Administration and Servicing of Collateral Obligations Sample Clauses

Administration and Servicing of Collateral Obligations. 54 Section 7.1 Retention and Termination of the Servicer 54
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Administration and Servicing of Collateral Obligations. Section 7.1 Retention and Termination of the Servicer 67 Section 7.2 Resignation and Removal of the Servicer; Appointment of Successor Servicer 67 Section 7.3 Duties of the Servicer 68 Section 7.4 Representations and Warranties of the Servicer 70 Section 7.5 Covenants of the Servicer and Equityholder 72 Section 7.6 Servicing Fees; Payment of Certain Expenses by Servicer 77 Section 7.7 Collateral Reporting 77 Section 7.8 Notices 77 Section 7.9 Procedural Review of Collateral Obligations; Access to Servicer and Servicer’s Records 77 Section 7.10 Optional Sales 78 Section 7.11 Repurchase or Substitution of Warranty Collateral Obligations 80 Section 7.12 Servicing of REO Assets 81 ARTICLE VIII ACCOUNTS; PAYMENTS Section 8.1 Accounts 82 Section 8.2 Excluded Amounts 84 Section 8.3 Distributions, Reinvestment and Dividends 84 Section 8.4 Fees 88 Section 8.5 Monthly Report 88 ARTICLE IX REPRESENTATIONS AND WARRANTIES OF THE BORROWER Section 9.1 Organization and Good Standing 89 Section 9.2 Due Qualification 89 Section 9.3 Power and Authority 89 Section 9.4 Binding Obligations 89 Section 9.5 Security Interest 90 Section 9.6 No Violation 91 Section 9.7 No Proceedings 91 Section 9.8 No Consents 91 Section 9.9 Solvency 91 Section 9.10 Compliance with Laws 91 Section 9.11 Taxes 91 Section 9.12 Monthly Report 92 Section 9.13 No Liens, Etc. 92 Section 9.14 Information True and Correct 92 Section 9.15 Bulk Sales 93 Section 9.16 Collateral 93 Section 9.17 Selection Procedures 93 Section 9.18 Indebtedness 93 Section 9.19 No Injunctions 93 Section 9.20 No Subsidiaries 93 Section 9.21 ERISA Matters 93 Section 9.22 Investment Company Status 94 Section 9.23 Set-Off, Etc. 94 Section 9.24 Collections 94 Section 9.25 Value Given 94 Section 9.26 Use of Proceeds 94 Section 9.27 Separate Existence 94 Section 9.28 Transaction Documents 95 Section 9.29 EEA/UK Financial Institution 95 Section 9.30 Anti-Terrorism, Anti-Money Laundering 95 Section 9.31 Anti-Bribery and Corruption 96 Section 9.32 Xxxxxxx Rule 96 Section 9.33 AIFMD 96 ARTICLE X COVENANTS Section 10.1 Protection of Security Interest of the Secured Parties 97 Section 10.2 Other Liens or Interests 98 Section 10.3 Costs and Expenses 98 Section 10.4 Reporting Requirements 98 Section 10.5 Separate Existence 98 Section 10.6 Hedging Agreements 101 Section 10.7 Tangible Net Worth 103 Section 10.8 Taxes 103 Section 10.9 Merger, Consolidation, Etc. 104 Section 10.10 Deposit of Collections 104 Section 10.11 Indebtedness; Guarantees 104...
Administration and Servicing of Collateral Obligations 

Related to Administration and Servicing of Collateral Obligations

  • Administration and Servicing of Loans Section 3.1 Servicer to Act as Servicer; Administration of the Loans..............................45 Section 3.2 Collection of Certain Loan Payments; Custodial Account for P&I........................48 Section 3.3 Permitted Withdrawals from the Custodial Account for P&I..............................50 Section 3.4 Taxes, Assessments and Similar Items; Escrow Accounts.................................51 Section 3.5 Maintenance of Insurance..............................................................52

  • Administration and Servicing of Mortgage Loans 45 Section 3.01. Master Servicer to Act as Servicer...................................45 Section 3.02. Subservicing Agreements Between Master Servicer and Subservicers; Enforcement of Subservicers' and Sellers' Obligations.........46

  • Administration and Servicing of Contracts Section 6.01 [Reserved].

  • ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 3.01 The Master Servicer to act as Master Servicer.

  • ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS Section 3.01 Master Servicing of Mortgage Loans.......................... Section 3.02

  • Administration and Servicing of Receivables SECTION 4.1

  • ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER Section 9.01 Duties of the Master Servicer; Enforcement of Servicer’s and Master Servicer’s Obligations.

  • Administration of the Mortgage Loans (a) All of the Serviced Mortgage Loans and Administered REO Properties are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Mortgage Loans and Administered REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of a Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s)), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement; (iii) the express terms of the respective Serviced Mortgage Loans and any and all related intercreditor, co-lender or similar agreements (including with respect to performing the duties of the holders of the respective Serviced Mortgage Loans thereunder (to the extent not inconsistent with this Agreement and to the extent consistent with the Servicing Standard)); and (iv) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Serviced Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing and subject to Section 3.21, (i) the Master Servicer shall service and administer all of the Performing Serviced Mortgage Loans and shall render such services with respect to the Specially Serviced Mortgage Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to Performing Serviced Mortgage Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.21.

  • Administration and Servicing of the Trust Fund Section 3.01 Master Servicer to Act as Master Servicer; Special

  • Master Servicing of Mortgage Loans For and on behalf of the Certificateholders, the Master Servicer shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with this Agreement, subject to the prior two sentences, and with customary and usual standards of practice of prudent mortgage loan master servicers. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time to time to carry out the Master Servicer’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the Servicers’ and Master Servicer’s records, and based on such reconciled and corrected information, prepare the statements specified in Section 4.04 and any other information and statements required hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicers to the Collection Account pursuant to the applicable Servicing Agreements. In accordance with the standards of the preceding paragraph and to the extent the related Servicer does not make such advance, the Master Servicer shall advance or cause to be advanced funds as necessary for the purpose of effecting the payment of taxes and assessments on the Mortgaged Properties, which advances shall be reimbursable in the first instance from related collections from the Mortgagors pursuant to Section 3.07, and further as provided in Section 3.08. The costs incurred by the Master Servicer, if any, in effecting the timely payment of taxes and assessments on the Mortgaged Properties and related insurance premiums shall not, for the purpose of calculating monthly distributions to the Certificateholders, be added to the Scheduled Principal Balances of the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

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