Litton definition
Examples of Litton in a sentence
The Trust was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, Credit-Based Asset Servicing and Securitization LLC, as Seller (the "Seller"), Litton Loan Servicing LP, as Servi▇▇▇ (▇he "Servicer"), and U.S. Bank National Association, as Trustee (the "Trustee").
The Purchaser hereby acknowledges that the Seller shall assign its obligation to service the Mortgage Loans for the benefit of the Purchaser to its interim subservicer, which, on the date of this Agreement, is either Option One Mortgage Corporation or Litton Loan Servicing, LP.
The Trust was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, Credit-Based Asset Servicing and Securitization LLC, as Seller (the "Seller"), Litton Loan Servicing LP, as Servicer (the "Servicer"), and JPMorga▇ ▇▇▇▇e Bank, as Trustee (the "Trustee").
The Trust was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, Credit-Based Asset Servicing and Securitization LLC, as Seller (the "Seller"), Litton Loan Servicing LP, as Servicer (the "Servicer"), and JPMorgan ▇▇▇▇▇ Bank, as Trustee (the "Trustee").
In connection with any such termination of the Trust Fund, Avelo and Litton, as applicable, shall cause all funds in the Collection Account, ▇▇▇▇▇ding the applicable Termination Price for the Mortgage Loans and REO Properties to be remitted to the Master Servicer for deposit in the Distribution Account on the Business Day prior to the applicable Distribution Date.
Notwithstanding anything to the contrary above, Litton shall continue to perform all of the obligations of Servicer her▇▇▇▇▇▇ until the Master Servicer appoints a successor Servicer.
In circumstances where Litton determines that it would be uneconomical to foreclose on the rel▇▇▇▇ ▇ortgaged Property, Litton may write off the entire outstanding principal balance of the re▇▇▇▇▇ Second Lien Mortgage Loan as bad debt.
Accordingly, the sale of the Mortgage Loans and the REO Properties as a result of the exercise by Avelo, Litton or the Auction Call will result in the final distribution ▇▇ ▇he ▇▇▇▇▇ficates on that Distribution Date.
Upon such final deposit with respect to the Trust Fund and the receipt by the applicable Custodian of a Request for Release therefor, the applicable Custodian, shall promptly release to Avelo and Litton, as applicable, or its designee, the Custodial Files for the Mor▇▇▇▇▇ Loans.
If Avelo or Litton, as applicable, elects to terminate the Trust Fund pursuant to c▇▇▇▇▇ (a) of Section 11.01, by the 25th day of the month preceding the month of the final distribution, Avelo or Litton, as applicable, shall notify the Depositor, the Master Servicer, ▇▇▇ ▇ecurities Administrator and the Trustee in writing of the date Litton or Avelo, as applicable, intends to terminate the Trust Fund and ▇▇ ▇▇e applicable Termination Price of the Mortgage Loans and REO Properties.