Replacement Servicer definition

Replacement Servicer has the meaning assigned to that term in Section 6.01(c).

Replacement Servicer has the meaning assigned to such term in Section 11.01(c).

Replacement Servicer means a replacement servicer to perform some or all of the Services under this Agreement formerly performed by the Servicer, which is appointed in accordance with Section 10.03(c) of this Agreement.

Examples of Replacement Servicer in a sentence

• No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.

• The indemnification obligations of the Backup Servicer or Replacement Servicer upon becoming a Servicer, are expressly limited to those arising on account of its gross negligence or willful misconduct, or the failure to perform materially in accordance with its duties and obligations set forth in this Agreement.

• Documents and if not specified therein in the discretion of the Servicer or Replacement Servicer, as applicable, acting reasonably.

• In the event that the Servicer uses any software program in servicing the Collateral Portfolio that it licenses from a third party, the Servicer shall use its best efforts to obtain, either before the Closing Date or as soon as possible thereafter, whatever licenses or approvals are necessary to allow the Administrative Agent or the Servicer to use such program and to allow the Servicer to assign such licenses to the Replacement Servicer appointed as provided in this Agreement.

• The Borrower confirms that SMBC (so long as SMBC is the Collateral Agent, the Lender or the Replacement Servicer) or the Administrative Agent, each in its sole and absolute discretion, without regard to the value or performance of the Loan Assets or any other factor, may elect not to extend the Stated Maturity Date.

More Definitions of Replacement Servicer

Replacement Servicer means any Person appointed to replace the Servicer and to assume the obligations of Servicer under the Servicing Agreement.

Replacement Servicer has the meaning given to it in Section 3.3 of the Security Sharing Agreement;

Replacement Servicer means, at any time following a Servicer Transfer, the Person whom the Trust designates from time to time by written notice given to the Seller in accordance with Section 5.13 as the Replacement Servicer;

Replacement Servicer means a replacement servicer to perform some or all of the Services under the Servicing Agreement formerly performed by a Servicer appointed in accordance with Clause 2 of the Servicing Agreement; Representatives with respect to any Person means the officers, directors, employees, advisors and agents of such Person; Season means a period of certain months within a Year. For the purposes of this definition the months of January, February, March, April, May and June constitute a season and the months of July, August, September, October, November and December constitute a season.

Replacement Servicer means a replacement servicer to perform some or all of the Services under the Servicing Agreement formerly performed by the Servicer, appointed in accordance with Section 10.04(c) of the Servicing Agreement.

Replacement Servicer. Any Person appointed to be the “Investment Manager” following an Investment Manager Termination Event as provided in Section 6.8.

Replacement Servicer means a private credit servicer of nationally recognized standing currently servicing an asset portfolio substantially similar to the Collateral Assets hereunder in connection with a lending facility substantially similar to this Agreement for which the Administrative Agent or one of its Affiliates acts as lender or administrative agent.