Servicing Performance Evaluations Clause Samples

Servicing Performance Evaluations. Within 60 days after the reporting by the Trustee in its monthly statement pursuant to Section 4.03 of a Cumulative Loss Percentage which would cause a Servicing Evaluation Trigger to be in effect, the Trustee shall select and engage a nationally recognized independent auditor, approved in writing by the Rating Agencies (provided, however, that if the Trustee does not receive the written approval of any Rating Agency within 20 days of selecting an independent auditor, such Rating Agency will be deemed to have approved of such auditor), to evaluate the performance of the Servicer. Such engagement by the Trustee shall require the auditor to select a statistical sample of Delinquent Mortgage Loans (comprising a percentage (determined by the independent auditor in its sole discretion, which percentage shall not exceed 50%) of all Delinquent Mortgage Loans by unpaid principal balance as of the date the Servicer Evaluation Trigger occurred) and to examine the Servicer's servicing practices with respect to such Mortgage Loans (including, without limitation, examining payment histories, documentation relating to the Servicer's contacts with the related Mortgagors and documents contained in the Servicing File) for the period of 24 months prior to such examination or, with respect to an examination taking place within 24 months of the Closing Date, the period beginning on the Closing Date and ending on the date of such examination. Such engagement by the Trustee shall also require the auditor to compare such servicing practices of the Servicer with respect to the selected Mortgage Loans to the Performance Standards set forth on Exhibit L hereto and to evaluate the Servicer's compliance with the Performance Standards. The evaluation process described above in this Section 3.27 is referred to herein as a "Servicer Performance Evaluation" and is subject in all respects to the approval of the Rating Agencies. In the engagement, the Trustee shall require the auditor to deliver the results of its Servicer Performance Evaluation to the Trustee and the Rating Agencies and the Trustee shall report such Servicer Performance Evaluation results to Certificateholders in its monthly statement, made pursuant to Section 4.03. At their option, each Rating Agency shall have the right to review all of the information provided to the independent auditor in connection with a Servicer Performance Evaluation so as to allow such Rating Agency to evaluate the Servicer's compliance with the ...
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Related to Servicing Performance Evaluations

  • Performance Evaluations Employee performance shall be evaluated and communicated on a yearly basis as required under County policy. Performance evaluations are used to demonstrate to employees that they are valued; record how an employee’s performance meet the requirements of the job; create a job history record; identify employee strengths and areas for enhancement; assist the employee and supervisor in an effort to attain the highest level of performance; and reinforce performance standards. Every effort will be made to include substantiated information within an employee’s performance evaluation. Non-recurring discipline history which is more than two (2) years old will not be referenced in performance evaluations. The County shall ensure employee performance evaluations are conducted in accordance with County and departmental policy. Performance evaluations and disciplinary matters shall only be conducted by County employees. When an employee who does not agree with the overall rating he/she receives on his/her written performance evaluation, he/she shall discuss and attempt to resolve the differences with his/her immediate supervisor. If discussion with his/her immediate supervisor does not result in resolution of the differences, the employee may file a written request to meet with the next level of management. Said request shall state the unresolved issues and the specific changes in the written performance evaluation the employee is seeking. The appropriate manager shall meet with the employee to discuss the unresolved issues. If the issues are not resolved to the employee’s satisfaction following discussion with the appropriate manager, the employee may within thirty (30) working days file a written request for a meeting with the department head. Within fourteen (14) working days of receipt of a written request stating the unresolved issues and the desired changes in the written performance evaluation, the department head shall meet with the employee to discuss the issues. Within ten (10) working days of said meeting, the department head shall respond in writing to the employee. The decision of the Department Head shall be final and not subject to the grievance procedure. An employee may submit a written response to his/her evaluation that shall be placed in his/her personnel file.

  • Annual Performance Evaluation On either a fiscal year or calendar year basis, (consistently applied from year to year), the Bank shall conduct an annual evaluation of Executive’s performance. The annual performance evaluation proceedings shall be included in the minutes of the Board meeting that next follows such annual performance review.

  • Performance Evaluation The Department may conduct a performance evaluation of Contractor’s Services, including Contractor’s Subcontractors. Results of any evaluation may be made available to Contractor upon request.

  • CONTRACTOR PERFORMANCE AUDIT The Contractor shall allow the Authorized User to assess Contractor’s performance by providing any materials requested in the Authorized User Agreement (e.g., page load times, response times, uptime, and fail over time). The Authorized User may perform this Contractor performance audit with a third party at its discretion, at the Authorized User’s expense. The Contractor shall perform an independent audit of its Data Centers, at least annually, at Contractor expense. The Contractor will provide a data owner facing audit report upon request by the Authorized User. The Contractor shall identify any confidential, trade secret, or proprietary information in accordance with Appendix B, Section 9(a), Confidential/Trade Secret Materials.

  • Historical Performance Information To the extent agreed upon by the parties, the Sub-Advisor will provide the Trust with historical performance information on similarly managed investment companies or for other accounts to be included in the Prospectus or for any other uses permitted by applicable law.