Underlying Servicer definition
Underlying Servicer means, with respect to a Portfolio Asset consisting of a loan participation, any sub-agent or servicer appointed by the Underlying Agent or trustee or similar agent for such Portfolio Asset to administer and service the Underlying Loan Obligations for such Portfolio Asset.
Underlying Servicer means, with respect to a Loan Asset, any agent, sub-agent or servicer appointed by the lender or lenders or the administrative agent or other similar agent for such lender or lenders, for such Loan Asset to administer and service such Loan Asset or the Underlying Loan Obligations for such Loan Asset.
Underlying Servicer. With respect to any Underlying Mortgage Loan, the servicer of such Underlying Mortgage Loan.
Examples of Underlying Servicer in a sentence
The Loan Parties will not make any change, or permit the Portfolio Asset Servicer to make any change, in its instructions to the Obligors or any agent, administrative agent, counterparty lender, Underlying Agent or Underlying Servicer, as applicable, regarding payments to be made with respect to the related Portfolio Asset to the Collection Account, as applicable.
More Definitions of Underlying Servicer
Underlying Servicer. Bank of America, National Association. Underlying Transaction: Each of (i) Banc of America Mortgage Trust 2005-3, (ii) Banc of America Alternative Loan Trust 2005-11 and (iii) Banc of America Alternative Loan Trust 2006-9, as applicable.
Underlying Servicer means, (i) initially, Greystone Servicing Company LLC, or (ii) any other agent, sub-agent, or servicer reasonably acceptable to the Initial Lender and appointed by the Borrower or the Portfolio Asset Servicer to administer and service the Underlying Loan Obligations for such Portfolio Asset.
Underlying Servicer. Each of Temple-Inland Mortgage Corporation, Cendant Mortgage Corporation and Chase Mortgage Company, and their respective permitted successors and assigns under the related Underlying Servicing Agreements, as servicers of the related Servicing Retained Mortgage Loans pursuant to the related Underlying Servicing Agreements.
Underlying Servicer shall have the meaning set forth in the Recitals hereto. “Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the State of New York; provided that if by reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interest in any Purchased Mortgage Loan, Servicing Rights, Related Purchased Mortgage LoansAssets or the continuation, renewal or enforcement thereof is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions of the Agreement relating to such perfection or effect of perfection or non-perfection. “Unscheduled Payment” shall mean, with respect to aany Mortgage Loan that is a HomeSafe Flex or HomeSafe Select, a payment to a Mortgagor of a requested draw amount or other such amounts disbursed on behalf of the Mortgagor from Set-Aside Amounts which is added to the Principal Balance pursuant to the terms of the related Mortgage Loan. “UPI Modification” shall have the meaning set forth in Section 12(i) of the Agreement. “UPI Party” shall mean, individually and collectively, as the context may require, each of the Participation Trustee, the Participation Trust, the Participation Trust Manager, the Participation Seller, the Participation Registrar, the Participation Paying Agent, the Underlying Servicer, the UTI Trust, the Depositor, the Series Trust Manager, the UTI Trustee, the Series Trustee, and the Series 2023-GOT Trust. “UTI Trust” shall have the meaning set forth in the Recitals hereto “UTI Trustee” shall have the meaning set forth in the Recitals hereto. “U.S. Government Securities Business Day” shall mean any day except for (i) a Saturday, (ii) a Sunday and (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “Warehouse Lender” shall mean any Person, if any, that has at any time had any security interest, pledge or hypothecation of the Purchased Mortgage Loans for the benefit of such Person. “Yield Maintenance Fee” shall have the meaning specified in the Pricing Letter.
Underlying Servicer shall have the meaning set forth in the Recitals hereto. “Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the State of New York; provided that if by reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interest in any Purchased Mortgage Loan, Servicing Rights, Related Purchased Mortgage LoansAssets or the continuation, renewal or enforcement thereof is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions of the Agreement relating to such perfection or effect of perfection or non-perfection. “Unscheduled Payment” shall mean, with respect to aany Mortgage Loan that is a HomeSafe Flex or HomeSafe Select, a payment to a Mortgagor of a requested draw amount or other such amounts disbursed on behalf of the Mortgagor from Set-Aside Amounts which is added to the Principal Balance pursuant to the terms of the related Mortgage Loan. “UPI Modification” shall have the meaning set forth in Section 12(i) of the Agreement. “UPI Party” shall mean, individually and collectively, as the context may require, each of the Participation Trustee, the Participation Trust, the Participation Trust Manager, the Participation Seller, the Participation Registrar, the Participation Paying Agent, the Underlying Servicer, the UTI Trust, the Depositor, the Series Trust Manager, the UTI Trustee, the Series Trustee, and the Series 2023-GOT Trust. “UTI Trust” shall have the meaning set forth in the Recitals hereto “UTI Trustee” shall have the meaning set forth in the Recitals hereto. “U.S. Government Securities Business Day” shall mean any day except for (i) a Saturday, (ii) a Sunday and (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “Warehouse Lender” shall mean any Person, if any, that has at any time had any security interest, pledge or hypothecation of the Purchased Mortgage Loans for the benefit of such Person. “Yield Maintenance Fee” shall have the meaning specified in the Pricing Letter.