Servicer Termination Events definition

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;

Servicer Termination Events means and refer to the following on and after the Assumption Date:

Servicer Termination Events. As defined in Section 7.01.

Examples of Servicer Termination Events in a sentence

• If any defaults have occurred, such Servicer’s Certificate will provide an explanation of such Servicer Termination Events.

• It is understood that the financial terms that may not be disclosed except in compliance with this Section 11.13(a) include, without limitation, all fees and other pricing terms, and all Events of Default, Servicer Termination Events, and priority of payment provisions.

• As of _____________, no Servicer Termination Events have occurred.

• It is understood that the financial terms that may not be disclosed except in compliance with this Section 12.13(a) include, without limitation, all fees and other pricing terms, and all Events of Default, Servicer Termination Events, and priority of payment provisions.

• In addition to the foregoing, in the event any of the Servicer Termination Events described in Section 9.1(iii) or (iv) shall have occurred, or in the event LBAC shall have been removed or replaced as Servicer pursuant to Section 8.3, Section 8.5, or otherwise pursuant to Section 9.1, then LBAC and/or the Servicer shall immediately cause each Lien Certificate for a Financed Vehicle to be marked to reflect the security interest of the Trust Collateral Agent in the Financed Vehicle at the expense of LBAC.

• It is understood that the financial terms that may not be disclosed except in compliance with this Section 14.13(a) include, without limitation, all fees and other pricing terms, and all Termination Events, Servicer Termination Events, and priority of payment provisions.

• Annual Statement as to Compliance; Notice of Servicer Termination Events.

• It is understood that the financial terms that may not be disclosed except in compliance with this Section 13.13(a) include, without limitation, all fees and other pricing terms, and all Termination Events, Servicer Termination Events, and priority of payment provisions.

• The Master Servicer shall immediately notify the Indenture Trustee and each Rating Agency in writing of any Master Servicer Termination Events.

• If the Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in the case an Servicer Termination Events shall have occurred and be continuing, the Trustee alone shall have the power to make such appointment.

More Definitions of Servicer Termination Events

Servicer Termination Events. (or any analogous term under the Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Securitization Noteholders as required hereunder or under the Servicing Agreement, failure to deliver (or cause to be delivered) materials or information required in order for the Non-Lead Securitization Noteholders or the 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);

Servicer Termination Events. As defined in Section 8.07. --------------------------- Servicing File: All documents, records, and other items maintained by the -------------- Servicer with respect to a Contract and not included in the corresponding Contract File or the Land Home Contract File, as applicable, including the credit application, credit reports and verifications, appraisals, tax and insurance records, payment records, insurance claim records, correspondence, and all historical computerized data files.

Servicer Termination Events means and refer to the following on and after the Assumption Date: 137 LEGAL02/42338653v2

Servicer Termination Events wherever used herein, means any one of the following events: (i) any failure by the Servicer to deposit or to remit to the appropriate party for deposit into the Central Account or any other Account, any amount required to be so deposited by the Servicer under this Agreement, which failure continues unremedied for one (1) Business Day following the date on which such deposit or remittance was first required to be made by the Servicer; or (ii) any failure by the Servicer to remit to the Indenture Trustee for deposit into the Central Account any amount required by this Agreement to be so remitted by the Servicer (including any Debt Service Advance) by 1:00 p.m. (New York City time) on the related Payment Date; or (iii) any failure on the part of the Servicer duly to observe or perform in any material respect any other of the covenants or obligations on the part of the Servicer contained in this Agreement, which failure continues unremedied for a period of thirty (30) days (or, in the case of Servicing Advances for the payment of insurance premiums, for a period of fifteen (15) days, but in no event past the date on which the related insurance coverage expires) after the earlier of (A) the date on which a Servicing Officer obtains knowledge of such failure and (B) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by any other party hereto or to the Servicer (with a copy to each other party hereto) by the Noteholders entitled to at least 25% of the Voting Rights; or (iv) any breach on the part of the Servicer of any representation or warranty contained in this Agreement that materially and adversely affects the interests of Noteholders of any Class and which continues unremedied for a period of sixty (60) days after the earlier of (A) the date on which a Servicing Officer obtains knowledge of such breach and (B) the date on which written notice of such breach, requiring the same to be remedied, shall have been given to the Servicer by any other party hereto or to the Servicer (with a copy to each other party hereto) by the Noteholders entitled to at least 25% of the Voting Rights; or (v) a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankr...

Servicer Termination Events means any of the following in connection with the Series 2021-1 Debt Securities, and “Servicer Termination Event” means any one of them:

Servicer Termination Events means the occurrence of any of the following event: