Waiver of Past Servicer Termination Events. The Majority Holders may, on behalf of all Holders of Certificates, waive any Servicer Termination Event hereunder and its consequences, except an event resulting from the failure to make any required deposits or payments to the Collection Account in accordance with this Agreement. Upon any such waiver of a past Servicer Termination Event, such event shall cease to exist and shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right arising therefrom, except to the extent expressly so waived.
Appears in 16 contracts
Samples: Pooling and Servicing Agreement (Usaa Acceptance LLC), Pooling and Servicing Agreement (Citizens Auto Receivables, LLC), Pooling and Servicing Agreement (Bas Securitization LLC)
