Servicer Eligibility Standards Sample Clauses

Servicer Eligibility Standards. To service Mortgage Loans under this Agreement the Servicer must satisfy the eligibility standards set forth in this Section 4.1 initially and at all times thereafter.
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Servicer Eligibility Standards. 4.1.1. Regulatory Approvals and Licensing.......................... 4.1.2. Net Worth and Portfolio Requirements........................ 4.1.3. Auditor's Opinion; Other Annual Reports and Exchange Act Reporting................................................... 4.1.4. Use of Subservicers and Subcontractors...................... 4.1.5. Servicing Experience........................................ 4.1.6. Material Changes............................................ Section 4.2 Errors and Omissions Insurance................................. 4.2.1. E & O Requirement........................................... 4.2.2. E & O Scope................................................. 4.2.3. E & O Policy Maintenance.................................... 4.2.4. E & O Deductible............................................ 4.2.5. E & O Qualifications........................................ Section 4.3 Fidelity Bond Coverage......................................... 4.3.1. Fidelity Bond Requirement................................... 4.3.2. Fidelity Bond Coverage...................................... 4.3.3. Fidelity Bond Scope......................................... 4.3.4. Fidelity Bond Maintenance................................... 4.3.5. Fidelity Bond Deductible.................................... 4.3.6. Fidelity Bond Rating Requirement............................
Sample 1Sample 2Sample 3See All (52)
Servicer Eligibility Standards. 4.1.1. Regulatory Approvals and Licensing.......................... 4.1.2. Net Worth and Portfolio Requirements........................ 4.1.3. Auditor's Opinion; Other Annual Reports and Exchange Act Reporting................................................... 4.1.4. Use of Subservicers and Subcontractors...................... 4.1.5. Servicing Experience........................................ 4.1.6. Material Changes............................................ Section 4.2
Sample 1Sample 2See All (17)
Servicer Eligibility Standards. 24 4.1.1. Regulatory Approvals and Licensing...........................24 4.1.2. Net Worth and Portfolio Requirements.........................24 4.1.3. Auditor's Opinion and Other Annual Reports...................24 4.1.4. Reports from Affiliates and Third Parties....................27 4.1.5. Servicing Experience.........................................27 4.1.6. Material Changes.............................................27 Section 4.2 Errors and Omissions Insurance...............................28 4.2.1. E & O Requirement............................................28 4.2.2. E & O Scope..................................................28 4.2.3. E & O Policy Maintenance.....................................28 4.2.4. E & O Deductible.............................................28 4.2.5. E & O Qualifications.........................................29 4.2.6. Notice of Claim..............................................29
Sample 1
Servicer Eligibility Standards. 27 4.1.1 Regulatory Approvals and Licensing . . . . . . . . . . . . 27 4.1.2 Net Worth and Portfolio Requirements . . . . . . . . . . . 27 4.1.3 Auditor's Opinion and Other Annual Reports . . . . . . . . 27 4.1.4 Servicing Experience . . . . . . . . . . . . . . . . . . . 28 4.1.5 Material Changes . . . . . . . . . . . . . . . . . . . . . 00 Xxxxxxx 4.2 Errors and Omissions Insurance . . . . . . . . . . . . . . 29 4.2.1 E & O Requirement. . . . . . . . . . . . . . . . . . . . . 29 4.2.2 E & O Scope. . . . . . . . . . . . . . . . . . . . . . . . 30 4.2.3 E & O Policy Maintenance . . . . . . . . . . . . . . . . . 30 4.2.4 E & O Deductible . . . . . . . . . . . . . . . . . . . . . 30 4.2.5 E & O Qualifications . . . . . . . . . . . . . . . . . . . 30 4.2.6 Notice of Claim. . . . . . . . . . . . . . . . . . . . . . 30 Section 4.3 Fidelity Bond Coverage . . . . . . . . . . . . . . . . . . 30 4.3.1 Fidelity Bond Requirement. . . . . . . . . . . . . . . . . 30 4.3.2 Fidelity Bond Coverage . . . . . . . . . . . . . . . . . . 30 4.3.3 Fidelity Bond Scope. . . . . . . . . . . . . . . . . . . . 30 4.3.4 Fidelity Bond Maintenance. . . . . . . . . . . . . . . . . 30 4.3.5 Fidelity Bond Deductible . . . . . . . . . . . . . . . . . 31 4.3.6 Fidelity Bond Rating Requirement . . . . . . . . . . . . . 31 4.3.7 Notice of Event. . . . . . . . . . . . . . . . . . . . . . 31 Section 4.4 Servicer's Liability . . . . . . . . . . . . . . . . . . . 31 4.4.1 Liability Exposure . . . . . . . . . . . . . . . . . . . . 31 4.4.2 Scope of Liability . . . . . . . . . . . . . . . . . . . . 31 Section 4.5 Indemnification. . . . . . . . . . . . . . . . . . . . . . 32 4.5.1 Scope of Indemnity . . . . . . . . . . . . . . . . . . . . 32 4.5.2 Survival of Indemnity. . . . . . . . . . . . . . . . . . . 32 Section 4.6 Servicer's Compensation. . . . . . . . . . . . . . . . . . 32 4.6.1 Servicing Fee Amount . . . . . . . . . . . . . . . . . . . 32 4.6.2 Servicing Fee Source . . . . . . . . . . . . . . . . . . . 33
Sample 1

Related to Servicer Eligibility Standards

  • Service Eligibility Criteria 4.3.4.1 High capacity EELs must comply with the following service eligibility requirements:

  • Eligibility Requirements The Trustee hereunder shall at all times (i) be a corporation or association having its principal office in a state and city acceptable to the Seller, organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, or shall be a member of a bank holding system, the aggregate combined capital and surplus of which is at least $50,000,000, provided that its separate capital and surplus shall at all times be at least the amount specified in Section 310(a)(2) of the Trust Indenture Act of 1939, (ii) be subject to supervision or examination by federal or state authority and (iii) have a credit rating or be otherwise acceptable to the Rating Agencies such that neither of the Rating Agencies would reduce their respective then current ratings of the Certificates (or have provided such security from time to time as is sufficient to avoid such reduction) as evidenced in writing by each Rating Agency. If such corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation or association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.08.

  • Wire Transfer Eligibility Section 11.24

  • Eligibility Criteria (i) Employees covered by this clause will be those who are unable to perform the range of duties to the competence level required within the class of work for which the employee is engaged under this Agreement, because of the effects of a disability on their productive capacity and who meet the impairment criteria for receipt of a Disability Support Pension.

  • Eligibility Requirements for the Owner Trustee The Owner Trustee shall at all times be a bank (i) authorized to exercise corporate trust powers, (ii) having a combined capital and surplus of at least $50,000,000 and (iii) subject to supervision or examination by Federal or state authorities. If such bank shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Owner Trustee shall at all times be an institution satisfying the provisions of Section 3807(a) of the Statutory Trust Statute. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2.

  • Student Eligibility A. The Texas Success Initiative (TSI) requires mandatory assessment for all students to determine college readiness in reading, writing and math. The xxxx authorizes the Texas Higher Education Coordinating Board to prescribe assessment instruments with a statewide passing standard. The initiative allows an institution to determine when a student is ready to perform college‐level coursework. High School students who seek to register in a dual credit course, which will grant college credit must prove “college readiness” by achieving a college level score as outlined in Appendix A.

  • Eligibility Requirements for Trustee The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority. If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07.

  • Eligibility Requirements for Trustees The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a Corporation organized and doing business under the laws of the United States of America or of any state, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by federal or state authority and (iii) acceptable to the Rating Agencies. If such Corporation publishes reports of condition at least annually, pursuant to law or to the requirements of any aforementioned supervising or examining authority, then for the purposes of this Section 8.06, the combined capital and surplus of such Corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee hereunder shall at all times have its principal place of business in the State of Delaware and shall satisfy the applicable requirements under the laws of the State of Delaware authorizing it to act as the Delaware trustee of the Trust. In case at any time the Trustee or the Delaware Trustee shall cease to be eligible in accordance with the provisions of this Section 8.06, such trustee shall resign immediately in the manner and with the effect specified in Section 8.07.

  • Eligibility Requirements for the Trustee The Trustee hereunder shall at all times be a corporation or association organized and doing business under the laws of a state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by federal or state authority and with a credit rating which would not cause either of the Rating Agencies to reduce their respective then current ratings of the Certificates (or having provided such security from time to time as is sufficient to avoid such reduction) as evidenced in writing by each Rating Agency. If such corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 8.06 the combined capital and surplus of such corporation or association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with this Section 8.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07. The entity serving as Trustee may have normal banking and trust relationships with the Depositor and its affiliates or the Master Servicer and its affiliates; provided, however, that such entity cannot be an affiliate of the Seller, the Depositor or the Master Servicer other than the Trustee in its role as successor to the Master Servicer.

  • Eligibility Requirements for Owner Trustee The Owner Trustee shall at all times be a corporation satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized to exercise corporate trust powers; having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authorities; and having (or having a parent that has) a rating of at least Baa3 by Moody's or is otherwise acceptable to the Rating Agencies. If such corporation shall publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section 9.01, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 9.02.

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