Examples of Fairbanks Performance Evaluation in a sentence
After receipt by the Certificateholders of the results of the Fairbanks Performance Evaluation, if Holders of the Certificates entitled to 51% or more of the Voting Rights request in writing to the Trustee to terminate Fairbanks as Servicer under this Agreement, Fairbanks shall be removed as Servicer pursuant to Section 7.01.
At their option, each Rating Agency shall have the right to review all of the information provided to the independent auditor in connection with a Fairbanks Performance Evaluation so as to allow such Rating Agency to evaluate Fairbanks’ compliance with the Performance Standards.
Fairbanks shall cooperate with all reasonable requests of the Trustee, the independent auditor and the Rating Agencies in connection with a Fairbanks Performance Evaluation, including, without limitation, making available to the auditor payment histories, documentation relating to the Fairbanks’ contacts with the related Mortgagors and documents contained in the related Mortgage Loan Schedule.
If such a written request is made to the Trustee, Fairbanks will be deemed to have “failed” the Fairbanks Performance Evaluation and such failure will be deemed to be a failure of the Fairbanks Termination Test.
In the engagement, the Trustee shall require the auditor to deliver the results of its Fairbanks Performance Evaluation to the Trustee and the Rating Agencies and the Trustee shall report such Fairbanks Performance Evaluation results to Certificateholders in its monthly statement, made pursuant to Section 4.04.
Fairbanks shall pay all costs and expenses of the independent auditor or any Rating Agency (including the costs of any Rating Agency review pursuant to the foregoing paragraph) associated with a Fairbanks Performance Evaluation.
The evaluation process described above in this Section 3.23 is referred to herein as a "Fairbanks Performance Evaluation" and is subject in all respects to the approval of the Rating Agencies with such approval right the option of each Rating Agency.
If such a written request is made to the Trustee, Fairbanks will be deemed to have "failed" the Fairbanks Performance Evaluation and such failure will be deemed to be a failure of the Fairbanks Termination Test.
In the engagement, the Trustee shall require the auditor to deliver the results of its Fairbanks Performance Evaluation to Fairbanks, the Trustee and the Rating Agencies within 60 days after the commencement of the Fairbanks Performance Evaluation and the Trustee shall report such Fairbanks Performance Evaluation results to Certificateholders in its monthly statement, made pursuant to Section 4.04.
Fairbanks shall cooperate with all reasonable requests of the Trustee, the independent auditor and the Rating Agencies in connection with a Fairbanks Performance Evaluation, including, without limitation, making available to the auditor payment histories, documentation relating to the Fairbanks' contacts with the related Mortgagors and documents contained in the related Mortgage Loan Schedule.