Customary Practices shall, with respect to the servicing and administration of any Pledged Loans, have the meaning assigned to that term in the Purchase Agreement under which such Loan was transferred from the Seller to the Depositor.
Customary Practices means the Master Servicer’s practices with respect to the servicing and administration of Loans as in effect from time to time, which practices shall be consistent with the practices employed by prudent lending institutions that originate and service instruments similar to the Loans or other timeshare loans in the jurisdictions in which the Resorts are located.
Customary Practices. The customary practices used by the Manager, as the same may change from time to time. “Default Fee”: For any Payment Date on which interest on overdue amounts is payable in accordance with the provisions of Section 301(i) hereof, the amount of interest payable on such Payment Date pursuant to the provisions of Section 301(i). “Default Rate”: For any date of determination, an interest rate per annum equal to the sum of (i) the interest rate then otherwise in effect, plus (ii) two percent (2%). “Defaulting Lender” Any Lender that (a) has failed to fund any portion of any Loans required to be funded by it hereunder within two Business Days of the date required to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it under the Transaction Documents within two Business Days of the date when due, unless the subject of a good faith dispute, (c) has notified the Borrower (or any of its Affiliates) or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect, (d) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (d) upon receipt of such written confirmation by the Administrative Agent and the Borrower), (e) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Insolvency Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (f) is the subject of a Bail-In-Action; provided that (i) a Delaying Lender shall not be classified as a Defaulting Lender prior to the Delaying Funding Date and (ii) a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or ...
Examples of Customary Practices in a sentence
The Servicer will comply in all material respects with the Credit Standards and Collection Policies and Customary Practices with respect to each Pledged Loan.
In managing, administering, servicing and making collections on the Pledged Loans pursuant to this Indenture, the Servicer will exercise that degree of skill and care consistent with Customary Practices and the Credit Standards and Collection Policies.
The Issuer shall comply in all material respects with the Credit Standards and Collection Policies and Customary Practices in regard to each Pledged Loan and the related Pledged Assets.
More Definitions of Customary Practices
Customary Practices means Flowers' or any of the Selling Subsidiaries' normal and customary practices with respect to the approval, servicing and administration of the Loans, as in effect from time to time, which practices shall be consistent with the standard approval, servicing and administration policies employed by Flowers with respect to all Loans held by it in its own portfolio as of the Closing Date, including without limitation, the policies and procedures set forth in the Policies and Procedures Manual delivered to the Bank on the Closing Date.
Customary Practices means the Servicer's practices with respect to -------------------- the servicing and administration of Contracts as in effect from time to time, which practices shall be consistent with the practices employed by prudent lending institutions which originate and service instruments similar to the Contracts or other timeshare loans in the jurisdictions in which the Developments are located, so long as such practices are in the best interests of the Noteholders. In no event shall Customary Practices include any deferral of Payments due under any Pledged Contract except for Permitted Deferrals.
Customary Practices means the customary practices, policies and procedures of BRT and its Affiliates used in the ordinary course of their business in evaluating, managing, servicing and originating Loans with such changes to such customary practices, policies and procedures as may be agreed from time to time between the Members to account for different practices, policies and procedures that may be required by the Members.
Customary Practices. The customary practices used by the Manager, as the same may change from time to time. Definitive Note: A Note issued in definitive form pursuant to the terms and conditions of the Indenture. Deposit Accounts: Any deposit accounts, as such term is defined in the UCC. Depositary or DTC: The Depository Trust Company until a successor depositary shall have become such pursuant to the applicable provisions of the Indenture and thereafter “Depositary” shall mean or include each Person who is then a Depositary thereunder. For purposes of the Indenture, unless otherwise specified pursuant to the Indenture, any successor Depositary