Common use of Eligible Subservicer Clause in Contracts

Eligible Subservicer. Select Portfolio Servicing, Inc. (“SPS”) for so long as it is under the “control” (as defined in the Exchange Act) of the Administrative Agent or one of its affiliates or (B) otherwise, an established mortgage servicer who (i) meets the criteria to be an eligible successor Servicer under the related Servicing Agreement(s), (ii) meets the minimum financial requirements of ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇▇ Mac approved servicers, (iii) with respect to a Subservicer other than in the case of Nationstar, has a servicer rating of at least “Average” from S&P, (iv) has been approved by the Administrative Agent in writing in its sole discretion (Nationstar having been so approved so long as it continues to meet the criteria in clauses (i) and (ii)) and (v) in the case of any Subservicer other than Nationstar or SPS, is subject to such financial tests and control tests and other ongoing tests for eligibility as are required by the Administrative Agent in its sole discretion. SPS is controlled by the Administrative Agent or an affiliate thereof on the date hereof and is therefore an Eligible Subservicer on the date hereof.