Examples of Manager Event of Default in a sentence
The Transaction Documents provide that the Noteholders’ rights in respect of the removal of the Collateral Manager and selection of a replacement Collateral Manager shall only be exercisable upon a Collateral Manager Event of Default.
The Transaction Documents provide that the Noteholders’ rights in respect of the removal of the Collateral Manager and selection of a replacement Collateral Manager shall only be exercisable upon an Collateral Manager Event of Default.
Providing that the right of holders of the Notes in respect of the removal of the Collateral Manager and selection of a successor collateral manager shall only be exercisable upon a Collateral Manager Event of Default may not be sufficient to ensure that the Rated Notes are not characterised as ownership interests.
Moreover, a breach of certain of these covenants may not give rise to a Note Event of Default or a Portfolio Manager Event of Default and may not give rise to a claim against the Issuer or the Portfolio Manager.
Any Asset Manager Event of Default occurs and the Asset Manager is not replaced with Radian Real Estate Management LLC or such other successor Asset Manager acceptable to Administrative Agent, in its sole discretion, within thirty (30) days; provided, however, such Asset Manager Event of Default may be waived in writing by Administrative Agent in its sole and absolute discretion on or prior to the thirtieth (30th) day.