Potential Servicer Default definition

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

Potential Servicer Default means an event which, with the passage of time or the giving of notice, or both, would constitute a Servicer Default.

Potential Servicer Default means any event which, with the giving of notice or lapse of time or both, would constitute a Servicer Default.

Examples of Potential Servicer Default in a sentence

• Each of the parties hereto (i) further agrees that the Merger and the foregoing related name changes shall not give rise to a Potential Default or an Event of Default under the Existing RSA or a Potential Servicer Default or Servicer Default under the Existing RPA, and (ii) waives any breach of any covenant, representation or warranty under either the Existing RPA or the Existing RSA that otherwise arises as a result of the consummation of the Merger and the foregoing related name changes.

• Any Event of Default or Potential Event of Default under the Existing RSA, or a Potential Servicer Default or Servicer Default under the Existing RPA, that would arise as a result of changes in the board of directors of any Current Originator prior to the date hereof, is hereby expressly waived.

• Together with the annual report required under Section 4.9(b)(i), the Servicer shall furnish to the Administrative Agent and each Managing Agent a compliance certificate in substantially the form of Exhibit C hereto signed by the chief accounting officer or treasurer of the Servicer stating that no Default, Event of Default, Amortization Event, Potential Amortization Event, Servicer Default or Potential Servicer Default exists, or if any such event exists, stating the nature and status thereof.

• No Default, Event of Default, Amortization Event, Potential Amortization Event, Servicer Default or Potential Servicer Default shall have occurred and be continuing (in each case, before and after giving effect to the purchase).

• No Default, Event of Default, Amortization Event, Potential Amortization Event, Servicer Default or Potential Servicer Default.

More Definitions of Potential Servicer Default

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

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

Potential Servicer Default means an event which, with the giving of notice and/or the lapse of time, would constitute a Servicer Default.

Potential Servicer Default means any occurrence or event that, with the giving of notice, the passage of time or both, would constitute an Servicer Default. “Proceeds” has the meaning specified in Section 9-102(a)(64) of the applicable UCC.

Potential Servicer Default means an event which, with the expiration of a grace period without cure or the giving of notice, or both, would constitute a Servicer Default.

Potential Servicer Default has the meaning set forth in the Purchase Agreement.

Potential Servicer Default means an event or circumstance which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Transaction Documents or any combination of the foregoing) be a Servicer Default.