Additional Servicer definition: Copy, customize, and use instantly
Introduction
The term "Additional Servicer" refers to an entity or individual appointed to assist in providing services related to the management of loans or other financial instruments. It is often used in the context of servicing agreements and is crucial for outlining responsibilities, delegation of tasks, and ensuring smooth operations in financial transactions.
Below are various examples of how "Additional Servicer" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Additional Servicer" as a party in loan servicing
An "Additional Servicer" is appointed to manage specific aspects of a loan servicing arrangement.
"Additional Servicer" means a party designated to provide specific services related to the servicing of loans, including but not limited to, collection of payments or maintenance of loan records.
Definition of "Additional Servicer" as part of a larger team
An "Additional Servicer" can be one of several entities involved in the management of financial assets.
"Additional Servicer" refers to an entity appointed to support the primary servicer in managing financial transactions and performing necessary servicing duties.
Definition of "Additional Servicer" in the context of mortgage servicing
An "Additional Servicer" may assist with servicing mortgages, including tasks like payment processing or handling customer inquiries.
"Additional Servicer" means an entity appointed to provide supplementary services in the management of mortgage loan portfolios, such as payment processing and borrower communication.
Definition of "Additional Servicer" for administrative purposes
In some contracts, an "Additional Servicer" is tasked with overseeing administrative responsibilities.
"Additional Servicer" refers to a party designated to perform administrative functions, such as maintaining records or ensuring compliance with servicing guidelines.
Definition of "Additional Servicer" for backup support
An "Additional Servicer" may be appointed to act as a backup for the primary servicer in case of operational challenges.
"Additional Servicer" means an entity designated to provide backup support and manage tasks in the event the primary servicer is unable to perform their duties.
Definition of "Additional Servicer" in structured finance
An "Additional Servicer" can be included in structured finance transactions to handle specific servicing tasks.
"Additional Servicer" refers to a party involved in structured finance transactions to manage specific aspects of loan servicing, such as collections, reporting, and borrower relations.
Definition of "Additional Servicer" for loan administration
An "Additional Servicer" may be responsible for managing specific aspects of loan administration, including balance updates or interest calculation.
"Additional Servicer" means a party appointed to manage specific duties in the administration of loans, such as calculating interest or updating loan balances.
Definition of "Additional Servicer" for asset management
In asset-backed securities transactions, an "Additional Servicer" may be appointed to assist with asset management and reporting.
"Additional Servicer" refers to an entity responsible for managing and reporting on assets underlying a security, often providing supplementary services to support the primary servicer.
Definition of "Additional Servicer" in the context of payments
An "Additional Servicer" may be designated to assist in the processing of payments or managing escrow accounts.
"Additional Servicer" means an entity appointed to handle payment processing or manage escrow accounts as part of the servicing agreement.
Definition of "Additional Servicer" for default management
An "Additional Servicer" can assist in managing defaults or late payments, including enforcement actions or renegotiations.
"Additional Servicer" refers to a party responsible for managing defaults, including handling late payments, enforcing loan terms, or renegotiating repayment plans.
Definition of "Additional Servicer" in multi-party servicing agreements
In multi-party servicing agreements, an "Additional Servicer" may be tasked with overseeing a specific subset of assets or responsibilities.
"Additional Servicer" means a party assigned to manage a portion of the assets or services within a multi-party servicing agreement, ensuring effective administration and compliance.
Definition of "Additional Servicer" in debt servicing
An "Additional Servicer" may assist with servicing debts, ensuring the timely collection of payments and maintaining accurate records.
"Additional Servicer" refers to an entity or individual responsible for servicing debts, including managing collections and ensuring compliance with contractual obligations.
Definition of "Additional Servicer "as a subcontracted entity
An "Additional Servicer" may be subcontracted to handle specific tasks within a broader servicing agreement.
"Additional Servicer" means a subcontracted entity tasked with handling particular services within a broader loan or financial instrument servicing agreement.
Definition of "Additional Servicer" in credit facilities
In credit facilities, an "Additional Servicer" may be appointed to assist with administrative or operational tasks related to the credit agreement.
"Additional Servicer" refers to a party that provides administrative or operational services in relation to a credit facility, supporting the primary servicer in their duties.
Definition of "Additional Servicer" for regulatory compliance
An "Additional Servicer" may be required to assist with ensuring regulatory compliance, such as preparing reports for regulatory agencies.
"Additional Servicer" means a party designated to help ensure compliance with regulatory requirements, such as preparing reports or overseeing regulatory audits.
Definition of "Additional Servicer" in loan workouts
An "Additional Servicer" may assist in workout situations, helping renegotiate loan terms or restructure repayment plans.
"Additional Servicer" refers to an entity that provides services related to loan workouts, including negotiating new terms or assisting in the restructuring of debts.
Definition of "Additional Servicer" in the context of collateral management
In some transactions, an "Additional Servicer" is responsible for managing collateral or ensuring collateral value is maintained.
"Additional Servicer" means an entity appointed to manage collateral associated with a loan or financial transaction, ensuring its value is maintained and properly reported.
Definition of "Additional Servicer" for reporting
An "Additional Servicer" may be tasked with providing periodic reports on loan or asset performance.
"Additional Servicer" refers to a party responsible for providing regular reports on the performance of loans or assets under servicing agreements.
Definition of "Additional Servicer" in credit risk management
An "Additional Servicer" may be appointed to monitor and manage credit risks, including identifying potential defaults or financial distress.
"Additional Servicer" means an entity responsible for managing credit risks related to serviced loans, including monitoring borrower performance and identifying potential defaults.
Definition of "Additional Servicer" in real estate servicing
An "Additional Servicer" may be designated to handle real estate-specific servicing tasks, such as property management or compliance with real estate laws.
"Additional Servicer" refers to a party responsible for servicing real estate assets, including tasks like property management and compliance with applicable real estate regulations.
Definition of "Additional Servicer" for investor communication
An "Additional Servicer" may assist in maintaining communication with investors, providing updates on loan performance and portfolio health.
"Additional Servicer" means a party appointed to communicate with investors, ensuring they receive regular updates on the performance of the serviced loans or financial instruments.
Definition of "Additional Servicer" in the context of financial reporting
An "Additional Servicer" may be tasked with preparing and submitting financial reports related to serviced loans or assets.
"Additional Servicer" refers to a party designated to prepare and submit financial reports related to serviced loans, ensuring transparency and accurate financial reporting.
Definition of "Additional Servicer" for cross-border transactions
An "Additional Servicer" may assist in cross-border transactions, handling specific services that comply with international regulations.
"Additional Servicer" means a party responsible for providing services related to cross-border transactions, ensuring compliance with international regulations and standards.
Definition of "Additional Servicer" in servicing portfolios
An "Additional Servicer" may be appointed to manage a specific portfolio of loans or assets, ensuring effective servicing and risk management.
"Additional Servicer" refers to an entity assigned to manage a particular loan or asset portfolio, ensuring effective servicing and risk management practices.
Definition of "Additional Servicer" for operational efficiency
An "Additional Servicer" can improve operational efficiency by handling specific tasks that streamline the servicing process.
"Additional Servicer" means a party tasked with performing specific functions that enhance the operational efficiency of the servicing process, reducing bottlenecks and improving performance.
Definition of "Additional Servicer" in securitization transactions
In securitization deals, an "Additional Servicer" may assist in managing the underlying assets and servicing obligations.
"Additional Servicer" refers to an entity designated to provide services related to the underlying assets in a securitization transaction, ensuring proper servicing and reporting.
Definition of "Additional Servicer" for loan modifications
An "Additional Servicer" may assist in loan modifications, including restructuring terms or adjusting interest rates.
"Additional Servicer" means a party designated to assist in modifying loan terms, including restructuring loans or adjusting interest rates as part of a servicing agreement.
Definition of "Additional Servicer" for fee management
An "Additional Servicer" may be appointed to manage fees related to the servicing of loans or financial assets.
"Additional Servicer" refers to an entity responsible for managing and collecting fees associated with the servicing of loans or financial assets under the servicing agreement.
Definition of "Additional Servicer" in the context of distressed assets
An "Additional Servicer" may be appointed to manage distressed assets, including overseeing asset recovery or liquidation.
"Additional Servicer" means a party responsible for managing distressed assets, including tasks related to asset recovery or liquidation to maximize returns.
Definition of "Additional Servicer" in the context of debt restructuring
An "Additional Servicer" may assist in debt restructuring processes, helping renegotiate terms or manage the restructuring of financial obligations.
"Additional Servicer" refers to an entity appointed to assist with debt restructuring, including renegotiating terms or overseeing the adjustment of financial obligations.
Definition of "Additional Servicer" for compliance with servicing standards
An additional servicer may be designated to ensure compliance with industry standards and regulations related to loan servicing.
"Additional Servicer" means an entity appointed to monitor and ensure that servicing activities comply with applicable industry standards and regulations.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.