Common use of Waiver of Servicer Event of Default Clause in Contracts

Waiver of Servicer Event of Default. The Person(s) entitled to remove the Servicer pursuant to Sections 8.01, 8.02 or 8.03 may waive any related Servicer Event of Default, as the case may be, and its consequences. Upon any such waiver, the applicable Servicer Event of Default will cease to exist, and will be deemed to have been remedied for every purpose of this Agreement. No such waiver will extend to any subsequent or other event or impair any right consequent thereon.

Waiver of Servicer Event of Default. The Person(s) entitled to remove the Servicer pursuant to Sections 8.01Section 8.1, 8.02 Section 8.2 or 8.03 Section 8.3 may waive any related Servicer Event of DefaultDefault except failure to make required deposits or payments from any of the applicable bank accounts, as the case may be, and its consequences. Upon any such waiver, the applicable Servicer Event of Default will cease to exist, and will be deemed to have been remedied for every purpose of this Agreement. No such waiver will extend to any subsequent or other event or impair any right consequent thereon.