Custodial Delivery Failure definition

Custodial Delivery Failure has the meaning set forth in Section 12.11.

Custodial Delivery Failure. With respect to any Custodian appointed hereunder, as defined in Section 6.21 hereof.

Custodial Delivery Failure shall have the meaning specified in Section 2.5 of the Custodial Agreement.

Examples of Custodial Delivery Failure in a sentence

• The Custodian agrees to indemnify and hold the Purchaser, the Trustee and the Master Servicer harmless against any and all direct liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements, including reasonable attorneys' fees, that may be imposed on, incurred by, or asserted against it or them directly relating to or arising out of such Custodial Delivery Failure.

• The Custodian agrees to indemnify and hold the Purchaser, the Trustee and the Master Servicer harmless against any and all direct liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements, including reasonable attorneys’ fees, that may be imposed on, incurred by, or asserted against it or them directly relating to or arising out of such Custodial Delivery Failure.

• The Custodian agrees to indemnify and hold the Purchaser and the Servicer and their respective designees, harmless against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements, including reasonable attorney’s fees, that may be imposed on, incurred by, or asserted against them in any way relating to or arising out of a Custodial Delivery Failure or the Custodian’s negligence, lack of good faith or willful misconduct.

• Neither the Custodian nor any of its affiliates, directors, officers, shareholders, agents or employees will be liable to the Collateral Manager, Borrower or any other Person, except by reason of acts or omissions by the Custodian constituting bad faith, willful misconduct, gross negligence or reckless disregard of the Custodian’s duties hereunder; provided that it is hereby expressly agreed that any Custodial Delivery Failure hereunder shall constitute gross negligence for purposes of this Section 12.16.

• Insurance of Collateral Agent; Custodial Delivery Failure; Indemnity by Collateral Agent.......................................................................86 Section 11.11.

More Definitions of Custodial Delivery Failure

Custodial Delivery Failure has the meaning set forth in Section 13.1(c) of the Custodial and Paying Agency Agreement.

Custodial Delivery Failure has the meaning given in Section 13.1(b). “Custodial Documents” means the documents listed in Section 6.1(c).

Custodial Delivery Failure means the failure by the Collateral Custodian to produce any document which constitutes a portion of any Portfolio Asset File that was in its possession pursuant to Article IX within one Business Day after required or requested by the Administrative Agent, the Portfolio Asset Servicer, the Facility Servicer or the Borrower in accordance with the provisions of this Agreement, and provided that (a) the Collateral Custodian previously delivered to the Administrative Agent, the Lenders and the Borrower a report pursuant to Section 9.02(a)(iv) that did not list such document as missing, (b) such document was held by the Collateral Custodian on behalf of the Borrower or the Administrative Agent, as applicable and (c) such document is not outstanding pursuant to a request for release pursuant to Section 9.08(a).

Custodial Delivery Failure. As defined in Section 11.10(b) of the Sale and Servicing Agreement.

Custodial Delivery Failure. As defined in Section 4.4 hereof.

Custodial Delivery Failure. As such term is defined in Section 19(c) herein.

Custodial Delivery Failure. The failure of the Custodian to produce a Mortgage Note, Assignment of Mortgage or any other document related to a Mortgage Loan that was in its possession pursuant to the Sale and Servicing Agreement within two (5) Business Days after the Custodian's receipt of a written request therefor by the Servicer, the Indenture Trustee or the Securities Administrator in accordance with the terms and conditions of the Sale and Servicing Agreement; provided that (i) the Custodian previously delivered to the Indenture Trustee, a trust receipt and an exception report which did not list such document as an exception; (ii) such document is not outstanding pursuant to a Request for Release, and (iii) such document was held by the Custodian on behalf of the Indenture Trustee.