SCRA Sample Clauses
The SCRA clause refers to provisions that ensure compliance with the Servicemembers Civil Relief Act, a federal law that provides certain legal protections to active duty military personnel. In practice, this clause may require parties to delay or modify contractual obligations, such as payment schedules or foreclosure proceedings, if one party is called to active military service. Its core function is to protect servicemembers from legal or financial disadvantages that could arise due to their military duties, ensuring fairness and compliance with federal law.
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SCRA. No Mortgagor has notified the Seller and the Seller has no knowledge of any relief requested or allowed to the Mortgagor under the Servicemembers Civil Relief Act, as amended, or similar state statute or regulation.
SCRA. Other than as set forth on the Data Tape, no Mortgagor with respect to any Mortgage Loan has notified the Seller, and the Seller has no knowledge of any relief requested or allowed to any Mortgagor under the SCRA or similar state statute or regulation. For any Mortgage Loan disclosed on the Data Tape as being an SCRA loan, there have been no failures to comply with Applicable Requirements with respect to such SCRA loan.
SCRA. As of the Sale Date and Servicing Transfer Date, no Mortgagor has notified the Seller and the Seller has no knowledge of any relief requested or allowed to the Mortgagor under the Servicemembers Civil Relief Act, as amended, or similar state statute or regulation.
SCRA. Except as identified on the Mortgage Loan Schedule, no Mortgagor has notified the Seller and the Seller has no knowledge of any relief requested or allowed to the Mortgagor under the Servicemembers Civil Relief Act, as amended, or similar state statute or regulation.
SCRA. The Servicemembers Civil Relief Act allows military members to suspend or postpone certain civil obligations so that military members can devote their full attention to military duties. In accordance with the SCRA, Raiseli must adjust the interest rate of borrowers on active duty and other military personnel who qualify for and request relief. If a borrower with an outstanding borrower loan is called to active military duty, Raiseli will reduce the interest rate on the borrower loan to 6% for the duration of the borrower’s active duty. For borrowers to obtain an interest rate reduction on a borrower loan due to military service, Raiseli will require the borrower to send in a written
SCRA. The Servicemembers’ Civil Relief Act, formerly known as the Soldiers’ and Sailors’ Civil Relief Act.
SCRA. Seller has evaluated all Mortgage Loans in foreclosure proceedings against the Defense Manpower Data Center (“DMDC”) database to determine the Mortgagor is entitled the benefits of the Servicemember’s Civil Relief Act, as amended (“SCRA”), and Seller has complied with all requirements of the SCRA in all material respects.
SCRA. Seller has no knowledge of the Mortgagor qualifying for protection under the federal Servicemembers Civil Relief Act or any similar state or federal law.