GENERAL SERVICING Sample Clauses

The General Servicing clause outlines the obligations and standards for the ongoing maintenance and support of goods or services provided under the agreement. It typically specifies the types of servicing to be performed, such as routine inspections, repairs, or updates, and may set out response times or service levels expected from the provider. This clause ensures that the recipient receives consistent and reliable support, minimizing downtime and maintaining the functionality or value of the goods or services throughout the contract term.
GENERAL SERVICING. 1. For all Receivables with an outstanding balance greater than zero dollars ($0.00) as of the first day of the related Collection Period, a monthly serving fee equal to one- twelfth of 1.85% of the outstanding balance or $10.00, whichever is greater. 2. All extension fees that are received during the related Collection Period. 3. All late charges that are received during the related Collection Period. 4. A charge of $25.00 per filing of Credit Enhancement claims forms with the designated Insurers during the related Collection Period.
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GENERAL SERVICING. 1. For all Receivables with an outstanding balance greater than zero dollars ($0.00) as of the first day of the related Collection Period, a monthly serving fee equal to one- twelfth of 2.05% of the outstanding balance or $10.00, whichever is greater; provided, however, that with respect to Receivables serviced or subserviced by Systems and Services Technology, Inc., only one- twelfth of 1.15% of such outstanding balance shall be payable currently on each Distribution Date and the balance of .90% will accrue on each Distribution Date and be deferred and paid from the Reserve Fund in accordance with the terms of the Master Trust Agreement; provided further that the amount payable currently shall be adjusted from time to time to equal 100% of the reasonable and necessary costs and expenses of the Servicer, not to exceed 1.85% of the outstanding balance. 2. All extension fees that are received during the related Collection Period. 3. All late charges that are received during the related Collection Period. 4. A charge of $25.00 per filing of Credit Enhancement claims forms with the designated Insurers during the related Collection Period.
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GENERAL SERVICING. 10.1 BMS shall be responsible for and will provide any relevant service requested by the Client in relation to any reinsurance contract placed for the Client by BMS notwithstanding the expiry of the contract, unless BMS is satisfied that the Client has instructed a new broker to assume such responsibilities and that the new broker has accepted such instructions.
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GENERAL SERVICING. Prompt notification of corporate actions.
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GENERAL SERVICING. (a) Subject to the provisions of Section 6.2, GMACM shall accept from the Bank the Closed Loan Data File. Except as otherwise specified in Section 2.16 with respect to Credit Line Increases, GMACM shall assume servicing responsibilities hereunder with respect to each Loan for which a Closed Loan Data File is delivered to it immediately upon receipt of that Closed Loan Data File from the Bank. In performing the Servicing Activities, GMACM shall be entitled to rely upon information contained in the Closed Loan Data File unless otherwise notified by the Bank. (b) GMACM shall service the Loans in accordance with all applicable laws and regulations, the terms of this Agreement, and the terms of the Bank Servicing Guides, which is incorporated herein by reference as if set forth herein in its entirety, except as specifically modified by any Servicing Changes. Servicing Activities shall include all operational servicing functions with respect to the Loans and GMACM shall be responsible for assuring that all Servicing Activities are carried out in full compliance with all applicable laws or regulations; provided, however, that to the extent certain Servicing Activities are not governed by law or regulations or by any specific provision of this Agreement (including, without limitation, the Bank Servicing Guide(s)), GMACM shall exercise the same standard of care in performing these activities for the Bank as it exercises in its own operations.
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GENERAL SERVICING. In connection with each Loan and subject to the provisions of Section 6.02, Subservicer shall accept from Owner the Loan Data Reports. Subservicer shall assume servicing responsibilities hereunder with respect to each Loan for which a Loan Data Report is delivered to it immediately upon receipt of that Loan Data Report from Owner. During the period following the closing of the Loan but prior to receipt by Subservicer of the Loan Data Report from Owner, any requests received by Subservicer for advances or account-specific information will be referred back to the Owner. In performing the Servicing Activities, Subservicer shall be entitled to rely upon information contained in the Loan Data Report unless otherwise notified by Owner. Subservicer shall service the Loans in accordance with this Agreement, including the Home Equity Line Servicing Procedures, Accepted Servicing Practices, except as specifically modified by any Servicing Changes. The Subservicer shall service and administer the Loans through the exercise of the same care that it customarily employs for its own account. Servicing Activities shall include all operational servicing functions with respect to the Loans and Subservicer shall be responsible for assuring that all Servicing Activities are carried out in full compliance with all applicable laws. Without limiting the generality of the foregoing, commencing on the date that it receives the Loan Data Report in accordance with Section 6.02 with respect to any Loan, Subservicer shall be responsible for ensuring compliance with the periodic statement and disclosure requirements of Regulation Z promulgated by the Board of Governors of the Federal Reserve System; provided, further, that anything herein to the contrary notwithstanding, Subservicer shall be responsible for complying with the periodic statement and disclosure requirements of Regulation Z only upon receiving within the time period specified in Section 6.02 that portion of the information on a Loan Data Report that is necessary for preparing such statements and disclosures.
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Related to GENERAL SERVICING

  • General Servicing Procedures Section 6.01

  • General Servicing Obligations The Company shall sell any REO Property within two years after its acquisition by the REMIC unless (i) the Company applies for an extension of such two-year period from the Internal Revenue Service pursuant to the REMIC Provisions and Code Section 856(e)(3), in which event such REO Property shall be sold within the applicable extension period, or (ii) the Company obtains for the Purchaser an Opinion of Counsel, addressed to the Purchaser and the Company, to the effect that the holding by the REMIC of such REO Property subsequent to such two year period will not result in the imposition of taxes on "prohibited transactions" as defined in Section 860F of the Code or cause the REMIC to fail to qualify as a REMIC under the REMIC Provisions or comparable provisions of relevant state laws at any time. The Company shall manage, conserve, protect and operate each REO Property for the Purchaser solely for the purpose of its prompt disposition and sale in a manner which does not cause such REO Property to fail to qualify as "foreclosure property" within the meaning of Section 860G(a)(8) or result in the receipt by the REMIC of any "income from non-permitted assets" within the meaning of Section 860F(a)(2)(B) of the Code or any "net income from foreclosure property" which is subject to taxation under Section 860G(a)(1) of the Code. Pursuant to its efforts to sell such REO Property, the Company shall either itself or through an agent selected by the Company protect and conserve such REO Property in the same manner and to such extent as is customary in the locality where such REO Property is located and may, incident to its conservation and protection of the interests of the Purchaser, rent the same, or any part thereof, as the Company deems to be in the best interest of the Company and the Purchaser for the period prior to the sale of such REO Property; provided, however, that any rent received or accrued with respect to such REO Property qualifies as "rents from real property" as defined in Section 856(d) of the Code.

  • Servicing The servicing and collection practices used by the Mortgage Loan Seller with respect to the Mortgage Loan have been, in all respects legal and have met with customary industry standards for servicing of commercial loans for conduit loan programs.

  • General Services JHSS shall be responsible for administering and/or performing the customary services of a transfer agent and dividend disbursing agent; acting as service agent in connection with dividend and distribution functions; and for performing shareholder account and administrative agent functions in connection with the issuance, transfer and redemption or repurchase (including coordination with the Custodian) of Shares of each Fund, as more fully described in Schedule 1 - Duties of JHSS attached hereto and made part hereof, and in accordance with the terms of the Prospectus and Statement of Additional Information of the Fund, applicable laws and the procedures established from time to time between the Fund and JHSS.

  • Administration and Servicing OF MORTGAGE LOANS