Collateral Custodian Termination Notice definition

Collateral Custodian Termination Notice has the meaning assigned to that term in Section 12.05.
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Collateral Custodian Termination Notice. Defined in Section 8.5.
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Collateral Custodian Termination Notice is defined in Section 14.
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Examples of Collateral Custodian Termination Notice in a sentence

  • Upon the Collateral Custodian’s receipt of a Collateral Custodian Termination Notice from the Administrative Agent of the designation of a successor Collateral Custodian pursuant to the provisions of Section 7.5, the Collateral Custodian agrees that it will terminate its activities as Collateral Custodian hereunder.


More Definitions of Collateral Custodian Termination Notice

Collateral Custodian Termination Notice shall have the meaning set forth in Section 5(e).
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Collateral Custodian Termination Notice. The meaning specified in Section 7.5. [FS Investment] Loan and Security Agreement
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Collateral Custodian Termination Notice. The meaning specified in Section 7.5. “Collateral Manager”: The meaning specified in the Preamble. “Collateral Manager Default”: The occurrence of any one or more of the following: (a) the Collateral Manager in bad faith willfully violates, or takes any action that it knows breaches, any material provision of any Transaction Document applicable to it (other than a willful and intentional breach that results from a good faith dispute regarding reasonable alternative courses of action or interpretation of instructions); (b) the Collateral Manager fails to observe or perform any covenant or agreement applicable to it in any Transaction Document which has a material adverse effect on the Lenders (it being understood and agreed that the Collateral Manager shall have no responsibility for the creditworthiness or continuing eligibility of any Eligible Loan) and such failure continues unremedied for a period of 30 days (if such failure can be remedied) after the earlier to occur of (A) a Responsible Officer of the Collateral Manager’s actual knowledge of such failure or (B) its receipt of written notice of such failure; (c) any representation, warranty or certification made by the Collateral Manager in any Transaction Document or in any certificate delivered pursuant to any Transaction Document shall prove to have been incorrect when made, which has a material adverse effect on any Lender, the Collateral Custodian or the Administrative Agent and which continues to be unremedied for a period of thirty (30) days after the earlier to occur of (A) a Responsible Officer of the Collateral Manager’s actual knowledge of such failure or (B) its receipt of written notice of such failure; (d) the occurrence of an Event of Default that results primarily from any material breach by the Collateral Manager of its duties under the Transaction Documents and which continues to be unremedied for a period of ten (10) Business Days; (e) the Collateral Manager fails to maintain at least $3,000,000,000 of assets under its management; (f) New Mountain Finance Advisers BDC, L.L.C. (or an Affiliate thereof) ceases to be the Collateral Manager unless it is removed pursuant to Section 6.11; (g) an Insolvency Event shall occur with respect to the Collateral Manager; (h)
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Collateral Custodian Termination Notice has the meaning assigned to that term in Section 11.05. “Collateral Management Fees” means a fee equal to the product of (i) 0.25%, (ii) the aggregate outstanding principal balance of the Collateral Assets included in the Collateral
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Collateral Custodian Termination Notice has the meaning assigned to that term in Section 11.05. “Collateral Management Fees” means a fee equal to the product of (i) 0.25%, (ii) the aggregate outstanding principal balance of the Collateral Assets included in the Collateral Portfolio and (iii) the actual number of days in such Collection Period divided by 360, payable quarterly in arrears on each Payment Date. “Collateral Manager” means at any time the Person then authorized, pursuant to Section 6.01, to service, administer, and collect on the Collateral Assets and exercise rights and remedies in respect of the same. “Collateral Manager Advance Date Report” has the meaning assigned to that term in Section 6.08(d). “Collateral Manager’s Certificate” has the meaning assigned to that term in Section 6.08(e). “Collateral Manager Report” has the meaning assigned to that term in Section 6.08(c). “Collateral Manager Standard” means, with respect to any Collateral Assets included in the Collateral Portfolio, to service and administer such Collateral Assets on behalf of the Secured Parties in accordance with Applicable Law, the terms of this Agreement, the Underlying Instruments, all customary and usual servicing practices for loans like the Collateral Assets and, to the extent consistent with the foregoing, (i) with reasonable care, using a degree of skill and diligence not less than that with which the Collateral Manager services and administers loans for its own account or for the account of its Affiliates having similar lending objectives and restrictions, and (ii) to the extent not inconsistent with clause (i), in a manner consistent with the customary and usual servicing practices, standards, policies and procedures USActive 60058040.860058040.11 -20-
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Collateral Custodian Termination Notice has the meaning assigned to that term in Section 9.05. "Collection Accounts" means, collectively, each of the Principal Collection Accounts and the Interest Collection Accounts established with the Account Bank in the name of the Borrower into which Collections shall be deposited in accordance with the terms of this Agreement and subject to the Account Control Agreement specified on Schedule V hereto and under the "control" (within the meaning of Section 9‐104 or 9‐106 of the UCC, as applicable) of the Administrative Agent for the benefit of the Secured Parties; provided that, subject to the rights of the Administrative Agent hereunder with respect to funds, the funds deposited therein from time to time shall constitute the property and assets of the Borrower, and the Borrower shall be solely liable for any Taxes payable with respect to the Collection Accounts and each subaccount that may be established from time to time. "Collections" means Current Income Collections and Principal Collections. "Commitment" means, with respect to any Lender, (a) during the Revolving Period (i) with respect to the Initial Lender, the Maximum Facility Amount as such amount may be reallocated pursuant to Section 2.04(b), reduced pursuant to an Assignment and Assumption Agreement or Section 2.04(e) or increased pursuant to Section 2.15 and (ii) with respect to any other Lender, the amount set forth as such Lender's "Commitment" on the Assignment and Assumption Agreement relating to such Lender or increased pursuant to Section 2.15 and (b) after the end of the Revolving Period, such Xxxxxx's Pro Rata Share of the aggregate Advances Outstanding on the last day of the Revolving Period.
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Related to Collateral Custodian Termination Notice

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Collateral Custodian Xxxxx Fargo Bank, National Association, not in its individual capacity, but solely as Collateral Custodian, its successor in interest pursuant to Section 8.3 or such Person as shall have been appointed Collateral Custodian pursuant to Section 8.5.

  • Collateral Custodian Fee means the fee to be paid to the Collateral Custodian as set forth in the Custody Agreement.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Custodial Agreement An agreement that may be entered into among the Company, the Master Servicer, the Trustee and a Custodian pursuant to which the Custodian will hold certain documents relating to the Mortgage Loans on behalf of the Trustee. Custodian: A custodian appointed pursuant to a Custodial Agreement.

  • Servicer Notice As defined in Section 11.17.