Modification Agreements. The Servicer or the related Subservicer, as the case may be, shall be entitled to (A) execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by this Servicing Agreement and other comparable instruments with respect to the Mortgage Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Company shall promptly execute any such documents on request of the Servicer) and (B) approve the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters, if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Mortgage Loan, that the security for, and the timely and full collectability of, such Mortgage Loan would not be adversely affected thereby. A partial release pursuant to this Section 3.05 shall be permitted only if the Combined Loan-to-Value Ratio for such Mortgage Loan after such partial release does not exceed the Combined Loan-to-Value Ratio for such Mortgage Loan as of the Cut-Off Date. Any fee collected by the Servicer or the related Subservicer for processing such request will be retained by the Servicer or such Subservicer as additional servicing compensation.
Modification Agreements. Section 3.06 Trust Estate; Related Documents............................................................... Section 3.07 Realization Upon Defaulted Loans; Loss Mitigation............................................. Section 3.08 Issuer and Indenture Trustee to Cooperate..................................................... Section 3.09 Servicing Compensation; Payment of Certain Expenses by Servicer............................... Section 3.10 Annual Statement as to Compliance............................................................. Section 3.11
Modification Agreements. 12 Section 3.06 Trust Estate; Related Documents..........................12 Section 3.07 Realization Upon Defaulted Loans; Loss Mitigation........13 Section 3.08 Issuer and Indenture Trustee to Cooperate................15 Section 3.09 Servicing Compensation; Payment of Certain Expenses by Servicer..............................................16 Section 3.10 Annual Statement as to Compliance........................16 Section 3.11 Annual Servicing Report..................................17 Section 3.12 Access to Certain Documentation and Information Regarding the Loans......................................17 Section 3.13 Maintenance of Certain Servicing Insurance Policies......17 Section 3.14 Information Required by the Internal Revenue Service and Reports of Foreclosures and Abandonments of Mortgaged Property.......................................17 Section 3.15 Optional Purchase of Loans by Servicer...................18 ARTICLE IV
Modification Agreements. The Master Servicer or the related Subservicer, as the case may be, shall be entitled to (A) execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by this Servicing Agreement and other comparable instruments with respect to the Revolving Credit Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the 1996-RHS4 LLC and the Indenture Trustee each shall promptly execute any such documents on request of the Master Servicer) and (B) approve the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters, if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Revolving Credit Loan, that the security for, and the timely and full collectability of, such Revolving Credit Loan would not be adversely affected thereby. A partial release pursuant to this Section 3.05 shall be permitted only if the Combined Loan-to-Value Ratio for such Revolving Credit Loan after such partial release does not exceed the Combined Loan-to-Value Ratio for such Revolving Credit Loan as of the Cut-off Date. Any fee collected by the Master Servicer or the related Subservicer for processing such request will be retained by the Master Servicer or such Subservicer as additional servicing compensation.
Modification Agreements. 11 Section 3.06 TRUST ESTATE; RELATED DOCUMENTS.......................................................12 Section 3.07 REALIZATION UPON DEFAULTED MORTGAGE LOANS.............................................13 Section 3.08 COMPANY AND INDENTURE TRUSTEE TO COOPERATE............................................14 Section 3.09 SERVICING COMPENSATION; PAYMENT OF CERTAIN EXPENSES BY SERVICER.......................15 Section 3.10 ANNUAL STATEMENT AS TO COMPLIANCE.....................................................15 Section 3.11
Modification Agreements. The Servicer shall be entitled to (A) execute assumption agreements, substitution agreements, and instruments of satisfaction or cancellation or of partial or full release or discharge, or any other document contemplated by this Servicing Agreement and other comparable instruments with respect to the Home Equity Loans and with respect to the Mortgaged Properties subject to the Mortgages (and the Issuer and the Indenture Trustee each shall promptly execute any such documents on request of the Servicer) and (B) approve the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property or other similar matters, if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Home Equity Loan, that the security for, and the timely and full collectability of, such Home Equity Loan would not be adversely affected thereby. A partial release pursuant to this Section 3.05 shall be permitted only if the Combined Loan-to-Value Ratio for such Home Equity Loan after such partial release does not exceed the Combined Loan-to-Value Ratio for such Home Equity Loan as of the Cut-off Date. Any fee collected by the Servicer or the related Subservicer for processing such request will be retained by the Servicer or such Subservicer as additional servicing compensation.
Modification Agreements. Section 3.06 Trust Estate; Related Documents.................................. Section 3.07 Realization Upon Defaulted Mortgage Loans........................ Section 3.08 Depositor and Indenture Trustee to Cooperate..................... Section 3.09
Modification Agreements. 14 Section 3.06 Trust Estate; Related Documents...................................14 Section 3.07 Realization Upon Defaulted Mortgage Loans.........................15 Section 3.08 Issuer and Indenture Trustee to Cooperate.........................16 Section 3.09 Servicing Compensation; Payment of Certain Expenses by Servicer..........................................................17 Section 3.10 Annual Statement as to Compliance.................................18 Section 3.11 Annual Servicing Report...........................................18 Section 3.12 Access to Certain Documentation and Information Regarding the Mortgage Loans................................................18 Section 3.13 Maintenance of Certain Servicing Insurance Policies...............19 Section 3.14 Information Required by the Internal Revenue Service and Reports of Foreclosures and Abandonments of Mortgaged Property..........................................................19 Section 3.15 Optional Repurchase or Transfer of Mortgage Loans.................19 Section 3.16 Reserved..........................................................21 Section 3.17 Pre-Funding Account...............................................21 Section 3.18 Funding Account...................................................22 Section 3.19 Capitalized Interest Account......................................24 Section 3.20 Reserve Sub-Account...............................................25 Section 3.21 Enforcement of Due-on-Sale Clauses; Assumption and Modification Agreements; Certain Assignments......................25
Modification Agreements. With respect to (i) the Waiver and Termination Agreements between First Community Bank , on the one hand, and respectively Messrs. Albert R. Jackson, III, Keith Lindauer and William Dean Jackson on txx xxxxx xxxx, (xi) the Xxxxxxxxxxxxxxt of Xxxxxxxnx xxxxxxxxxxs executed by First Community Bank, on the one hand, and respectively by each of the Affiliated Shareholders and Messrs. Keith Lindauer, Donald Goeb and William Dean Jackson, on the other hxxx, xxx (xxx) txx Xxxxxxxxion axx Xxxxtxxx xx Xxxxx Retirement instruments respectively executed by Messrs. Albert R. Jackson, Jr., Xxxxx X. Xxxxx xxx Xxrrill M. Wesemann (collectively, the " Modificaxxxx Xxxxxxxxxs"): xxxx xx xxx xxxxxxx respectively executing and delivering the Modification Agreements has all requisite personal capacity (or in the case of First Community Bank, corporate power and authority) to execute and deliver the Modification Agreements to which he or it is a party and to effect the waivers, acknowledgments and other actions respectively contemplated thereby. The Company has delivered true and complete copies of such signed Modification Agreements to Parent prior to the execution of this Agreement by Parent.
Modification Agreements. At least five business days prior to the Closing, the Company shall enter into with each FFM Employee a modification agreement (the "Modification Agreement") which shall have the effect of (i) fixing the dollar value of the amount of Parent Common Stock issuable to each FFM Employee, (ii) providing that the FFM Employees shall have no rights to the Additional Payments, (iii) setting forth the appropriate pro rata percentage of Contingent Payments to which each FFM Employee is entitled to receive (which percentages shall equal the percentages referenced in subparagraph (b) above), (iv) providing that Parent and Surviving Corporation can withhold the Compensation Tax Withholdings from the shares issuable and amounts payable to the FFM Employees, and (v) such other terms as Parent and the Company shall agree. Such Modification Agreements shall specifically state that Parent is entitled to rely upon such agreements. The form and substance of the Modification Agreements shall be subject to Parent's approval in its reasonable discretion. Also at least five business days prior to the Closing, the Company shall present to Parent a spread sheet detailing all payments and distributions to be made as a result of the Modification Agreements, which spreadsheet shall be subject to Parent's approval in its reasonable discretion.
