Relationship of Master Servicer Sample Clauses

Relationship of Master Servicer. The relationship of the Master Servicer (and of any Successor Master Servicer under this Agreement) to the Trustee and the Depositor under this Agreement is intended by the parties hereto to be that of an independent contractor and not of a joint venturer, partner or agent of the Trustee or the Depositor, except as otherwise stated herein.
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Relationship of Master Servicer. 124 Section 8.04. Indemnities of the Master Servicer. 124 ARTICLE IX CONCERNING THE TRUSTEE 124
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Relationship of Master Servicer. 118 Section 8.04. Indemnities of the Master Servicer. 118 ARTICLE IX CONCERNING THE TRUSTEE 119 Section 9.01. Duties of Trustee. 119 Section 9.02. Certain Matters Affecting the Trustee. 120 Section 9.03. Trustee’s Disclaimer. 121 Section 9.04. Trustee May Own Certificates. 121 Section 9.05. Compensation and Indemnity. 121 Section 9.06. Replacement of Trustee. 122 Section 9.07. Successor Trustee by Merger. 123 Section 9.08. Appointment of Co-Trustee or Separate Trustee. 123 Section 9.09. Eligibility; Disqualification. 124 Section 9.10. Fees and Expenses. 124 Section 9.11. Representations and Warranties. 125 ARTICLE X MISCELLANEOUS 125
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Relationship of Master Servicer. 90 Section 8.04. Indemnities of the Master Servicer. 91 Section 8.05. Liability of Owner Trustee. 91 ARTICLE IX [RESERVED] 91 ARTICLE X MISCELLANEOUS 92 Section 10.01. Termination of Agreement. 92 Section 10.02. Optional Termination. 92 Section 10.03. Certain Notices upon Final Payment. Section 10.04. Beneficiaries. Section 10.05. Amendment.
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Relationship of Master Servicer. 103 Section 9.04. Indemnities of the Master Servicer. 103 Section 9.05. Liability of Owner Trustee. 104 ARTICLE X [RESERVED] 104 ARTICLE XI MISCELLANEOUS 104 Section 11.01. Termination of Agreement. 104 Section 11.02. Optional Termination. 105 Section 11.03. Certain Notices upon Final Payment. 105 Section 11.04. Beneficiaries. 106 Section 11.05. Amendment. 106 Section 11.06. Notices. 107 Section 11.07. Merger and Integration. 109 Section 11.08. Headings. 109 Section 11.09. Provision of Information. 109 Section 11.10. Severability of Provisions. 109 Section 11.11. No Proceedings. 110 Section 11.12. Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. 110 Section 11.13. Counterparts. 111 Section 11.14. Taxes. 111 Section 11.15. Additional Limitation on Action and Imposition of Tax. 112 Section 11.16. Periodic Filings. 112 Section 11.17. Rule 144A Information; Periodic Filings. 113 Section 11.18. Reporting Requirements of the Commission and Indemnification. 114 EXHIBITS Exhibit A Form of Master Servicer’s Monthly Report Exhibit B Form of Initial Certification Exhibit C Form of Interim Certification Exhibit D Form of Final Certification Exhibit E Form of Request for Release of Documents Exhibit F Swap Agreements Exhibit G Rate Protection Agreements Exhibit H Reserved Exhibit I Form of Confirmation and Confidentiality Agreement SCHEDULES Schedule I Mortgage Loan Schedule Schedule I-A Performing Mortgage Loans Schedule I-B Non-Performing Mortgage Loans Schedule I-C Simple Interest Mortgage Loans Schedule I-D [Reserved] Schedule I-E Prepayment Premium Conveyed Mortgage Loans Schedule I-F Bi-Weekly Mortgage Loans Schedule I-G Convertible Mortgage Loans Schedule I-H [Reserved] Schedule I-I [Reserved] Schedule I-J [Reserved] [The provisions of the Transfer and Servicing Agreement for each series will be modified as applicable. References herein to a master servicer will only be applicable to each series for which a master servicer has been identified.] TRANSFER AND SERVICING AGREEMENT, dated as of [ ] (this “Agreement” or “Transfer and Servicing Agreement”), among Aegis Asset Backed Securities Trust 20[ ]-[ ], as Issuer (the “Issuer”), [ ], a [ ], its successors and permitted assigns, as Servicer (the “Servicer”), [ ], a [ ], its successors and permitted assigns, as Master Servicer (the “Master Servicer”), Aegis Asset Backed Securities Corporation, a Delaware corporation, as Depositor (the “Depositor”), and [ ], a [ ], its successors and permitted assigns, ...
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Related to Relationship of Master Servicer

  • Duties of Master Servicer The Master Servicer, acting alone and/or through one or more Subservicers as provided in this Section, shall, as agent for the Indenture Trustee, the Owner Trustee and the Insurer, manage, service, administer and make collections on the Contracts. The Master Servicer agrees that its servicing of the Contracts shall be carried out in accordance with customary and usual procedures of financial institutions which service motor vehicle retail installment sales contracts and installment loans and, to the extent more exacting, the procedures used by the Master Servicer in respect of such contracts serviced by it for its own account. In accordance with the foregoing, the Master Servicer may, whenever an Obligor has become delinquent or the Master Servicer believes an Obligor may become delinquent, in order to preserve the ultimate collectability of amounts due on a Contract, modify the payment schedule on any Contract by reducing the APR on such Contract without the consent of the Insurer or any Rating Agency; provided, however, that the new APR shall not be less than the sum of (i) the Pass-Through Rate, (ii) the Servicing Fee Percent and (iii) the Retained Yield Percent. In addition, in order to preserve the Trust Estate, the Master Servicer may, without the consent of any Rating Agency or the Insurer, reduce the principal amount of a Contract (i.e., write-down a portion of the principal amount due on such Contract and, accordingly, lower the Monthly P&I on such Contract) to the extent funds are available in the Spread Account to cover such reduction; provided however, the total amount of such modifications pursuant to the immediately preceding sentence and this sentence and reductions (i) may not affect more than 1% of the Original Pool Balance through the Certificate Final Distribution Date and (ii) during each three-month period between Distribution Dates (or in the case of the first Distribution Date, from the Cut-Off Date to such Distribution Date) shall not affect Contracts having an aggregate Scheduled Balance greater than 10/100 of one percent of the Pool Balance at the beginning of such period. Any such modifications or reductions exceeding such limits may be made only with the consent of the Insurer and each Rating Agency. The Master Servicer may also extend the Maturity Date on a Contract in accordance with Section 4.02. The Master Servicer's duties shall include collection and posting of all payments, responding to inquiries of Obligors on the Contracts, investigating delinquencies, sending payment coupons to Obligors, reporting tax information to Obligors, accounting for collections, furnishing monthly and annual statements to the Indenture Trustee, the Owner Trustee and the Insurer with respect to distributions and filing applicable U.S. tax returns for the Trust on an annual basis, based on a tax year for the Trust that is the calendar year. The Master Servicer shall have, subject to the terms hereof, full power and authority, acting alone, and subject only to the specific requirements and prohibitions of this Agreement, to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable; provided, however, that the Master Servicer shall commence repossession efforts in respect of any Financed Vehicle respecting which the related Contract is four or more months delinquent. Without limiting the generality of the foregoing, but subject to the provisions of this Agreement, the Master Servicer is authorized and empowered by the Indenture Trustee and the Owner Trustee to execute and deliver, on behalf of itself, the Trust, the Insurer, the Noteholders, the Certificateholders, the Indenture Trustee, the Owner Trustee or any of them,

  • Resignation of Master Servicer Except as otherwise provided in Sections 9.27 and 9.29 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless it determines that the Master Servicer’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be Independent to such effect delivered to the Trustee and any NIMS Insurer. No such resignation shall become effective until the Securities Administrator shall have assumed, or a successor master servicer acceptable to any NIMS Insurer and the Securities Administrator shall have been appointed by the Trustee and until such successor shall have assumed, the Master Servicer’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee, the Securities Administrator and any NIMS Insurer.

  • The Master Servicer The Master Servicer shall service and administer the Mortgage Loans in a manner consistent with the terms of this Agreement and with general industry practice and shall have full power and authority, acting alone or through a subservicer, (i) to execute and deliver, on behalf of the Noteholders, the Trust, and the Indenture Trustee, customary consents or waivers and other instruments and documents, (ii) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (iii) to collect any Insurance Proceeds and other Liquidation Proceeds, and (iv) to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan. The Master Servicer shall remain responsible to the parties to this Agreement and the Credit Enhancer for its obligations under this Agreement. Any amounts received by any subservicer on a Mortgage Loan shall be considered to have been received by the Master Servicer whether or not actually received by it. Without limiting the generality of the foregoing, the Master Servicer may execute and deliver, on behalf of itself, the Noteholders, and the Indenture Trustee, or any of them, any instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties, in each case to the extent not inconsistent with this Agreement. At the request of a Servicing Officer, the Indenture Trustee shall furnish the Master Servicer with any powers of attorney and other documents appropriate to enable the Master Servicer to carry out its servicing and administrative duties under this Agreement. The Master Servicer in this capacity may also consent to the placing of a lien senior to that of any mortgage on the related Mortgaged Property, if

  • No Contractual Relationship Between Subservicers and the Trustee Any subservicing arrangement that may be entered into and any other transactions or services relating to the Mortgage Loans involving a Subservicer in its capacity as such and not as an originator shall be deemed to be solely between the Subservicer and the Master Servicer alone, and the Trustee and Certificateholders shall not be deemed parties thereto and shall have no claims, rights, obligations, duties, or liabilities with respect to the Subservicer in its capacity as such except as set forth in Section 3.05.

  • No Contractual Relationship Between Subservicer and Trustee or Certificateholders Any Subservicing Agreement that may be entered into and any other transactions or services relating to the Mortgage Loans involving a Subservicer in its capacity as such and not as an originator shall be deemed to be between the Subservicer and the Master Servicer alone and the Trustee and the Certificateholders shall not be deemed parties thereto and shall have no claims, rights, obligations, duties or liabilities with respect to the Subservicer in its capacity as such except as set forth in Section 3.06. The foregoing provision shall not in any way limit a Subservicer's obligation to cure an omission or defect or to repurchase a Mortgage Loan as referred to in Section 2.02 hereof.

  • Termination of the Master Servicer or the Special Servicer Notwithstanding anything to the contrary contained in this Agreement, the Depositor may terminate the Master Servicer or the Special Servicer upon five (5) Business Days’ notice if the Master Servicer or the Special Servicer, as applicable, fails to comply with any of its respective obligations under this Article X; provided that such termination shall not be effective until a successor master servicer or special servicer, as applicable, shall have accepted the appointment.

  • Covenants of the Master Servicer and each Servicer The Master Servicer and each Servicer, severally and not jointly, hereby covenants to the Depositor, the Trustee and the Trust Administrator as follows:

  • Duties of the Master Servicer The Certificateholders, by their purchase and acceptance of the Certificates, appoint Aurora Loan Services Inc., as Master Servicer. For and on behalf of the Depositor, the Trustee and the Certificateholders, the Master Servicer shall master service the Mortgage Loans in accordance with the provisions of this Agreement and the provisions of the applicable Servicing Agreement.

  • No Contractual Relationship Between Any Servicer and Trustee or Depositor Any Servicing Agreement that may be entered into and any other transactions or services relating to the Mortgage Loans involving any Servicer in its capacity as such and not as an originator shall be deemed to be between such Servicer, the Seller and the Master Servicer, and the Trustee, any NIMS Insurer and the Depositor shall not be deemed parties thereto and shall have no obligations, duties or liabilities with respect to such Servicer except as set forth in Section 9.10 hereof, but shall have rights thereunder as third party beneficiaries. It is furthermore understood and agreed by the parties hereto that the obligations of any Servicer are set forth in their entirety in such Servicer’s related Servicing Agreement and such Servicer has no obligations under and is not otherwise bound by the terms of this Agreement.

  • Liability of the Master Servicer Notwithstanding any Subservicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Master Servicer or a Subservicer or reference to actions taken through a Subservicer or otherwise, the Master Servicer shall remain obligated and liable to the Trustee and the Certificateholders for the servicing and administering of the Mortgage Loans in accordance with the provisions of Section 3.01 without diminution of such obligation or liability by virtue of such Subservicing Agreements or arrangements or by virtue of indemnification from the Subservicer or the Company and to the same extent and under the same terms and conditions as if the Master Servicer alone were servicing and administering the Mortgage Loans. The Master Servicer shall be entitled to enter into any agreement with a Subservicer or Seller for indemnification of the Master Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

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