Unmatured Servicer Default definition
Unmatured Servicer Default means any event that, if it continues uncured, will, with lapse of time or notice or lapse of time and notice, constitute a Servicer Default.
Unmatured Servicer Default means any event that, with the giving of notice or lapse of time, or both, would become a Servicer Default.
Unmatured Servicer Default shall have the meaning set forth in the Transfer and Servicing Agreement.
Examples of Unmatured Servicer Default in a sentence
So long as no Unmatured Event of Default, Event of Default, Unmatured Servicer Default or Servicer Default has occurred and is continuing, such visits and inspections shall occur only (i) upon three (3) Business Days’ prior written notice, (ii) during normal business hours and (iii) no more than once in any calendar year.
During the existence of an Unmatured Event of Default, an Event of Default, an Unmatured Servicer Default or a Servicer Default, there shall be no limit on the timing or number of such inspections and no prior notice will be required before any inspection.
The Servicer shall deliver to the Facility Agent and the Collateral Agent, promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days thereafter, written notice in an Officer’s Certificate of any Unmatured Servicer Default or Unmatured Event of Default.
More Definitions of Unmatured Servicer Default
Unmatured Servicer Default shall have the meaning set forth in the Servicing Agreement.
Unmatured Servicer Default means any event or condition that constitutes a Servicer Default or that, with the giving of any notice, the passage of time, or both, would be a Servicer Default.
Unmatured Servicer Default means any event that, if it continues uncured, will, with lapse of time or notice or lapse of time and notice, constitute a
Unmatured Servicer Default has the meaning given to such term in the Servicing Agreement.
Unmatured Servicer Default means any event that, if it continues uncured, will, with lapse of time or notice or lapse of time and notice, constitute a Servicer Default. “Unrestricted Cash” means (i) with respect to any Loan, the meaning of “Unrestricted Cash” or any comparable definition in the Underlying Instrument for each such Loan, and in any case that “Unrestricted Cash” or such comparable definition is not defined in such Underlying Instrument, all cash available for use for general corporate purposes and not held in any reserve account or legally or contractually restricted for any particular purposes or subject to any lien (other than blanket liens permitted under or Granted in accordance with such Underlying Instrument), in each case as determined by the Servicer consistent with the Servicer Standard and subject to the Servicer’s standard practices for adjusting Unrestricted Cash as reported by borrowers and (ii) with respect to the definition of “Financial Covenant Test”, all cash available for use for general corporate purposes and not held in any reserve account or legally or contractually restricted for any particular purposes or subject to any lien (other than “all assets” or similar blanket liens). “Unused Facility Amount” means, at any time, (a) the Facility Amount at such time minus the greater of (a) the Advances Outstanding and (b) the Minimum Utilization. “Unused Fee” means a fee (payable in Dollars) payable in an amountarrears for each Collection Period, equal to the product of (a) the Unused Facility Amount multiplied bysum of the products for each day during such Collection Period of (a) one divided by three hundred and sixty (360), (b) the applicable Unused Fee Rate and (c) the positive difference, if any, of the Facility Amount less the greater of (i) the Advances Outstanding on such date and (ii) the Minimum Utilization. “Unused Fee Rate” means (x) prior to the Eighth Amendment Closing Date, 0.50% per annum, (y) on and after the Eighth Amendment Closing Date and prior to the Amortization Period, 0.50% per annum0.65% per annum and (yz) during the Amortization Period, zero. “U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code. “U.S. Tax Compliance Certificate” has the meaning specified in Section 2.10(g)(i). “Value Adjustment Event” means, with respect to any Loan, the occurrence of any one or more of the following events after the related Addition Cut-Off Date: (a) (i) (i) the Cash Interest Coverage Ra...