Settlement Party definition
Settlement Party means, in connection with each Direct Disbursement Transaction, the party identified in the related Transaction Request as the intended recipient of the applicable Purchase Price and Haircut Amount for such Eligible Asset to be disbursed by Buyer, which party shall be a title company, title insurance agent, escrow company or attorney reasonably acceptable to Buyer in its sole discretion that is a division, subsidiary, licensed agent, or authorized agent of a title insurance underwriter, unaffiliated (unless otherwise agreed by Buyer) with Seller and insured against errors and omissions in such amounts and covering such risks as are at all times customary for its business and with industry standards, to which the origination proceeds for such Mortgage Loan are to be wired in accordance with local law and practice; provided, that each of Amrock, Inc. and its Subsidiaries shall be deemed satisfactory to Buyer while it is an Affiliate of Seller and eligible to act as a settlement party (or closing agent) under applicable Agency Guidelines.
Settlement Party has the meaning specified in the Transaction Guidelines.
Settlement Party has the meaning specified in Section 5.24(a).
Examples of Settlement Party in a sentence
The Seller acknowledges and agrees that it shall be liable to Administrative Agent for any acts or omissions of any Settlement Party that cause Administrative Agent to incur any loss or expense (including without limitation attorney’s fees).
More Definitions of Settlement Party
Settlement Party has the meaning set forth in Section 6.7(c).
Settlement Party means, in connection with each Direct Disbursement Transaction, the party identified in the related Transaction Request as the intended recipient of the applicable Purchase Price and Haircut Amount for such Eligible Asset to be disbursed by Administrative Agent, which party shall be either (a) a title company, title insurance agent, escrow company or attorney reasonably acceptable to Administrative Agent that is a division, subsidiary, licensed agent, or authorized agent of a title insurance underwriter, unaffiliated with Seller (other than LD Settlement Services, LLC and its Subsidiaries (existing as of the date of this Agreement), which is approved by the Administrative Agent as of the date of this Agreement and for so long as it is an Affiliate of Seller and eligible to act as a settlement party under applicable Agency Guidelines) and insured against errors and omissions in such amounts and covering such risks as are at all times customary for its business and with industry standards, to which the origination proceeds for such Mortgage Loan are to be wired in accordance with local law and practice, or LEGAL02/44639412v17
Settlement Party means, in connection with each Direct Disbursement Transaction, the party identified in the related Transaction Request as the intended recipient of the applicable Purchase Price and Haircut Amount for such Eligible Asset to be disbursed by Administrative Agent, which party shall be either (a) a title company, title insurance agent, escrow company or attorney reasonably acceptable to Administrative Agent that is a division, subsidiary, licensed agent, or authorized agent of a title insurance underwriter, unaffiliated with Seller (other than LD Settlement Services, LLC and its Subsidiaries (existing as of the date of this Agreement), which is approved by the Administrative Agent as of the date of this Agreement and for so long as it is an Affiliate of Seller and eligible to act as a settlement party under applicable Agency Guidelines) and insured against errors and omissions in such amounts and covering such risks as are at all times customary for its business and with industry standards, to which the origination proceeds for such Mortgage Loan are to be wired in accordance with local law and practice, or
Settlement Party means, in connection with each Direct Disbursement Transaction, the party identified in the related Transaction Request as the intended recipient of the applicable Purchase Price and Haircut Amount for such Eligible Asset to be disbursed by Buyer, which party shall be either (i) with respect to Wet-Ink Transactions, an unaffiliated title company, title insurance agent, escrow company or attorney which is responsible for disbursing the origination proceeds of the Mortgage Loan or a seller of such Mortgage Loan unaffiliated with a Seller Party, or (ii) with respect to all other Transactions, Seller or its designee.