CHEC definition
Examples of CHEC in a sentence
This Certificate does not represent a deposit or other obligation of, or an interest in, nor are the underlying Home Equity Loans insured or guaranteed by, CHEC Funding, LLC, ▇▇▇▇▇▇▇ Street Funding II, LLC or Centex Home Equity Company, LLC or any of their Affiliates.
In performing any such review, the Custodian, on behalf of the Trustee may conclusively rely on CHEC as to the purported genuineness of any such document and any signature thereon.
CHEC agrees to use reasonable efforts to remedy a material defect in a document constituting part of a File of which it is so notified by the Custodian, on behalf of the Trustee.
In addition, the Depositor and CHEC covenant and agree to indemnify the Trustee and the Servicer (if the Servicer is also the Trustee) and their officers, directors, agents and employees from, and hold it harmless against, any and all losses, liabilities, damages, claims or expenses (including legal fees and expenses) of whatsoever kind arising out of or in connection with the performance of its duties hereunder other than those resulting from negligence or bad faith.
The Trustee shall, at the written direction of CHEC, also adopt and employ, at the expense of CHEC, any other reasonable means of notification of such payment (including but not limited to mailing notice of such payment to Owners whose right to or interest in moneys due and payable but not claimed is determinable from the records of the Registrar, the Trustee or any Paying Agent, at the last address of record for each such Owner).