Additional Collateral Servicer definition

Additional Collateral Servicer. Either (i) MLCC or (ii) Cendant, if MLCC's obligations to administer the Additional Collateral as provided in the Loan Purchase and Sale Exhibit have been terminated with respect to the Additional Collateral Mortgage Loans sold under the Purchase and Servicing Agreement.
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Additional Collateral Servicer. Either, (i) MLCC or Cendant, as applicable, pursuant to the terms of the Additional Collateral Servicing Agreement, or (ii) the Master Servicer, pursuant to Section 3.01 of this Agreement.
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Additional Collateral Servicer means the entity responsible for administering and servicing the Additional Collateral with respect to a Additional Collateral Mortgage Loan.
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Examples of Additional Collateral Servicer in a sentence

  • With respect to any Additional Collateral Mortgage Loan, the Additional Collateral Servicer shall cause to be filed in the appropriate recording office a Form UCC-3 giving notice of the assignment of the related security interest to the Trust Fund and shall thereafter cause the timely filing of all necessary continuation statements with regard to such financing statements.

  • The Purchaser shall execute such notice if requested by the Additional Collateral Servicer.

  • If a Required Surety Payment is payable pursuant to the Limited Purpose Surety Bond with respect to any Additional Collateral Mortgage Loans, as determined by the Master Servicer and the Additional Collateral Servicer, the Master Servicer shall so notify the Trustee as soon as reasonably practicable and the Trustee shall promptly complete the notice in the form of Attachment 1 to the Limited Purpose Surety Bond and shall promptly submit such notice to the surety as a claim for a Required Surety Payment.

  • The Additional Collateral Servicer may, without the consent of the Purchaser, amend or modify a Mortgage 100 Pledge Agreement or a Parent Power Agreement in any non-material respect to reflect administrative or account changes, provided that the same are consistent with the Underwriting Guide.

  • The Additional Collateral Servicer shall promptly complete the notice in the form of Attachment 1 to the Surety Bond and shall promptly submit such notice to the Surety Bond Issuer as a claim for a required surety.

  • For purposes of this definition, the Parent Power(R) Guaranty Agreement For Real Estate shall not include the rights of the mortgagee under the Equity Access(R) Agreement referred to therein and under the Equity Access(R) Mortgage, which rights have been retained by the Additional Collateral Servicer.

  • If the Additional Collateral Servicer informs the Trustee that a Required Surety Payment is payable pursuant to the Surety Bond, with respect to any Additional Collateral Mortgage Loan, the Trustee shall promptly complete the notice in the form of Attachment 1 to the Surety Bond and shall return such notice to the Additional Collateral Servicer for submission to the Surety Bond Issuer.

  • The Trustee hereby agrees to cooperate with the Additional Collateral Servicer in taking all necessary action to realize on the Surety Bond, including, without limitation, executing any documents or notices prepared by the Additional Collateral Servicer, necessary to collect any Required Surety Payment.

  • If either the Trust Administrator or the Trustee receives an indemnification payment from an Additional Collateral Servicer under Section 4 of the Additional Collateral Servicing Agreement that is attributable to losses resulting from such Servicer’s failure to administer the Additional Collateral in accordance with the terms of the Additional Collateral Servicing Agreement in connection with Additional Collateral Mortgage Loans, such amounts shall be remitted to the Master Servicer.

  • The Trust Administrator, as assignee of the Additional Collateral Servicing Agreement, shall enforce the obligations of the Additional Collateral Servicer to service and administer the Additional Collateral as provided in the Additional Collateral Servicing Agreement, and shall take appropriate action thereunder if the Additional Collateral Servicer fails to substantially comply with its obligations to administer the Additional Collateral.


More Definitions of Additional Collateral Servicer

Additional Collateral Servicer. Either (i) MLCC or (ii) Cendant, as applicable under and conditions of this Agreement.
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Additional Collateral Servicer. Either, (i) _________ or __________, as applicable, pursuant to the terms of the Additional Collateral Servicing Agreement, or (ii) the Master Servicer, pursuant to Section 3.01 of this Agreement.
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Related to Additional Collateral Servicer

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Original Collateral Sale Date means 8 December 2020.