Services LOI definition
Services LOI means that certain Letter of Intent between Altisource and New Residential Investment Corp. and dated as of the date hereof relating to the services Altisource and its Affiliates shall agree to provide to New Residential with respect to the Covered Portfolios (as defined in such Letter of Intent).
Services LOI means that certain Letter of Intent between Altisource and New Residential Investment Corp. and dated as of the date hereof relating to the services Altisource and its Affiliates shall agree to provide to New Residential with respect to the Covered Portfolios (as defined in such Letter of Intent). (hhh) “Servicing Agreement” means any servicing agreement, pooling and servicing agreement, trust and servicing agreement, indenture, trust agreement or similar agreement, in each case to which New Residential is a party (including though assignment and/or assumption) as the servicer (including master, special, primary or subservicer) thereunder or to which New Residential is bound as of the related Acquisition Date; provided, however, such term does not include any such agreement between NRZ and an affiliated or unaffiliated third party, pursuant to which NRZ further delegates servicing functions to such third party. (iii) “Standard Seller Commission Percentage” means the greater of [***] percent ([***]) of the Net Sales Price and the minimum commission payable to all real estate brokers representing the seller as specified in the listing agreements referenced in Section 3(a) hereof. (jjj) “Subject REO Referral” has the meaning set forth in Section 3 hereto. (kkk) “Suspended REO Referral” has the meaning set forth in Section 19(d) hereto. (lll) “Termination Event” has the meaning set forth in Section 19(a) hereto. -8- (mmm) “Terminating Party” has the meaning set forth in Section 19(a) hereto. (nnn) “Third Party Claim” has the meaning set forth in Section 15 hereto. (ooo) “Total Seller Payable Commission” means, with respect to a sale of a Subject REO Referral, the total real estate broker’s commission payable to all real estate brokers representing the seller of such Subject REO Referral. (ppp) “Transfer” has the meaning set forth in Section 10(b) hereto. (qqq) “Vendor Management Addendum” means the document attached as Exhibit 5 hereto.
Services LOI means that certain Letter of Intent between Altisource and New Residential and dated as of the date hereof relating to the services Altisource and its affiliates shall agree to provide to New Residential with respect to the Covered Portfolios (as defined in such Letter of Intent).
Examples of Services LOI in a sentence
In addition to the Termination Events set forth in Section 19 hereof, RHSS shall have the right to terminate this Agreement by written notice to NRZ Brokerage, if New Residential and Altisource fail to enter into that certain services agreement contemplated by the Services LOI prior to the expiration or earlier termination of such Services LOI (as extended).