Servicing Spread definition

Servicing Spread means 0.0005 times the outstanding Borrowing Advance Tranches.

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Servicing Spread means with respect to any Mortgage Loan, the total servicing fee calculated as a specified number of basis points payable to PMAC as servicer under the Servicing Contract with respect to such Mortgage Loan, but for the avoidance of doubt, excluding all reimbursements received for advances and other out-of-pocket expenditures from F▇▇▇▇▇▇ Mac by PMAC in accordance with the Servicing Contracts.

Servicing Spread means four basis points (0.0004).

Examples of Servicing Spread in a sentence

• Seller shall not pledge, obtain financing for, or otherwise permit any Lien of any creditor of Seller to exist on, any portion of the Servicing Spread Collections without the prior written consent of Purchaser.

• Seller is Solvent and the sale of the Current Excess Servicing Spread will not cause Seller to become insolvent.

• The consideration received by Seller upon the sale of the Current Excess Servicing Spread constitutes fair consideration and reasonably equivalent value therefor.

• The sale of the Current Excess Servicing Spread is not undertaken to hinder, delay or defraud any of the creditors of Seller.

• No security agreement, financing statement, equivalent security or lien instrument or continuation statement covering all or any part of the Current Excess Servicing Spread which has been signed by Seller or which Seller has authorized any other Person to sign or file or record, is on file or of record with any public office, except such as may have been terminated or filed by or on behalf of Purchaser.

• There are no accrued liabilities of Seller with respect to the Mortgage Loans or the Mortgage Servicing Rights or circumstances under which such accrued liabilities will arise against Purchaser as purchaser of the Current Excess Servicing Spread.

• If there are any funds remaining in the Current Spread Reserve Account after the Current Excess Servicing Spread and all indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller shall direct the Bank to distribute such remaining funds to, or as directed by, Seller.

• Seller and Purchaser intend and agree to treat the transfer and assignment of the Current Excess Servicing Spread as an absolute sale for tax purposes, and as an absolute and complete conveyance of title for property law purposes.

• Seller’s financial statements shall contain footnotes indicating that the Current Excess Servicing Spread has been sold, and Seller does not maintain any ownership interest therein.

• In the event servicing of the Mortgage Loans is transferred to sub-servicers for any reason, the servicing fees and expenses of such sub-servicers shall be paid by Seller and in no event will the amount of Servicing Spread Collections or termination payments otherwise allocable to the Current Excess Servicing Spread be reduced due to the payment of sub-servicing fees and expenses.

More Definitions of Servicing Spread

Servicing Spread means five basis points (0.0005).

Servicing Spread means (0.0005) times the outstanding Base Rate Borrowing Tranches.

Servicing Spread. With respect to any Mortgage Loan, the total fee for performance of the servicing function, calculated using the Servicing Spread Rate and the outstanding principal balance of the Mortgage Loans, and derived from the Mortgage Servicing Rights, but for the avoidance of doubt, excluding all Ancillary Income and reimbursements received for Advances and other out-of-pocket expenditures from the Agency by the Seller in accordance with the Servicing Agreement.

Servicing Spread. As defined in the TESPA.

Servicing Spread means five basis points (0.0005) times the Outstanding Borrowing Tranches.