Master Servicer Default. The occurrence of any one or more of the following events shall constitute a “Master Servicer Default”:
Master Servicer Default. Each of the following constitutes a "
Master Servicer Default. 57 SECTION 7.2. Appointment of Successor......................................................... 58 -ii- 4 SECTION 7.3. Payment of Servicing Fee......................................................... 59 SECTION 7.4. Notification to Noteholders and Certificateholders............................... 59 SECTION 7.5. Waiver of Past Defaults.......................................................... 59
Master Servicer Default. In the event that the Master Servicer fails to observe or perform in any material respect any of its obligations under this Agreement, which failure continues unremedied for a period of 30 days after the date on which written notice of such failure requiring the same to be remedied shall have been given to the Master Servicer (each, a "Master Servicer Default") by (i) the Indenture Trustee, at the direction of the Note Insurer (unless the Indenture Trustee and the Master Servicer are at that time one and the same Person), (ii) by the Note Insurer, or (iii) by the Indenture Trustee in the event a Note Insurer Default has occurred and is continuing, unless the Indenture Trustee and the Master Servicer are one and the same Person, in which case the notice may be given by the percentage of Noteholders entitled to act in the case of an Event of Default under the Indenture. If such Master Servicer Default shall not have been remedied by the Master Servicer, either the Note Insurer or the Indenture Trustee (unless the Indenture Trustee and the Master Servicer are at that time one and the same Person), at the direction of the Note Insurer, or the Indenture Trustee in the event a Note Insurer Default exists and is continuing (or, if at such time the Indenture Trustee and the Master Servicer are one and the same Person, by the percentage of Noteholders entitled to act in the case of an Event of Default under the Indenture), by notice given in writing to the Master Servicer with a copy to the Note Insurer or the Indenture Trustee, as applicable, may terminate all of the rights, responsibilities and obligations of the Master Servicer under this Agreement (except its rights to indemnification by the Servicer under this Agreement and any other rights accruing to the Master Servicer prior to the date of termination). On or after the receipt by the Master Servicer of such written notice, unless a successor Master Servicer acceptable to the Note Insurer (so long as no Note Insurer Default then exists) shall have been appointed, the Indenture Trustee (unless it and the Master Servicer are one and the same Person) shall assume the rights and obligations of the Master Servicer hereunder. Upon the occurrence of a Master Servicer Default, a successor Master Servicer acceptable to the Note Insurer (unless a Note Insurer Default then exists) shall be appointed (i) by the Indenture Trustee (so long as it is not also the Master Servicer), (ii) if the Indenture Trustee and the Maste...
Master Servicer Default. 29 Section 3.06. Merger or Consolidation of Master Servicer...............................................30 Section 3.07.
Master Servicer Default. (a) Any one of the following events shall constitute a "Master Servicer Default" with respect to the Master Servicer acting in its capacity as Master Servicer hereunder and in its capacity as successor Servicer hereunder (unless specifically stated otherwise):
Master Servicer Default. 10 SECTION 11.
Master Servicer Default. 66 Section 7.01. Events of Default........................................................................66 Section 7.02. Trustee to Act; Appointment of Successor.................................................68 Section 7.03.
Master Servicer Default. 76 SECTION 6.5 Responsibilities of the Pledgors and the Seller..................................... 77 SECTION 6.6 Limitation on Liability of the Master Servicer and Others........................ 77 SECTION 6.7 The Master Servicer Not to Resign.................... 77 SECTION 6.8
Master Servicer Default. 98 SECTION 8.03
