Substitute Servicer definition

Substitute Servicer means at any given time the entity then appointed as Servicer under clause 18.6.
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Substitute Servicer means the successor to the Servicer which may be appointed by the Guarantor, upon the occurrence of a Servicer Termination Event, pursuant to clause 8.4 (Sostituto del Servicer) of the Servicing Agreement.
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Substitute Servicer means an entity appointed to replace the Servicer following the termination of the appointment of the Servicer.
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Examples of Substitute Servicer in a sentence

  • The Servicer and the Manager must (subject to the Privacy Act and the Servicer's duty of confidentiality to its customers under general law or otherwise) provide the Substitute Servicer with copies of all paper and electronic files, information and other materials as the Trustee or the Substitute Servicer may reasonably request within 90 days of the removal or retirement of the Servicer in accordance with this clause 18.

  • The Majority Holders may remove the Servicer and/or replace the Servicer with a Substitute Servicer.

  • The Servicer may accept a payment or benefit, in connection with its retirement or removal, from the Substitute Servicer.

  • Upon any retirement, termination or appointment of a Substitute Servicer pursuant to this clause 18, the Trustee will give or cause to be given prompt notice of that retirement, termination or appointment to the Manager, the Class A-1 Note Trustee, the Securityholders and the Rating Agencies.

  • Upon any retirement, termination or appointment of a Substitute Servicer pursuant to this clause 18, the Trustee will give or cause to be given prompt notice of that retirement, termination or appointment to the Manager, the Offered Note Trustee, the Securityholders and the Rating Agencies.

  • All costs and expenses incurred by any party associated with the voluntary retirement of the Servicer in relation to a Series Trust pursuant to this Clause 4.3 and the appointment of a Substitute Servicer in relation to that Series Trust will be borne by Servicer and will neither be costs nor expenses of that Series Trust.

  • The Servicer and the Manager must provide the Substitute Servicer in relation to the Series Trust with copies of all paper and electronic files, information and other materials as the Trustee or the Substitute Servicer may reasonably request within five Business Days of the removal or retirement of the Servicer in accordance with this Clause 4.

  • Substitute Servicer means a person appointed to act in the place of the Servicer in accordance with Clause 4.

  • Upon any retirement, termination or appointment of a Substitute Servicer pursuant to this clause 18, the Trustee will give or cause to be given prompt notice of that retirement, termination or appointment to the Manager, the US Dollar Note Trustee, the Securityholders and the Rating Agencies.

  • All fees and reimbursable expenses and other amounts due the Substitute Servicer as reflected on a Monthly Servicing Report shall be paid to the Substitute Servicer on the related Payment Date.


More Definitions of Substitute Servicer

Substitute Servicer means the successor of the Servicer upon the occurrence of a Servicer Termination Event, which may be appointed by the Guarantor pursuant to Article 10.6 of the Servicing Agreement.
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Substitute Servicer means, with reference to each Servicer, the substitute which will be appointed upon the occurrence of a Servicer Termination Event pursuant to clause 10.6 of the Master Servicing Agreement.
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Substitute Servicer means the person who assumes the tasks of the Seller with regard to the collection of Purchased Receivables and the realisation of the Accessory Related Security in the event that the Seller ceases, or is no longer permitted to collect Purchased Receivables pursuant to the Master Receivables Purchase Agreement.
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Substitute Servicer has the meaning set out in the Back-Up Servicer Agreement.
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Substitute Servicer means an entity appointed as Servicer under clause 3.4 of the Master Servicer Deed.
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Substitute Servicer as defined in subsection 12.2(d) of the Receivables Transfer Agreement.
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Related to Substitute Servicer

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

  • Replacement Servicer has the meaning assigned to that term in Section 6.01(c).

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • Special Servicer means the special servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization Servicing Agreement.

  • Successor Servicer has the meaning specified in Section 3.07(e).

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Approved Servicer shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Substitute care means the out-of-home placement of a child or young adult who is in the legal or physical custody and care of the Department.

  • Interim Servicer The servicer under the Interim Servicing Agreement, or its successor in interest, or any successor to the Interim Servicer under the Interim Servicing Agreement, as therein provided.

  • Back-Up Servicer means Xxxxx Fargo Bank, National Association and its permitted successors and assigns, as provided in the Indenture.