Event of Servicing Default definition

Event of Servicing Default has the meaning specified in Article V of the Servicing Agreement.
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Event of Servicing Default means an event specified in paragraph VI of the Servicing Agreement.
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Event of Servicing Default shall have the meaning set forth in Section 5.01 of this Servicing Agreement.
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Examples of Event of Servicing Default in a sentence

  • Upon any such waiver of an Event of Servicing Default, such default shall cease to exist, and any default arising therefrom shall be deemed to have been remedied for every purpose of this Servicing Agreement.

  • In the event of termination of the Servicer due to an Event of Servicing Default under the Servicing Agreement, a Successor Servicer which is an Eligible Servicer selected by the Note Insurer shall assume the duties and responsibilities of the Servicer under the procedures specified in the Servicing Agreement.

  • Upon discovery of the occurrence of any Event of Servicing Default, after the applicable grace period set forth in the applicable subparagraphs of Section 5.01, the Servicer shall give written notice of the occurrence of an Event of Servicing Default to the Note Insurer or, if a Note Insurer Default has occurred and is continuing, to the Class A Noteholders.

  • The Indenture Trustee shall not be required to take notice of or be deemed to have notice or knowledge of any Event of Servicing Default, Event of Insolvency or Event of Default, unless specifically notified in writing at the address set forth in Section 14.04 or until a Responsible Officer shall have acquired actual knowledge of any Event of Servicing Default, Event of Insolvency or Event of Default.

  • The Backup Servicer shall promptly notify the Trustee of the occurrence of any Event of Backup Servicing Default or Event of Servicing Default of which it has obtained actual knowledge and any breach by the Backup Servicer or the Seller of any of its respective covenants or representations and warranties contained in this Agreement.

  • In addition, the Committee shall be authorized to cancel outstanding Options replaced with Awards having a lower exercise price without the prior approval of the stockholders of the Company.

  • In terms of the use of pulpwood for bioenergy production, it was observed that, in the REF scenario pulpwood will continue to be used for bioenergy purposes until 2055.

  • In addition to the right to terminate contained in Section VI, the Servicer agrees that upon the happening of any Event of Servicing Default (as defined herein), the Backup Servicer or the successor Servicer may avail itself of any other relief to which the Backup Servicer or the successor Servicer may be legally or equitably entitled, subject only to the provision of Section XIII of this Servicing Agreement.

  • Without receipt by the Trustee of written notice from the Servicer of such merger, consolidation or succession at least thirty days prior to such action by the Servicer and approval by the Majority Certificateholders of each Trust, which approval shall not be unreasonably withheld, such merger, consolidation or succession shall constitute an Event of Servicing Default with respect to the Servicer.

  • The Trustee shall give written notice to each Certificateholder promptly upon receipt of a notice from the Backup Servicer pursuant to Section 4.02 hereof or from the Servicer pursuant to paragraph IV.F.1 of the Servicing Agreement or the Seller pursuant to Section 8.06(g) hereof of an event which with the giving of notice or the lapse of time, or both, would constitute an Event of Backup Servicing Default or an Event of Servicing Default.

Related to Event of Servicing Default

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Servicer Default means an event specified in Section 8.01.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Funding Default as defined in Section 2.22.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Servicer Event of Termination One or more of the events described in Section 7.01.