Lending Facility Servicer Default definition
Lending Facility Servicer Default has the meaning specified in Section 4.1(a) of the Basic Servicing Agreement.
Lending Facility Servicer Default. (as defined in Section 4.1 of the Basic Servicing Agreement) or an “Exchange Note Servicer Default”; provided, further, that, if any event described in Section 6.3(a)(iii) through (vi) of the Credit and Security Agreement shall have been caused solely by a Force Majeure Event, then the applicable cure period referred to in such clause shall be extended for an additional ten (10) calendar days; provided, further, that, if there is no cure period listed in any such clause, then such cure period shall be ten (10) calendar days.
Lending Facility Servicer Default. (as defined in Section 4.1 of the Basic Servicing Agreement) or an “Exchange Note Servicer Default.”
Examples of Lending Facility Servicer Default in a sentence
In the event that the predecessor servicer is being replaced upon the occurrence of a Lending Facility Servicer Default or Exchange Note Servicer Default or otherwise for cause, the predecessor Servicer shall pay all reasonable set-up and conversion costs associated with the transfer of the servicing rights to the Successor Servicer.