Flood Certification Contract definition

Flood Certification Contract. A fully transferrable life of loan flood certification contract.
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Examples of Flood Certification Contract in a sentence

  • Tax Service Contract The Company has obtained a life of loan, transferable real estate Tax Service Contract on each Mortgage Loan and such contract is assignable without penalty, premium or cost to the Purchaser; Flood Certification Contract.

  • All Mortgage Loans will have and Seller will assign to Purchaser, life-of-loan, fully transferable flood certification contracts from an Approved Flood Certification Contract Provider as of the Servicing Transfer Date.

  • The Seller shall ensure that each of the Mortgage Loans shall be covered by a paid-in-full, life-of-loan tax service contract with a provider acceptable to the Purchaser (each, a "Tax Service Contract") and a paid-in-full, life-of-loan flood certification contract with a provider acceptable to the Purchaser (each, a "Flood Certification Contract"), each of which shall be assigned to the Purchaser or the Purchaser's designee at the Seller's expense.

  • The cost of obtaining the Flood Certification Contract shall be paid by the Owner/Servicer as a Pass-Through Expense.

  • If a Flood Certification Contract with a provider other than CoreLogic or ServiceLink is transferred to the Subservicer, then the Subservicer will transfer such flood certification contract to CoreLogic or ServiceLink and the cost of such transfer shall be paid by the Owner/Servicer as a Pass-Through Expense.

Related to Flood Certification Contract

  • Flood Certificate means a “Standard Flood Hazard Determination Form” of the Federal Emergency Management Agency and any successor Governmental Authority performing a similar function.

  • Medicaid Certification means certification by CMS or a state agency or entity under contract with CMS that health care operations are in compliance with all the conditions of participation set forth in the Medicaid Regulations.

  • Flood Documentation means, with respect to each Mortgaged Property located in the United States of America or any territory thereof, (i) a completed “life-of-loan” Federal Emergency Management Agency standard flood hazard determination (to the extent a Mortgaged Property is located in a Special Flood Hazard Area, together with a notice about Special Flood Hazard Area status and flood disaster assistance duly executed by the Borrower and the applicable Loan Party relating thereto) and (ii) a copy of, or a certificate as to coverage under, and a declaration page relating to, the insurance policies required by Section 5.02(c) hereof and the applicable provisions of the Security Documents, each of which shall (A) be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgagee endorsement (as applicable), (B) name the Collateral Agent, on behalf of the Secured Parties, as additional insured and loss payee/mortgagee, (C) identify the address of each property located in a Special Flood Hazard Area, the applicable flood zone designation and the flood insurance coverage and deductible relating thereto and (D) be otherwise in form and substance reasonably satisfactory to the Collateral Agent.

  • Back-Up Certification As defined in Section 6.20(e)(iv).

  • Regulatory Flood Protection Elevation means the “Base Flood Elevation” plus the “Freeboard”. In “Special Flood Hazard Areas” where Base Flood Elevations (BFEs) have been determined, this elevation shall be the BFE plus two (2) feet of freeboard. In “Special Flood Hazard Areas” where no BFE has been established, this elevation shall be at least two (2) feet above the highest adjacent grade.