NRM Transfer Date definition
NRM Transfer Date. For any Designated Servicing Agreement, the date upon which OLS transfers the Servicing Rights Assets for such Designated Servicing Agreement to NRM pursuant to the Transfer Agreement.
Examples of NRM Transfer Date in a sentence
NRM, in its capacity as Servicer, shall be responsible for all Servicer Indemnified Losses arising with respect to any Servicing Agreement on and after the related NRM Transfer Date.
Following the NRM Transfer Date with respect to any Designated Servicing Agreement, NRM shall thereafter (i) be the “Servicer” under such Designated Servicing Agreement, (ii) have the obligation to make the required Advances under such Designated Servicing Agreement, and (iii) have the right to collect the related Receivables in reimbursement of such Advances.