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 Event wherever used herein, means any one of the following events:

Servicer Termination Event means an event specified in Section 9.1.

Examples of Servicer Termination Event in a sentence

The Noteholders of a majority of the Note Balance of the Controlling Class or, if no Notes are Outstanding, the Owner Trustee, at the direction of the holder of the Residual Interest, may direct the Indenture Trustee to waive a Servicer Termination Event, except failure to make required deposits to or payment from any of the Bank Accounts, and its consequences.
If a Servicer Termination Event occurs, the Issuer will promptly notify the Rating Agencies.
The Servicer will notify the Issuer, the Owner Trustee and the Indenture Trustee of any Servicer Termination Event or any event that with the giving of notice or passage of time, or both, would become a Servicer Termination Event, no later than five Business Days after a Responsible Person of the Servicer has knowledge of the event.
If a Servicer Termination Event occurs and is continuing, the Indenture Trustee may and, if directed by the Noteholders of a majority of the Note Balance of the Controlling Class, must remove the Servicer and terminate its rights and obligations under this Agreement by notifying the Servicer, the Issuer, the Owner Trustee and the Secured Parties.
On any waiver, the Servicer Termination Event will be considered not to have occurred.

More Definitions of Servicer Termination Event

Servicer Termination Event. As defined in Section 7.01 of this Agreement.

Servicer Termination Event has the meaning set forth in Section 8.01 of the Sale and Servicing Agreement.

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

Servicer Termination Event. As defined in Section 8.20(a) hereof.

Servicer Termination Event. (a) Any failure by the Servicer to deliver to the Trust Collateral Agent for distribution to Noteholders any proceeds or payment required to be so delivered under the terms of this Agreement that continues unremedied for a period of two Business Days (one Business Day with respect to payment of Purchase Amounts) after written notice is received by the Servicer from the Trust Collateral Agent or after discovery of such failure by a Responsible Officer of the Servicer; or

Servicer Termination Event has the meaning set forth in Section 8.28(a).

Servicer Termination Event has the meaning given to it in Section 17.1 of the Servicing Agreement;