Republic Acts1 min read
Section 23Sec./Art. 23
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Extent of Authority. - The Servicer shall have such authority as is expressly stated in the servicing agreement and unless otherwise specifically provided therein, such authority shall encompass the general powers of administration. The Servicer shall have no authority to waive penalties and charges except with the written authority from the Board of SPE, the trustee or the interim representative, should one be appointed
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