Existing Servicer definition
Examples of Existing Servicer in a sentence
The Initial Member also shall be responsible for paying any fee owing to an Existing Servicer in connection with the termination of any servicing agreement with such Existing Servicer.
Amounts or balances related to the Loans on deposit in Escrow Accounts held or controlled by the Initial Member or an Existing Servicer shall be transferred to the Company on the respective Servicing Transfer Date.
In addition, the Initial Member shall be paid or reimbursed on the Servicing Transfer Date for Servicing Expenses or Pre-Approved Charges that an Existing Servicer pays after the Closing Date through the Servicing Transfer Date out of its own funds (rather than withdrawing such funds from the Collection Account or the Working Capital Reserve or otherwise using Loan Proceeds to pay for the respective Servicing Expenses or Pre- Approved Charges).
Without limitation of, and subject to, the other provisions of this Agreement (including Sections 2.3(b), and 3.3(e), and the last sentence of Section 3.3(d)) the Transferor also will be responsible for paying any fee owing to an Existing Servicer in connection with the termination of any servicing agreement with such Existing Servicer.
Amounts or balances related to the Loans on deposit in Escrow Accounts held or controlled by the Transferor or an Existing Servicer will be transferred to the Company on the respective Servicing Transfer Date.
Without limitation of, and subject to, the other provisions of this Agreement (including Sections 2.3(b), and 3.3(e), and the last sentence of Section 3.3(d)) the Transferor also shall be responsible for paying any fee owing to an Existing Servicer in connection with the termination of any servicing agreement with such Existing Servicer.
As soon as practicable after receipt by an Indemnified Party of notice of any claim or the commencement of any action by any third party, the Indemnified Party shall, if a claim in respect thereof is to be made by it under this Article VIII, notify the Indemnifying Party in writing of the claim or the commencement of that action.
In addition, the Initial Member shall be paid or reimbursed on the Servicing Transfer Date for Servicing Expenses or Pre-Approved Charges that an Existing Servicer pays after the Closing Date through the Servicing Transfer Date out of its own funds (rather than withdrawing such funds from the Collection Account or the Liquidity Account or otherwise using Mortgage Loan Proceeds to pay for the respective Servicing Expenses or Pre-Approved Charges).
To the extent that this Agreement confers directly any rights, remedies or other benefits upon any Holder or the Transferor (or any Existing Servicer), this Agreement (subject to Sections 19.1 and 19.2 as if such Holder or the Transferor, respectively, was a party to this Agreement, and in any event to Section 19.4 of this Agreement) also will inure to the benefit of, and may be enforced by, such Holder or the Transferor, respectively.
Kenwood Title: Vice President and Treasurer ▇▇▇▇ DAIRY HOLDINGS, LLC, as an Existing Servicer SUIZA DAIRY GROUP, LLC, as an Existing Servicer By: /s/ ▇▇▇▇▇ ▇.