Servicing Loan definition

Servicing Loan and "Foreclosure/Repurchase Loan" shall have the meanings given such terms in the Facility II Agreement) exceeds $20,000,000, the Administrative Agent, after consultation with the Companies, shall make such adjustments to the Tranche A Borrowing Base and the Tranche B Borrowing Base, and shall remove Collateral from the computation of some or all of such Borrowing Bases, as may be necessary to cause the Non- Conforming Collateral Amount to be less than or equal to $20,000,000.
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Servicing Loan means a loan extended by the Companies to a sub- -------------- borrower pursuant to a revolving servicing-secured or servicing-receivables line of credit between the Companies and such sub-borrower, which such loan shall be made pursuant to an underwriting program the terms of which shall be approved by the Administrative Agent, and secured by all the servicing rights or servicing receivables, as the case may be, of such sub-borrower; provided, however, that a -------- ------- loan otherwise meeting the requirements of this definition but which is not made pursuant to the terms of an approved underwriting program may be a Servicing Loan hereunder for the purposes hereof so long as (i) the Collateral Value of ---------- the Tranche E Borrowing Base attributable to such a loan, when added to (A) the Collateral Value of the Tranche E Borrowing Base attributable to all other such loans, (B) the Aggregate Unit Collateral Values of all Eligible A/B Mortgage Loans included in the Tranche A Borrowing Base or the Tranche B Borrowing Base which are of the type described in the last paragraph of the definition of "Eligible A/B Mortgage Loan" (it being understood that for the purpose of this provision, the terms "Eligible A/B Mortgage Loans," "Tranche A Borrowing Base" and "Tranche B Borrowing Base" shall mean both such terms as defined herein and ---- --- such terms as defined in the Facility I Agreement), (C) the Collateral Value of the Tranche F Borrowing Base attributable to Foreclosure/Repurchase Loans of the type described in the proviso to the definition of "Foreclosure/Repurchase Loan", and (D) the Collateral Value of the Tranche D Borrowing Base attributable to Construction Loans of the type described in the second proviso to the definition of "Construction Loan" (or, if any such Construction Loan is nonconforming solely due to the sales price or construction cost of any single- family tract home to be constructed in connection therewith, the sales price or construction cost of such home), does not exceed $20,000,000, and (ii) the Collateral Value of the Tranche E Borrowing Base attributable to such a loan, when added to the Collateral Value of the Tranche E Borrowing Base attributable to all other such loans, does not exceed twenty percent (20%) of the Aggregate Tranche E Credit Limit.
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Servicing Loan means an Origination Loan that is owned by a Person other than a Company or one of its direct or indirect Affiliates.
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Examples of Servicing Loan in a sentence

  • After obtaining such approval, the Servicer shall be responsible for processing such action (if no Special Servicing Loan Event has occurred and is continuing).

  • The Special Servicer shall inspect or cause to be inspected the Property as soon as practicable following the occurrence of a Special Servicing Loan Event and annually for so long as a Special Servicing Loan Event is continuing.

  • The Special Servicer shall inspect or cause to be inspected the Property as soon as practicable following the occurrence of a related Special Servicing Loan Event and annually for so long as a Specially Serviced Loan Event is continuing.

  • If a Special Servicing Loan Event is terminated following resolution of such Special Servicing Loan Event by a written agreement with the Borrower negotiated by the Special Servicer, the Special Servicer shall be entitled to receive the Work-out Fee on all payments of principal and interest (other than Default Interest) made on the Mortgage Loan following such written agreement for so long as another Special Servicing Loan Event does not occur.

  • If a Special Servicing Loan Event is terminated following resolution of such Special Servicing Loan Event by a written agreement with the Borrower negotiated by the Special Servicer, the Special Servicer shall be entitled to receive the Work-out Fee on all payments of principal and interest made on the Whole Loan following such written agreement for so long as another Special Servicing Loan Event does not occur with respect to the Whole Loan.

  • The Servicer shall use its reasonable efforts to comply with the preceding sentence within five Business Days of the date that a Special Servicing Loan Event has occurred.

  • The Servicer in any event shall continue to act as Servicer and administrator of the Whole Loan until the Special Servicer has commenced the servicing of the Whole Loan, upon the occurrence and during the continuation of a Special Servicing Loan Event, which shall occur, in the case of a Special Servicing Loan Event, upon the receipt by the Special Servicer of the information, documents and records referred to in the preceding sentence.

  • The Special Servicer shall promptly notify in writing the Servicer, the Trustee, the Certificate Administrator, the Companion Loan Holders, the Risk Retention Consultation Party and the Directing Holder (during any Subordinate Control Period or Subordinate Consultation Period) of the occurrence of such Special Servicing Loan Event.

  • The Servicer shall inspect or cause to be inspected the Property not less frequently than once each year commencing in 2021, so long as a Special Servicing Loan Event is not then continuing.

  • The Special Servicer shall inspect or cause to be inspected the Property as applicable and as soon as practicable following the occurrence of a Special Servicing Loan Event and annually for so long as a Specially Serviced Loan Event is continuing.