SPS Serviced Loans definition

SPS Serviced Loans. The Mortgage Loans identified as such on the Mortgage Loan Schedule.

SPS Serviced Loans. The Mortgage Loans identified as such on the Mortgage Loan Schedule and if SPS is the Special Servicer, any Special Serviced Mortgage Loans.

Examples of SPS Serviced Loans in a sentence

• With respect to the SPS Serviced Loans, the excess, if any, of 0.50% over the “SPS Servicing Fee Rate” as defined in the SPS Letter Agreement.Excluded Amount: For any Payment Date for which an Amortization Event is in effect, all Draws made by a Mortgagor under the related HELOC during the related Collection Period.

• The advice may include comparable analysis of the performance of the SPS Serviced Loans with similar mortgage loans serviced by other mortgage loan servicers.

• Xxxxx Fargo Bank, N.A., acting in its capacity as back-up servicer for the SPS Serviced Loans hereunder, or its successor in interest, as applicable.

• Section 9.02 Master Servicer’s Oversight With Respect to the SPS Serviced Loans Section 9.03 Termination.

• The Master Servicer agrees that all material, nonpublic information supplied to it by or on behalf of SPS relating to the SPS Serviced Loans or details of SPS’s operations or SPS’s proprietary systems shall be treated confidentially except as otherwise provided by the terms of this Agreement or as required by law; it being understood that the provision of any such information by the Master Servicer to any party shall not cause such information to be considered public for purposes of this Section 9.05.

• The rights of the Master Servicer under Sections 9.01 and 9.02 of this Agreement shall terminate upon the earlier of (i) the appointment of a successor Servicer to SPS hereunder for all the SPS Serviced Loans or (ii) the receipt by SPS of a rating of “above average” (or its equivalent) or better as a servicer of subprime mortgage loans by each Rating Agency that maintains a servicer rating system and a rating on the Notes.