SERVICING/SPECIAL SERVICING Clause Samples

The SERVICING/SPECIAL SERVICING clause defines the procedures and responsibilities for managing a loan, particularly when it is performing normally (servicing) versus when it encounters issues such as default or imminent default (special servicing). Under this clause, a designated servicer handles routine administration, while a special servicer takes over if the loan becomes troubled, addressing matters like workouts, restructurings, or foreclosures. This structure ensures that loans are managed efficiently and that specialized expertise is applied to resolve problems, thereby protecting the interests of lenders and investors.
SERVICING/SPECIAL SERVICING. Lender may change the Servicer from time to time without the consent of the Borrowers, on prior written notice to the Borrowers. The Borrowers expressly acknowledge and agree that the Servicer's fees (the "SERVICING FEE"), which shall in no event exceed five one-hundredths of one percent (.05%) per annum on the outstanding principal balance of the Loan, payable in monthly installments, and if the Loan becomes a specially serviced loan, any fees of the special servicer, shall be payable by the Borrowers and shall constitute a portion of the Obligations; provided, however, that at no time shall the Borrowers be liable for Servicing Fees or special servicing fees in excess of those fees charged to Lender by the Servicer or any special servicer.
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SERVICING/SPECIAL SERVICING. (a) The Servicer hereby agrees to serve as the servicer with respect to each of the Serviced Commercial Real Estate Loans and to perform servicing as described below and as otherwise provided herein, upon and subject to the terms of this Agreement. Subject to any limitation of authority under Section 2.03, “Servicing” shall mean those services pertaining to the Serviced Commercial Real Estate Loans which, applying the Servicing Standard, are required hereunder to be performed by the Servicer, and which shall include:
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SERVICING/SPECIAL SERVICING. Lender may change Servicer from time to time in accordance with the Trust Agreement without the consent of the Borrowers, on prior written notice to the Borrowers. The Borrowers expressly acknowledge and agree that Servicer Fees and Trustee Fees, and if the Loan becomes a Specially Serviced Loan, any additional fees of Servicer payable in connection therewith (including, but not limited to any Liquidation Fees and Workout Fees), and any Advance Interest and any other Additional Trust Fund Expenses and fees, including any Rating Agency fees, reimbursements and indemnifications as shall be incurred or payable in connection with any Securitization (collectively, the “Administrative Fee”) shall be payable by the Borrowers and shall constitute a portion of the Obligations. Lender shall provide a reasonably detailed statement of Administrative Fees for which the Borrowers are liable two (2) Business Days prior to the date when due; provided that failure to timely provide such statement shall not relieve the Borrowers from the obligation to pay all such Administrative Fees.
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SERVICING/SPECIAL SERVICING. Lender may change the Servicer from time to time without the consent of the Borrowers, on prior written notice to the Borrowers. The Borrowers expressly acknowledge and agree that the Servicer's fees and Trustee's fees (to the extent not included in the Component Rate), and if the Loan becomes a specially serviced loan, any additional fees of the Servicer payable in connection therewith, and such additional trust fund expenses and fees, including any Rating Agency fees, as shall be incurred in connection with the Securitization (collectively, the "SERVICING FEE") shall be payable by the Borrowers and shall constitute a portion of the Obligations; provided, however, that at no time shall the Borrowers be liable for Servicing Fees in excess of those fees charged to Lender. Lender shall provide a reasonably detailed statement of Servicing Fees for which the Borrowers are liable two (2) Business Days prior to the date when due; provided that failure to timely provide such statement shall not relieve the Borrowers from the obligation to pay all such Servicing Fees.
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SERVICING/SPECIAL SERVICING. Lender may change the Servicer from time to time without the consent of the Borrowers, on prior written notice to the Borrowers. The Borrowers expressly acknowledge and agree that the Servicer's fees (the "SERVICING FEE"), which shall in no event exceed five one-hundredths of one percent (.05%) per annum on the outstanding principal balance of the Loan, payable in monthly installments, and if the Loan becomes a specially serviced loan, any fees of the special servicer, shall be payable by the Borrowers and shall constitute a portion of the Obligations; provided, however, that at no time shall the Borrowers be liable for Servicing Fees or special servicing fees in excess of those fees charged to Lender by the Servicer or any special servicer............................................................................
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SERVICING/SPECIAL SERVICING. The parties hereto agree that the reference to “Servicer Fees” in the second sentence of Section 2.9 of the Loan Agreement shall be deleted and replaced by a reference to “Servicing Fees.”
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SERVICING/SPECIAL SERVICING. The Servicer hereby agrees to serve as the servicer with respect to each of the Commercial Real Estate Loans and to perform servicing as described below and as otherwise provided herein, upon and subject to the terms of this Agreement. Subject to any limitation of authority under Section 2.03, “Servicing” shall mean those services pertaining to the Commercial Real Estate Loans which, applying the Servicing Standard, are required hereunder to be performed by the Servicer, and which shall include: (i) reviewing all documents in its possession or otherwise reasonably available to it pertaining to such Commercial Real Estate Loans, administering and maintaining the Servicing Files, and inputting all necessary and appropriate information into the Servicer’s loan servicing computer system all to the extent and when necessary to perform its obligations hereunder; ▇▇▇▇▇▇▇▇.
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SERVICING/SPECIAL SERVICING. (a) The Servicer hereby agrees to serve as the servicer with respect to each of the Collateral Obligations set forth on the Collateral Obligations Schedule and to perform servicing as described below and as otherwise provided herein, upon and subject to the terms of this Agreement. Subject to any limitation of authority under Section 2.03, “Servicing” shall mean those services pertaining to the Collateral Obligations which, applying Accepted Servicing Practices, are required hereunder to be performed by the Servicer, and which shall include:
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Related to SERVICING/SPECIAL SERVICING

  • Servicer ARM_INDEX_RATE The index the Servicer is using to calculate 4 Max length of 6 6 a forecasted rate. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- ACTL_BEG_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11 the beginning of the processing cycle. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- ACTL_END_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11 the end of the processing cycle. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that MM/DD/YYYY 10 the borrower's next payment is due to the Servicer, as reported by Servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11 -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10 first curtailment amount. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs ($) 11 curtailment amount, if applicable. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11 -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10 second curtailment amount. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs ($) 11 curtailment amount, if applicable. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11 -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10 third curtailment amount. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs ($) 11 curtailment amount, if applicable. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- PIF_AMT The loan "paid in full" amount as reported 2 No commas(,) or dollar signs ($) 11 by the Servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10 Servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- ACTION_CODE The standard FNMA numeric code used to Action Code Key: 15=Bankruptcy, 2 indicate the default/delinquent status of a 30=Foreclosure, , 60=PIF, particular loan. 63=Substitution, 65=Repurchase,70=REO -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11 reported by the Servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11 applicable. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11 applicable. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs ($) 11 loss, if applicable. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount 2 No commas(,) or dollar signs ($) 11 due at the beginning of the cycle date to be passed through to investors. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs ($) 11 investors at the end of a processing cycle. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SCHED_PRIN_AMT The scheduled principal amount as reported 2 No commas(,) or dollar signs ($) 11 by the Servicer for the current cycle -- only applicable for Scheduled/Scheduled Loans. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or dollar signs ($) 11 service fee amount for the current cycle as reported by the Servicer -- only applicable for Scheduled/Scheduled Loans. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or dollar signs ($) 11 Servicer for the current reporting cycle -- only applicable for Actual/Actual Loans. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs ($) 11 service fee amount for the current reporting cycle as reported by the Servicer -- only applicable for Actual/Actual Loans. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or dollar signs ($) 11 prepays on his loan as reported by the Servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan 2 No commas(,) or dollar signs ($) 11 waived by the servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10 Modification for the loan. -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- MOD_TYPE The Modification Type. Varchar - value can be alpha or 30 numeric -------------------------- ---------------------------------------------- --------- ------------------------------------ --------- DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs ($) 11 interest advances made by Servicer. -------------------------- ---------------------------------------------- --------- ------------------------------------ ---------