Events of Default; Servicer and Special Servicer Termination Sample Clauses

Events of Default; Servicer and Special Servicer Termination. Section 7.02 Trustee to Act; Appointment of Successor..................... Section 7.03
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Events of Default; Servicer and Special Servicer Termination. (a) "Event of Default," wherever used herein, means any one of the following events:
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Events of Default; Servicer and Special Servicer Termination. 147 Section 7.02 Trustee to Act; Appointment of Successor.....................151 Section 7.03 Notification to Certificateholders...........................152 Section 7.04 Waiver of Events of Default..................................153 Section 7.05 Trustee as Maker of Advances.................................153 ARTICLE VIII
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Events of Default; Servicer and Special Servicer Termination. 156 Section 7.02 Trustee to Act; Appointment of Successor.......................159 Section 7.03 Notification to Certificateholders.............................161 Section 7.04 Waiver of Events of Default....................................161 Section 7.05 Trustee and Fiscal Agent as Makers of Advances.................162 ARTICLE VIII CONCERNING THE TRUSTEE AND FISCAL AGENT Section 8.01 Duties of Trustee..............................................163 Section 8.02 Certain Matters Affecting the Trustee..........................164 Section 8.03 Trustee and Fiscal Agent Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans..................165 Section 8.04 Trustee and Fiscal Agent May Own Certificates..................166 Section 8.05 Fees and Expenses of Trustee; Indemnification of Trustee and Fiscal Agent......................................166 Section 8.06 Eligibility Requirements for Trustee...........................167 Section 8.07 Resignation and Removal of the Trustee and the Fiscal Agent..........................................................167 Section 8.08 Successor Trustee and Fiscal Agent.............................169 Section 8.09 Merger or Consolidation of Trustee or Fiscal Agent.............170 Section 8.10 Appointment of Co-Trustee or Separate Trustee..................170 Section 8.11 Appointment of Custodians......................................171 Section 8.12 Access to Certain Information..................................171 Section 8.13 Representations and Warranties of the Trustee and the Fiscal Agent...................................................174
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Related to Events of Default; Servicer and Special Servicer Termination

  • Master Servicer Events of Default Each of the following shall constitute a "Master Servicer Event of Default":

  • Servicer Events of Default (a) The following events shall each constitute a "Servicer Event of Default" hereunder:

  • Master Servicer Events of Termination (a) If any one of the following events ("Master Servicer Events of Termination") shall occur and be continuing:

  • Waiver of Master Servicer Events of Default Subject to Section 11.09(d), the Holders representing at least 66% of the Voting Rights evidenced by all Classes of Certificates affected by any default or Master Servicer Event of Default hereunder may waive such default or Master Servicer Event of Default; provided, however, that a default or Master Servicer Event of Default under clause (i) or (vi) of Section 7.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of a default or Master Servicer Event of Default, such default or Master Servicer Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Master Servicer Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Servicer Event of Default Any one of the conditions or circumstances enumerated in Section 4.07 with respect to the Servicer.

  • Servicer Termination (a) Following the occurrence of any of the events set forth in Section 19.2.1, the Trustee may elect, at its reasonable discretion, to terminate the Servicer under this Agreement with respect to the Mortgage Loans. The Trustee shall provide a written termination notice to the Servicer.

  • Servicer Termination Events The following events will each be a “Servicer Termination Event”:

  • Waiver of Past Servicer Termination Events and Operating Advisor Termination Events; Termination The Holders of Certificates evidencing not less than 66-2/3% of the aggregate Voting Rights of the Certificates (and, if such Servicer Termination Event is on the part of a Special Servicer, with respect to the related Serviced Loan Combination only, by each affected Serviced Companion Loan Holder) may, on behalf of all Holders of Certificates, waive any Servicer Termination Event on the part of the Master Servicer, Special Servicer or any Operating Advisor Termination Event on the part of the Operating Advisor in the performance of its obligations hereunder and its consequences, except a Servicer Termination Event in connection with making any required deposits (including, with respect to the Master Servicer, P&I Advances) to or payments from the Collection Account, a Loan Combination Custodial Account or the Lower-Tier REMIC Distribution Account or in remitting payments as received, in each case in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Termination Event or Operating Advisor Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon. Any costs and expenses incurred by the Certificate Administrator in connection with such default and prior to such waiver shall be reimbursed by the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, promptly upon demand therefor and if not reimbursed to the Certificate Administrator within 90 days of such demand, from the Trust Fund; provided that the Trust Fund shall be reimbursed by the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, to the extent such amounts are reimbursed to the Certificate Administrator from the Trust Fund. Notwithstanding the foregoing, (a) a Servicer Termination Event under any of Section 7.01(a)(i) and Section 7.01(a)(ii) of this Agreement may be waived only by all of the Certificateholders of the affected Classes (considering each Class of the Class A-S, Class B and Class C Certificates together with the Class EC Component of the same alphabetical designation as a single “Class” for such purpose), and (b) a Servicer Termination Event under Section 7.01(a)(x) of this Agreement may be waived only with the consent of the Depositor, together with (in the case of each of clauses (a) and (b)) the consent of each Serviced Companion Loan Holder, if any, that is affected by such Servicer Termination Event.

  • Appointment of Special Servicer; Asset Status Reports (a) Midland Loan Services, a Division of PNC Bank, National Association is hereby appointed as the initial Special Servicer to specially service each of the Mortgage Loans (other than the Outside Serviced Mortgage Loans) and each Serviced Loan Combination.

  • Servicer Termination Event For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”:

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