Backup Servicer Agreement definition

Backup Servicer Agreement means any backup servicing agreement among Purchaser, Seller and a backup servicer appointed pursuant to Section 16(d), as the same may be amended, modified or supplemented from time to time.
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Backup Servicer Agreement means the Backup Servicing Agreement, dated as of May 7, 2020, by and among the Backup Servicer, the Borrower, and the Administrative Agent. “Backup Servicer Fee Letter”means the U.S. Bank National Association fee letter, dated as of April 7, 2020 and executed as of April 29, 2020, setting forth the fees payable by the Borrower to the Backup Servicer in connection with the transactions contemplated by this Agreement. “Backup Servicer Termination Notice” means notice of termination of the Backup Servicer from the Administrative Agent to the Backup Servicer pursuant to the Backup Servicer Agreement. “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. “Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. “Bankruptcy Code” means Chapter 11 of Title 11 of the United States Code (11 U.S.C. 101 et seq.). “Base Rate”means, for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate in effect on such day plus ½ of 1%, (b) the Prime Rate in effect on such day, (c) the Adjusted LIBO Rate on such day plus 1.00%, and (d) zero percent (0.0%). Any change in the Base Rate due to a change in the Federal Funds Rate, the Prime Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Federal Funds Rate, the Prime Rate or the Adjusted LIBO Rate, respectively. When used in reference to any Loan or Advance, “Base Rate” shall refer to a Loan, or the Loans comprising such Advance, bearing interest at a rate determined by reference to the Base Rate. “Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation. “Beneficial Ownership Regulation”has the meaning set forth in Section 8. “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party. “Blocked Account”has the meaning set forth in Section 6.11. “Blocked Account Agreement” means that certain Deposit Account Control Agreement dated as of even date herewiththe Closing Date between Borrower and Admini...
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Backup Servicer Agreement means (a) that certain Backup and Successor Services Agreement, dated as of March 19, 2021, as amended on July 12, 2022 and as further amended on the date hereof, among the Borrower, ESE, the Backup Servicer and the Administrative Agent, and (b) any replacement thereof, in each case in a form and substance acceptable to the Administrative Agent. “Bail-In Action” shall mean the exercise of any Write-down and Conversion Powers by the applicable Resolution Authority in respect of any liability of any Affected Financial Institution. “Bail-In Legislation” shall mean (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule, or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended, from time to time) and any other law, regulation, or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). “Bankruptcy Code” shall mean Title 11 of the United States Code, as amended from time to time, and all rules and regulations promulgated thereunder. “Base Case Model” shall mean the comprehensive long-term financial model as updated from the initial Base Case Model delivered on the Effectiveness Date and attached as Exhibit F to this Agreement, reflecting among other things (a) quarterly payment periods ending on each Payment Date and (b) the projected Cash Available for Debt Service from the Eligible Projects, PBI Payments and the Eligible REC Contracts, and Operating Expenses from all other
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Examples of Backup Servicer Agreement in a sentence

  • HML (a wholly-owned subsidiary of Skipton Building Society, which is itself regulated by the FCA) has been appointed as the Back-up Servicer pursuant to the Back-up Servicer Agreement and pursuant to which HML is responsible for the provision of certain mortgage settlement and related administration services.

  • This Amendment extended the deadline to receive approval from a third party to enter into a Backup Servicer Agreement.

  • Upon any resignation of the Backup Servicer pursuant to the Backup Servicing Agreement, a successor Backup Servicer will be appointed in accordance with the terms of the Backup Servicer Agreement.

  • The Borrower acknowledges and consents to the Administrative Agent’s right (but not obligation) to give any notices, directions and instructions, and to cure defaults of any Relevant Party and Provider under any Backup Servicer Agreement.

  • The Backup Servicer shall only be responsible to perform those duties specifically imposed upon it as Backup Servicer by the provisions hereof and in the Backup Servicer Agreement.

  • The role of Backup Servicer with respect to the SBA 7(a) Note Receivable Collateral shall be conducted by the Person designated as Backup Servicer under the Backup Servicer Agreement from time to time in accordance therewith.

  • The Servicer shall use its best efforts to provide all information necessary for the Backup Servicer to implement the Backup Servicer Agreement.


More Definitions of Backup Servicer Agreement

Backup Servicer Agreement means the letter agreement dated June 28, 2000 among Fairbanks Capital Corp., the Originator, and the Certificate Insurer, and any agreement hereafter entered into among the Originator, the Certificate Insurer and a successor Backup Servicer.
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Backup Servicer Agreement means the letter agreement dated June 28, 2000 among FSA, the Servicer, the Trustee and Fairbanks Capital Corp.
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Backup Servicer Agreement set forth in (S)1 of the Credit Agreement is deleted in its entirety.
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Backup Servicer Agreement. The agreement between the Servicer and the Backup Servicer pursuant to Section 7.08.
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Related to Backup Servicer Agreement

  • Backup Servicing Agreement means the Backup Servicing Agreement dated as of the Closing Date, among the Backup Servicer, Credit Acceptance, the Seller, the Issuer and the Trust Collateral Agent.

  • Backup Servicer Fee means the fee to be paid to the Backup Servicer as set forth in the Backup Servicing Agreement.

  • Backup Servicer means Wxxxx Fargo Bank, National Association, in its capacity as Backup Servicer under this Agreement.

  • Backup Servicing Fee means, as to each Distribution Date, $4,000; provided, however, that if the Backup Servicer becomes the successor Servicer, such fee shall no longer be paid.

  • Back-Up Servicing Agreement means that certain Back-Up Servicing Agreement to be entered into by and among the Company, the Administrative Agent and the Back-Up Servicer, as such agreement may be amended, restated, supplemented or otherwise modified from time to time.

  • Sub-Servicing Agreement The written contract between the Servicer and a Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Servicer Affiliate A Person (i) controlling, controlled by or under common control with the Servicer or which is 50% or more owned by the Servicer and (ii) which is qualified to service residential mortgage loans.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Subservicing Agreement The written contract between the Master Servicer and any Subservicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02, generally in the form of the servicer contract referred to or contained in the Program Guide or in such other form as has been approved by the Master Servicer and the Depositor.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Primary Servicing Agreement means, with respect to each Primary Servicer, the agreement between such Primary Servicer and the Master Servicer, dated as of August 1, 2004, under which such Primary Servicer services the Mortgage Loans and, if applicable, the Serviced Companion Loan set forth on the schedule attached thereto.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • Securitization Servicing Agreement means the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement.

  • CMSA Special Servicer Loan File The data file in the "CMSA Special Servicer Loan File" format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CMSA for commercial mortgage securities transactions generally and, insofar as it requires the presentation of information in addition to that called for by the form of the "CMSA Special Servicer Loan File" available as of the Closing Date on the CMSA website, is reasonably acceptable to the Special Servicer.

  • Basic Servicing Agreement means the Amended and Restated Servicing Agreement, dated as of March 1, 2009, among MBFS USA, as lender and as servicer, Daimler Trust, as titling trust, and Daimler Title Co., as collateral agent.

  • Asset Representations Review Agreement means the Asset Representations Review Agreement, dated as of the date hereof, between the Issuer, the Sponsor, the Servicer and the Asset Representations Reviewer.

  • Back-Up Servicer means, initially, Xxxxx Fargo Bank, National Association, and at any other time, the Person then acting as “Back-up Servicer” pursuant to and in accordance with the Back-up Servicing Agreement.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Servicing Arrangement is defined in Section 11.06(b).

  • FTPS Unit Servicing Agent means FTP Services LLC or any successor FTPS Unit servicing agent appointed as hereinafter provided."

  • Servicing Agreements Each of the Servicing Agreements executed with respect to a portion of the Mortgage Loans by one of the Servicers, which agreements are attached hereto, collectively, as Exhibit L.

  • Non-Lead Servicing Agreement means the pooling and servicing agreement, trust and servicing agreement or other similar agreement to be entered into in connection with a Non-Lead Securitization Note.