Potential Master Servicer Default definition

Potential Master Servicer Default means an event which, with the giving of notice or the lapse of time or both, would constitute a Master Servicer Default under the Servicing Agreement.
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Potential Master Servicer Default means an event which, with the giving of notice or the lapse of time or both, would constitute a Master Servicer Default under the Servicing Agreement or any Supplement.
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Examples of Potential Master Servicer Default in a sentence

  • No Master Servicer Default or Potential Master Servicer Default has occurred and is continuing.

  • No Master Servicer Default -------------------------- or Potential Master Servicer Default has occurred and is continuing.

  • Potential Master Servicer Default, Purchase Termination Event, Potential Purchase Termination Event, Early Amortization Event, or Potential Early Amortization Event has occurred or shall result therefrom and all representations and warranties of the Master Servicer shall remain true and correct if such a transaction occurs.

  • Upon the occurrence of any Master Servicer Default or Potential Master Servicer Default, the Master Servicer shall give prompt written notice thereof to the Trustee and any Agent and, upon receipt of such written notice, the Trustee shall give notice to each Rating Agency, and the Investor Certificateholders at their respective addresses appearing in the Certificate Register.

Related to Potential Master Servicer Default

  • Servicer Default means an event specified in Section 8.01.

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Servicer Event of Default wherever used herein, means any one of the following events:

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

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

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

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

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

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

  • Purchaser Default has the meaning set forth in Section 12.2 (a).

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

  • Servicer Termination Notice Defined in Section 6.15.

  • Employer default means having an outstanding balance or liability to the old fund or to the uninsured employers' fund or being in policy default, as defined in W. Va. Code § 23-2c-2, failure to maintain mandatory workers' compensation coverage, or failure to fully meet its obligations as a workers' compensation self-insured employer. An employer is not in employer default if it has entered into a repayment agreement with the Insurance Commissioner and remains in compliance with the obligations under the repayment agreement.

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

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • 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.

  • Servicer Notice As defined in Section 11.17.