Servicing Principles definition

Servicing Principles means the principles applied in the ordinary course of business by the relevant Eligible Booking Entity in servicing loans of the same type and with the same characteristics as the Eligible Obligations and which are in all material respects as determined by the Buyer acting reasonably:
Sample 1Sample 2
Servicing Principles means the Issuer's credit and collection policy and servicing principles in force from time to time or equivalent credit and collection policies and servicing principles and which would at all times be acceptable to a reasonable and prudent lender acting in its own interest at the circumstances prevailing at the relevant time.
Sample 1Sample 2
Servicing Principles means the principles applied in the ordinary course of business by the relevant Eligible Booking Entity in servicing Eligible Obligations and which are in all material respects as determined by the Buyer acting reasonably:
Sample 1Sample 2

Examples of Servicing Principles in a sentence

  • Servicing The administration, collection and enforcement of each Reference Obligation including the enforcement of any related Reference Collateral, shall be carried out in accordance with the Servicing Principles.

  • The principles of the allocation of the proceeds from the Reference Collateral to the Reference Obligations are set out in the section headed "Servicing Principles" in this Prospectus.

  • Reference Portfolio – Servicing The administration, collection and enforcement of each Reference Obligation, including the enforcement of any related Reference Collateral, shall be carried out in accordance with the Servicing Principles.

  • Reference Obligations may, from time to time, be amended or refinanced by the Relevant Lender in accordance with the Servicing Principles, including, without limitation, increases of the principal amount, changes to the interest rate of the loan and changes to the Reference Entity.

  • The Rural and Regional Passenger Transport Servicing Principles provide the strategic framework underpinning the passenger transport services provided in rural and regional areas.

  • Immediately after the Distribution, neither Distributing nor Controlled will be a “disqualified investment corporation” as defined in section 355(g)(2)(A).

  • The Servicing Principles constitute an integral part of the Terms and Conditions.

  • Compliance with the Servicing Principles is a condition to Loss Allocation as provided in § 8 and does not constitute an obligation of the Servicer.

  • Servicing Standards The administration, collection and enforcement of each Reference Claim, including the foreclosure on any related Reference Collateral, will be carried out by the Bank (in such capacity, the " Servicer") in accordance with its respective standard credit and collection procedures for similar assets as in effect from time to time and with the Servicing Principles set out below (see Reference Pool Servicing).

  • Subject to applicable law, the Servicer, may, on behalf of the holder of the relevant Receivable, agree on payment rescheduling or debt restructuring with a Borrower in accordance with Rabobank's Credit and Collection Policy and the Servicing Principles.


More Definitions of Servicing Principles

Servicing Principles means the servicing principles set forth in Appendix C to the Terms and Conditions. Compliance with the Servicing Standards is, subject to Provision 9 of the Reference Pool Provisions (Non-Compliance/Removal), a condition to the Loss Allocation and does not constitute an obligation of the Bank, the Determination Agent, the Servicer, KfW or the Issuer.
Sample 1

Related to Servicing Principles

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Accepted Master Servicing Practices With respect to any Mortgage Loan, those mortgage master servicing practices of prudent mortgage master servicing institutions which master service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with those used in preparing the financial statements referred to in Section 5.5.

  • Customary Servicing Practices means the customary servicing practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services for itself and others, as such customary servicing practices may be changed from time to time, it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing Practices.”

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • MacBride Principles means those principles relating to nondiscrimination in employment and freedom of workplace opportunity which require employers doing business in Northern Ireland to:

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Generally Accepted Accounting Principles means the standards for accounting and preparation of financial statements established by the Federal Accounting Standards Advisory Board (or its successor agency) or any successor standards adopted pursuant to relevant SEC rule.

  • Servicing Standard shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement. The Servicing Standard in the Lead Securitization Servicing Agreement shall require, among other things, that each Servicer, in servicing the Mortgage Loan, must take into account the interests of each Note Holder.

  • Servicing Standards As defined in Section 3.01(a).

  • Agreed Principles means the terms set out in Part 1 of Schedule 1;

  • Privacy Shield Principles means the Privacy Shield Principles (as supplemented by the Supplemental Principles) contained in Annex II to the European Commission Decision C(2016)4176 of 12 July 2016 (as may be amended, superseded or replaced).

  • Servicing Procedures means the servicing procedures of Ford Credit relating to retail installment sale contracts originated or purchased by Ford Credit as the procedures may change.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

  • Customary Servicing Procedures means procedures (including collection procedures) that the Assuming Institution (or, to the extent a Third Party Servicer is engaged, the Third Party Servicer) customarily employs and exercises in servicing and administering mortgage loans for its own accounts and the servicing procedures established by FNMA or FHLMC (as in effect from time to time), which are in accordance with accepted mortgage servicing practices of prudent lending institutions.

  • Interim Servicing Period The period from the Closing Date to the related Servicing Transfer Date.

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

  • GAAP means generally accepted accounting principles as in effect from time to time in the United States of America.

  • Halifax Abuse Principle means the principle explained in the CJEU Case C-255/02 Halifax and others;

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • U.S. GAAP means United States generally accepted accounting principles.