Examples of Substitute Administrator Facilitator in a sentence
The Substitute Administrator Facilitator may not assign or transfer any of its rights and obligations under this Agreement without the prior written consent of the Issuer and the Trustee.
During the term of this Agreement, the Substitute Administrator Facilitator shall, at all times perform its obligations with all due care, skill and diligence and in the utmost good faith provided that the Substitute Administrator Facilitator shall not be required to do or cause to be done anything which it is prevented from doing by virtue of any applicable law or regulatory requirement.
The Issuer hereby appoints the Substitute Administrator Facilitator to carry out the services on the terms and conditions set out in this Agreement and the Substitute Administrator Facilitator accepts such appointment.
Such risks are mitigated by the provisions of the Substitute Administrator Facilitator Agreement pursuant to which the Substitute Administrator Facilitator will, upon the occurrence of certain events (see the section entitled "Transaction Overview Triggers Tables — Non-Rating Triggers Table" for further information), assist the Issuer in appointing a replacement Substitute Administrator.
Neither the Substitute Administrator nor the Substitute Administrator Facilitator has any obligation itself to advance payments that Borrowers fail to make in a timely fashion.