the written contract between Master Servicer or any Servicer, and Subservicer relating to servicing and administration of certain Purchased Mortgage Loans, as modified by the Subservicer Notice. “Subsidiary” shall mean, with respect to any Person, any corporation, partnership or other entity of which at least a majority of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership or other entity (irrespective of whether or not at the time secur...
Servicing Term means period of time commencing on the Effective Date and ending two years thereafter, or, if earlier, the date on which the Servicer ceases to be the Servicer by termination without cause, pursuant to the second sentence of Section 4.1 of this Supplement.
Servicing Term means a period of time beginning on the Effective Date and ending on such date as the Owner and the Servicer shall mutually agree, or such earlier date as the Servicer’s functions hereunder are terminated pursuant to any other provision hereof.
Servicing Term has the meaning assigned thereto in Section 17(b).
Servicing Term. Shall have the meaning set forth in Section 6(b) hereof.
Servicing Term shall have the meaning set forth in Section 16(a) of the Agreement. “Servicing Fee” shall mean with respect to each Mortgage Loan, either the monthly fee set forth in the related Mortgage Note or portion of the Mortgage Interest Rate being paid to the Servicer as the servicing fee. Each month, the Servicing Fee shall be added to the Principal Balance of such Mortgage Loan. In the case of a Select Advance Loan, such Servicing Fee shall consist of the related participation interest’s pro rata interest in/share of the Servicing Fee applicable to the related HomeSafe Select.
Servicing Term has the meaning assigned thereto in Section 17(b). “Settlement Agent” means, with respect to any Transaction the subject of which is a Wet-Ink Mortgage Loan, the entity approved by Agent, in its sole good-faith discretion, which may be a title company, escrow company or attorney in accordance with local law and practice in the jurisdiction where the related Wet-Ink Mortgage Loan is being originated. “SOFR” means a rate per annum equal to, with respect to any day, the secured overnight financing rate for such Business Day published by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve Bank of New Yorkpublished for such day by the SOFR Administrator on the SOFR Administrator’s website, currently at xxxx://xxx.xxxxxxxxxx.xxx (, or any successor source for the secured overnight financing rate identified as such by the administrator of the secured overnight financing rateSOFR Administrator from time to time).3948 constitutes a material impairment of Servicer’s ability to perform its obligations under this Agreement or any other related document; or h. An Event of Insolvency with respect to Servicer. “Servicing Agent” means, with respect to an eNote, the field entitled, “Servicing Agent” in the MERS eRegistry. 3847 The definition of “Servicing Agreement” was amended by Amendment No. 1, dated as of September 24, 2021. 3948 The definition of “SOFR” was amended by Amendment No. 1, dated as of September 24, 2021, and amended by Amendment No. 2, dated as of April 28, 2022; the definition of