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.

• The Custodian agrees to indemnify and hold the Purchaser, the Trustee, the Servicer and their respective employees, officers, directors and agents harmless against any and all direct 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 it or them in any way relating to or arising out of such Custodial Delivery Failure.

• Insurance of Collateral Agent; Custodial Delivery Failure; Indemnity by Collateral Agent..................................................................................83 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 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 has the meaning given in Section 13.1(b). “Custodial Documents” means the documents listed in Section 6.1(c).

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

Custodial Delivery Failure means the Custodian’s failure to produce, within five (5) Business Days of Custodian’s receipt of a Request for Release therefor or Lender’s written request or instruction related thereto, any Note payable or endorsed to Borrower and endorsed by Borrower in blank in an allonge, or any other document related to a Mortgage Loan that was in Custodian’s possession (as evidenced by Custodian’s previous delivery of a Custodian Loan Transmission and Trust Receipt) unless such failure was the result of Custodian having already released such document from its custody pursuant to a prior Request for Release.

Custodial Delivery Failure shall have arisen in the event that the Custodian fails to produce any Contract Delivery Document or any other document related to a Pledged Contract that was in the Custodian's possession pursuant to Section 2 and Section 3 within two (2) Business Days after delivery of a written request therefor by Lender in accordance with the terms and conditions of this Custodial Agreement and (i) the Custodian previously delivered to the Lender a Master Custodial Report and a Master Exception Report which did not list such document as an Exception and (ii) such document is not outstanding pursuant to a Release Request.

Custodial Delivery Failure. With respect to a Mortgage Note, Assignment of Mortgage or any other document ‎related to a Mortgage Loan that was in the Custodian’s possession pursuant to Section 2, as evidenced by the ‎Master Mortgage Loan Trust Receipt and current Custodian Loan Transmission and Exception ‎Report, (i) the Custodian fails to produce such document or documents within three (3) Business Days after having been required or requested to do so by Seller or Purchaser; provided, that such document or documents are not outstanding pursuant to and in accordance with a Request for Release under ‎this Agreement; or (ii) the Custodian produces such document or documents which are damaged or marked in such a way as to render it or them ‎unmarketable (as determined by the requesting party in its good faith discretion); provided, that such damage or making occurs while such document or documents were in the possession of the Custodian.