Subservicers definition

Subservicers. HomeAmerican Credit, Inc., d/b/a Upland Mortgage, a Pennsylvania corporation, or its successor in interest and New Jersey Mortgage and Investment Corp., a New Jersey corporation, or its successor in interest.

Subservicers shall have the meaning specified in Section 9.07.

Subservicers shall have the meaning given in Section 12.3(a). “Subservicing Agreement” shall have the meaning given in Section 12.3(a).

Examples of Subservicers in a sentence

• The costs and fees of the Servicers (and any Subservicers) shall be borne exclusively by the Manager in its individual capacity without any right of reimbursement from the Company or the Initial Member (it being understood that the Manager will receive the Interim Management Fee and Management Fee in accordance with Section 12.5 hereof).

• No Servicer or Subservicer shall be paid any fees or indemnified out of any Loan Proceeds (or funds in the Collection Account, the Working Capital Reserve Account or any other Company account), it being understood that all fees and related costs of liabilities of the Servicers and Subservicers shall be the sole responsibility of the Manager (without any right of reimbursement from the Company or the Initial Member).

• All actions of each Servicer (or any Subservicer) performed pursuant to the Agreement (or any Subservicing Agreement) shall be performed as an agent of the Manager (or, in the case of Subservicers, the Servicer).

• No Subservicer shall be paid any fees or indemnified out of any Loan Proceeds, it being understood that all fees and related costs and liabilities of retaining any Subservicers shall be the sole responsibility of the Servicer.

• Each Subservicing Agreement shall replicate the current REO Improvement Policy as set forth in the Current SPS Agreement; provided that Approved Subservicers shall be prohibited from using affiliated vendors to provide REO improvements and any such REO improvements must be commercially reasonable.

More Definitions of Subservicers

Subservicers means initially XxXxx'x and CPS, and any ------------ Person thereafter appointed by the Servicer as a Subservicer of the Receivables.

Subservicers. Any person or entity with whom Central Servicer has a contract to provide services or responsibilities on behalf of Central Servicer.

Subservicers means, with respect to the Servicer, any subservicer or contingent collection agent with whom the Servicer enters into an agreement.

Subservicers a ____________ corporation, or its successor in interest and _______________, a ________ corporation, or its successor in interest. App.A-32

Subservicers. As defined in Section 2.01.

Subservicers means initially XxXxx'x, Inc. and Xxxxxx Xxxxx ------------ Xxxxx & Co. and any Person thereafter appointed by the Servicer as a subservicer of the Receivables."

Subservicers means Upland and ABMS. "Subsidiary" means, with respect to any Person, any corporation, partnership or other entity of which at least a majority of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership or other entity (irrespective of whether or not at the time securities or other ownership interests of any other class or classes of such corporation, partnership or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person. "Substitute Assets" has the meaning assigned thereto in Section 16(a). "Termination Date" has the meaning assigned thereto in Section 27. "Total Shareholder's Equity" means with respect to any Person, the excess of total assets of such Person over total liabilities of such Person, as determined in accordance with GAAP. "Transaction" has the meaning assigned thereto in Section 1. "Transaction Notice" means a written request of Seller to enter into a Transaction, in the form attached to the Custody Agreement which is delivered to Buyer and Custodian. "Trust Receipt" means a Trust Receipt and Certification as defined in the Custody Agreement. "Underwriting Guidelines" means an Originator's underwriting guidelines in effect as of the date of this Agreement, as the same may be amended from time to time in accordance with terms of this Agreement. "Uniform Commercial Code" means the Uniform Commercial Code as in effect on the date hereof in the State of New York or the Uniform Commercial Code as in effect in the applicable jurisdiction. "Upfront Fee" shall have the meaning assigned thereto in the Side Letter. "Upland" means HomeAmerican Credit, Inc. (d/b/a Upland Mortgage) and its permitted successors and assigns.