Unmatured Servicer Termination Event definition

Unmatured Servicer Termination Event means any event which, with the giving of notice or lapse of time or both, would constitute a Servicer Termination Event.
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Unmatured Servicer Termination Event has the meaning set forth in the Servicing Agreement.
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Unmatured Servicer Termination Event means any event that, with the giving of notice or the lapse of time, or both, would become a Servicer Termination Event. "Unmatured Termination Event" means any event that, with the giving of notice or the lapse of time, or both, would become a Termination Event. "Unreimbursed Servicer Advances" means, at any time, the amount of all previous Servicer Advances (or portions thereof) as to which the Servicer has not been reimbursed as of such time pursuant to Section 2.06. "Unused Commitment Fee" means, for any Interest Period prior to the commencement of the Amortization Period, the fee payable by the Borrower on the related Payment Date in an amount equal to product of (i) the Unused Commitment Fee Rate times (ii) an amount equal to the positive difference, if any, of (a) the average daily Aggregate Mandatory Commitment during such Interest Period minus (b) the average daily Loans Outstanding during such Interest Period times (iii) a fraction, (A) the numerator of which is the actual number of days during such Interest Period and (B) the denominator of which is 360. "Unused Commitment Fee Rate" has the meaning given to such term in the Fee Letter. "Upfront Fee" has the meaning given to such term in the Fee Letter. "U.S. Government Securities Business Day" means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. "Used Vehicle" means a Financed Vehicle that (i) has an odometer reading of 500 miles or greater, (ii) is a vehicle model that is more than two years old or (iii) was owned by and titled in the name of any Person (other than Lithia or DFC). "Weighted Average Hedge Rate" means, as of any date of determination, either (i) if the Borrower is party to one or more Hedge Transactions on such date (after giving effect to any Hedge Transactions that the Borrower enters into or terminates on such date), the weighted average (weighted by the notional amount of the related Hedge Transaction with respect to each 48
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Examples of Unmatured Servicer Termination Event in a sentence

  • As soon as reasonably practicable and in any event within three (3) Business Days after any Responsible Officer of the Borrower obtains knowledge of the occurrence of each Event of Default, Servicer Termination Event, Default (if such Default is continuing on such date) or Unmatured Servicer Termination Event, the statement of a Responsible Officer of the Borrower setting forth the details of such event and the action which the Borrower is taking or proposes to take with respect thereto.

  • The Servicer will furnish to the Administrative Agent, the Backup Servicer and each Hedge Counterparty, within one Business Day after a Responsible Officer of the Servicer has actual knowledge thereof, notice of the occurrence of an Unmatured Termination Event, a Termination Event, an Unmatured Servicer Termination Event or a Servicer Termination Event.

  • The occurrence of each Amortization Event, Servicer Termination Event, Unmatured Servicer Termination Event and each Unmatured Amortization Event, by a statement of an Authorized Officer of such Borrower Party.

  • The Borrower will provide the Administrative Agent with written notice within one Business Day of the date on which the Borrower receives notice of, or obtains knowledge of, the occurrence of any Termination Event, Unmatured Termination Event, Step-up Event, Early Amortization Event, Servicer Termination and Unmatured Servicer Termination Event.

  • Section 6.8. Immediately prior, and after giving all effect, to this Amendment, no event, condition or circumstance has occurred and is continuing which constitutes a Servicer Termination Event, Unmatured Servicer Termination Event, Default or Event of Default.

  • In the event a Default, an Event of Default, an Unmatured Servicer Termination Event or a Servicer Termination Event has occurred and is continuing, the Servicer shall not make any such request with respect to any original documents unless the Administrative Agent shall have consented in writing thereto (which consent may be evidenced by an executed counterpart to such request).

  • The Agent shall not be deemed to have knowledge of any Unmatured Termination Event, Termination Event, Unmatured Servicer Termination Event or Servicer Termination Event unless the Agent has received notice from the Borrower or a Secured Party.

  • A certificate of the chief financial officer, assistant treasurer or treasurer of the Servicer certifying on behalf of the Servicer, in its individual capacity and in its capacity as sole member of the Borrower, as to the absence of an Amortization Event, a Servicer Termination Event, an Unmatured Servicer Termination Event or an Unmatured Amortization Event under the Receivables Loan Agreement.

  • The Agent may, upon the occurrence of an Unmatured Servicer Termination Event (other than one arising as a result of a Voluntary Termination, unless another Unmatured Servicer Termination Event occurs), designate as Servicer any Person to succeed ABF or any successor Servicer.

  • No Unmatured Servicer Termination Event, Servicer Termination Event, Default or Event of Default has occurred and is continuing; provided that, as of any Purchase Date, an Unmatured Servicer Termination Event or Default may have occurred and be continuing if the Borrower is acquiring a Collateral Asset in order to cure a Borrowing Base Deficiency in accordance with Section 2.03(b) of the Credit Agreement.


More Definitions of Unmatured Servicer Termination Event

Unmatured Servicer Termination Event means any event that, with the giving of notice or the lapse of time, or both, would become a Servicer Termination Event. "Unmatured Termination Event" means any event that, with the giving of notice or the lapse of time, or both, would become a Termination Event. "Unreimbursed Servicer Advances" means, at any time, the amount of all previous Servicer Advances (or portions thereof) as to which the Servicer has not been reimbursed as of such time pursuant to Section 2.06. "Unused Commitment Fee" means, for any Interest Period prior to the commencement of the Amortization Period, the fee payable by the Borrower on the related Payment Date in an amount equal to product of (i) the Unused Commitment Fee Rate times (ii) an amount equal to the positive difference, if any, of (a) the average daily Aggregate Commitment during such Interest Period minus (b) the average daily Loans Outstanding during such Interest Period times (iii) a fraction, (A) the numerator of which is the actual number of days during such Interest Period and (B) the denominator of which is 360. "Unused Commitment Fee Rate" has the meaning given to such term in the Fee Letter. "U.S. Government Securities Business Day" means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.
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Unmatured Servicer Termination Event means any event that, with the giving of notice or the lapse of time, or both, would become a Servicer Termination Event. "Unmatured Termination Event" means any event that, with the giving of notice or the lapse of time, or both, would become a Termination Event. "Unreimbursed Servicer Advances" means, at any time, the amount of all previous Servicer Advances (or portions thereof) as to which the Servicer has not been reimbursed as of such time pursuant to Section 2.06. "Unused Commitment Fee" means, for any Interest Period prior to the commencement of the Amortization Period, the fee payable by the Borrower on the related Payment Date in an amount equal to product of (i) the Unused Commitment Fee Rate times (ii) an amount equal to the positive difference, if any, of (a) the average daily Aggregate Mandatory Commitment during such Interest Period minus (b) the average daily Loans Outstanding during such Interest Period times (iii) a fraction, (A) the numerator of which is the actual number of days during such Interest Period and (B) the denominator of which is 360.
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Related to Unmatured Servicer Termination Event

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • 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.

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • Servicer Termination Notice Defined in Section 6.15.

  • Operating Advisor Termination Event As defined in Section 7.06(a) of this Agreement.

  • Backup Servicer Termination Notice has the meaning given to such term in Section 8.04.

  • Swap Termination Event means any event defined as a “Swap Termination Event” in the Interest Rate Swap Agreement.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

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

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

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

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Company Termination Event has the meaning set forth in Section 10 hereof.

  • Amortization Event has the meaning specified in Article IX.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Early Termination Event has the meaning specified in Section 9.2.