Facility Eligible Servicing Agreement definition

Facility Eligible Servicing Agreement. As of any date of determination, any Designated Servicing Agreement which meets the following criteria:
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Facility Eligible Servicing Agreement means, with respect to the Series 2012-VF3 Notes, any Designated Servicing Agreement which, as of any date of determination, meets the following criteria:
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Facility Eligible Servicing Agreement means, with respect to the Series 2014-T2 Notes, any Designated Servicing Agreement which, as of any date of determination, meets the following criteria:
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Examples of Facility Eligible Servicing Agreement in a sentence

  • Each Designated Servicing Agreement, as amended, is in full force and effect and no default (other than such an event resulting solely from the failure of a Collateral Performance Test under the related Servicing Agreement) exists thereunder and, each of the Designated Servicing Agreements is a Facility Eligible Servicing Agreement until the MSR Transfer Date.

  • Each Designated Servicing Agreement, as amended, is in full force and effect and no default (other than such an event resulting solely from the failure of a Collateral Performance Test under the related Servicing Agreement) exists thereunder and, each of the Designated Servicing Agreements is a Facility Eligible Servicing Agreement.

  • Each Receivable is payable in United States dollars and has been created pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement, in accordance with the terms of such Designated Servicing Agreement and with the customary procedures and in the ordinary course of business of HLSS.

  • Each Receivable sold by OLS is payable in United States dollars and has been created pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement, in accordance with the terms of such Designated Servicing Agreement and with the customary procedures and in the ordinary course of business of OLS.

  • The date that the Servicer (prior to the Effective Date) or the Administrator (after the Effective Date) designates a Facility Eligible Servicing Agreement as a Designated Servicing Agreement.

  • Each Receivable is payable in United States dollars, is a Facility Eligible Receivable and is transferred pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement.

  • The date that the Receivables Seller or the Servicer designates a Facility Eligible Servicing Agreement as a Designated Servicing Agreement.

  • Each Receivable is payable in United States dollars, is a Facility Eligible Receivable and is transferred pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement (except those transferred pursuant to any Ineligible Designated Servicing Agreement); provided that notwithstanding the foregoing, Advance Purchaser makes no representation or warranty with respect to Receivables arising under any Ineligible Designated Servicing Agreement.

  • The date the Administrator designates a Facility Eligible Servicing Agreement as a Designated Servicing Agreement.

  • For the avoidance of doubt, the Receivables Seller or the Seller may not designate a Facility Eligible Servicing Agreement as a “Designated Servicing Agreement” without the prior written approval of the Administrative Agent in its sole discretion.


More Definitions of Facility Eligible Servicing Agreement

Facility Eligible Servicing Agreement. With respect to each Series of Notes, a Designated Servicing Agreement satisfying the definition of Facility Eligible Servicing Agreement set forth in the related Indenture Supplement. In addition, for a subservicing agreement to be a Facility Eligible Servicing Agreement, the subservicing agreement and the related servicing or master servicing agreement must provide that: (1) Servicer, as subservicer, under such agreement, is required to make all Advances on Mortgage Loans subserviced by a Servicer; (2) Servicer, as subservicer under such agreement, is entitled to reimbursement from all permitted sources under the Servicing Agreement; (3) the related primary or master servicer agrees to remit to the Servicer, as subservicer, within two (2) Business Days of receipt thereof, any collections and reimbursements of P&I Advances, Corporate Advances and Xxxxxx Advances it receives, without set-off; and (4) the related primary or master servicer agrees to reasonably cooperate with the Servicer, as subservicer, to obtain reimbursement of P&I Advances, Corporate Advances and Xxxxxx Advances including, if either of such primary or master servicer or the Servicer, as subservicer, is terminated, by seeking immediate reimbursement therefor from the successor servicer or, failing that, on a first-in-first-out basis.
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Facility Eligible Servicing Agreement. With respect to each Series of Notes, a Designated Servicing Agreement satisfying the definition of Facility Eligible Servicing Agreement set forth in the related Indenture Supplement. In addition, for a subservicing agreement to be a Facility Eligible Servicing Agreement, the subservicing agreement and the related servicing or master servicing agreement must provide that: (1) Servicer, as subservicer, under such agreement, is required to make all Advances on Mortgage Loans subserviced by a Servicer; (2) Servicer, as subservicer under such agreement, is entitled to reimbursement from all permitted sources under the Servicing Agreement; (3) the related primary or master servicer agrees to remit to the Servicer, as subservicer, within two (2) Business Days of receipt thereof, any collections and reimbursements of P&I Advances, Corporate Advances and Escrow Advances it receives, without set-off; and (4) the related primary or master servicer agrees to reasonably cooperate with the Servicer, as subservicer, to obtain reimbursement of P&I Advances, Corporate Advances and Escrow Advances including, if either of such primary or master servicer or the Servicer, as subservicer, is terminated, by seeking immediate reimbursement therefor from the successor servicer or, failing that, on a first-in-first-out basis. Notwithstanding the foregoing, each of the Servicing Agreements listed on Schedule 9 shall initially not be a Facility Eligible Servicing Agreement, unless (1) copies of the signed Servicing Agreement have been delivered to the Administrative Agent and the Administrative Agent’s counsel shall have completed a review of such Servicing Agreement and all related documents necessary to understand all terms affecting the Servicing Agreement’s eligibility for financing under this Indenture, and all conditions to transfer of the related servicing rights under such Servicing Agreement have been satisfied, (2) the Servicing Agreement meets the criteria set forth in clauses (1) and (2) in the paragraph above, as applicable, (3) OLS (prior to the MSR Transfer Date) or HLSS (on and after the MSR Transfer Date) has been assigned the servicing rights under the Servicing Agreement, and (4) OLS (prior to the MSR Transfer Date) or HLSS (on and after the MSR Transfer Date) has become the servicer under the Servicing Agreement (it being understood that, in respect of this paragraph, any Servicing Agreement deemed “ineligible” as a result of a failure to meet any of the conditi...
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Facility Eligible Servicing Agreement with respect to the Series 2013-T2 Notes means any Designated Servicing Agreement which meets the criteria for a Facility Eligible Servicing Agreement set forth in the Base Indenture except that clause (ii)(B) thereof shall be amended to read as follows in its entirety:
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Facility Eligible Servicing Agreement means, with respect to the Series 2013-T3 Notes, any Designated Servicing Agreement which, as of any date of determination, meets the following criteria:
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Facility Eligible Servicing Agreement under a Servicing Advance Financing Agreement;
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Facility Eligible Servicing Agreement means, any Designated Servicing Agreement which, as of any date of determination, meets the following criteria:
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Related to Facility Eligible Servicing Agreement

  • 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.

  • 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.

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

  • Sale and Servicing Agreement means the Sale and Servicing Agreement, dated as of the Closing Date, between the Seller, the Issuer, the Servicer and the Indenture Trustee, as the same may be amended, modified or supplemented from time to time.

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

  • Primary Servicing Agreement means the agreement between the applicable Primary Servicer and the Master Servicer, under which such applicable Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.

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

  • 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.

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

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

  • 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.

  • 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.

  • Servicing Transfer Date The date on which a Servicing Transfer occurs.

  • Servicing Transfer Event means any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan is required to be transferred to the Special Servicer from the Master Servicer.

  • 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).

  • Other Servicing Agreements The Servicing Agreements other than the WFHM Servicing Agreement.

  • Basic Servicing Agreement has the meaning set forth in the Recitals.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Non-MERS Eligible Mortgage Loan Any Mortgage Loan other than a MERS Eligible Mortgage Loan.

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Eligible Substitute Mortgage Loan With respect to a Mortgage Loan substituted by the Transferor for a Deleted Mortgage Loan, a Mortgage Loan which must, on the date of such substitution, (i) have a Principal Balance, (or, in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate Principal Balance), not in excess of, and not more than 10% less than the Principal Balance of the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (iv) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Section 2.03 hereof; (vi) be the same credit grade category as the Deleted Mortgage Loan; (vii) have the same prepayment penalty term; and (viii) not be a Cooperative Mortgage Loan unless the Deleted Mortgage Loan was a Cooperative Mortgage Loan.