Potential Servicer Event definition

Potential Servicer Event means any event or condition which, with the giving of notice, the passage of time or both, would constitute a Servicer Event.
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Examples of Potential Servicer Event in a sentence

  • At any time, and from time to time following a Complete Servicing Transfer, or if a Servicer Event or Potential Servicer Event shall have occurred and be continuing, the Seller, the Company and the Servicer shall permit such Persons as the Buyer may designate to open and inspect all mail received by the Seller or the Servicer at any of its offices, and to remove therefrom any and all Collections or other correspondence from Obligors or the Company in respect of Purchased Receivables.

  • At any time, and from time to time following a -------------------- Complete Servicing Transfer, or if a Servicer Event or Potential Servicer Event shall have occurred and be continuing, the Seller, the Company and the Servicer shall permit such Persons as the Buyer may designate to open and inspect all mail received by the Seller or the Servicer at any of its offices, and to remove therefrom any and all Collections or other correspondence from Obligors or the Company in respect of Purchased Receivables.

Related to Potential Servicer Event

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

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

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

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

  • 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.

  • Initial Servicer means CarMax.

  • 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;

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

  • Servicer Notice As defined in Section 11.17.

  • Servicer Default means an event specified in Section 8.01.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • Backup Servicer Fee means, for any Collection Period, the greater of (i) the product of one-twelfth of 0.0075% and the Pool Balance as of the first day of the preceding Collection Period (or in the case of the initial Collection Period, as of the Cutoff Date) and (ii) $2,500.

  • Servicer Replacement Event means any one or more of the following that shall have occurred and be continuing:

  • Servicing Transfer Event means any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan is required to be transferred to the Special Servicer from the Master Servicer.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Servicer Employee As defined in Section 3.18.