Servicer Termination Notice definition

Servicer Termination Notice. Defined in Section 6.15.

Servicer Termination Notice has the meaning assigned to that term in Section 6.01(b).

Servicer Termination Notice means any notice by the Administrative Agent to the Servicer that (a) an Event of Servicer Termination has occurred and (b) the Servicer’s appointment under the Funding Agreement has been terminated.

Examples of Servicer Termination Notice in a sentence

• On and after the receipt by the Applicable Servicer of a Servicer Termination Notice pursuant to this Section 8.01(b), the Applicable Servicer shall continue to perform all servicing functions under this Agreement until the date that is 30 days after the date of such notice or until a date mutually agreed upon by the Applicable Servicer and the Administrative Agent (upon direction of the Majority Lenders) or the Majority Lenders.

• The Borrower, each Applicable Servicer and the Administrative Agent hereby agree that, upon the occurrence of a Servicer Termination Event with respect to such Applicable Servicer, the Administrative Agent, by written notice to the Applicable Servicer (a "Servicer Termination Notice"), may (and shall, upon the direction of the Majority Lenders) terminate all of the rights, obligations, power and authority of the Applicable Servicer under this Agreement.

More Definitions of Servicer Termination Notice

Servicer Termination Notice means a notice given to the Servicer pursuant to Section 7.01 of the Sale and Servicing Agreement terminating all rights and obligations of the Servicer under the Sale and Servicing Agreement, other than the indemnification obligations of the Servicer under Section 6.02 of the Sale and Servicing Agreement, which shall survive such termination.

Servicer Termination Notice has the meaning given to such term in Section 7.13.

Servicer Termination Notice is defined in Section 5.1 of the Servicing Agreement.

Servicer Termination Notice means the notice described in Section 6.01 hereof.

Servicer Termination Notice. The notice described in Section 6.01 of the Servicing Agreement.

Servicer Termination Notice. The notice described in Section 9.01(a) hereof.

Servicer Termination Notice means the notice given by the Issuer and by the Security Trustee to the Servicer pursuant to Clause 6.1 (Servicer Replacement and Termination) of the Servicing Agreement.