Examples of Underlying Servicer in a sentence
For any Distribution Date, the month immediately preceding themonth in which such Distribution Date occurs (the “Loss Period”).Delinquency Determination Date For any Distribution Date, the close of business on the last day of themost recent month for which the Master Servicer has received Mortgage Loan delinquency data from an Underlying Servicer and completed its review (the “Delinquency Determination Date”).
If the Portfolio Asset Servicer does not receive from the related Underlying Servicer, Counterparty Lender or Obligor the payments to be paid to Borrower or the Portfolio Asset Servicer as Collections on the date when such payments are scheduled to be made (to the extent the Portfolio Asset Servicer has received such payment information from the Underlying Servicer), the Portfolio Asset Servicer shall promptly notify Borrower and such Underlying Servicer, Counterparty Lender or Obligor.
The Borrower (and the Portfolio Asset Servicer on its behalf) shall not make any change in its instructions to the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Agent, Underlying Servicer or issuer of any Portfolio Asset, as applicable, regarding payments to be made with respect to the related Portfolio Asset to the Collection Account, as applicable, unless the Majority Lenders have directed, or otherwise has consented in writing to, such change.
The Collection Account is the only account to which the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Agent, Underlying Servicer or issuer of any Portfolio Asset have been instructed by the Borrower or the Portfolio Asset Servicer on Borrower’s behalf, to send Collections with respect to the Portfolio Assets.
Furthermore, as set forth in the table below, one of the Underwriters is affiliated with the specified Underlying Seller and Underlying Servicer of Mortgage Loans and the aggregate Cut-Off Date Balance of the Mortgage Loans purchased from and serviced by such Underlying Seller and Underlying Servicer exceeded 1% of the aggregate Cut-Off Date Balance of the Mortgage Loans.
The Collection Account is the only account to which the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Servicer or issuer of any Loan Asset have been instructed by the Borrower or the Portfolio Asset Servicer on the Borrower’s behalf, to send Collections with respect to the Loan Assets.
Each Monthly Report shall be certified by a Responsible Officer of the Underlying Servicer.
This Agreement and any agreements or letters (including fee letters) executed in connection herewith contains the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof, superseding all prior oral or written understandings other than any fee letter delivered by the Underlying Servicer to the Deal Agent and the Lenders.
Promptly upon the request made to the Borrower or the Underlying Servicer, copies of all registration statements and annual, quarterly, monthly or other regular reports which AmeriCredit Corp.
Amounts deposited by the Borrower or any Underlying Servicer in the Collection Account pursuant to this Section 2.10 on account of Loan Assets shall be treated as Collections for purposes of Section 2.08 and shall be applied as and when provided in Section 2.08.