Examples of Supplemental Servicer in a sentence
The Supplemental Servicer shall appoint a nationally-recognized firm of independent accountants reasonably acceptable to the Certificate Insurers, the Trustee and the Servicer to serve as the verification agent (the "Verification Agent").
The Supplemental Servicer may assign its rights and obligations hereunder to any Person with the prior written consent of the Servicer and the Certificate Insurer with respect to the related Trust.
The Supplemental Servicer shall pay any reasonable and customary fees charged by the Trustee in connection with the issuance of any Supplemental Servicing Certificate or for effecting any transfer thereof.
All amounts subject to disagreement shall be deposited into the Principal and Interest Account for the related Trust (and the Servicer acknowledges and agrees that the Supplemental Servicer may issue a Disbursement Notice to the Clearing Bank so instructing the Clearing Bank) and shall not be disbursed from such Principal and Interest Account until the earlier of resolution or the next Monthly Remittance Date.
This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns notwithstanding any provision of any Pooling Agreement that might deem this Amendment to be binding only upon the Servicer or Supplemental Servicer.
The Supplemental Servicer shall not have any liability for any consequential, incidental, special, exemplary, punitive, or any similar, damages and each party hereto irrevocably and unconditionally waives any right it may have to claim or recover any such damages.
Notwithstanding anything to the contrary contained in this Amendment, the Servicer shall continue to be responsible for making each Delinquency Advance pursuant to Section 8.09(a) of each Pooling Agreement in the event the Supplemental Servicer fails to make any required Supplemental Advance on the date required hereunder.
The Supplemental Servicer hereby agrees to indemnify and hold each Trust and the Trustee harmless against any loss, liability, claim, damage or expense incurred in connection with any legal action or proceeding brought by any third party who has acquired an interest in any Supplemental Servicing Certificate.
In the event the Verification Agent disagrees with any amounts set for in the Supplemental Delinquency Advance Notice, it shall immediately notify the Supplemental Servicer and the Servicer of its findings.
To the extent requested by the Supplemental Servicer, the Verification Agent shall also review Disbursement Notices given by the Servicer.