Potential Servicer Termination Event definition

Potential Servicer Termination Event means any event which but for the passage of time or the giving of notice or any combination thereof would constitute a Servicer Termination Event.

Potential Servicer Termination Event. Any event that, with the giving of notice or the lapse of time, or both, would become a Servicer Termination Event.

Potential Servicer Termination Event means any occurrence of any event that with the passage of time or the giving of notice or both would constitute a Servicer Termination Event.

Examples of Potential Servicer Termination Event in a sentence

• Upon the occurrence of a Servicer Termination Event, a Potential Servicer Termination Event or an Unsatisfactory Audit, the Deal Agent shall have the right (acting at the direction, or with the consent, of the Required Lenders) to require the Borrower and the Servicer (i) to establish a segregated payment trust account in the name of the Collateral Agent for Collections related to the Collateral and (ii) to direct all Obligors to make payments into such account.

• The Deal Agent shall not be deemed to have knowledge of any Amortization Event, Unmatured Termination Event, Termination Event, Servicer Termination Event or Potential Servicer Termination Event unless the Deal Agent has received notice from the Borrower or a Secured Party.

• The Collateral Agent shall not be deemed to have knowledge of any Amortization Event, Unmatured Termination Event, Termination Event, Servicer Termination Event or Potential Servicer Termination Event unless the Collateral Agent has received notice from the Borrower or a Secured Party.

• The Monthly Report shall specify whether an Amortization Event, Servicer Termination Event, Potential Servicer Termination Event, Termination Event or Unmatured Termination Event has occurred with respect to the Collection Period preceding such Determination Date.

• The Servicer will notify the Trust, the Owner Trustee and the Master Collateral Agent of any Servicer Termination Event or Potential Servicer Termination Event, no later than five (5) Business Days after a Responsible Person of the Servicer has received written notice of or has actual knowledge of the event.

• Upon the occurrence of a Servicer Termination Event, a Potential Servicer Termination Event or an Unsatisfactory Audit, the Deal Agent shall have the right to require the Borrower and the Servicer (i) to establish a segregated payment trust account in the name of the Collateral Agent for Collections related to the Collateral and (ii) to direct all Obligors to make payments into such account.

• No Termination Event, Servicer Termination Event, Potential Servicer Termination Event or Amortization Event has occurred, is continuing, or would occur as a result of this Amendment.

• The Borrower shall (but in any event, prior to a Termination Event, Potential Termination Event, Servicer Termination Event or Potential Servicer Termination Event on no more than four occasions per year), permit only the Secured Parties and the Administrative Agent or their duly authorized representatives, attorneys or auditors to inspect the books and records maintained by the Borrower pursuant hereto at such times as the Secured Parties or the Administrative Agent may reasonably request.

• No Potential Servicer Termination Event or Servicer Termination Event has occurred and is continuing.

• The Borrower shall (but in any event, prior to ----------------- a Termination Event, Potential Termination Event, Servicer Termination Event or Potential Servicer Termination Event on no more than four occasions per year), permit only the Secured Parties and their respective duly authorized representatives, attorneys or auditors to inspect the books and records maintained by the Borrower pursuant hereto at such times as any such Secured Party may reasonably request.

More Definitions of Potential Servicer Termination Event

Potential Servicer Termination Event means any event which, with the passage of time, the giving of notice, or both, would (if not cured or otherwise remedied during such time) constitute a Servicer Termination Event. “Predecessor Servicer Work Product” has the meaning specified in Section 11.08(f). “Prime Rate” means the rate announced by Capital One, N.A. from time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by Capital One, N.A. in connection with extensions of credit to debtors. Capital One, N.A. may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate. “Principal Balance” means, with respect to any Loan, as of any date of determination, the outstanding principal amount of such Loan (excluding any capitalized interest). “Principal Collections” means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Collections, including unapplied proceeds of the Advances and any Cash equity contributions. “Priority of Payments” has the meaning specified in Section 9.01(a). “Private Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Persons (other than Governmental Authorities). “Proceeds” has, with reference to any asset or property, the meaning assigned to it under the UCC and, in any event, shall include, but not be limited to, any and all amounts from time to time paid or - 30- 34881204v6 110062879