Pledged Servicing Rights definition

Pledged Servicing Rights means any Eligible Servicing Rights with respect to which a security interest has been granted to the Lender pursuant to this Agreement (it being understood that, only Servicing Rights identified by pool number in the Electronic Files will be pledged) and with respect to which such security interest has not been released.

Pledged Servicing Rights means any Eligible Servicing Rights with respect to which the Lender’s security interest has not been released by Xxxxxx.

Pledged Servicing Rights has the meaning set forth in Section 4.1(a). For the avoidance of doubt Pledged Servicing Rights does not include any Excess Yield or the Stripped Interest Certificate.

Examples of Pledged Servicing Rights in a sentence

• Prior to Borrower making any withdrawal from the custodial account or any other clearing account maintained under the related Servicing Agreement, Borrower, as applicable shall instruct any subservicer(s) and the related depository institution(s) to remit all collections, payments and proceeds in respect of any Pledged Servicing Receivables or Pledged Servicing Rights into the appropriate Pledged Deposit Account.

• Following the establishment of any Pledged Deposit Account, Pledged Servicing Receivables and Pledged Servicing Rights funds received and retained by Borrower pursuant to the applicable Servicing Agreement shall promptly, and in any event within two (2) Business Days after receipt, be deposited in the appropriate Pledged Deposit Account.

• In the event that a Borrower sells or otherwise disposes of any of the Pledged Servicing Rights, it shall give the Lender ten (10) Business Days’ prior written notice of such sale or disposition (together with a list of the affected loans and other information helpful to the Lender in assessing the related Collateral Value), during which time the Lender shall recalculate the Collateral Value for the Collateral remaining after such sale or disposition.

• Borrower shall not withdraw or direct the withdrawal or remittance of any amounts on account of any Pledged Servicing Receivables or Pledged Servicing Rights income related to any Servicing Agreement from any custodial account into which such amounts have been deposited other than to remit to the appropriate Pledged Deposit Account.

• For the avoidance of doubt, in no event shall any Servicing Rights be included in the Borrowing Base unless the Serviced Loans underlying such Eligible Pledged Servicing Rights are the subject of a then-current and effective Acknowledgement Agreement from the relevant Agency.

More Definitions of Pledged Servicing Rights

Pledged Servicing Rights means all of Borrower’s rights and interests under any Approved Servicing Agreements, including without limitation the rights to (1) service the Serviced Loans that are the subject matter of such Approved Servicing Agreement and (2) be compensated, directly or indirectly, for doing so; together with all Servicing Rights described in any subservicing agreement.

Pledged Servicing Rights has the meaning set forth in Section 4.1(a).

Pledged Servicing Rights means all Servicing Rights under the Pooling Agreements relating to Residual Receivables (whether or not such are Senior Residual Receivables) now or hereafter on deposit in any of the Residual Collateral Trusts.

Pledged Servicing Rights means all of the Borrower’s rights and interests under any Approved Servicing Agreements, including without limitation the rights to (a) service the Serviced Loans that are the subject matter of such Approved Servicing Agreement and (b) be compensated, directly or indirectly, for doing so; together with all Servicing Rights described in any related sub-servicing agreement.

Pledged Servicing Rights has the meaning set forth in the Additional Loan Terms and Covenants Addendum attached hereto as Exhibit A.

Pledged Servicing Rights means that portion of the Servicing Portfolio pledged to the Agent, for the benefits of the Banks, as Collateral.

Pledged Servicing Rights means all of Borrower’s rights and interests under any Approved Servicing Agreements, including without limitation the rights to (a) service the Serviced Loans that are the subject matter of such Approved Servicing Agreement and (b) be compensated, directly or indirectly, for doing so; together with all Servicing Rights described in any subservicing agreement. As to Xxxxxxx Mac, “Pledged Servicing Rights” shall mean the indivisible, conditional, non-delegable right of Borrower to service Mortgage Loans owned or guaranteed by Xxxxxxx Mac pursuant to the Xxxxxxx Mac Single-Family Seller/Servicer Guide, as the same may be amended from time to time, (the “Xxxxxxx Mac Guide”) and the Purchase Documents (as defined in the Xxxxxxx Mac Guide).