Replacement Servicer definition

Replacement Servicer has the meaning assigned to that term in Section 6.01(c).

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Replacement Servicer means any Person appointed to replace the Servicer and to assume the obligations of Servicer under the Servicing Agreement.

Replacement Servicer has the meaning given to it in Section 3.3 of the Security Sharing Agreement;

Examples of Replacement Servicer in a sentence

• The indemnification obligations of the Replacement Servicer, upon becoming a Replacement Servicer, are expressly limited to those arising on account of its failure to act in good faith and with reasonable care under the circumstances.

• Any other provision in this Agreement notwithstanding, if a Replacement Servicer is appointed, it shall perform its obligations hereunder in good faith and with reasonable care, exercising a degree of skill and attention no less than what it exercises to service similar assets for itself and for others, such standard of care to be the “Servicing Standard” applicable to it.

• No such resignation shall become effective until a Replacement Servicer shall have assumed the responsibilities and obligations of the Servicer in accordance with Section 11.01(c).

• In addition, the Replacement Servicer shall have no liability relating to the representations and warranties of the Servicer contained in Section 4.02.

• Upon the appointment of a Replacement Servicer, the initial Servicer shall have no liability with respect to any action performed by the Replacement Servicer on or after the date that the Replacement Servicer assumes the servicing duties of the Servicer.

More Definitions of Replacement Servicer

Replacement Servicer means, at any time following a Servicer Transfer, the Person whom the Trust designates from time to time by written notice given to the Seller in accordance with Section 5.13 as the Replacement Servicer;

Replacement Servicer. Any Person appointed to be the “Collateral Manager” following a Collateral Manager Termination Event as provided in Section 6.8.

Replacement Servicer means a replacement servicer to perform some or all of the Services under the Servicing Agreement formerly performed by a Servicer appointed in accordance with Clause 2 of the Servicing Agreement; Representatives with respect to any Person means the officers, directors, employees, advisors and agents of such Person; Season means a period of certain months within a Year. For the purposes of this definition the months of January, February, March, April, May and June constitute a season and the months of July, August, September, October, November and December constitute a season.

Replacement Servicer means a private credit servicer of nationally recognized standing currently servicing an asset portfolio substantially similar to the Collateral Assets hereunder in connection with a lending facility substantially similar to this Agreement for which the Administrative Agent or one of its Affiliates acts as lender or administrative agent.

Replacement Servicer means a replacement servicer to perform some or all of the Services under the Servicing Agreement formerly performed by the Servicer, appointed in accordance with Section 10.04(c) of the Servicing Agreement.

Replacement Servicer is defined in Section 4 of the Intercreditor Agreement.

Replacement Servicer means any entity appointed as a substitute servicer in accordance with the Servicing and Cash Management Deed.