Examples of Servicer Performance Guarantor in a sentence
The obligations of the Servicer Performance Guarantor hereunder shall rank pari passu with the senior unsecured debt of the Servicer Performance Guarantor.
The Servicer Performance Guarantor agrees that its obligations under this Performance Guaranty shall be irrevocable.
Servicer Performance Guarantor and Servicer will each appoint an equal number of members to an oversight panel having such number of members as the Parties shall mutually agree and meeting periodically with such frequency as the Parties shall mutually agree (but in any event, at least quarterly) to review the performance (i) by the Parties under this Performance Guaranty and (ii) by the Servicer under the Servicing Agreement.
When events or changes in circumstances indicate that the carrying amount of the intangible assets and property, plant and equipment may not be recoverable, we estimate the value in use for the individual assets, or when not possible, at the level of CGUs to which the individual assets belong.
Upon any such permitted assignment by the Servicer Performance Guarantor or Servicer, as applicable, (A) the references in this Performance Guaranty to the Servicer Performance Guarantor or Servicer, as applicable, shall apply to such assignee unless the context otherwise requires and (B) the assignor shall automatically and unconditionally be released and discharged from any liability or obligation under this Performance Guaranty without the requirement of any further action by any person or entity.
The Servicer Performance Guarantor shall reimburse Beneficiary for all reasonable and necessary out-of-pocket fees, costs and expenses incurred by it in connection with any attempt to enforce any of its rights or remedies under this Performance Guaranty against the Servicer Performance Guarantor.
In the event of a foreclosure by the Indenture Trustee of its security interest in this Performance Guaranty when permitted by the Indenture, the Indenture Trustee shall have the right at such time to enforce this Performance Guaranty, and the full performance of the Servicer Performance Guarantor, as and when required hereunder.
The Servicer Performance Guarantor is also liable for all of its own out-of-pocket expenses incurred in connection with the negotiation, preparation and the carrying out of its obligations under this Performance Guaranty.
Notwithstanding anything to the contrary contained in this Performance Guaranty, the obligations of the Servicer Performance Guarantor hereunder in respect of the Servicer are expressly limited to the Guaranteed Servicer Obligations.
To the extent necessary to facilitate the preceding obligation, Servicer Performance Guarantor hereby irrevocably assigns, transfers and conveys to Servicer, without further consideration, all of its right, title and interest (including all Intellectual Property Rights) in and to such Deliverables, except as Servicer and Servicer Performance Guarantor may otherwise agree in writing or as provided in clause (c) below.