Waiver of Past Servicer Defaults. The COLT 20 -SN Secured Noteholders may waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default 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.
Appears in 2 contracts
Samples: Servicing Agreement (Central Originating Lease Trust), Servicing Agreement (Central Originating Lease Trust)
Waiver of Past Servicer Defaults. The COLT 20 -SN 200_-_ Secured Noteholders may waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default 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.
Appears in 1 contract
Samples: Colt Servicing Agreement (Central Originating Lease Trust)
Waiver of Past Servicer Defaults. The COLT 20 -SN 2005-SN1 Secured Noteholders may waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default 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.
Appears in 1 contract
Samples: Sn1 Servicing Agreement (Capital Auto Receivables Asset Trust 2005-Sn1)
Waiver of Past Servicer Defaults. The COLT 20 -SN 200_-__ Secured Noteholders may waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default 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.
Appears in 1 contract
Samples: Servicing Agreement (Central Originating Lease Trust)
Waiver of Past Servicer Defaults. The COLT 20 -SN 2007-SN1 Secured Noteholders may waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default 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.
Appears in 1 contract
Samples: Sn1 Servicing Agreement (Capital Auto Receivables Asset Trust 2007-Sn1)
