Servicing Relationship Sample Clauses
The SERVICING RELATIONSHIP clause defines the ongoing obligations and interactions between the parties regarding the management or administration of a particular service or asset. Typically, this clause outlines the roles and responsibilities of each party, such as who will provide customer support, handle maintenance, or manage communications related to the serviced item. By clearly delineating these duties, the clause helps prevent misunderstandings and ensures that both parties know what is expected throughout the duration of the relationship, thereby promoting smooth operations and accountability.
Servicing Relationship. For so long as Marathon and its Affiliates offer Mortgage Loans to the Company on an exclusive basis as provided in Section 6.13(c) hereof, but, in any event for a period of not less than three (3) years following the Closing Date, the Company shall, and the Purchaser agrees to cause the Company to, offer to service Mortgage Loans owned or held by Marathon or its Affiliates on the most favorable terms and conditions, including, without limitation, with respect to pricing, services provided and employees dedicated per client, that the Company is offering or extending to its other customers, clients, counterparties or investors (collectively, “Other Customers” and each, an “Other Customer”) at the time that Marathon or its Affiliates offer such Mortgage Loans to the Company. For purposes of clarification, this best execution market pricing shall not apply to any servicing contracts between Marathon (or its Affiliates) and the Company as of the Closing Date, nor shall best execution market pricing be applied retroactively to any future servicing contracts between Marathon and its Affiliates and the Company once pricing has been established on a contract by contract basis. The Parties agree that in comparing terms and conditions with third party customers, the terms and conditions will be considered in the aggregate and will include such factors as the composition of the portfolio and the servicing requirements of the respective servicing agreements.
Servicing Relationship