Subservicer Event of Default definition

Subservicer Event of Default. Any one of the conditions or circumstances enumerated in Section 4.07 with respect to the Subservicer.
Sample 1Sample 2Sample 3
Subservicer Event of Default. As defined in Section 6.01.
Sample 1Sample 2Sample 3
Subservicer Event of Default means each of the occurrences or circumstances enumerated in Section 7.02 hereof.
Sample 1Sample 2Sample 3

Examples of Subservicer Event of Default in a sentence

  • The Master Servicer shall promptly notify the Servicer at any time that the Master Servicer obtains actual knowledge of the occurrence of a Subservicer Event of Default.

  • Any failure to obtain any required waivers or approvals shall constitute a Subservicer Event of Default under Section 4(a)(iv) of this agreement.

  • The Servicer shall have the right, but not the obligation, to terminate all the rights and obligations of the Subservicer under this Agreement and in and to the servicing contract established hereby and the proceeds thereof if a Subservicer Event of Default shall have occurred.

  • In the event that the Subservicer is terminated hereunder due to the occurrence of a Subservicer Event of Default, the Subservicer shall transfer servicing with respect to the Mortgage Loans to the Servicer or any successor subservicer in accordance with the Servicer’s or such successor subservicer’s servicing transfer procedures.

  • The Servicer shall have the right, but not the obligation, to terminate all the rights and obligations of the Subservicer under this Agreement and in and to the servicing contract established hereby and the proceeds thereof if a Subservicer Event of Default or Subservicer Termination Event shall have occurred.

  • If a Servicer Event of Default, a Subservicer Event of Default, a Cash Accumulation Event or a Trigger Event has occurred, the reasonable costs of providing the foregoing shall be borne by the Servicer; otherwise, the Person seeking the foregoing shall pay its, his or her own expenses relating to the foregoing.

  • The Subservicer will promptly notify the Master Servicer upon the occurrence of a Subservicer Event of Default.

  • In the event that the Subservicer is terminated hereunder due to the occurrence of a Subservicer Event of Default or a Subservicer Termination Event, the Subservicer shall transfer servicing with respect to the Mortgage Loans to the Servicer or any successor subservicer in accordance with the Servicer’s or such successor subservicer’s servicing transfer procedures.

  • The Subservicer shall promptly notify the Servicer, the Issuer and the Trustee of any Subservicer Event of Default upon actual knowledge thereof by the Subservicer.

  • Upon discovery by the Subservicer of any Subservicer Event of Default (regardless of whether any notice has been given as provided in this Agreement or any cure period provided in this Agreement has expired), the Subservicer shall give prompt written notice thereof to KRECM.


More Definitions of Subservicer Event of Default

Subservicer Event of Default. Any one of the events, conditions or circumstances enumerated in Section 7.1(a) of the Pooling and Servicing Agreement; provided that references to “Servicer” in such Section shall be deemed to be references to “Interim Subservicer” for the purposes of this Agreement.
Sample 1
Subservicer Event of Default has the meaning given such term in Section 4 hereof. Subsidiary: shall mean any corporation, association or other business entity in which more than 50% of the total voting power or shares of stock entitled to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more of the other Subsidiaries of that Person or a combination thereof.
Sample 1
Subservicer Event of Default shall have the meaning ascribed thereto in the Subservicing Agreement;
Sample 1
Subservicer Event of Default shall have the meaning set forth in Section 9.1.
Sample 1
Subservicer Event of Default. Either of (a) any one of the events, conditions or circumstances enumerated in Section 7.1(a) of the Transfer and Servicing Agreement; provided that references to "Servicer" in such Section shall be deemed to be references to "Subservicer" for the purposes of this Agreement, or (b) receipt of notice from LBB of the occurrence of an Event of Default (as defined in the Subservicing Advance Agreement) under the Subservicing Advance Agreement.
Sample 1
Subservicer Event of Default means for any Subservicing Agreement, an event as defined therein pursuant to which the Subservicer's right to service Financed Student Loans thereunder is subject to termination or removal.
Sample 1

Related to Subservicer Event of Default

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.

  • Servicer Event of Termination One or more of the events described in Section 7.01.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Servicer Default means an event specified in Section 8.01.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Event of Default has the meaning specified in Section 8.01.

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.