Servicing Duties definition

Servicing Duties means those duties of the Servicer which are enumerated in Section 7.2.
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Servicing Duties. Defined in Section 7.2.
Sample 1Sample 2Sample 3
Servicing Duties means those duties of the Servicer which are enumerated inSection 7.2.
Sample 1Sample 2Sample 3

Examples of Servicing Duties in a sentence

  • The factors for each class of notes will initially be 1.0000000 and will decline as the outstanding principal amount of the class declines.For information about other reports prepared by the servicer, including assessment of compliance with the minimum servicing criteria, you should read "Principal Transaction Documents — Servicing agreement — Servicing Duties".

  • IV.3.2 Financial Administration and Procedure Protocol of the Sociedad Gestora The Sociedad Gestora, in the performance of functions included in its corporate object, will carry out the administration and Servicing Duties of the Fondo’s assets pursuant to the Procedure Protocol approved by its Board of Directors, a copy of which is attached hereto as Annex 6.

  • Since the guaranteed portion of the loan is generally not applied against a bank's lending limit, it can be used to expand lending capabilities.• Increased Return on Investment and Retains Loan Servicing Duties.

  • During such one- month period, BBVA shall continue to carry out the Servicing Duties on the understanding that if this is not legally possible, the Sociedad Gestora shall directly assume the Servicing Duties while it finds a new servicer with the requisite credit rating.

  • BBVA will carry out the Servicing Duties relating to theCovered Obligations in accordance with the Collection Policy of BBVA which is attached hereto as Annex 9 (hereinafter, the “ Collection Policy”).

  • BBVA will indemnify the Fondo, through its Sociedad Gestora, for any damage, loss or expense it incurs as a result of a breach of its obligations in relation to the administration and collection of the Covered Obligations incorporated into the Fondo or the obligations relating to the custody representing the Loans and Lines of Credit from which these derive, or due to malicious or negligent actions carried out by said entity in the performance of its Servicing Duties.

  • If the Sociedad Gestora does not find a new servicer with such credit rating within a month, it shall directly assume the Servicing Duties and consequently exercise the administration, management and custody of the Covered Obligations.

  • IV.3.1.3 Term BBVA will carry out the Servicing Duties until (i) the Covered Obligations incorporated into the Fondo have been fully redeemed , (ii) all of BBVA’s obligations in relation to the Covered Obligations have been cancelled, or (iii) the liquidation of the Fondo has concluded, subject to any possible revocation of its mandate pursuant to the Administration, Collection and Deposit of Covered Obligations Agreement.

  • If the Sociedad Gestora fails to find a new collection agent with such a credit rating within a month, the Sociedad Gestora shall directly assume the Servicing Duties and will consequently be responsible for the administration, collection and custody of the Covered Obligations.

  • During such one-month period, BBVA shall continue to carry out the Servicing Duties on the understanding that if this is not legally possible, the Sociedad Gestora shall directly assume the Servicing Duties while it finds a new servicer with the requisite credit ratings.


More Definitions of Servicing Duties

Servicing Duties. Those duties of the Servicer which are enumerated in Section 7.2.
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Servicing Duties. As defined in Section 6.1.
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Servicing Duties means those duties of the Servicer which are enumerated in Section 7.2. “Servicing Fee” means, for each Payment Date, an amount equal to the sum of the products, for each day during the related Settlement Period, of (i) the Outstanding Loan Balance of each Loan as of the preceding Determination Date, (ii) the applicable Servicing Fee Rate, and (iii) a fraction, the numerator of which is 1 and the denominator of which is 360. “Servicing Fee Limit Amount” means for each Payment Date, an amount equal to 10% of the Servicing Fee for the related Settlement Period. “Servicing Fee Rate” means with respect to all Loans, a rate equal to 2.0% per annum. “Servicing Records” means all documents, books, records and other information (including, without limitation, computer programs, tapes, disks, data processing software and related property rights) prepared and maintained by the Servicer with respect to the Transferred Loans and the related Obligors. “Settlement Period” means each period from and including a Payment Date to but excluding the following Payment Date. 44
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Servicing Duties has the same meaning as defined in Section 1.01 of the Services Agreement.
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Servicing Duties. As defined in Article VI. ---------------- Servicing Fee: For each Payment Date, an amount equal to the sum of the ------------- products, for each day during the related Collection Period, of (i) the Advances Outstanding on such day, (ii) the Servicing Fee Rate and (iii) a fraction, the numerator of which is 1 and the denominator of which is 360. Servicing Fee Rate: A rate equal to 1.0% per annum. ------------------ Servicing Records: All documents, books, records and other information ----------------- (including, without limitation, computer programs, tapes, disks, data processing software and related property rights) prepared and maintained by the Servicer with respect to the Loans and the related Obligors.
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Related to Servicing Duties

  • Servicing Agreement means such subsequent Servicing Agreement; provided, however, that until a replacement Servicing Agreement has been entered into (and such written confirmation has been obtained), the Note A-1 Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage Loan; provided, further, however, that until a replacement Servicing Agreement is in place, the actual servicing of the Mortgage Loan may be performed by any Qualified Servicer appointed by the Note A-1 Holder and does not have to be performed by the service providers set forth under the Servicing Agreement that was previously in effect.

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

  • 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.