Applicable Servicer definition

Applicable Servicer means the Facility Servicer or the Portfolio Asset Servicer, as the context may require.

Applicable Servicer and similar terms shall mean the Servicer only with respect to the Mortgage Loans and Prepayment Charges on the applicable part of Schedule 1 and Schedule 2 attached hereto.

Applicable Servicer means, with respect to any Pool Receivable, the Person from time to time designated as the Servicer thereof pursuant to Section 4.1(a).

Examples of Applicable Servicer in a sentence

• The Applicable Servicer will not dispose of any documents constituting the Required Portfolio Documents and Portfolio Asset Files in any manner that is inconsistent with the performance of its obligations as the Applicable Servicer pursuant to this Agreement and will not dispose of any portion of the Collateral Portfolio except in each case, as contemplated by this Agreement or as is consistent with the Servicing Standard.

• Each Applicable Servicer agrees to cooperate with the Borrower in effecting the termination of the responsibilities and rights of each Applicable Servicer to conduct servicing of this Agreement (including the right to direct remittances out of the Collection Accounts).

• If such Applicable Servicer is the Facility Servicer, such Applicable Servicer shall be entitled to receive, to the extent of funds available therefor pursuant to Section 2.08, fees, amounts, expenses or indemnities it is entitled to pursuant to the provisions of this Agreement (collectively, the “Servicer Termination Expenses”).

• The Applicable Servicer has complied in all material respects with the Servicing Standard with regard to the servicing of the Portfolio Assets.

• All authority and power granted to an Applicable Servicer under this Agreement shall automatically cease and terminate on the Facility Termination Date and shall pass to and be vested in the Borrower thereafter.

More Definitions of Applicable Servicer

Applicable Servicer and similar terms shall mean the Servicer only with respect to the Mortgage Loans serviced by it.

Applicable Servicer means the Calculation Agent or the Portfolio Asset Servicer, as the context may require. "Applicable Spread" means 2.85%. "Asset Based Loan" means a term loan or revolving loan (or participation thereof) (a) ranking (and required by its terms to remain) (i) first in right of payment (unless, in the case of this clause (i), such loan is a First Lien Last Out Loan, in which case such loan may rank second in right of payment to the related Other Senior Loans) and (ii) secured by valid security interests or Liens in, to or on specified collateral securing the Obligor's obligations under the loan, which Liens are not (and which cannot by their terms become) subordinate in right of Lien priority to other Liens (other than to Liens customarily allowed to be prior in priority to the Liens of a first lien asset‐based lender and except that, in the case of this clause (ii), if such loan is a First Lien Last Out Loan, the provisions related to the application of proceeds thereof may require that proceeds of collateral be applied to the related Other Senior Loans prior to the application of such proceeds to such First Lien Last Out Loan) of the Obligor in respect thereof or any guarantor thereof, (b) availability under which (both at the time of the incurrence thereof and thereafter during the term of such loan) is restricted by a "borrowing base" or similar concept and (c) not constituting a Holding Company Loan.

Applicable Servicer means any Servicer as defined under the Senior Facility.

Applicable Servicer has the meaning set forth in Section 2.4 hereof.

Applicable Servicer. (i) From the Closing Date to, but not including, the Interim Servicing Transfer Date, the Interim Servicer, in its capacity as the servicer hereunder and (ii) on and after the Interim Servicing Transfer Date, (a) the Servicer, in its capacity as the servicer hereunder, if the Servicer Qualification Date has occurred on or before February 1, 2008 or (b) Xxxxx Fargo Bank, N.A., in its capacity as the servicer, if the Servicer Qualification Date has not occurred on or before February 1, 2008. In each case, Applicable Servicer shall also mean any successor servicer appointed as herein provided, in its capacity as the Applicable Servicer hereunder.

Applicable Servicer each Servicer" or "such Servicer", a mortgage loan servicing institution to which the Servicer has assigned servicing duties with respect to any Mortgage Loan under a Selling and Servicing Contract; provided, however, the Servicer may designate itself or one or more other mortgage loan servicing institutions as Servicer upon termination of an initial Servicer's servicing duties.

Applicable Servicer means, with respect to any Pool Receivable, the Person from time to time designated as the Servicer thereof pursuant to Section 4.1(a) .