Celink definition
Examples of Celink in a sentence
Nothing in this Agreement shall preclude Celink, in its individual capacity, from entering into other loan subservicing agreements.
If the RMF does not elect to manage and operate the REO Property, Celink shall manage, conserve, protect and operate each REO Property for the RMF solely for the purpose of its prompt disposition and sale.
During the process of preparing an assignment of a HECM Loan to HUD, Celink will take all reasonable measures to correct any deficiencies or errors, if any exist, that occurred at the time of the Loan origination process, or any other errors not caused by Celink.
Celink shall promptly, but in no event later than five (5) Business Days after acquiring knowledge thereof, notify a senior officer or other designated employee of RMF or an affiliate thereof in writing of any and all litigation and claims made or threatened against RMF or Celink in connection with Loans serviced pursuant to this Agreement of which Celink becomes aware, including those relating to the foreclosure of prior liens on Properties.
Representations, Warranties and Covenants of Celink 7 Section 2.03.
In each case, such access (1) shall be afforded upon reasonable request and during normal business hours, and (ii) shall not interfere with the normal business operations of Celink.
Celink agrees that the obligations contained in this Article VIII are reasonable, do not impose an undue hardship on Celink or its affiliates, and are no greater than necessary to protect legitimate interests of (i) RMF and its affiliates and (ii) the Business of RMF and its affiliates.
Not later than end of business (Eastern time) on Celink’s Determination Date following each Due Period, Celink shall submit to RMF, with respect to all Loans serviced hereunder during such Due Period, reports in a form mutually agreed upon by RMF and Celink and as required by the Applicable Requirements.
The Trustee shall not be deemed to owe any fiduciary duty to the Senior Creditors and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of Contingent Convertible Securities of the series or to the Company or to any other Person cash, property or securities to which any Senior Creditors shall be entitled by virtue of this Article or otherwise.
If Celink is responsible for any delays in the assignment process thereby causing a shortage in HUD’s reimbursement, Celink shall reimburse RMF for any shortages.