Servicing Transition Period definition

Servicing Transition Period means the period commencing on the giving of a Termination Notice and ending such number of days thereafter as shall be determined by the Administrative Agent in its Permitted Discretion.
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Servicing Transition Period shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement.
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Servicing Transition Period. The period from the Back-up Servicer’s receipt of a Servicing Transfer Notice to the Servicing Assumption Date.
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Examples of Servicing Transition Period in a sentence

  • If the first Interest Payment Date after the end of a Servicing Transition Period is during the continuance of an Event of Default, the Paying Agent shall at the written direction of the Administrative Agent transfer into the Collection Account for application on such Interest Payment Date in accordance with Section 2.12(b) all amounts in the Reserve Account.

  • At any time after the giving of a Termination Notice by the Administrative Agent, the Paying Agent shall at the written direction of the Administrative Agent withdraw an amount from the Reserve Account required to pay Servicing Transition Expenses during the Servicing Transition Period (provided, for the avoidance of doubt, only one such withdrawal may be made from the Reserve Account to pay Servicing Transition Expenses).

  • At any time after the giving of a Termination Notice by the Administrative Agent, the Paying Agent shall at the written direction of the Administrative Agent withdraw from time to time up to an aggregate amount of $100,000 from the Reserve Account to pay Servicing Transition Expenses during the Servicing Transition Period.

  • Pursuant to Section 2.1(c) of the Back-up Servicing Agreement, the Indenture Trustee hereby informs you that [a Termination Notice has been delivered to the Servicer pursuant to Section 8.01 of the Servicing Agreement][the Servicer has resigned pursuant to Section 6.05 of the Sale and Servicing Agreement] and the Servicing Transition Period under the Back-up Servicing Agreement shall commence upon the date hereof.

  • If the first Interest Payment Date after the end of a Servicing Transition Period is during the continuance of an Event of Default or following the occurrence of an Early Amortization Event, the Paying Agent shall at the written direction of the Administrative Agent transfer into the Collection Account for application on such Interest Payment Date in accordance with Section 2.12(b) all amounts in the Reserve Account.

  • At any time after the giving of a Termination Notice by the Administrative Agent, the Paying Agent shall, at the written direction of the Administrative Agent, withdraw from time to time up to an aggregate amount of $100,000 from the Reserve Account to pay Servicing Transition Expenses during the Servicing Transition Period.

  • If the first Interest Payment Date after the end of a Servicing Transition Period is during the continuance of an Event of Default or following the occurrence of an Early Amortization Event, the Paying Agent shall at the written direction of the Administrative Agent transfer into the Collection Account for application on such Interest Payment Date in accordance with Sections 2.12(b) and 2.12(c) all amounts in the Reserve Account.

  • At any time after the giving of a Termination Notice by the Administrative Agent, the Paying Agent EAST\142259790.4 48 shall at the written direction of the Administrative Agent withdraw from time to time up to an aggregate amount of $100,000 from the Reserve Account to pay Servicing Transition Expenses during the Servicing Transition Period.

  • At any time after the giving of a Termination Notice by the Administrative Agent, the Paying Agent shall at the written direction of the Administrative Agent withdraw an amount from the Reserve Account required to pay Servicing Transition Expenses during the Servicing Transition Period.

  • If the first Interest Payment Date after the end of a Servicing Transition Period is during the continuance of an Event of Default, EAST\148781874.9 the Paying Agent shall at the written direction of the Administrative Agent transfer into the Collection Account for application on such Interest Payment Date in accordance with Section 2.12(b) all amounts in the Reserve Account.

Related to Servicing Transition Period

  • Term SOFR Transition Event means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Transition Period means the period beginning with the Registration Date and ending as of the earlier of: (i) the date of the first annual meeting of stockholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the Registration Date occurs; and (ii) the expiration of the “reliance period” under Treasury Regulation Section 1.162-27(f)(2).

  • Transition Date means the date on which this contract comes into effect for all purposes. Schedule 1 (Contract Particulars)

  • Liquidation Period has the meaning set forth in Section 10.6 of this Agreement.

  • Transfer Date means, in relation to a transfer, the later of: