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

  • Testing and pre-commissioning activities for the import pipeline system are described below:Import Pipeline Cleaning, Gauging and Hydro-testingFollowing installation, including any trenching and backfilling, the pipeline will be flooded from subsea to shore.

  • 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.

  • For the avoidance of doubt, Delayed Funding Purchasers shall be required to fund their respective Delayed Funding Amounts regardless of the occurrence of an Amortization Event, Potential Amortization Event, Servicer Event of Default, Potential Servicer Event of Default, Event of Default, or Potential Event of Default which occurs during the period from and including the related Funding Date to and including the related Delayed Funding Date.

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

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

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

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

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

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • 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.

  • Special Servicer Decision With respect to any Serviced Loan or Serviced Loan Combination, any of the following (to the extent it is not a Major Decision):

  • Initial Servicer means CarMax.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • 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.

  • Backup Servicer Termination Notice has the meaning given to such term in Section 8.04.

  • Servicer File means, collectively, all documents, records and copies pertaining to a Mortgage Loan which are required to be included in the related Servicer File pursuant to Section 3 thereof.

  • Servicer Notice As defined in Section 11.17.

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • CMSA Special Servicer Loan File format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CMSA for commercial mortgage securities transactions generally and, insofar as it requires the presentation of information in addition to that called for by the form of the "CMSA Special Servicer Loan File" available as of the Closing Date on the CMSA website, is reasonably acceptable to the Special Servicer.

  • 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).

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

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

  • Backup Servicer Fee means the fee to be paid to the Backup Servicer as set forth in the Backup Servicing Agreement.

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

  • Servicer Affiliate A Person (i) controlling, controlled by or under common control with the Servicer or which is 50% or more owned by the Servicer and (ii) which is qualified to service residential mortgage loans.

  • 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.