Subservicer Event of Default. As defined in Section 6.01.

Subservicer Event of Default wherever used in this Agreement, means any one of the following events:

Subservicer Event of Default. Any one of the conditions or circumstances enumerated in Section 4.07 with respect to the Subservicer.

Examples of Subservicer Event of Default in a sentence

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

More Definitions of Subservicer Event of Default

Subservicer Event of Default means each of the occurrences or circumstances enumerated in Section 7.02 hereof.

Subservicer Event of Default shall have the meaning ascribed thereto in the Subservicing Agreement;

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.

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.

Subservicer Event of Default means any one of the following events:

Subservicer Event of Default shall have the meaning set forth in Section 9.1.

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.