Servicer Basic Documents definition

Servicer Basic Documents means the Basic Documents to which the Servicer is a party.
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Servicer Basic Documents means all Basic Documents to which the initial Servicer is a party or by which it is bound. "Servicer Termination Event" has the meaning given to such term in Section 7.13. "Servicer Termination Notice" has the meaning given to such term in Section 7.13. "Servicing Fee" means the fee payable to the Servicer on each Payment Date in accordance with Section 2.09(b) in an amount equal to either (i) in the case of the initial Servicer, the product of (a) one-twelfth times (b) the applicable Servicing Fee Rate times (c) the average daily Principal Balance of the Receivables during the related Collection Period or (ii) in the case of the Backup Servicer in its capacity as Successor Servicer, the related fees set forth in the Backup Servicing Agreement; provided, that the Servicing Fee for a Successor Servicer may 42 149194398v7 be subject to a minimum monthly fee to be mutually agreed upon by the Required Lenders and such Successor Servicer. "Servicing Fee Rate" means, in the case of the initial Servicer, on any date of determination, a rate per annum equal to 2.00%.the sum of (i) the product of (a) 1.00% per annum times (b) the Prime Receivable Collateral Percentage on such date, plus (ii) the product of (a) 3.00% per annum times (b) 100% minus the Prime Receivable Collateral Percentage on such date. "Short-Term Rating Requirement" means, with respect to any Person, that such Person has a short-term unsecured debt rating of not less than A-1 by Standard & Poor's and not less than Prime-1 by Xxxxx'x. "Significant Take-out Date" means, at any time the Aggregate Adjusted Principal Balance is greater than or equal to $175,000,000, any Take-out Date on which the aggregate Adjusted Principal Balance of Receivables that are released from the Collateral in accordance with Section 2.12 have an aggregatewould cause the Aggregate Adjusted Principal Balance (i) of at least $40,000,000 and (ii) that represents 80% or more of the Eligible Pool Balance on such Take-out Date (beforeto be less than $175,000,000 after giving effect to such Take-out); provided, that if any Receivables that are so released on a Take-out Date are included in the Collateral again during the Collection Period in which the related Take-out Date occurred or during the either of the two succeeding Collection Periods, then such Receivables shall be deemed not to have been released from the Collateral on the initial Take-out Date for purposes of this definition, but only as of the date on which they are ag...
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Servicer Basic Documents means all Basic Documents to which the initial Servicer is a party or by which it is bound. "Servicer Termination Event" has the meaning given to such term in Section 7.13. "Servicer Termination Notice" has the meaning given to such term in Section 7.13. "Servicing Fee" means the fee payable to the Servicer on each Payment Date in accordance with Section 2.09(b) in an amount equal to either (i) in the case of the initial Servicer, the product of (a) one-twelfth times (b) the applicable Servicing Fee Rate times (c) the average daily Principal Balance of the Receivables during the related Collection Period or (ii) in the case of the Backup Servicer in its capacity as Successor Servicer, the related fees set forth in the Backup Servicing Agreement; provided, that the Servicing Fee for a Successor Servicer may
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Examples of Servicer Basic Documents in a sentence

  • All approvals, authorizations, consents, orders or other actions of any Person or of any Governmental Authority (if any) required for the due execution, delivery and performance by the Servicer of the Servicer Basic Documents have been obtained.

  • The Servicer will timely and fully perform and comply in all material respects with all provisions, covenants and other promises required to be observed by it under the Servicer Basic Documents.

  • The Servicer (i) has all necessary power, authority and legal right to (A) execute and deliver the Servicer Basic Documents and (B) carry out the terms of the Servicer Basic Documents and (ii) has duly authorized by all necessary corporate action the execution, delivery and performance of the Servicer Basic Documents.

  • The Servicer (i) has all necessary corporate power, authority and legal right to (A) execute and deliver the Servicer Basic Documents and (B) carry out the terms of the Servicer Basic Documents and (ii) has duly authorized by all necessary corporate action the execution, delivery and performance of the Servicer Basic Documents.

  • All Monthly Reports, information, exhibits, financial statements, documents, books, records or reports furnished or to be furnished by the Servicer to the Paying Agent or any Secured Party in connection with the Servicer Basic Documents are accurate, true and correct in all material respects.

  • The transactions contemplated by the Servicer Basic Documents do not and will not render the Servicer not Solvent.


More Definitions of Servicer Basic Documents

Servicer Basic Documents means all Basic Documents to which the Servicer or any Subservicer is a party or by which it is bound. “Servicer File” means, with respect to a Receivable, each of the following documents: (i) application of the Obligor for credit; (ii) a copy (but not the original) of the Contract and any amendments thereto; and (iii) such other documents as the Servicer customarily retains in its files in order to accomplish its duties under this Agreement in accordance with the Collection Policy. “Servicer Master Collection Account” means each account established by the Master Collection Account Bank (and subject to the Servicers Account Agreement and the Intercreditor Agreement) listed on Schedule G-1 attached hereto, as such schedule may be updated from time to time in accordance with Section 6.04(t). “Servicer Termination Event” has the meaning given to such term in Section 7.11. “Servicer Termination Notice” has the meaning given to such term in Section 7.11. “Servicing Centralization Event” [***]. “Servicing Fee” means the fee payable to the Servicer on each Payment Date, monthly in arrears in accordance with Section 2.08, in an amount equal to the product of (i) the Servicing Fee Rate, (ii) the aggregate Principal Balance of all Receivables as of the first day of the related Collection Period (or, with respect to any Receivables added or to be added to the Collateral following such first day, the related Cutoff Date) and (iii) 1/12; provided, that the Servicing Fee for the Collection Period during which the initial Funding Date occurs, shall be an amount equal to the product of (i) the Servicing Fee Rate, (ii) the aggregate Principal Balance of all Receivables as of the related Cutoff Date and (iii) a fraction having as its numerator the number of days from the initial Funding Date through the end of the related Collection Period, and as its denominator 360. “Servicing Fee Rate” [***].
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Servicer Basic Documents means all Basic Documents to which the Servicer or any Subservicer is a party or by which it is bound. Signature Page to Credit Agreement (Heights/SouthernCo)
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Related to Servicer Basic Documents

  • Basic Documents means this Agreement, the Certificate of Trust, the Trust Agreement, the Purchase Agreement, the Indenture, the Asset Representations Review Agreement, the Underwriting Agreement and other documents and certificates delivered in connection therewith.

  • Backup Servicing Agreement means the Amended and Restated Backup Servicing Agreement dated as of the Closing Date among the Borrower, the Servicer, the Administrative Agent and the Backup Servicer, as amended by that certain Amendment No. 1 to Backup Servicing Agreement dated as of April 14, 2009, as the same may from time to time be further amended, restated, supplemented, waived or modified.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Sub-Servicing Agreement The written contract between the Servicer and a Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • Depositor means Advisors Asset Management, Inc. and its successors in interest, or any successor depositor appointed as hereinafter provided."

  • Non-Lead Servicing Agreements means the PSA with respect to each Non-Lead Note (other than the Non-Lead Note that is included in the Lead Securitization).

  • Securitization Servicing Agreement means the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement.