Accepted Servicing Practices

Example Definitions of "Accepted Servicing Practices"
Accepted Servicing Practices. The same meaning as the analogous definition set forth in the Pooling Agreement, except that the definition of such analogous term must provide, among other things, that the Master Servicer and Special Servicer shall service the Loan for the benefit of A-1 Lender and the A-2 Lender as a collective whole, taking into account that the A-1 Note is pari passu in right of payment with the A-2 Note.
Accepted Servicing Practices. With respect to any Mortgage Loan (including any related REO Property), each of those mortgage servicing practices (including collection procedures) of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located, which servicing practices (i) are in compliance with all federal, state and local laws and regulations, (ii) shall be in accordance with the Servicer's policies and... procedures as amended from time to time for mortgage loans of the same type, (iii) are in accordance with the terms of the related Mortgage and Mortgage Note and (iv) with respect to any Agency Mortgage Loan, are at a minimum based on the requirements set forth from time to time in the applicable Guide. View More
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