The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.
Appears in 32 contracts
Samples: Loan and Servicing Agreement (SLR Investment Corp.), Loan and Servicing Agreement (SLR Investment Corp.), Loan and Servicing Agreement (SLR Senior Investment Corp.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Borrower and the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance according with Section 6.02the terms of this Agreement.
Appears in 24 contracts
Samples: Credit Agreement (Gladstone Investment Corporation\de), Credit Agreement (Gladstone Investment Corporation\de), Credit Agreement (Gladstone Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 16 contracts
Samples: Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 11 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.
Appears in 10 contracts
Samples: Loan and Servicing Agreement (Ares Capital Corp), Loan and Servicing Agreement (Ares Capital Corp), Loan and Servicing Agreement (Ares Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 9 contracts
Samples: Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.01(c).
Appears in 7 contracts
Samples: Credit and Security Agreement (Blackstone Secured Lending Fund), Credit and Security Agreement (Blackstone Secured Lending Fund), Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. 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.
Appears in 7 contracts
Samples: Loan and Servicing Agreement (Diameter Credit Co), Loan and Servicing Agreement (Overland Advantage), Loan and Servicing Agreement (Oaktree Strategic Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.
Appears in 7 contracts
Samples: Loan and Servicing Agreement (FS KKR Capital Corp), Loan and Servicing Agreement (FS KKR Capital Corp), Loan and Servicing Agreement (FS KKR Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Lenders, the Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 7 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion or memorandum of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.01(c).
Appears in 7 contracts
Samples: Credit and Security Agreement (T Series Middle Market Loan Fund LLC), Credit and Security Agreement (Morgan Stanley Direct Lending Fund), Credit and Security Agreement (Morgan Stanley Direct Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Deal Agent, the Collateral Agent, the Lenders and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 6 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.
Appears in 5 contracts
Samples: Loan and Servicing Agreement (BlackRock TCP Capital Corp.), Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.), Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Borrower and the Administrative Agent and each Lender Agent. No To the extent permissible and in accordance with Applicable Law, no such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02the terms of this Agreement.
Appears in 5 contracts
Samples: Credit Agreement (Trinity Capital Inc.), Credit Agreement (Trinity Capital Inc.), Credit Agreement (Trinity Capital Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. 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.
Appears in 4 contracts
Samples: Loan and Servicing Agreement (Onex Direct Lending BDC Fund), Loan and Servicing Agreement (Fifth Street Finance Corp.), Loan and Servicing Agreement (Fifth Street Finance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Resource America Inc), Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (American Business Financial Services Inc /De/)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender the Collateral Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 4 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Borrower and the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer successor shall have assumed the responsibilities and obligations of the Servicer in accordance according with Section 6.02the terms of this Agreement.
Appears in 4 contracts
Samples: Loan and Servicing Agreement (Prospect Capital Corp), Credit Agreement (Gladstone Capital Corp), Credit Agreement (Gladstone Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it such Person except upon the Servicersuch Person’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer such Person could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Borrower and each Lender the Agent. No such resignation shall become effective until a Replacement Servicer successor shall have assumed the responsibilities and obligations of the Servicer such Person in accordance with Section 6.02the terms of this Agreement.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Hercules Capital, Inc.), Sale and Servicing Agreement (Hercules Capital, Inc.), Sale and Servicing Agreement (Hercules Capital, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02Lender.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (Barings Private Credit Corp), Credit and Security Agreement (Blackstone Private Credit Fund), Credit and Security Agreement (Barings Private Credit Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 3 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corporation), Loan and Security Agreement (Credit Acceptance Corporation), Loan and Security Agreement (Credit Acceptance Corporation)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. 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.
Appears in 3 contracts
Samples: Loan and Servicing Agreement (AG Twin Brook Capital Income Fund), Loan and Servicing Agreement (AGTB Private BDC), Loan and Servicing Agreement (AGTB Private BDC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause based on advise of counsel (i) above by an Opinion a copy of Counsel to such effect which shall be delivered to the Administrative Agent and each Lender Agent). 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.
Appears in 3 contracts
Samples: Loan and Servicing Agreement (Oaktree Strategic Credit Fund), Loan and Servicing Agreement (Oaktree Strategic Credit Fund), Loan and Servicing Agreement (Oaktree Strategic Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Trustee and Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s good faith determination in consultation with legal counsel that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any In connection with any such determination permitting the resignation of the Servicer, the Servicer shall be evidenced as deliver to clause (i) above by an Opinion the Facility Agent and the Borrower a description of Counsel the circumstances giving rise to such effect delivered to the Administrative Agent and each Lender Agentdetermination. 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.
Appears in 2 contracts
Samples: Loan and Security Agreement (North Haven Private Income Fund LLC), Loan and Security Agreement (North Haven Private Income Fund LLC)
The Servicer Not to Resign. The initial Servicer shall not resign from the obligations and duties hereby imposed on it except upon the initial Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation of the Servicer shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.16.
Appears in 2 contracts
Samples: Note Purchase Agreement (NewStar Financial, Inc.), Note Purchase Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Lenders, the Deal Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 2 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 2 contracts
Samples: Loan and Servicing Agreement (North Haven Private Income Fund LLC), Loan and Servicing Agreement (North Haven Private Income Fund LLC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Trustee. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 2 contracts
Samples: Secured Loan and Servicing Agreement (NewStar Financial, Inc.), Secured Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.6.2. 106
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause based on advice of counsel (i) above by an Opinion a summary of Counsel to such effect which shall be delivered to the Administrative Agent and each Lender Agent). 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.
Appears in 2 contracts
Samples: Loan and Servicing Agreement (Oaktree Strategic Credit Fund), Loan and Servicing Agreement (Oaktree Strategic Credit Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.. 139
Appears in 1 contract
Samples: Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the its performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the its performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as by an Opinion of Counsel with respect to clause (i) above by an Opinion of Counsel to such effect above, delivered to the Administrative Agent and each Lender AgentTrustee. No such resignation shall become effective until the Trustee or a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the resigning Servicer in accordance with Section 6.02.100
Appears in 1 contract
Samples: Master Trust Indenture and Security Agreement (Sirrom Capital Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel a certificate to such effect delivered to the Borrower, the Administrative Agent and each Lender Managing Agent. No To the extent permissible and in accordance with Applicable Law, no such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance according with Section 6.02the terms of this Agreement.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that the Servicer could take which can be taken to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (i) above hereof shall be evidenced by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Collateral Agent. No such resignation shall become be effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.02 hereof.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. 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.effective
Appears in 1 contract
Samples: Loan and Servicing Agreement (Fifth Street Finance Corp.)
The Servicer Not to Resign. The Servicer Servicer, so long as it shall be an Affiliate of the Borrower, shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s its determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer it could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Borrower and the Administrative Agent and each Lender Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance according with Section 6.02the terms of this Agreement.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the ServicerService’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.
Appears in 1 contract
Samples: Loan and Servicing Agreement (GOLUB CAPITAL BDC, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that the Servicer could take which can be taken to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (i) above hereof shall be evidenced by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Collateral Agent. No such resignation shall become be effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0210.02 hereof.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
Samples: Loan Certificate and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any 112 such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, the Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
Samples: Certificate and Servicing Agreement (Capitalsource Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.11.01(c). 108
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. 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.. 152 |US-DOCS\148390876.14||
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could 112 take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.6.2. 108
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Deal Agent, the Collateral Agent, the Backup Servicer and each Lender AgentRFC. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 1 contract
Samples: Loan and Security Agreement (Credit Acceptance Corporation)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.. -104-
Appears in 1 contract
Samples: Loan and Servicing Agreement (Business Development Corp of America)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Lender Agent and each Lender Agentthe Trustee. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2 and Section 6.19.
Appears in 1 contract
Samples: Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Administrator and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Fidelity Leasing Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and Agent, each Lender Agentand the Trustee. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2 and Section 6.19.
Appears in 1 contract
Samples: Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Subject to Section 6.23, the Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Deal Agent. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.26.
Appears in 1 contract
Samples: Loan Funding and Servicing Agreement (Healthcare Financial Partners Inc)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion or memorandum of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.11.01(c). ARTICLE XVIII
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Morgan Stanley Direct Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (ia) above shall be made by an Opinion written advice of Counsel to such effect delivered to the Administrative Agent and each Lender Agentcounsel. 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.
Appears in 1 contract
Samples: Loan and Servicing Agreement (Apollo Debt Solutions BDC)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) 117 above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Purchaser Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
The Servicer Not to Resign. The Except as specifically -------------------------- authorized pursuant to Section 6.02 above, the Servicer shall not resign from the obligations and duties hereby imposed on it it, except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is are no reasonable action that the Servicer could take to make the performance of its duties hereunder longer permissible under Applicable Lawapplicable law or are in material conflict by reason of applicable law with any other activities carried on by it. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender AgentTrustee. No such resignation shall become effective until the Trustee or a Replacement Servicer successor servicer shall have assumed the Servicer's responsibilities and obligations of the Servicer in accordance with Section 6.027.05 hereof.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ba Mortgage Securities Inc/)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.6.2. 113
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it such Person except upon the Servicersuch Person’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer such Person could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Buyer and each Lender the Agent. No such resignation shall become effective until a Replacement Servicer successor shall have assumed the responsibilities and obligations of the Servicer such Person in accordance with Section 6.02the terms of the Loan Agreement and this Agreement.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Horizon Technology Finance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible no longer permissible under Applicable Law applicable law and (ii) there is no reasonable action that the Servicer could take which can be taken to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as pursuant to clause (i) above hereof shall be evidenced by an Opinion opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. No Unless otherwise required by applicable law, no such resignation shall become be effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.028.02 hereof.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it such Person except upon the Servicersuch Person’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer such Person could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent Buyer and each Lender the Agent. No such resignation shall become effective until a Replacement Servicer successor shall have assumed the responsibilities and obligations of the Servicer such Person in accordance with Section 6.02the terms of this Agreement.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Horizon Technology Finance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Agent and each Lender Agent. 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.. 115
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it hereunder except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent, each Managing Agent, the Collateral Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.12.
Appears in 1 contract
Samples: Loan and Security Agreement (Credit Acceptance Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect USActive 51774144.2053776213.6-117- delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.0211.01(c).
Appears in 1 contract
Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s 's determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (iib) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.11.01(c). USActive 53852035.1153852035.14.docx -126-
Appears in 1 contract
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion of Counsel to such effect delivered to the Administrative Agent, each Lender Agent and each Lender Agentthe Trustee and Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.2.
Appears in 1 contract
Samples: Loan and Servicing Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s good faith determination in consultation with legal counsel that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (ii) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any In connection with any such determination permitting the resignation of the Servicer, the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered deliver to the Administrative Agent and each Lender Agenta description of the circumstances giving rise to such determination. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.13.
Appears in 1 contract
Samples: Loan and Security Agreement (NewStar Financial, Inc.)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (ia) the performance of its duties hereunder is or becomes impermissible under Applicable Law and (iib) there is no reasonable action that the Servicer could take to make the performance of its duties hereunder permissible under Applicable Law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (ia) above by an Opinion opinion of Counsel counsel to such effect delivered to the Administrative Agent and each Lender AgentLender. No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.02.11.01(c). 121
Appears in 1 contract
Samples: Purchase and Sale Agreement (Pennantpark Investment Corp)
The Servicer Not to Resign. The Servicer shall not resign from the obligations and duties hereby imposed on it except upon the Servicer’s determination that (i) the performance of its duties hereunder is or becomes impermissible under Applicable Law applicable law and (ii) there is no reasonable action that which the Servicer could take to make the performance of its duties hereunder permissible under Applicable Lawapplicable law. Any such determination permitting the resignation of the Servicer shall be evidenced as to clause (i) above by an Opinion of Counsel to such effect delivered to the Administrative Deal Agent and each Lender Agentthe Backup Servicer. No such resignation shall become effective until a Replacement Successor Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 6.026.25.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Bankvest Capital Corp)