Servicing Expenses shall have the meaning set forth in the Servicing Agreement.
Servicing Expenses. All customary, reasonable and necessary out-of-pocket costs and expenses paid or incurred in accordance with the Servicing Standard in connection with the obligations of the Collateral Manager, the Servicer or the Special Servicer, as the case may be (other than legal fees or expenses associated with contracting with a subservicer or payment of any subservicing fee), including without limitation:
Servicing Expenses. All customary, reasonable and necessary out-of-pocket costs and expenses paid or incurred in connection with the Master Servicer’s and the Special Servicer’s obligations hereunder, including without limitation:
Examples of Servicing Expenses in a sentence
The Transferor is to cause all Asset Proceeds received during any particular Due Period during the Interim Servicing Period (and remaining after reimbursement or payment of Interim Servicing Expenses and Pre-Approved Charges) to be remitted to the Collection Account as set forth in the Transfer Agreement.
The Servicer acknowledges and agrees that it will have no recourse against the Company for any amounts the Servicer is required to pay pursuant to this Section 8.2, and in no event will expenses incurred by the Servicer or any Subservicer in connection with its obligations under this Section 8.2 constitute Servicing Expenses or otherwise be deducted from or reimbursed out of Asset Proceeds.
Except as otherwise directed by the Manager, the Servicer must use (and cause each applicable Subservicer to so use) its reasonable best efforts to recover from Borrowers and Obligors all amounts of Servicing Expenses that are advanced by the Servicer (as permitted or required pursuant to the Servicing Obligations) as Servicer Advances to the extent that the Borrowers and Obligors are responsible for such Servicing Expenses under the Asset Documents.
More Definitions of Servicing Expenses
Servicing Expenses has the meaning given in the LLC Operating Agreement. Agreement. Agreement.
Servicing Expenses has the meaning set forth in Section 4.3(B)(i) of ------------------ the Cash Management Procedures.
Servicing Expenses means all customary and reasonable out-of-pocket fees, costs, expenses and indemnified amounts incurred in connection with servicing the Loans and the Acquired Collateral, including (i) any and all out-of-pocket fees, costs, expenses and indemnified amounts which a Borrower is obligated to pay to any Person or to reimburse to the lender pursuant to the applicable Note or any other Loan Documents, including Escrow Advances,
Servicing Expenses means certain costs and expenses of the Servicer payable in accordance with the provisions of the Servicing Agreement.
Servicing Expenses has the meaning given that term in the LLC Operating Agreement. “Servicing Transfer Date” means, with respect to any Loan, the date on which the transfer of the loan servicing records for such Loan to the Servicer’s system of records is completed and the Servicer begins to service such Loan, as determined in accordance with Section 3.3, which date the Initial Member and the Company anticipate shall be no later than March 31, 2010 or such other date as is agreed to by the Initial Member and the Company, it being understood and agreed that (i) the loan servicing records for each Group of Loans will be transferred to the Servicer’s system of records at the same time, but not necessarily at the same time as the loan servicing records for any other Group of Loans are transferred to the Servicer’s system of records, and (ii) the Initial Member and the Company will proceed (and the Company is to cause the Servicer to proceed) with all commercially reasonable diligence to effect such transfer of loan servicing records as soon as is practicable after the Closing.
Servicing Expenses means all customary and reasonable out-of-pocket fees, costs, expenses and indemnified amounts incurred in connection with servicing the Loans and the Acquired Property, including (i) any and all out-of-pocket fees, costs, expenses and indemnified amounts which a Borrower is obligated to pay to any Person or to reimburse to the lender, in each case, pursuant to the applicable Note or any other Loan Documents, including Escrow Advances, (ii) any and all reasonable out-of-pocket expenses necessary to protect or preserve the value of the Underlying Collateral or the priority of the Liens and security interests created by the Loan Documents relating thereto, including taxes, insurance premiums (including forced place insurance premiums), payment of ground rent, the costs of prevention of waste, repairs and maintenance, foreclosure expenses and legal fees and expenses relating to foreclosure or other litigation with respect to the Loans, (iii) any and all direct expenses related to the preservation, operation, management, leasing and sale of the Acquired Property (including real estate brokerage fees), (iv) Reimbursable Company Administrative Expenses, (v) subject to Section 4.6 of the LLC Operating Agreement (and excluding any amounts or claims the Private Owner is required to bear or indemnify pursuant to such Section 4.6), to the extent not covered by any of clauses (i) through (iv), legal fees and expenses (including judgments, settlements and reasonable attorneys fees) incurred by the Company, the Manager or the Servicer (including to reimburse any Subservicer) in its (or any Subservicer’s) defense of claims asserted against the Company (or the Manager, the Servicer or any Subservicer) that relate to one or more Loans or the conduct of the Business, and allege, as the basis for such claims, any act or omission of the Company (or the Manager, the Servicer or any Subservicer) but only if (1) such claims are not attributable to any act or omission of the Company, the Manager, the Servicer or any Subservicer in a manner inconsistent with, or in violation of, the Servicing Standard or any of the provisions of this Agreement, the LLC Operating Agreement or any other Ancillary Document, and, (2) (x) such claims are decided and there are final non appealable orders or judgments (unless the Initial Member has agreed in writing that no appeal needs to be taken) in favor of the Company (or the Manager or the Servicer) or if decided against the Company (or the Manager...
Servicing Expenses does NOT include services or products provided by or through the Lender for the benefit of the Borrower, guarantor, or other responsible party to facilitate their compliance with agreed terms and conditions. The mere fact that the Lender pays an expense does not in itself qualify it as a “Servicing Expense;” rather there must be a clear correlation to the enforcement of the Lender’s rights or remedies. Business restructuring expenses do not constitute “Servicing Expenses” unless prior written approval is obtained from the Rural Center.