Third-party servicing Sample Clauses
Third-party servicing. (a) Third-party servicing fee. As compensation for its activities under its third-party servicing agreements, each third-party servicer will be entitled to a third-party servicing fee for each third-party mortgage loan as to which a monthly installment of principal and interest is received equal to the monthly third-party servicing fee rate for the mortgage loan multiplied by the scheduled principal balance on which the installment of interest accrued. (The third-party servicer’s compensation may be reduced by any master servicing fee on such third-party mortgage loan, as described in the following paragraph (b).)
(b) Master servicing fee. CitiMortgage will be entitled to any master servicing fee that CitiMortgage and the third-party servicer may agree upon in the third-party servicing agreement, provided that the master servicing fee rate · for a specially serviced mortgage loan may not exceed 0.25% per annum, and · for a third-party mortgage loan other than a specially serviced mortgage loan may not exceed the per annum rate specified as the third-party servicing fee rate on schedule B-TP to exhibit B under the heading “Sub Fee.” CitiMortgage may also be entitled to additional master servicing compensation not based on the master servicing fee rate, as agreed with the third-party servicer, such as any net REO proceeds in excess of the outstanding principal balance and accrued interest on a mortgage loan.
Third-party servicing. Subject to approval by the applicable Fund's Board of Directors/Trustees, BFS may enter into agreements with third parties for the performance of one or more of its obligations under this Agreement (and such other services as BFS may desire) for all or any portion of the shareholders of the Fund who maintain shareholder accounts through, or who are otherwise provided services by, any such third parties. To the extent that such third parties perform services that BFS is obligated to perform under this Agreement, BFS shall be entitled to receive the fees to which it would otherwise be entitled hereunder had it performed such services directly; provided, however, that the Fund's Board of Directors/Trustees may limit amounts receivable by BFS under this Agreement for services performed on its behalf by third parties. BFS will furnish the Fund shareholder and account records and data upon which the Fund's obligations under this Agreement are calculated, and such other data pertaining to any services rendered by third parties as the Fund may reasonably require. The Fund shall be entitled to have any and all such records audited by the Fund's independent accountants at any time upon reasonable notice to BFS. III.
Third-party servicing. If the Mortgage Loans are serviced by a third party servicer (such third party servicer, the “Servicer”), Seller (i) shall provide a copy of the servicing agreement to Purchaser, which shall be in form and substance acceptable to Purchaser (the “Servicing Agreement”); (ii) shall provide a Servicer Notice to the Servicer substantially in the form of Exhibit W hereto; and (iii) hereby irrevocably assigns to Purchaser and Purchaser’s successors and assigns all right, title, interest of Seller in, to and under, and the benefits of, any Servicing Agreement with respect to the Mortgage Loans. Any successor to the Servicer shall be approved in writing by Purchaser prior to such successor’s assumption of servicing obligations with respect to the Mortgage Loans.
Third-party servicing. Local Provider may procure the services of any responsible third party to perform all or part of the Services. Any third-party providing Services will comply with the security standards and procedures required of Local Provider by Referring Provider, and will accept in writing the fiduciary responsibility prior to providing the Services. Local Provider will record all custody transfers and/or the use of any subcontractor to render Services to the Referring Provider, and make Referring Provider aware of any use of any third-party, including their identity.
Third-party servicing. With CitiMortgage’s approval, a third-party servicer may delegate its servicing obligations, but the third-party servicer will remain obligated under its third-party servicing agreement. CitiMortgage and any third-party servicer may amend the third-party servicing agreement, consistent with this agreement. CitiMortgage will enforce each third-party servicer’s obligations under its third-party servicing agreement, including any obligation to make advances for delinquent payments or to purchase a mortgage loan on account of defective documentation or a breach of a representation or warranty. Such enforcement, including the legal prosecution of claims, termination of third-party servicing agreements, and the pursuit of other appropriate remedies, will as to form, extent and timing be conducted as CitiMortgage, in its good faith business judgment, would require if it were the owner of the mortgage loans. CitiMortgage will pay the costs of enforcement at its own expense, but will be reimbursed only from · a general recovery resulting from the enforcement only to the extent that the recovery exceeds all amounts due on the mortgage loans, or · a specific recovery of costs, expenses or attorneys fees against the party against whom the enforcement is directed.
Third-party servicing. (a) Third-party servicing fee. As compensation for its activities under its third-party servicing agreements, each third-party servicer will be entitled to a third-party servicing fee for each third-party mortgage loan as to which a monthly installment of principal and interest is received equal to the monthly third-party servicing fee rate for the mortgage loan multiplied by the scheduled principal balance on which the installment of interest accrued. (The third-party servicer’s compensation may be reduced by any master servicing fee on such third-party mortgage loan, as described in the following paragraph (b).)
Third-party servicing. NewTek may provide the services through third parties at its discretion.